CEO Albert Bourla said Pfizer is staring down an expected loss of up to $18 billion in revenue from 2025 through 2030 as patent protections expire.
CEO Albert Bourla said Pfizer is staring down an expected loss of up to $18 billion in revenue from 2025 though 2030 as it loses several key patents.
Pfizer CEO Albert Bourla talks during a press conference with European Commission President after a visit to oversee the production of the Pfizer-BioNtech Covid-19 vaccine at the factory of US pharmaceutical company Pfizer, in Puurs, on April 23, 2021.CEO Albert Bourla laid out his plan Tuesday to keep the pharmaceutical giant growing through 2030, as the Covid-19 pandemic fades and the company faces generic competition for some of its blockbuster drugs.
In a July report, Moody's singled out five Pfizer medications that could come under pressure from generics over the next decade. They include Eliquis to treat blood clots, Vyndaqel for cardiomyopathy, Xeljanz for rheumatoid arthritis, Ibrance for breast cancer and Xtandi for prostate cancer. Bourla told analysts that Pfizer plans to add $25 billion to the company's revenues by 2030 through recent acquisitions as well as the development of its in-house drug and vaccine pipeline. He highlighted three areas of focus — respiratory syncytial virus, migraines, and ulcerative colitis.
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