Wyeth Pharma Vitae Profile 2009
Wyeth Pharma Vitae Profile 2009
Description
Introduction
This analysis examines the historical and forecast performance for Wyeth in the prescription pharmaceutical sector. The
profile encompasses global company strategy, portfolio and pipeline analysis and assessment of financial performance, with
1-6 year sales forecasts for key drugs. An interactive forecasting and analysis tool provides continually updated quantitative
and qualitative information.
Reasons to Purchase
*Benchmark Wyeth's performance against key rivals in the prescription pharmaceutical sector
*See how Wyeth's performance to 2013 will be hampered by the demise of four key products, cancelling out growth from a
relatively promising pipeline
*Learn how the company's operating profit growth will be boosted by a strategy of continued cost containment
Table of Contents
CHAPTER 1 ABOUT THIS PROFILE 2
Executive summary 2
Quarterly news update 2
Company introduction 2
Company sales 2
Company financials 2
Key products and competitors 3
Data sourcing 3
Sales data 3
Analyst consensus 3
CHAPTER 2 EXECUTIVE SUMMARY 4
Key findings 4
Prescription pharmaceutical sales performance, 2001-13 5
Financial performance, 2001-13 6
Wyeth: PharmaVitae forecasts at a glance 7
Strategic insight 8
Wyeth to be acquired by Pfizer 8
Five key blockbusters will continue to define performance out to 2013... 10
...masking commercial potential of relatively strong pipeline 10
Falling costs leave the company in a strong financial position 11
SWOT analysis 13
Strengths 13
Strong financial position 13
Enbrel's insulation from generic competition 14
Potential to prolong lifecycle of key products through launch of follow-on products, Prevnar-13 and Pristiq 14
Weaknesses 14
Patent expiry of blockbuster products 14
Opportunities 15
Bapineuzumab potential to break new ground in the Alzheimer's market 15
Use cash reserves to pursue M&A activity or licensing deals 15
Threats 15
Failure to win Protonix court case 15
Failure of late-stage pipeline products to meet their potential 15
CHAPTER 3 QUARTERLY NEWS UPDATE 20
Quarterly sales update, Q408 20
Product developments 21
Deals and alliances 24
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Product deals 24
Technology deals 27
M&A activity 28
Company announcements 29
Future product milestones 33
CHAPTER 4 COMPANY INTRODUCTION 34
Key findings 34
Background 35
Key corporate developments 35
M&A history 35
Haptogen 36
Current corporate structure 37
Pharmaceuticals business unit structure 38
Prescription pharmaceuticals 38
Nutritionals 39
Consumer health 39
Animal health 39
CHAPTER 5 COMPANY SALES 40
Key findings 40
Prescription pharmaceutical sales and growth rate analysis, 2001-13 41
Product analysis 43
Product analysis, 2001-07 43
Product analysis, 2007-13 45
Therapy area analysis 47
Therapy area analysis, 2001-07 48
Therapy area analysis, 2007-13 50
Therapy area focus, 2001-13 52
Geographic analysis 53
Geographic analysis, 2001-07 54
Geographic analysis, 2007-13 55
Geographic focus, 2001-13 57
Launch/core/expiry analysis 58
Explanation of launch/core/expiry analysis 58
Launch analysis, 2007-13 59
Core analysis, 2007-13 60
Expiry analysis, 2007-13 61
Launch/core/expiry configuration, 2007-13 62
Molecule type analysis 64
Molecule type analysis, 2001-07 65
Molecule type analysis, 2007-13 66
Externalization analysis 69
Externalization analysis, 2001-07 70
Externalization analysis, 2007-13 71
CHAPTER 6 COMPANY FINANCIALS 73
Key findings 73
Reconciliation between PharmaVitae-formatted prescription pharma sales and company-reported total sales, 2001-07 74
Financial statements, 2001-07 76
Profit and loss account, 2001-07 76
Balance sheet, 2001-07 77
Operating costs and profit analysis 78
Operating costs and profit analysis, 2001-07 79
Operating cost ratio and profit margin analysis, 2001-07 80
Operating cost ratio and profit margin analysis, 2007-13 81
Operating costs and profit analysis, 2007-13 83
Return on capital employed analysis 85
Capital employed analysis, 2001-07 86
Return on capital employed (RoCE) analysis, 2001-07 88
Market capitalization analysis 91
Market capitalization analysis, 2001-07 91
Total shareholder returns analysis, 2001-07 92
CHAPTER 7 KEY PRODUCTS AND COMPETITORS 94
Key findings 94
Overview 95
CNS 96
Pristiq 97
Overview 98
Sales forecast 99
Product overview 99
Effexor 103
Overview 103
Sales forecast 104
Product overview 104
bapineuzumab 110
Overview 111
Sales forecast 112
Infectious diseases 115
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Prevnar & Prevnar-13 115
Overview 115
Sales forecast 117
Product overview 118
Tygacil 123
Overview 123
Sales forecast 124
Product overview 124
Tazocin 126
Overview 126
Sales forecast 127
Product overview 127
Inflammation & immunology 130
Enbrel 130
Overview 131
Sales forecast 132
Product overview 132
Urology & gender-specific health disorders 137
Premarin 137
Overview 137
Sales forecast 138
Product overview 138
Gastroenterology 144
Protonix 144
Overview 144
Sales forecast 145
Product overview 145
Musculoskeletal 152
Viviant/Aprela 152
Overview 153
Sales forecast 154
Product overview 154
CHAPTER 8 APPENDIX 158
R&D pipeline 158
References 159
Abbreviations 159
List of Tables
Table 1: Wyeth - PharmaVitae forecasts at a glance 7
Table 2: Wyeth quarterly global sales update ($m), Q4 2008 20
Table 3: Wyeth key product developments, 2008 21
Table 4: Wyeth product deals and alliances, 2008 24
Table 5: Wyeth technology deals and alliances, Q1 2008 27
Table 6: Wyeth M&A activity, 2008 28
Table 7: Wyeth company announcements, 2008 29
Table 8: Wyeth future product milestones, 2008-10 33
Table 9: Wyeth product portfolio overview ($m), 2001-07 43
Table 10: Wyeth product portfolio overview ($m), 2007-13 45
Table 11: Wyeth product portfolio overview ($m), 2001-07 48
Table 12: Wyeth product portfolio overview ($m), 2007-13 50
Table 13: Wyeth portfolio overview by geographic region ($m), 2001-07 54
Table 14: Wyeth portfolio overview by geographic region ($m), 2007-13 55
Table 15: Wyeth launch portfolio overview ($m), 2007-13 59
Table 16: Wyeth core portfolio overview ($m), 2007-13 60
Table 17: Wyeth expiry portfolio overview ($m), 2007-13 61
Table 18: Wyeth portfolio overview by molecule type ($m), 2001-07 65
Table 19: Wyeth product portfolio overview by molecule type ($m), 2007-13 66
Table 20: Wyeth product portfolio overview by source ($m), 2001-07 70
Table 21: Wyeth product portfolio overview by source ($m), 2007-13 71
Table 22: Total Wyeth sales by business unit ($m), 2001-07 74
Table 23: Wyeth profit and loss account ($m), 2001-07 76
Table 24: Wyeth balance sheet ($m), 2001-07 77
Table 25: Wyeth operating revenue/cost analysis ($m), 2001-07 79
Table 26: Wyeth operating cost ratio analysis (% of total revenues), 2001-07 80
Table 27: Wyeth operating cost ratio analysis (% of total revenues), 2007-13 81
Table 28: Wyeth operating revenue/cost analysis ($m), 2007-13 83
Table 29: Wyeth capital employed ($m), 2001-07 86
Table 30: Wyeth EBIT return on capital employed ($m), 2001-07 88
Table 31: Wyeth EBIT pre-tax return/Capital employed driver analysis (%), 2001-07 89
Table 32: Wyeth market capitalization ($ billion), 2001-07 91
Table 33: Wyeth total shareholder returns (annual %), 2001-07 92
Table 34: Key products overview 95
Table 35: Pristiq: overview 98
Table 36: Pristiq: sales forecast ($m), 2007-13 99
Table 37: Effexor: overview 103
Table 38: Effexor: sales forecast ($m), 2007-13 104
Table 39: bapineuzumab: overview 111
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Table 40: bapineuzumab: sales forecast ($m), 2007-13 112
Table 41: Prevnar: overview 115
Table 42: Prevnar-13: overview 116
Table 43: Prevnar: sales forecast ($m), 2007-13 117
Table 44: Prevnar-13: sales forecast ($m), 2007-13 117
Table 45: Tygacil: overview 123
Table 46: Tygacil: sales forecast ($m), 2007-13 124
Table 47: Tazocin: overview 126
Table 48: Tazocin: sales forecast ($m), 2007-13 127
Table 49: Enbrel: overview 131
Table 50: Enbrel: sales forecast ($m), 2007-13 132
Table 51: Premarin: overview 137
Table 52: Premarin: sales forecast ($m), 2007-13 138
Table 53: Protonix: overview 144
Table 54: Protonix: sales forecast ($m), 2007-13 145
Table 55: Viviant/Aprela: overview 153
Table 56: Viviant/Aprela: sales forecast ($m), 2007-13 154
Table 57: Wyeth's R&D pipeline (Phase I-registration) 158
List of Figures
Figure 1: Wyeth prescription pharmaceutical performance, sales ($m) and growth rate (%), 2001-13 5
Figure 2: Wyeth's financial performance ($m), 2001-13 6
Figure 3: Pfizer, Wyeth and combined Pfizer-Wyeth prescription pharmaceutical performance, sales ($bn), 2008-13 8
Figure 4: Blockbusters shape Wyeth's outlook and mask launch performance 11
Figure 5: Reducing S,G&A is key lever on raising operating profit margin 12
Figure 6: Wyeth SWOT analysis 13
Figure 7: Top 10 product sales ($m), forecast vs. actual, 2008 21
Figure 8: Current corporate structure 37
Figure 9: Pharmaceuticals business unit structure 38
Figure 10: Wyeth prescription pharmaceutical performance, sales ($m) and growth rate (%), 2001-13 41
Figure 11: Wyeth key sales growth driver & resistors ($m), 2001-07 44
Figure 12: Wyeth key sales growth drivers & resistors ($m), 2007-13 46
Figure 13: Wyeth prescription pharmaceutical sales by therapy area ($m), 2001-13 47
Figure 14: Wyeth prescription pharma sales by therapy area (% of total), 2001-13 52
Figure 15: Wyeth prescription pharmaceutical sales by geographic region ($m), 2001-13 53
Figure 16: Wyeth growth drivers and resistors by geographic region ($m), 2001-07 54
Figure 17: Wyeth drivers and resistors by geographic region ($m), 2007-13 55
Figure 18: Wyeth prescription pharmaceutical sales by geographic region (% of total), 2001-13 57
Figure 19: Wyeth launch/core/expiry configuration ($m), 2007-13 62
Figure 20: Wyeth prescription pharmaceutical sales by molecule type ($m), 2001-13 64
Figure 21: Wyeth growth drivers and resistors by molecule type ($m), 2007-13 67
Figure 22: Wyeth prescription pharmaceutical sales by source ($m), 2001-13 69
Figure 23: Wyeth growth drivers and resistors by source ($m), 2001-07 70
Figure 24: Wyeth growth drivers and resistors by source ($m), 2007-13 72
Figure 25: Wyeth operating revenue/cost analysis ($m), 2001-13 78
Figure 26: Wyeth operating cost ratio analysis (% of total revenues), 2001-13 82
Figure 27: Wyeth return on capital employed, EBIT margin and capital turnover, 2001-07 85
Figure 28: Return on capital employed formula 89
Figure 29: Wyeth market capitalization ($ billion), 2001-07 92
Figure 30: Wyeth total shareholder returns vs. S&P 500 ($m), 2001-07 93
Figure 31: Prevnar and Prevnar-13 global sales ($m), 2007-13 118
Figure 32: Different scenarios: Protonix 150
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-2009.html
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