Pfizer forecasts strong growth for key medicines, expects six new medicines this year

By Lisa Kerner

Erie, Pa., Feb. 10 - Pfizer Inc. said it forecasts strong growth for key in-line medicines in 2006, with Lipitor sales expected to top $13 billion, Celebrex sales expected to exceed $2 billion and Lyrica sales expected to reach $900 million.

Pfizer also said it expects to launch six new medicines this year while anticipating excellent prospects for Sutent, Exubera, Champix as well as new medicines for HIV/AIDS, cholesterol management, insomnia, schizophrenia and cancer.

The company addressed financial analysts Friday, outlining its "drivers of value" for 2006-2008, including growth of its key in-line medicines and enhanced research and development.

Pfizer noted it is executing a wide-ranging strategy to transform all areas of its business, grow current and new medicines, drive productivity improvements and launch innovative patient-centered health care initiatives, according to a company news release.

The company released highlights of its financial forecast, including 2006 reported diluted earnings per share expected to be $1.52 to $1.56 and 2006 cash flow from operations expected to top $16 billion. Pfizer said it is continuing to evaluate strategic options for its Pfizer Consumer Healthcare business.

According to the release, Pfizer is establishing leadership in new areas of biologics and oncology; with 22 mid- and early stage candidates in its oncology pipeline. It is reducing its worldwide plant network to 66 from 93, while investing in new technology and capacity for its next generation of medicines.

Pfizer also stressed its zero tolerance policy for patent infringement.

"This is a time of transformation for Pfizer and our industry," Hank McKinnell, Pfizer chairman and chief executive officer, said in the release. "We are rapidly adapting our business to effectively balance the demands of our customers, the needs of patients, and the interests of shareholders.

"Over the next three years, a new generation Pfizer will emerge, and our company will have the operating and financial strength to sustain value."

New York-based Pfizer Inc. engages in the discovery, development, manufacture and marketing of prescription medicines.

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