Pfizer's 2007 total revenue up slightly, sales of Lipitor see decline

NEW YORK Pfizer’s U.S. revenue decreased in 2007 as competition in the cholesterol market helped lead to an 8 percent decline in revenues for the world’s best selling drug, Lipitor.

The company’s 2007 total revenue of $48.6 billion was 1 percent better than its 2006 revenue of $48.4 billion. Domestically, the company’s revenue dropped 11 percent to $21.74 billion in 2007. Lipitor had revenue of about $7.2 billion in the U.S. last year compared with approximately $7.85 billion in 2006. Worldwide Lipitor revenues were approximately $12.7 billion, a 2 percent decrease from 2006.

Products in other markets fared much better. The smoking-cessation drug Chantix, which has been used by more than 5 million people worldwide, neared blockbuster status in 2007 with worldwide revenue of approximately $883 million.

The firm also posted strong results for its antiseizure medication Lyrica. The drug brought in $320 million during the fourth quarter of 2007 in the U.S., a 15 percent increase from the third quarter.