Pfizer's Q2 sales get boost from specialty drugs

NEW YORK Pfizer had a big increase in sales and a modest increase in profits during second quarter 2010, according to a financial statement released Tuesday.

The world’s largest drug maker had $17.3 billion in sales and $2.5 billion in profits, compared with $11 billion in sales and $2.3 billion in profits in second quarter 2009, representing respective increases of 58% and 9%.

The increase in sales included a 165% increase in sales of specialty drugs, from $1.4 billion in second quarter 2009 to $3.8 billion this quarter, stemming from Pfizer’s purchase of Wyeth. Cancer drug sales decreased by 2%, from $355 million to $349 million, while primary care drugs increased from $5.2 billion to $5.9 billion, and established products increased from $1.7 billion to $2.7 billion. Biotech drug sales increased from $10 billion to $15 billion.