Pfizer’s ($PFE) Prevnar 13 sales were down in Q2 after management laid out low projections for the vaccine in 2016. But things could pick up again for Prevnar thanks to a new FDA approval.
Sales of Prevnar 13 fell 16% in Q2 2016 over the same quarter last year. Pfizer’s vaccines unit took a hit as a result, with a 14% drop in sales from last year’s Q2.
The poor performance comes after multiple units of solid growth for Prevnar. Prevnar sales jumped 45% in Q4 2015 and 44% for full-year 2015. Those increases are largely attributed to the CDC deciding in 2014 to recommend the jab for adults older than 65.
Execs said in a conference call that the Prevnar 13 franchise continues to be a significant contributor, but with approximately 30% of the adult population 65 and older having been vaccinated as of the end of June, achieving year-over-year growth is now more difficult. “We do expect overall global Prevnar franchise sales for the year will be comparable to slightly below 2015 levels.”
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