CLAIM #48419 · Pfizer Inc (PFE) · 2024Q2 earnings call · Jul 30, 2024

“We share their view that we have the ability to navigate the impact of IRA on Eliquis. And Eliquis will be an important drug in our portfolio for the foreseeable future.”

Aamir Malik · EVP, Chief U.S. Commercial Officer

How to check this claim

Look at: Eliquis revenue (Pfizer-reported, e.g., alliance revenue/royalty from BMS collaboration)

It came true if: Eliquis revenue reported by Pfizer in FY2025 and FY2026 does not decline more than 10% year-over-year despite IRA price impact

Where: Pfizer quarterly/annual earnings release and 10-K revenue by product disclosures

Knowable after: 2026-07-30

In context

“want to ask you about your views on the IRA, in particular, implications on revenue outlook for 2025 and 2026. Obviously, your employees, your partner Bristol on Eliquis made commentary that I think has been interpreted by the Street as being that this is a dynamic that could be manageable. We appreciate your specific reflections on the Pfizer portfolio. Thank you. Albert Bourla: Thanks, Chris. I will ask Aamir to speak a little bit about the Eliquis specifically. And then, Dave, can you cover the general impact of IRA? Aamir Malik: Chris, as you noted, BMS led the discussions with CMS on Eliquis maximum fair price because they are the NDA holder, and they shared their perspective on that process during their earnings call last week. Honestly, we don't have much to add to what they said. We share their view that we have the ability to navigate the impact of IRA on Eliquis. And Eliquis will be an important drug in our portfolio for the foreseeable future. Dave Denton: Yes. And then I would just add to that, as we look at IRA across our platform, first, I think we were very fortunate Pfizer that we had one product selected. And secondly, if you look at the remaining products that are likely to be – that could potentially be selected, they are nearing the end of their patent protection life. So if you think about it from a net present value perspective, the impact on Pfizer is somewhat muted as you think about it economically. I will say this is a piece of legislation that clearly is harmful for supporting research and development in the sector. So we're hopeful that this could be changed in the future, but we will continue to actively manage our way through this. Albert Bourla: Thank you, Dave. Operator, next question, please. Operator: [Op”

Verify independently

SEC filings for PFE ↗ · Quote is verbatim from the 2024Q2 earnings call.