Pfizer's API business revenue falls 13% on lower international sales
Revenue generated by Pfizer’s API and contracting business fell in the second quarter.
The US drug firm’s contract manufacturing business – Pfizer CentreOne - generated $171m (€144m) in the three months to the end of June, down 13% on the year earlier quarter.
In the US, CentreOne – which is a unit of Pfizer’s Essential Health division - generated revenue of $132m, which is up $1m from the contribution in Q2 last year. In contrast, in international markets, the unit brought in $39m, down 39%.
The decline continues the trend seen in Q1 when the CentreOne unit’s revenue fell 8% to $182m as a result of lower international sales.
Pfizer’s total revenue for the second quarter was down 2% at $12.9bn.
