Biotech Values

[biotech_researcher]

Dew, your math with PFE needs a little work as you compare your "annualized" emerging market to the 2Q12 sales results of PFE.

You said, "The base is not small. In 2Q12, PFE had $10.5B of annualized sales in emerging markets".

I didn't dig back to where you got that data. Let's convert that back to $2.6B per quarter. What were the actual China sales, by the way?



So from below the US sales $5.7B, + Int'l $9.3B, yields $15B total for Q2. Emerging markets is then $2.6B /$15B = 17% of total sales. As I said, it is a start, and represents the fastest growth area.

NEW YORK, N.Y., Tuesday, July 31, 2012 – Pfizer Inc. (NYSE: PFE) today reported financial
results for second-quarter 2012. Second-quarter 2012 revenues were $15.1 billion, a decrease of
9% compared with $16.5 billion in the year-ago quarter, which reflects an operational decline of
$977 million, or 6%, and the unfavorable impact of foreign exchange of $451 million, or 3%.
For second-quarter 2012, U.S. revenues were $5.7 billion, a decrease of 15% compared with the
year-ago quarter. This decrease was primarily the result of the U.S. loss of exclusivity of Lipitor
on November 30, 2011. International revenues were $9.3 billion, a decrease of 5% compared