Poor Pfizer. Industry insiders fear a planned marketing push for Exubera, fast becoming the US giant’s highest-profile disappointment, will be in vain.
Analysts were forecasting blockbuster annual sales of $2bn (£1.01bn, E1.49bn) for the insulin spray. It delivered just $4m in the second quarter of 2007 – the first time Pfizer disclosed sales of the product.
In July, Pfizer launched a massive television and print ad campaign in the US to jump-start sales. Reducing the number of inhalers produced is a clear indication management are unsure their next campaign will have much impact on sales.
The cutbacks are spelt out in a report filed with the US Securities and Exchange Commission by West Pharmaceutical Services, the American drug technology firm that makes about 60% of the device.
It said: “We expect Pfizer’s high inventory levels and slower-than-expected demand will affect our fourth-quarter 2007 and full-year 2008 sales levels. In coordination with our customer, Nektar, we have reduced production to one shift per day at our dedicated facility beginning in the third quarter of 2007.”
More at The Business
Analysts were forecasting blockbuster annual sales of $2bn (£1.01bn, E1.49bn) for the insulin spray. It delivered just $4m in the second quarter of 2007 – the first time Pfizer disclosed sales of the product.
In July, Pfizer launched a massive television and print ad campaign in the US to jump-start sales. Reducing the number of inhalers produced is a clear indication management are unsure their next campaign will have much impact on sales.
The cutbacks are spelt out in a report filed with the US Securities and Exchange Commission by West Pharmaceutical Services, the American drug technology firm that makes about 60% of the device.
It said: “We expect Pfizer’s high inventory levels and slower-than-expected demand will affect our fourth-quarter 2007 and full-year 2008 sales levels. In coordination with our customer, Nektar, we have reduced production to one shift per day at our dedicated facility beginning in the third quarter of 2007.”
More at The Business
1 comment:
Apparently Pfizer was slow to begin making Exubera, initially assigned it to a sales team that was ill-prepared to explain it to doctors and didn't start advertising it until this summer. Some doctors also complain that Exubera costs too much and isn't covered by some insurers. Not to mention it looks like something you would find in a college frat house.
With the black-labeling of several of the key prescription medications on the market, Pfizer had a great opportunity to jump ahead and blew it.
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