Pfizer drug Lyrica outperforms

Sales of the Pfizer drug Lyrica are reportedly on track to exceed the pharmaceutical giant’s expectations.

Forbes reports that the pain and epilepsy treatment is set to beat all Pfizer predictions and break through the $900 million value for total sales in 2006 so far.

And this strong performance has encouraged Bear Stearns, the investment banking, securities trading and brokerage firm, to issue an outperform rating on Pfizer’s stock, according to Forbes.

“Lyrica’s rapid US and international ramp support our outlook contingent on sustained uptake,” analyst John Boris said.

“We believe the street is underestimating Lyrica’s potential, as the brand carries higher margins than Neurontin [Lyrica’s predecessor], is priced competitively against generics, has multiple points of differentiation, and is one of the most studied central-nervous-system products.”

At the end of March, Lyrica was approved for the treatment of Generalised Anxiety Disorder in Europe.

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