May 17, 2020

Pfizer's Benefits from Selling Animal Health Business

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3 min
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Written by Alyssa Clark Pfizers Benefits from Selling Animal Health Business Its not every day that a company can say that they have beaten or outsmar...

Written by Alyssa Clark

 

Pfizer’s Benefits from Selling Animal Health Business

It’s not every day that a company can say that they have beaten or outsmarted Wall Street— but after Pfizer’s second-quarter numbers were tallied, it seems that they have done just that, if not more. The company was able to do so in a way that some may call unorthodox, some may call lucky or some may call just making the right decision at the right time.

A company built upon the world of pharmaceuticals and manufacturing drugs, Pfizer stands as the second-largest drugmaker generating continuous revenue that has caught the attention of some of the most important healthcare companies domestic and abroad. With such big shoes to fill, and so many consumers and patients to serve, it is no wonder why Pfizer’s market seems to be ever-expanding as time continues to tick on.

Ironically, the benefit in the recent second-quarter numbers for Pfizer had nothing to do with drugs or any kind of pharmaceuticals, but it had everything to do with the company deciding to sell their animal health business. Not only did revenue improve with the loss of this part of Pfizer’s empire, but the company ended up quadrupling their revenue— yes, that is a real thing.

More traditional to Pfizer’s motive and business character, the biggest producer for this quarter was their cholesterol fighting drug Lipitor, as it was the seemingly most impressive drug in the U.S. for quite some time. It was the world’s best selling drug for nearly a decade, until losing its exclusivity in the U.S. and parts of Europe last year which led to a quite substantial drop in its value. With its patent expiring, the company expected this kind of decrease in value, and is one of the reasons it decided to sell the animal business, in order to offset the minor loss while simultaneously insuring that there would be no gross financial loss in the end.

The recorded numbers of the drop came to be a once $13 billion drug, now stands as a $484 million drug which translates directly to a whopping 55 percent decrease. How did Pfizer manage to still quadruple their earnings, amiss this kind of let down?

Quick-thinking and keeping their eyes on the future seems to be the answer. By proactively thinking to sell the animal health business, Pfizer knew that the revenue from the sell would be able to counteract the impact of the expiring patents, thus creating a place in the market for them to maintain their face and stature. This New York-based company is expected, and I imagine will, maintain its full-year adjusted earnings outlook of $2.10 and $2.20 per share, with reasearchers averaging the projected amount to rest at about $2.16 per share.

 

About the Author

Alyssa Clark is the Editor of Healthcare Global

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Jun 18, 2021

Skin Analytics wins NHSX award for AI skin cancer tool 

AI
NHS
skincancer
Cancer
2 min
Skin Analytics uses AI to detect skin cancer and will be deployed across the NHS to ease patient backlogs

An artificial intelligence-driven tool that identifies skin cancers has received an award from NHSX, the NHS England and Department of Health and Social Care's initiative to bring technology into the UK's national health system. 

NHSX has granted the Artificial Intelligence in Health and Care Award to DERM, an AI solution that can identify 11 types of skin lesion. 

Developed by Skin Analytics, DERM analyses images of skin lesions using algorithms. Within primary care, Skin Analytics will be used as an additional tool to help doctors with their decision making. 

In secondary care, it enables AI telehealth hubs to support dermatologists with triage, directing patients to the right next step. This will help speed up diagnosis, and patients with benign skin lesions can be identified earlier, redirecting them away from dermatology departments that are at full capacity due to the COVID-19 backlog. 

Cancer Research has called the impact of the pandemic on cancer services "devastating", with a 42% drop in the number of people starting cancer treatment after screening. 

DERM is already in use at University Hospitals Birmingham and Mid and South Essex Health & Care Partnership, where it has led to a significant reduction in unnecessary referrals to hospital.

Now NHSX have granted it the Phase 4 AI in Health and Care Award, making DERM available to clinicians across the country. Overall this award makes £140 million available over four years to accelerate the use of artificial intelligence technologies which meet the aims of the NHS Long Term Plan.

Dr Lucy Thomas, Consultant Dermatologist at Chelsea & Westminster Hospital, said: “Skin Analytics’ receipt of this award is great news for the NHS and dermatology departments. It will allow us to gather real-world data to demonstrate the benefits of AI on patient pathways and workforce challenges. 

"Like many services, dermatology has severe backlogs due to the COVID-19 pandemic. This award couldn't have come at a better time to aid recovery and give us more time with the patients most in need of our help.”

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