Pfizer Inc. is a global biopharmaceutical company dedicated to the discovery, development, manufacture, marketing, sale, and distribution of biopharmaceutical products worldwide . The company operates primarily through its Biopharma segment, which significantly contributes to its total revenues . Pfizer's product offerings include major products like Comirnaty and Paxlovid, alongside other notable products such as Eliquis, the Prevnar family, and the Vyndaqel family .
- Biopharma Segment - Focuses on the development and commercialization of biopharmaceutical products, contributing significantly to the company's revenues.
- Oncology - Includes products like Ibrance, Xtandi, and Inlyta, aimed at treating various types of cancer .
- Primary Care - Features products such as Eliquis, the Prevnar family, and Paxlovid, addressing common health conditions .
- Specialty Care - Offers products like Xeljanz and the Vyndaqel family, targeting specific medical needs .
- Pfizer Ignite - Engages in business development activities, including acquisitions and collaborations, to enhance the product pipeline and market presence .
- PC1 - Involves other business activities that support the company's overall operations .
You might also like
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Albert Bourla ExecutiveBoard | Chairman and CEO | None mentioned | Chairman since January 2020 and CEO since January 2019. Has been with Pfizer for decades, leading strategic transformations and vaccine development. | View Report → |
Aamir Malik Executive | Chief U.S. Commercial Officer and EVP | None mentioned | Joined Pfizer in 2021. Leads U.S. commercial operations. | |
Alexandre de Germay Executive | Chief International Commercial Officer and EVP | None mentioned | Joined Pfizer in December 2023. Previously CEO of Laboratoires Majorelle and held leadership roles at Sanofi. | |
Chris Boshoff Executive | Chief Scientific Officer and President, R&D | None mentioned | Joined Pfizer in 2017. Recently appointed Chief Scientific Officer effective January 2025. | |
David M. Denton Executive | CFO and EVP | Director of Haleon plc | CFO since May 2022. Previously CFO at Lowe’s Companies and CVS Health. | |
Douglas M. Lankler Executive | General Counsel and EVP | None mentioned | General Counsel since December 2013. Previously Chief Compliance and Risk Officer at Pfizer. | |
Lidia Fonseca Executive | Chief Digital and Technology Officer and EVP | Director of Medtronic plc | Chief Digital and Technology Officer since January 2019. Leads digital transformation and technology initiatives. | |
Michael McDermott Executive | Chief Global Supply Officer and EVP | None mentioned | Chief Global Supply Officer since January 2022. Oversees Pfizer’s manufacturing and supply chain operations. | |
Mikael Dolsten Executive | Chief Scientific Officer and President, R&D | Director of Agilent Technologies, Inc. and Vimian Group AB | Joined Pfizer in 2009. Leads R&D efforts, overseeing numerous regulatory approvals. Transitioning out of role by February 2025. | |
Payal Sahni Executive | Chief People Experience Officer and EVP | None mentioned | Joined Pfizer in 1997. Leads HR and people experience initiatives. | |
Rady A. Johnson Executive | Chief Compliance, Quality and Risk Officer and EVP | None mentioned | Chief Compliance, Quality and Risk Officer since January 2019. | |
Sally Susman Executive | Chief Corporate Affairs Officer and EVP | None mentioned | Chief Corporate Affairs Officer since January 2019. Oversees communications and public affairs. | |
Dan R. Littman Board | Independent Director | Scientific Advisory Board Member at Vedanta Biosciences, Immunai, and others; Investigator at Howard Hughes Medical Institute | Independent Director since 2018. Renowned immunologist and molecular biologist. | |
Helen H. Hobbs Board | Independent Director | Investigator at Howard Hughes Medical Institute; Professor at UT Southwestern; Director of McDermott Center for Human Growth and Development | Independent Director. Renowned geneticist and researcher. | |
James C. Smith Board | Independent Director | Chairman of Thomson Reuters Foundation; Board Member of Marshall University and Brookings Institution | Independent Director since 2014. Former CEO of Thomson Reuters Corporation. | |
James Quincey Board | Independent Director | Chairman and CEO of The Coca-Cola Company; Director of US-China Business Council and Catalyst | Independent Director since 2020. Brings expertise in business leadership and international markets. | |
Joseph J. Echevarria Board | Independent Director | Chairman of The Bank of New York Mellon Corporation; Director of Unum Group; President of the University of Miami | Independent Director since 2015. Former CEO of Deloitte LLP. | |
Ronald E. Blaylock Board | Independent Director | Founder of GenNx360 Capital Partners; Director of CarMax, Inc. and W.R. Berkley Corporation; Trustee at Carnegie Hall and NYU Stern | Independent Director since 2017. Brings expertise in private equity and investment banking. | |
Scott Gottlieb Board | Independent Director | Partner at New Enterprise Associates; Director at Illumina, Aetion, Tempus, and National Resilience; Contributor to CNBC | Independent Director since 2019. Former FDA Commissioner (2017–2019). | |
Shantanu Narayen Board | Lead Independent Director | Chairman and CEO of Adobe Inc.; Vice Chairman of US-India Strategic Partnership Forum | Independent Director since 2013. Brings expertise in technology and international business. | |
Susan Desmond-Hellmann Board | Independent Director | Board Member of National Resilience, Inc. and Stand Up To Cancer; Adjunct Professor at UCSF; Member of PCAST | Independent Director since 2020. Renowned for her expertise in medicine, healthcare, and academia. | |
Susan Hockfield Board | Independent Director | Board Member of Repertoire Immune Medicines, Cajal Neuroscience, and Break Through Cancer; Member of Koch Institute at MIT | Independent Director since 2020. Former President of MIT and renowned neuroscientist. |
-
Given that operating cash flow is significantly below typical levels this year due to timing of payments and one-time expenses, how does Pfizer plan to maintain and grow its dividend over time while also deleveraging the balance sheet to meet its gross leverage target of 3.25x?
-
With the expected continued focus on execution to deliver in the second half, considering the seasonality of respiratory products, can you elaborate on the specific risks that might prevent Pfizer from achieving its raised revenue guidance and how you plan to mitigate them?
-
You mentioned aiming to return to pre-pandemic operating margins on a mix-adjusted basis, excluding COMIRNATY; given that your Manufacturing Optimization Program's $1.5 billion in savings won't be fully realized until 2027, what additional measures are you taking to improve margins in the near term, especially as you head into IRA territory?
-
Regarding the next-generation Prevnar vaccine, with competitors potentially offering higher serotype coverage, how confident are you in your ability to retain market leadership, and can you provide more specifics on the serotype coverage and timeline for your next-gen PCV candidate?
-
Considering the importance of ELREXFIO in achieving your oncology strategy goals, and in light of a competitive market, what gives you confidence in the $4 billion opportunity, and can you share any early indicators from the launch that support this target?
Research analysts who have asked questions during PFIZER earnings calls.
Courtney Breen
AllianceBernstein
7 questions for PFE
Evan Seigerman
BMO Capital Markets
7 questions for PFE
Mohit Bansal
Wells Fargo & Company
7 questions for PFE
Steve Scala
Cowen
7 questions for PFE
Terence Flynn
Morgan Stanley
7 questions for PFE
David Risinger
Leerink Partners
6 questions for PFE
Umer Raffat
Evercore ISI
6 questions for PFE
Akash Tewari
Jefferies
5 questions for PFE
Asad Haider
Goldman Sachs
5 questions for PFE
Kerry Holford
Berenberg
5 questions for PFE
Rajesh Kumar
HSBC
5 questions for PFE
Trung Huynh
UBS Group AG
5 questions for PFE
Vamil Divan
Guggenheim Securities
5 questions for PFE
Chris Schott
JPMorgan Chase & Co.
4 questions for PFE
Alexandria Hammond
Wolfe Research
3 questions for PFE
Christopher Schott
JPMorgan Chase & Co.
3 questions for PFE
Geoffrey Meacham
Citi
3 questions for PFE
Alex Hammond
Sidoti & Company, LLC
2 questions for PFE
Carter L. Gould
Barclays
2 questions for PFE
Chris Shibutani
Goldman Sachs Group, Inc.
2 questions for PFE
Geoff Meacham
Citigroup Inc.
2 questions for PFE
Srikripa Devarakonda
Truist Financial Corporation
2 questions for PFE
Tim Anderson
Bank of America
2 questions for PFE
Timothy Anderson
BofA Securities
2 questions for PFE
Dave Risinger
Leerink Partners
1 question for PFE
Louise Chen
Cantor Fitzgerald
1 question for PFE
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Seagen Inc. | 2023 | Pfizer acquired Seagen Inc. for $229 per share in cash, totaling an enterprise value of about $43 billion, financed partly with $31 billion in new long‐term debt. This move strengthens Pfizer’s oncology portfolio by adding Seagen’s ADC technology and four approved cancer treatments expected to contribute over $10 billion in risk-adjusted revenues by 2030. |
Global Blood Therapeutics | 2022 | Pfizer acquired Global Blood Therapeutics for $68.50 per share in cash, approximately $5.3 billion in total consideration plus $331 million for debt repayment. The acquisition reinforces Pfizer’s expansion into rare diseases by adding key assets—including Oxbryta, GBT601, and inclacumab—for addressing sickle cell disease. |
Biohaven Pharmaceuticals | 2022 | Pfizer acquired Biohaven Pharmaceuticals for $148.50 per share in cash, with a total transaction value of about $11.5 billion, including settlements for third‐party debt and preferred stock. This strategically expands Pfizer’s migraine treatment portfolio, incorporating CGRP programs such as Rimegepant and anticipating regulatory milestones for Zavegepant. |
ReViral | 2022 | Pfizer acquired ReViral for a total consideration of up to $536 million, with $436 million upfront and an additional $100 million tied to development milestones. The deal, treated as an asset acquisition, brought the antiviral asset sisunatovir and included a $426 million in-process R&D charge, enhancing Pfizer’s clinical-stage pipeline. |
Arena Pharmaceuticals | 2022 | Pfizer acquired Arena Pharmaceuticals for $100 per share in cash, totaling $6.6 billion (net $6.2 billion) while recording significant intangible assets of $5.5 billion in IPR&D and licensing. This acquisition adds a portfolio of immuno-inflammatory therapy candidates, including etrasimod, supporting a broad expansion in gastrointestinal, dermatologic, and cardiologic treatment areas. |
Recent press releases and 8-K filings for PFE.
- Pfizer’s request for a temporary restraining order to block Metsera from terminating their merger agreement was denied by the Delaware Chancery Court, but Pfizer will continue to pursue its breach-of-contract claims in ongoing litigation.
- The company asserts that Novo Nordisk’s competing proposal is illegal and intends to advance parallel antitrust litigation to challenge the transaction structure.
- Pfizer highlights an FTC letter warning Metsera and Novo Nordisk that proceeding could trigger transaction unwinding, refunds, liabilities and daily civil penalties.
- Q3 revenue totaled $41.9 million, down from $102.4 million a year ago, primarily due to completion of Novartis agreements, partially offset by a $20 million milestone payment.
- GAAP R&D expenses fell to $64.7 million (–$22.2 million y/y) and GAAP G&A expenses declined to $21.0 million (–$54.8 million y/y), reflecting lower external program costs and lease terminations.
- Cash, cash equivalents, and marketable securities stood at $787.6 million as of September 30, 2025, providing runway into the second half of 2028 under current plans.
- Key pipeline developments include FDA acceptance of the vepdegestrant NDA (PDUFA June 5, 2026), positive Phase 1 data for ARV-102 in Parkinson’s, and new preclinical results for ARV-806 and ARV-027.
- Comirnaty vaccine sales fell 25% and Paxlovid treatment sales dropped 55%, driving a 6% year-over-year revenue decline despite outperforming expectations.
- Q3 adjusted EPS of $0.87 topped forecasts of $0.63, and full-year profit guidance was raised to $3.00–$3.15 per share.
- A $7.2 billion cost-saving plan through 2027 was announced to bolster margins amid global trade headwinds.
- Strong performance of non-COVID drugs like Eliquis and Vyndaqel helped offset pandemic-related revenue pressures and support outlook.
- The U.S. CDC’s shift to a patient-choice model for COVID vaccinations has led to lower vaccination rates, further depressing product demand.
- Revenues of $16.7 billion in Q3’25, down 7% operationally driven by declines in COVID products, while non-COVID portfolio grew 4% op
- Adjusted diluted EPS of $0.87, above expectations due to strong gross margin and cost management, despite a $0.20 R&D headwind from the 3SBio deal
- Planned $4.9 billion MedSera acquisition, cleared early by the FTC, with ongoing legal action to enforce Pfizer’s merger agreement
- Raised full-year 2025 adjusted EPS guidance, with revenue guidance of $61–$64 billion, adjusted R&D of $10–$11 billion, and an ~11% effective tax rate
- Key pipeline progress includes obesity candidate SSGJ-707 licensing, oncology updates on Padcev and Embark, resumed Oxbryta studies, and strong growth in Vyndaqel and Prevnar vaccines
- Pfizer delivered $16.7 billion in Q3 revenues (-7% YoY) and $0.87 adjusted diluted EPS (-16% YoY).
- Reaffirmed 2025 revenue guidance at $61.0–$64.0 billion and raised adjusted EPS guidance to $3.00–$3.15.
- Advanced strategic milestones with a voluntary U.S. Government pricing agreement, a proposed Metsera acquisition, and closing of the 3SBio oncology licensing deal.
- Continued commercial momentum with 7% operational growth in key categories and $7.3 billion YTD Q3 revenue from recent launches and acquisitions.
- Q3 2025 revenues of $16.7 B (−7% operationally) driven by 4% growth in non-COVID products, with adjusted EPS of $0.87
- Maintained FY2025 revenue guidance at $61–64 B and raised adjusted EPS to $3.00–3.15
- Planned acquisition of Metsera for $4.9 B, expected $0.16 EPS dilution in 2026, plus $0.05 dilution from 3SBio, post early FTC clearance
- Cost realignment on track for $4.5 B net savings by end-2025 and $7.7 B by 2027, including $1.5 B from manufacturing optimization (phase I)
- Newly launched and acquired products generated $7.3 B YTD (+9% operationally)
- Revenue of $16.7 billion, down 7% operationally versus Q3 2024, driven by lower COVID-19 product volumes; non-COVID products grew 4% year-over-year.
- Reported diluted EPS of $0.62 and adjusted EPS of $0.87, including a $0.20 headwind from in-process R&D related to the 3SBio transaction.
- Full-year 2025 guidance reiterated: revenues $61 billion–$64 billion, adjusted EPS raised to $3.00–$3.15, R&D spend $10 billion–$11 billion, and an effective tax rate of ~11%.
- M&A activity: announced planned MedSera acquisition for $4.9 billion (expected $0.16 EPS dilution in 2026) amid a legal challenge to a rival bid by Novo Nordisk under antitrust grounds.
- Cost-saving initiatives on track: targeting $4.5 billion in cumulative net savings by end-2025 and $7.7 billion by end-2027, including $1.5 billion from manufacturing optimization by 2027.
- Pfizer raised full-year 2025 adjusted EPS guidance to $3.00–$3.15, up from $2.90–$3.10.
- The company reaffirmed revenue guidance at $61 B–$64 B.
- Q3 2025 revenue was $16.65 B, down 6% year over year due to reduced COVID-19 product sales.
- Q3 2025 adjusted EPS was $0.87, versus $1.06 a year earlier and above consensus.
- R&D spending forecast for 2025 was lowered to $10 B–$11 B, and Pfizer targets $7.2 B in net cost savings by 2027.
- Pfizer generated $16.7 B in third-quarter revenues (–6% reported, –7% operational) with adjusted EPS of $0.87 and reported EPS of $0.62.
- Reaffirms full-year 2025 revenue guidance of $61.0–$64.0 B and raises and narrows adjusted diluted EPS guidance to $3.00–$3.15.
- Non-COVID portfolio revenues grew 4% operationally, driven by strong performance across key products such as Eliquis and Nurtec ODT/Vydura.
- Secured a landmark agreement with the U.S. government to ensure drug-price parity and obtained early FTC clearance for the proposed Metsera acquisition in obesity.
- On track to deliver approximately $7.2 B in net cost savings by end-2027 from ongoing cost improvement initiatives.
- USD 30 million milestone payment to Basilea triggered by strong European sales of Cresemba (isavuconazole) under Pfizer’s license agreement.
- Cresemba’s total global in-market sales reached USD 652 million in the 12 months ended June 2025, reflecting 27% year-on-year growth.
- Cresemba is approved and marketed in more than 70 countries, including the United States, EU member states, Japan and key Asia Pacific markets.
- The milestone underscores continued demand acceleration for isavuconazole in treating invasive fungal infections in Europe.