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 .
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Name | Position | External Roles | Short Bio | |
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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. |
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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?
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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?
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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?
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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?
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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
5 questions for PFE
David Risinger
Leerink Partners
5 questions for PFE
Evan Seigerman
BMO Capital Markets
5 questions for PFE
Mohit Bansal
Wells Fargo & Company
5 questions for PFE
Steve Scala
Cowen
5 questions for PFE
Terence Flynn
Morgan Stanley
5 questions for PFE
Trung Huynh
UBS Group AG
5 questions for PFE
Umer Raffat
Evercore ISI
4 questions for PFE
Akash Tewari
Jefferies
3 questions for PFE
Alexandria Hammond
Wolfe Research
3 questions for PFE
Asad Haider
Goldman Sachs
3 questions for PFE
Christopher Schott
JPMorgan Chase & Co.
3 questions for PFE
Geoffrey Meacham
Citi
3 questions for PFE
Kerry Holford
Berenberg
3 questions for PFE
Rajesh Kumar
HSBC
3 questions for PFE
Vamil Divan
Guggenheim Securities
3 questions for PFE
Carter L. Gould
Barclays
2 questions for PFE
Chris Schott
JPMorgan Chase & Co.
2 questions for PFE
Chris Shibutani
Goldman Sachs Group, 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
Louise Chen
Cantor Fitzgerald
1 question for PFE
Notable M&A activity and strategic investments in the past 3 years.
Company | Year | Details |
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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.
- Radiance Biopharma entered an exclusive license agreement with Novatim Immune Therapeutics for RB-601 (KY-0301), a first-in-class c-MET/EGFR bispecific nanobody ADC, granting worldwide rights outside Greater China.
- Financial terms include an $15 million upfront payment, up to $150 million in development and regulatory milestones, over $1 billion in commercial milestones, and tiered royalties.
- RB-601 utilizes a DAR of 4 with tuned EGFR affinity, releases a monomethyl auristatin E payload upon internalization, and has cleared INDs in China and the U.S., with a Phase 1 trial underway in advanced solid tumors.
- Basilea achieved total revenue of CHF 104.0 million in H1 2025, up 36.3% year-on-year, driven by royalty income of CHF 52.1 million and product revenue of CHF 31.5 million.
- Operating profit surged 160% to CHF 24.0 million, while operating cash flow rose 29% to CHF 23.1 million.
- Net profit of CHF 15.8 million (basic EPS CHF 1.29; diluted EPS CHF 1.26) compared with CHF 20.7 million a year ago.
- Strong liquidity position with CHF 132.7 million in cash and equivalents and a net cash balance of CHF 50.7 million as of June 30, 2025.
- FY 2025 guidance raised: total revenue now expected at CHF 225 million (up 8%) and operating profit of CHF 50 million.
- The European Commission authorized Moderna’s updated Spikevax vaccine targeting the Omicron LP.8.1 variant for individuals aged six months and older across the 27 EU member states, Iceland, Liechtenstein, and Norway.
- Health Canada approved Pfizer and BioNTech’s LP.8.1–adapted Comirnaty vaccine for the 2025–2026 season, to be distributed through public programs and streamlined for private insurer reimbursement.
- Analyst consensus sets a one-year average target price of $29.23 for Pfizer, implying approximately 16.58% upside, with a brokerage rating of 'Outperform'.
- Pfizer’s investigational sickle cell therapy inclacumab did not achieve a statistically significant reduction in vaso-occlusive crises compared with placebo in its late-stage Phase 3 trial over a 48-week period.
- Inclacumab, administered via intravenous infusion every 12 weeks in patients aged 16 and older, was generally well tolerated; common adverse events included anemia, joint pain, back pain, and headache.
- This trial failure follows Pfizer’s 2024 withdrawal of Oxbryta, raising doubts about realizing the estimated $3 billion revenue from its 2022 Global Blood Therapeutics acquisition.
- Despite these setbacks, analysts maintain a consensus “Outperform” rating on Pfizer with an average price target of $29.23, suggesting over 16% upside.
- Starboard Value boosted its Salesforce holdings by ~50% to 1.3 million shares as of June 30, despite a ~30% YTD stock decline.
- The activist raised its Pfizer stake by over 10%, pushing for a $1.5 billion cost-cutting program, including a $500 million realignment by 2027.
- Starboard criticized Pfizer’s pandemic-era spending on acquisitions like the $43 billion Seagen deal and highlighted underperforming R&D returns.
- Pfizer’s R&D pipeline faces risks with setbacks such as the safety-related withdrawal of Oxbryta.
- Analysts maintain a consensus Outperform rating with an average target price of $29.23 implying a 16.4% upside, while GuruFocus sees a 7.25% potential gain.
- Celcuity posted a net loss of $45.3 million ($1.04 per share) in Q2 2025, versus a $23.7 million loss ($0.62 per share) a year earlier.
- Total operating expenses rose to $44.0 million from $24.3 million, driven by R&D spending of $40.2 million and G&A of $3.8 million.
- Cash, cash equivalents, and short-term investments stood at $168.4 million at June 30, 2025, and pro forma liquidity reached $455 million, expected to fund operations through 2027.
- Completed concurrent offerings of 2.750% convertible senior notes due 2031, common stock and warrants, generating $286.5 million in net proceeds.
- Reported Phase 3 VIKTORIA-1 wild-type cohort data showing median PFS of 9.3 months (triplet) and 7.4 months (doublet) versus 2.0 months control, with NDA planned for Q4 2025.
- The Phase 3 trial showed that pre- and post-surgery administration of Padcev and Keytruda significantly improved event-free survival, overall survival, and complete pathological response in cisplatin-ineligible muscle-invasive bladder cancer patients vs surgery alone.
- This is the first systemic regimen to demonstrate practice-changing potential in earlier-stage bladder cancer for patients unable to receive cisplatin.
- Pfizer plans to seek global regulatory approval based on these mature results, engaging health authorities worldwide.
- Padcev, co-developed with Astellas, generated $1.59 billion in 2024 sales, representing about 2% of Pfizer’s total revenue; Keytruda is already approved for other urothelial cancers.
- A Frey et al. study found that using Depo-Provera for over one year is associated with a 3.5-fold increased risk of intracranial meningioma compared to combined birth control pills.
- Pfizer is facing over 550 lawsuits in MDL No. 3140 by US women alleging Depo-Provera caused brain tumours, up from 400 filings since May.
- Plaintiffs claim Pfizer knew of the risks but did not warn US users, despite adding warnings in Canada (2015), UK/Europe (Oct 2024), and South Africa (Feb 2025).
- Pfizer secured exclusive global (ex-China) rights to develop, manufacture and commercialize 3SBio’s bispecific antibody SSGJ-707 targeting PD-1 and VEGF.
- The deal includes an upfront payment of $1.25 billion, a $100 million equity investment, plus up to $150 million in option payments for China rights.
- SSGJ-707 has shown positive interim Phase 2 data in advanced non-small cell lung cancer and is set to enter Phase 3 global trials in NSCLC and other solid tumors, with manufacturing in North Carolina and Kansas.
- This agreement enhances Pfizer’s oncology pipeline in immuno-oncology and complements its antibody-drug conjugate portfolio.
- In a Phase 3 trial of 48 patients with hemophilia A or B and inhibitors, once-weekly Hympavzi injections cut annualized bleeding rates by 93% versus on-demand therapy.
- The study met primary and key secondary endpoints—including spontaneous, joint, target joint and total bleeds—with no deaths or thromboembolic events reported.
- Hympavzi’s novel mechanism targeting the tissue factor pathway inhibitor could offer a transformative option for the 20% of hemophilia A and 3% of hemophilia B patients with inhibitors.
- Pfizer plans to pursue regulatory approval and will present full data at upcoming medical conferences.