Slide 1: Third Quarter 2019 Earnings Teleconference
Third Quarter 2019 Earnings Teleconference October 29, 2019
Slide 2: Introduction
Introduction Chuck Triano Senior Vice President, Investor Relations
Slide 3: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements and Non-GAAP Financial Information Our discussions during this conference call will include forward-looking statements about, among other things, our anticipated future operating and financial performance, expectations for our product pipeline, in-line products and produ
Slide 4: Opening Remarks
Opening Remarks Albert Bourla Chief Executive Officer
Slide 5: CEO Perspectives
CEO Perspectives Delivered strong performance in Q3 2019, with 9% operational revenue growth in Biopharma, which represents the business that will remain after the anticipated close of the Mylan-Upjohn transaction Biopharma product highlights Ibrance grew 27% operationally, with strong growth
Slide 6: Select Pipeline Updates
Select Pipeline Updates INFLAMMATION & VACCINES RARE DISEASE INTERNAL MEDICINE ONCOLOGY IMMUNOLOGY • 20-valent Next-Gen • Hemophilia A gene • Abrocitinib (JAK1): • AKCEA-ANGPTL3- • Braftovi/Mektovi: Pneumococcal: therapy: Completed Announced positive LRx Licensing Presented positive Announced positi
Slide 7: Thoughts on Pfizer After Upjohn-Mylan Close
Thoughts on Pfizer After Upjohn-Mylan Close Following the anticipated closing of the Upjohn-Mylan transaction, Pfizer will become a smaller, science-based company with a singular focus on innovation All our current growth drivers and pipeline will remain with Pfizer after the transaction is clos
Slide 8: Financial Review
Financial Review Frank D'Amelio Chief Financial Officer and Executive Vice President, Business Operations & Global Supply
Slide 9: Income Statement Highlights
Income Statement Highlights ($ Millions, Except Per Share Third Quarter Amounts and Percentages) 2019 2018 Change Revenues $12,680 $13,298 (5%) Reported Net Income(1) 7,680 4,114 87% Reported Diluted EPS(1) 1.36 0.69 98% Adjusted Income(1) 4,214 4,580 (8%) Adjusted Diluted EPS(1) 0.75 0.77 (2%) Repo
Slide 10: Impact of Foreign Exchange on Revenues and Select Adjusted Income Components
Impact of Foreign Exchange on Revenues and Select Adjusted Income(1) Components ($ Millions, Except Percentages) Third Quarter Favorable / (Unfavorable) 2019 2018 FX Impact Revenues $12,680 $13,298 ($215) (2%) Adjusted Cost of Sales(1) 2,459 2,673 (48) (2%) COS as a Percentage of Revenues 19.4% 20.1
Slide 11: Updated 2019 Financial Guidance
Updated 2019 Financial Guidance(1) $51.2 to $52.2 billion Revenues (previously $50.5 to $52.5 billion) 19.3% to 19.8% Adjusted Cost of Sales(1) as a Percentage of Revenues (previously 20.1% to 21.1%) $13.5 to $14.0 billion Adjusted SI&A Expenses(1) (previously $13.0 to $14.0 billion) $7.7 to $8.1 bi
Slide 12: Key Takeaways
Key Takeaways Delivered a strong quarter, with revenues down only 3% operationally despite headwinds from generic competition for Lyrica in the U.S. in July and the completion of the Consumer Healthcare joint venture with GSK on July 31 Biopharma revenues grew 9% operationally, driven by Ibrance,
Slide 13: Third Quarter 2019 Earnings Teleconference Q&A Session
Third Quarter 2019 Earnings Teleconference Q&A Session October 29, 2019
Slide 14: Footnotes
Footnotes Financial Definitions Footnotes (1) The following acquisitions and divestitures impacted financial results for the periods presented: • On July 31, 2019, Pfizer and GlaxoSmithKline plc (GSK) completed a transaction that combined the two companies’ respective consumer healthcare businesses