Slide 1: Pfizer Announcement Related to AstraZeneca
Pfizer Announcement Related to AstraZeneca April 28, 2014
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. Actual results could differ materially from those projected in the forward-looking statements. The factors that could cause actual results to differ ar
Slide 4: Agenda
Agenda ● Potential Offer Background & Summary ● Pfizer Overview ● Potential Pfizer + AstraZeneca Combination ● Next Steps 4
Slide 5: Prepared Remarks
Prepared Remarks Ian Read Chairman and Chief Executive Officer
Slide 6: Potential Offer Background & Summary
Potential Offer Background & Summary
Slide 7: Background
Background ● Pfizer previously submitted a preliminary, non-binding indication of interest to AstraZeneca’s Board In January, Pfizer’s proposal included a combination of cash and shares which represented an indicative value of £46.61 ($76.62) per share (based on Pfizer’s closing share price of $30
Slide 8: Why This Is The Right Time
Why This Is The Right Time ● Pfizer has strong standalone operating and financial momentum New commercial structure driving strong operating performance, financial focus and a clear vision towards value creation ● Potential combination with AstraZeneca aligns with Pfizer’s operating structure in b
Slide 9: Why Potential Offer Should Be Highly Compelling for AstraZeneca Shareholders
Why Potential Offer Should Be Highly Compelling for AstraZeneca Shareholders ● Potential to realize a significant premium Significant premium to the undisturbed AstraZeneca share price as of April 17, 2014 Substantial cash payment ● Opportunity to share in Pfizer value upside over medium / long-
Slide 10: Why the Potential Combination Would Bring Benefits to Pfizer
Why the Potential Combination Would Bring Benefits to Pfizer ● Would enable acceleration of our business strategy and strengthen competitive position Would enhance global offerings for Innovative businesses while also creating a stronger research platform in key areas and increasing new product la
Slide 11: Pfizer Overview
Pfizer Overview
Slide 12: Pfizer Profile
Pfizer Profile NEARLY $52 BILLION manufacturing 150 Revenue in 2013 countries products with sales >$1 sites worldwide (as of in which Pfizer billion in 2013 4Q’13) sells products NEARLY $18 Approximately 78,600 BILLION colleagues around the R&D partner institutions of Cash Flow from to shareholders
Slide 13: From Advil to Zithromax…
From Advil to Zithromax… Our Medicines, Vaccines and Consumer Health Products Help Billions of Patients Every Year 13
Slide 14: New Commercial Structure
New Commercial Structure ● Announced internal separation of our commercial and management structure into three businesses effective at the start of fiscal 2014 Global Innovative Pharma Vaccines, Oncology and Global Established Pharma Consumer Healthcare Geno Germano, Group President Albert Bourla, G
Slide 15: Proven Track Record of Strong Integration
Proven Track Record of Strong Integration ● Long history of strong integration of transformational business combinations Prior examples of Pharmacia and Wyeth ● Wyeth example of strong cost rationalization experience Wyeth-related synergy targets of $4B from the combined companies Exceeded Wye
Slide 16: Potential Pfizer + AstraZeneca Combination
Potential Pfizer + AstraZeneca Combination
Slide 17: Strategic Rationale for Combination of Pfizer and AstraZeneca
Strategic Rationale for Combination of Pfizer and AstraZeneca Expect positive growth driven by leading Innovative businesses operating at a global scale Complementary strategic fit across multiple key therapeutic areas with enhanced global offerings Innovative Businesses Steady stream of poten
Slide 18: Strategic Rationale: Complementary Innovative Portfolios
Strategic Rationale Complementary Innovative Portfolios Global Innovative Pharma Vaccines, Oncology, Consumer (GIP) Health (VOC) ● Complementary attractive Pfizer AstraZeneca Pfizer AstraZeneca portfolios across multiple key therapeutic areas Inflammation Xeljanz Lesinurad Vaccines Prevnar FluMist &
Slide 19: Strategic Rationale: Complementary Innovative Pipelines
Strategic Rationale Complementary Innovative Pipelines, Strengthens Key TAs Global Innovative Pharma Vaccines, Oncology, Consumer ● Strong combined pipeline (GIP) Health (VOC) driving potential innovative growth Pfizer AstraZeneca Pfizer AstraZeneca Inflammation PD-0360324 Brodalumab Vaccines MnB va
Slide 20: Strategic Rationale: Complementary Established Portfolios
Strategic Rationale Complementary Established Portfolios Global Established Products Scale and Breadth to Maximize Potential (GEP) of Established Portfolios Pfizer AstraZeneca ● Increased critical mass for market access and cost Primary & Lipitor, Celebrex, Symbicort Viagra (ex-US), Revatio, Pulmico
Slide 21: Next Steps
Next Steps
Slide 22: Next Steps
Next Steps ● Pfizer would like to negotiate a possible combination on a friendly basis Hope to continue discussions with AstraZeneca Begin engagement with other key stakeholders of both companies ● UK Takeover Code provides 28 day window after today’s announcement Pfizer may either announce a
Slide 23: Q&A Session
Q8&A Session April 28, 2014