Slide 1: Third Quarter 2020 Earnings Teleconference
Third Quarter 2020 Earnings Teleconference October 27, 2020
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 l Our discussions during this conference call will include forward-looking statements about, among other things, our anticipated future operating and financial performance, business plans and prospects, expectations for our product pipeli
Slide 4: Opening Remarks
Opening Remarks Albert Bourla Chairman and Chief Executive Officer
Slide 5: Q3 2020 Biopharma Revenues Grew 4% Operationally; 7% Op YTD
Q3 2020 Biopharma Revenues Grew 4% Operationally; 7% Op YTD Biosimilars $1,357M +6% op $195M +41% op $351M; $158M U.S.(1) $424M +80% op U.S. $909M, +9% U.S. $124M, +34% >17,500 patients diagnosed; Oncology: $261M +223% op, incl. Int'l $448M, +1% op (+26% volume) Int'l $71M, +55% op >12,000 got presc
Slide 6: Upjohn Q3 2020 Performance
Upjohn Q3 2020 Performance Revenues $1,916M (18%) op Decline driven primarily by Lyrica in U.S., Lipitor and Norvasc in China, and Celebrex in Japan China Revenues (21%) op Driven by lower revenues for Lipitor and Norvasc due to impact of the volume-based procurement program Celebrex in Japan (62%)
Slide 7: Updates on COVID-19 Programs
Updates on COVID-19 Programs Phase 3 Trial for mRNA Vaccine Candidate Ongoing - At approximately 150 clinical trial sites in 6 countries - Enrolled more than 42,000 participants with nearly 36,000 having received 2nd dose as of October 26 - Expanded planned enrollment from 30,000 to ~44,000 Potentia
Slide 8: Other Selected Pipeline Updates
Other Selected Pipeline Updates RARE DISEASE ONCOLOGY • Duchenne Muscular Dystrophy gene therapy • Next generation CDK inhibitor programs ◦ No serious adverse events observed in the 10 boys ◦ CDK4-selective inhibitor shown preclinically to treated using a modified immunomodulatory and target CDK4 wi
Slide 9: Other Selected Pipeline Updates (Continued)
Other Selected Pipeline Updates (Continued) INFLAMMATION & IMMUNOLOGY VACCINES • Abrocitinib (JAK1) • Valneva agreement (Lyme Disease) ◦ New drug application for treatment of moderate to ◦ Our partner Valneva announced positive results for severe atopic dermatitis in patients 12 and up has second Ph
Slide 10: Financial Review
Financial Review Frank D'Amelio Chief Financial Officer and Executive Vice President, Global Supply
Slide 11: Quarterly Income Statement Highlights
Quarterly Income Statement Highlights TOTAL COMPANY BIOPHARMA UPJOHN REVENUE REVENUE REVENUE $12.1B (4%) op $10.2B +4% op $1.9B (18%) op Excluding the impact of Consumer, Includes COVID-19 impact of -4% in Q3; Primarily driven by Lyrica in the U.S., Lipitor total revenue declined 1% op Grew 7% op YT
Slide 12: Key Assumptions in FY 2020 Financial Guidance
Key Assumptions in FY 2020 Financial Guidance(1) Ü Continues to include only at-risk spending on COVID vaccine candidate but does not include any potential revenue that could be received this year if vaccine is authorized and doses are delivered to various governments with whom we have agreements Ü
Slide 13: 2020 Financial Guidance for Total Company
2020 Financial Guidance for Total Company(1) $48.8 to $49.5 billion Revenues (previously $48.6 to $50.6 billion) 20.2% to 20.7% Adjusted Cost of Sales(1) as a Percentage of Revenues (previously 19.5% to 20.5%) $11.5 to $12.0 billion Adjusted SI&A Expenses(1) (previously $11.5 to $12.5 billion) $8.8
Slide 14: 2020 Financial Guidance for New Pfizer and Upjohn
2020 Financial Guidance for New Pfizer(1) and Upjohn(1) NEW PFIZER(1) Current Guidance Previous Guidance Difference Revenues $40.8 to $42.4 billion $40.8 to $42.4 billion No Change Adjusted IBT Margin(1) Approximately 37.0% Approximately 37.0% No Change Adjusted Diluted EPS(1) $2.28 to $2.38 $2.28 t
Slide 15: Key Takeaways
Key Takeaways Delivered a solid quarter in Q3 2020, highlighted by 4% operational revenue growth from our Biopharma business Updated and tightened the ranges for certain components of Total Company(1) 2020 financial guidance, including a slight increase to the midpoint of the Adjusted Diluted EPS(1)
Slide 16: Third Quarter 2020 Earnings Teleconference Q&A Session
Third Quarter 2020 Earnings Teleconference Q&A Session October 27, 2020
Slide 17: Footnotes (1 of 2)
Footnotes (1 of 2) (1) Revenues is defined as revenues in accordance with U.S. generally accepted accounting principles (GAAP). Reported net income and its components are defined as net income attributable to Pfizer Inc. and its components in accordance with U.S. GAAP. Reported diluted earnings per
Slide 18: Footnotes (2 of 2)
Footnotes (2 of 2) (7) The following acquisitions and other business development activity impacted financial results for the periods presented: • On June 8, 2020, Valneva SE (Valneva) announced that the antitrust-related condition precedent was met and, consequently, the agreement between Valneva an