Pfizer, Inc. · NYSE:PFE
Pfizer — Q4 2014 Earnings Presentation
16 slides from Pfizer's earnings presentation, Jan 27, 2015
Slide 1: Fourth Quarter 2014 Earnings Teleconference
Fourth Quarter 2014 Earnings Teleconference January 27, 2015
Slide 2: Introduction
Introduction Chuck Triano Senior Vice President, Investor Relations Fourth Quarter 2014 Earnings
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 future operating and financial performance, business plans and prospects, in-line products and product candidates, capita
Slide 4: Opening Remarks
Opening Remarks Ian Read Chairman and Chief Executive Officer Fourth Quarter 2014 Earnings
Slide 5: CEO Perspectives
CEO Perspectives l We have been and will continue to be guided by our stated imperatives Ü Improving the performance of our innovative core w Received 16 new drug approvals (10 of which were new molecular entities) since 2011 w Expect more than 20 registration study starts and hope to have more than
Slide 6: Financial Review
Financial Review Frank D’Amelio Executive Vice President & Chief Financial Officer Fourth Quarter 2014 Earnings
Slide 7: Income Statement Highlights
Income Statement Highlights ($ Millions, Except Per Share Amounts and Percentages) Fourth Quarter Full Year 2014 2013 Change 2014 2013 Change Reported Revenues(1) $13,118 $13,558 (3%) $49,605 $51,584 (4%) Adjusted Income(2) 3,441 3,686 (7%) 14,530 15,288 (5%) Adjusted Diluted EPS(2) 0.54 0.56 (4%) 2
Slide 8: Impact of Foreign Exchange on Adjusted Income Components
Impact of Foreign Exchange on Adjusted Income(1) Components ($ Millions, Except Percentages) Favorable / (Unfavorable) Fourth Quarter 2014 2013 FX Impact Revenues(1) $13,112 $13,493 ($453) » (3%) Cost of Sales(1) 2,584 2,672 228 » 9% SI&A Expenses(1) 3,916 4,093 109 » 3% R&D Expenses(1) 2,039 1,790
Slide 9: Global Innovative Pharmaceutical (GIP) Selected Financial Highlights
Global Innovative Pharmaceutical (GIP) Selected Financial Highlights ($ Millions, Except Percentages) Fourth Quarter l Q4 2014 revenues increased 6% operationally to $3,748M vs. Q4 2013 % Change 2014 2013 Ü Driven by strong operational growth in Lyrica, Total Oper. Eliquis and Xeljanz, partially off
Slide 10: Global Vaccines, Oncology and Consumer Healthcare (VOC) Selected Financial Highlights
Global Vaccines, Oncology and Consumer Healthcare (VOC) Selected Financial Highlights ($ Millions, Except Percentages) Fourth Quarter l Q4 2014 revenues increased 14% operationally to $2,880M vs. Q4 2013 % Change Ü Driven by strong operational growth of Prevnar 2014 2013 Total Oper. due to increased
Slide 11: Global Established Pharmaceutical (GEP) Selected Financial Highlights
Global Established Pharmaceutical (GEP) Selected Financial Highlights ($ Millions, Except Percentages) Fourth Quarter l Q4 2014 revenues declined 7% operationally to $6,407M vs. Q4 2013 % Change 2014 2013 Ü LOEs, lost alliance revenues and Lipitor in Total Oper. developed markets negatively impacted
Slide 12: 2014 Financial Guidance vs. Actual Results
(1)(2) 2014 Financial Guidance vs. Actual Results Guidance Actual Adjusted Revenues(3) $48.7 to $49.7 billion $49.4 billion Adjusted Cost of Sales(3) as a % of Adjusted Revenues(3) 18.5% to 19.0% 18.5% Adjusted SI&A Expenses(3) $13.5 to $14.0 billion $13.7 billion Adjusted R&D Expenses(3) $6.9 to $7
Slide 13: 2015 Financial Guidance
(1)(2)(3) 2015 Financial Guidance 2015 Financial Impact of Mid- Guidance (Excl. January 2015 Impact of Full-Year 2015 Financial Pending OPKO FX Rates Pending OPKO 2014 Guidance(1) Transaction(4)) at Compared to Transaction(4) 2014 FX Rates 2014 FX Rates $47.3 to $49.3 $44.5 to $46.5 Reported Revenue
Slide 14: 2015 Financial Guidance
(1) 2015 Financial Guidance Reported Revenues(2) $44.5 to $46.5 billion Adjusted Cost of Sales(2) as a % of Reported Revenues(2) 18.5% to 19.5% Adjusted SI&A Expenses(2) $12.8 to $13.8 billion Adjusted R&D Expenses(2) $6.9 to $7.4 billion Adjusted Other (Income) / Deductions(2) Approximately ($500 m
Slide 15: Key Takeaways
Key Takeaways Met or exceeded all components of our 2014 financial guidance Advanced our strategy through business development and pipeline advancements Ü Entered a collaboration with Merck KGaA which could potentially position Pfizer to compete in the first wave of immuno-oncology therapies and be
Slide 16: Fourth Quarter 2014 Earnings Teleconference Q&A Session
Fourth Quarter 2014 Earnings Teleconference Q&A Session January 27, 2015