Slide 1: Second Quarter 2019 Earnings Teleconference
Second Quarter 2019 Earnings Teleconference July 29, 2019
Slide 2: Introduction
Introduction Chuck Triano Senior Vice President, Investor Relations Second Quarter 2019 Earnings
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, business plans and prospects, expectations for in-line products a
Slide 4: Opening Remarks
Opening Remarks Albert Bourla Chief Executive Officer Second Quarter 2019 Earnings
Slide 5: CEO Perspectives
CEO Perspectives Solid performance in the second quarter and first half of 2019 Revenues up 2% operationally in Q2 2019, driven by volume partially offset by price Pfizer Biopharmaceuticals Group grew revenues 6% operationally Ibrance: up 27% operationally, including very strong growth in in
Slide 6: Recent Product Approvals
Recent Product Approvals U.S. FDA Approvals European Commission Approvals (since April 30) (since April 30) Vyndaqel/Vyndamax (ATTR-Cardiomyopathy) Talzenna (gBRCA-mutated locally advanced or Zirabev (Biosimilar to Avastin(1); Cancer) metastatic Breast Cancer) Inflectra (Biosimilar to Remica
Slide 7: R&D Pipeline Update
R&D Pipeline Update INFLAMMATION & VACCINES RARE DISEASE INTERNAL MEDICINE ONCOLOGY IMMUNOLOGY • 20-valent Next-Gen • DMD gene therapy: • Abrocitinib (JAK1): • Tanezumab: Pfizer • Array Biopharma: Pneumococcal: Presented initial Announced positive and Eli Lilly have Pending acquisition Phase 2 pedia
Slide 8: Financial Review
Financial Review Frank D’Amelio Chief Financial Officer and Executive Vice President, Business Operations & Global Supply Second Quarter 2019 Earnings
Slide 9: Income Statement Highlights
Income Statement Highlights ($ Millions, Except Per Share Amounts and Percentages) Second Quarter 2019 2018 Change Revenues $13,264 $13,466 (2%) Reported Net Income(1) 5,046 3,872 30% Reported Diluted EPS(1) 0.89 0.65 37% Adjusted Income(1) 4,520 4,593 (2%) Adjusted Diluted EPS(1) 0.80 0.77 4% Q2 20
Slide 10: Impact of Foreign Exchange on Revenues and Select Adjusted Income Components
Impact of Foreign Exchange on Revenues and Select Adjusted Income(1) Components ($ Millions, Except Percentages) Favorable / (Unfavorable) Second Quarter 2019 2018 FX Impact Revenues $13,264 $13,466 ($527) (4%) Adjusted Cost of Sales(1) 2,556 2,876 175 6% COS as a Percentage of Revenues 19.3% 21.4%
Slide 11: Updated 2019 Financial Guidance
Updated 2019 Financial Guidance(1) $50.5 to $52.5 billion Revenues (previously $52.0 to $54.0 billion) 20.1% to 21.1% Adjusted Cost of Sales(1) as a Percentage of Revenues (previously 20.8% to 21.8%) $13.0 to $14.0 billion Adjusted SI&A Expenses(1) (previously $13.5 to $14.5 billion) $7.9 to $8.3 bi
Slide 12: Key Takeaways
Key Takeaways Delivered another quarter with solid financial performance, including 2% operational Revenue growth for the total company and 6% operational Revenue growth in our Biopharmaceuticals Group, and 4% Adjusted diluted EPS(1) growth Updated 2019 financial guidance ranges primarily for the an
Slide 13: Second Quarter 2019 Earnings Teleconference Q&A Session
Second Quarter 2019 Earnings Teleconference Q&A Session July 29, 2019
Slide 14: Footnotes
Footnotes Financial Definitions Footnotes (1) Reported net income is defined as net income attributable to Pfizer Inc. in accordance with U.S. GAAP. Reported diluted earnings per share (EPS) are defined as diluted EPS attributable to Pfizer Inc. common shareholders in accordance with U.S. GAAP. (2)