Pfizer, Inc. · NYSE:PFE

Pfizer — Investor Day (March 2008)

160 slides from Pfizer's investor day presentation, Mar 5, 2008

1. Slide 1: Pfizer Analyst Day

   Pfizer Analyst Day View Analyst Day 2008 Webcast March 5, 2008

2. Slide 2: Welcome and Logistics

   Welcome and Logistics Amal Naj Senior VP, Worldwide Investor Development & Strategy

3. Slide 3: Forward-Looking Statements and Non-GAAP Financial Information

   Forward-Looking Statements and Non-GAAP Financial Information „ Our discussions at this meeting 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 are discussed

4. Slide 4: Regulatory Notice

   Regulatory Notice „ The information provided in these slides is for general information only and is subject to the Terms of Use contained at Pfizer’s website www.pfizer.com. „ All data, including any interim efficacy and safety data, are subject to further review and may change as further informatio

5. Slide 5: Our Path Forward

   Our Path Forward Jeff Kindler Chairman and Chief Executive Officer

6. Slide 6: Delivering Our Late Stage Portfolio

   Delivering Our Late Stage Portfolio Martin Mackay President, Global Research & Development

7. Slide 7: Today's News

   Today’s News „ Aggressive Goal to Rebuild Our Phase 3 Portfolio Š 15–20 Phase 3 Starts – 2008–2009 Š 24–28 Programs in Phase 3 Projected by the End of 2009 Š 15–20 Projected Submissions – 2010–2012 „ Comprehensive Decisions on Disease Areas and Development Compounds „ 15 New Disclosures – Late Stage

8. Slide 8: Disease Area Priorities Invest to Win

   Disease Area Priorities Invest to Win First or High Market High Best in Class Growth Unmet Need 9 9 9 „ Oncology „ Pain „ Immunology / Inflammation „ Diabetes / Obesity „ Alzheimer’s Disease „ Schizophrenia

9. Slide 9: Compound Decisions Accelerate – 20 Programs

   Compound Decisions Accelerate – 20 Programs „ CP-690550 JAK3 expanded indications „ CP-751871 IGF-1R initiating multiple simultaneous trials „ PF-4383119 NGF expanded clinical indications „ Chantix broader Neuroscience „ PF-734200 DPP-IV early dose selection

10. Slide 10: Development Pipeline Update

    Development Pipeline Update Over 300 Discovery Projects Phase 1 Phase 2 Approved 47 Phase 3 37 In Reg. Selzentry 16 2 Lyrica (38) (47) Fibromyalgia (11) fesoterodine (3) (EU) (Pipeline as of July 31, 2007)

11. Slide 11: Today's Phase 3 Portfolio

    Today’s Phase 3 Portfolio „ axitinib – Pancreatic Cancer „ PD-332334 – GAD „ tremelimumab – Melanoma „ S,S-reboxetine – Fibromyalgia NMEs „ apixaban – VTE Prevention „ Zithromax/chloroquine – Malaria „ CP-945598 – Obesity New Indications „ apixaban – Atrial Fibrillation /

12. Slide 12: Potential New Indications Expected To Drive Value

    Potential New Indications Expected To Drive Value Colorectal es nu ve Non Small Cell Lung Re Hepatocellular Carcinoma Breast Renal Cell Carcinoma & Gastrointestinal Stromal Tumor Time

13. Slide 13: Projected 15–20 Phase 3 Starts 2008–2009

    Projected 15–20 Phase 3 Starts 2008–2009 „ PF-3187207 „ PF-885706 – GERD „ PF-868554 „ PF-734200 – Glaucoma – HCV – Diabetes „ PF-299804 – Cancer „ CP-751871 „ PF-4194471 „ PF-4522625 – Lung Cancer „ PH-797804 – RA – HIV – Seasonal Flu NMEs „ PF-4383119 „ IV sulopenem/Oral „ CP-690550 „ UK-453061 –

14. Slide 14: Rebuilding The Phase 3 Portfolio

    Rebuilding The Phase 3 Portfolio Number of Phase 3 Programs 24–28 22–24 16 Mar '08 Mar '09 Dec '09 Projected Projected NMEs New Indications

15. Slide 15: Projected 15–20 Submissions 2010–2012

    Projected 15–20 Submissions 2010–2012 „ axitinib – Pancreatic Cancer „ Zithromax/chloroquine „ PF-734200 – Diabetes – Malaria „ S,S-reboxetine „ PD-200390 – Insomnia – Fibromyalgia „ PF-299804 – Cancer „ CP-751871 „ CP-945598 – Obesity „ PF-885706 – GERD – 3rd Line NSCLC NMEs „ PD-332334 – GAD „ PF-

16. Slide 16: This Is The R&D Challenge Of A Lifetime

    This Is The R&D Challenge Of A Lifetime

17. Slide 17: Delivery In Action

    Delivery In Action Selzentry/Celsentri Approved for Treatment Experienced HIV (US/EU) Champix, Revatio Approved for Smoking Cessation, PAH (Japan) Zithromax SR Submitted for Bacterial Infections (Japan) Fablyn Submitted for Osteoporosis Spiriva Respimat Submitted for COPD Xalacom Submitted for Glauc

18. Slide 18: Leading Portfolio Delivery

    Leading Portfolio Delivery Delivering the Phase 2 and „ Briggs Morrison Phase 3 Portfolio Pain Therapeutics – „ Ken Verburg Accelerating Portfolio Value „ Gillian Burgess Biotherapeutics and „ Corey Goodman Bioinnovation

19. Slide 19: Delivering the Phase 2 and Phase 3 Portfolio

    Delivering the Phase 2 and Phase 3 Portfolio Briggs Morrison Senior VP, Worldwide Clinical Development

20. Slide 20: Delivering the Phase 2 and Phase 3 Portfolio: Outline

    Delivering the Phase 2 and Phase 3 Portfolio: Outline Increase Portfolio Value „ NMEs Progressing From Phase 2 to Phase 3 Š In the Next 12 Months Š By Year End 2009 „ Phase 3 New Indications Execution

21. Slide 21: Today's Disclosures

    Today’s Disclosures Neuroscience Š Geodon Oncology Š CP-751871 Š axitinib* Š Sutent* CVMED Š apixaban Ophthalmology Š PF-3187207* Š PF-734200* Pain Š PF-4383119* Š Celebrex* Infectious Š IV sulopenem / Š Chantix* Diseases Oral sulopenem Š Lyrica* pro-drug* Š S,S-reboxetine* Inflammation Š CP-690550*

22. Slide 22: 10–12 NME and New Indication Phase 3 Starts: NMEs

    We Expect to Deliver 10–12 NME and New Indication Phase 3 Starts in the Next 12 Months 4 New Molecular Entities Projected to Progress From This Cohort „ PF-3187207 „ CP-751871 „ UK-453061 „ PF-4383119 „ PF-868554 „ PF-4194471 „ PD-200390 „ CP-690550 „ PF-885706 „ PH-797804 „ PF-299804 „ PF-734200 „

23. Slide 23: 10–12 NME and New Indication Phase 3 Starts: Targets

    We Expect to Deliver 10–12 NME and New Indication Phase 3 Starts in the Next 12 Months 4 New Molecular Entities Projected to Progress From This Cohort PF-3187207 Glaucoma No-Donating Prostaglandin Agonist IV sulopenem/ Bacterial Infections Oral sulopenem pro-drug CP-751871 Lung Cancer IGF-1R Inhibit

24. Slide 24: CP-751871 (IGF-1R Ab): Proof of Concept Established in 1st Line NSCLC

    CP-751871 (IGF-1R Ab): Proof of Concept Established in 1st Line NSCLC Carboplatin/Paclitaxel (SOC) Study Treatment-naïve Stage IIIB/IV Design NSCLC patients Carboplatin/Paclitaxel + CP-751 60 Response Rate (%) 50 „ Highly specific fully 40 human antibody 30 „ Well tolerated – high 20 potential to co

25. Slide 25: CP-751871 (IGF-1R Ab): Potential New Data

    CP-751871 (IGF-1R Ab): Potential New Data ASCO 2008 „ Further data update from Phase 2 non-small cell lung cancer study initially reported at ASCO 2007 „ Compilation of scientific data that supports selected non-small cell lung cancer population „ Initial single agent experience showing clinical ben

26. Slide 26: CP-690550 JAK-3 Inhibitor

    CP-690550 JAK-3 Inhibitor RA Phase 2a Response Rate 100 80 60 40 20 0 0 2 4 6 Weeks Placebo 5 mg 15 mg 30 mg Phase 2b dose ranging in rheumatoid arthritis ongoing – anticipate Kremer JM et al, ACR 2006 presentation at ACR 2008 Simultaneous Development Programs in Psoriasis, Asthma, Transplant Reject

27. Slide 27: PF-734200 DPP-IV Inhibitor: Rapid Progress to Phase 3

    PF-734200 DPP-IV Inhibitor: Rapid Progress to Phase 3 DPP-IV Inhibition at 24 hr (%) 100 sitagliptin 200 mg 80 100 mg 30 mg 50 mg 60 10 mg 40 3 mg 20 0 X = Mean value 0 20 40 60 80 100 Dose (mg) PK-PD Modeling Allows Accurate Dose Selection Dai H, et al. Diabetes, Obesity and Metabolism, 2008

28. Slide 28: 10–12 NME and New Indication Phase 3 Starts: New Indications

    We Expect to Deliver 10–12 NME and New Indication Phase 3 Starts in the Next 12 Months 6 New Indications Are Projected to Progress From This Cohort „ Lyrica RLS „ Geodon Adj Depression „ apixaban VTE Treatment „ IV sildenafil PAH post cardiac surgery „ apixaban ACS „ Sutent Gastric Cancer „ axitinib

29. Slide 29: New Indications by Target and Disease

    We Expect to Deliver 10–12 NME and New Indication Phase 3 Starts in the Next 12 Months 6 New Indications Are Projected to Progress From This Cohort Lyrica Alpha-2-Delta Ligand Restless Legs Syndrome apixaban Factor Xa Inhibitor Venousthromboembolism Treatment axitinib VEGF Inhibitor Renal Cell Cance

30. Slide 30: axitinib: Potential New Phase 3 Indications

    axitinib: Potential New Phase 3 Indications Study 1016 ECOG PS 0/1 „ Ongoing Phase 3 trial in 1.0 axitinib+gemcitabine pancreatic cancer (n=63) Median: 7.2 mo „ Anticipate at ASCO 0.8 (95% CI: 6.0, 12.5) Overall Survival Probability Š Additional information on both gemcitabine (n=31) Median: 5.7 mo

31. Slide 31: Sutent: Potential New Phase 3 Indications

    Sutent: Potential New Phase 3 Indications „ Many ongoing Phase 3 trials Inhibition of Multiple Š 3 trials in Breast Cancer Growth Factor Receptors Š 1 trials in NSCLC Š 2 trials in CRC „ Anticipate at ASCO Š Results from hepatocellular, colorectal, breast, non-small cell lung and prostate cancer tri

32. Slide 32: apixaban: Phase 2 Data

    apixaban: Phase 2 Data Venous Thromboembolism/Death Total Bleeding 40 40 35 35 30 30 25 25 20 20 15 15 10 10 5 5 0 0 QD BID QD BID QD BID Enox Warf QD BID QD BID QD BID Enox Warf Dose: (mg) 5 2.5 10 5 20 10 5 2.5 10 5 20 10 Lassen et al. Journal of Thrombosis and Haemostasis 2007; 5:2368-75.

33. Slide 33: apixaban – Phase 3 New Indications

    apixaban – Phase 3 New Indications „ Six ongoing Phase 3 trials in VTE prevention and atrial fibrillation „ Key data we hope to present in 2008 Š Phase 3 pivotal trial data for VTE prevention (total knee replacement surgery) – American Society of Hematology (ASH) – December Š Phase 2 ACS trial data

34. Slide 34: Rebuilding the Phase 3 Portfolio

    Rebuilding the Phase 3 Portfolio Number of Phase 3 Programs 24–28 22–24 16 Mar '08 Mar '09 Dec '09 Projected Projected NMEs New Indications

35. Slide 35: Strong Commercial Potential of Emerging Phase 3 Portfolio

    Strong Commercial Potential of Emerging Phase 3 Portfolio First or High High First or High High Best Market Unmet Best Market Unmet in Class Growth Need in Class Growth Need PF-3187207 9 9 9 PD-200390 9 9 PF-885706 9 9 CP-751871 9 9 9 PF-299804 9 9 9 IV sulopenem/Oral 9 9 sulopenem pro-drug PF-73420

36. Slide 36: Execution

    Delivering the Phase 2 and Phase 3 Portfolio Execution

37. Slide 37: Execution

    Execution Focus Resources on Best „ Identify Winners Early Opportunities „ Improve Clinical Trial Design to Increase Improve Clinical Probability of a Positive Result Trial Execution „ Improve Cycle Times

38. Slide 38: Focus Resources on Best Opportunities

    Focus Resources on Best Opportunities Phase 2 Phase 3 100% Industry (CMR) Pfizer (5yr) 100% Industry (CMR) Pfizer (5yr) 80% 80% 71% 60% 60% 40% 40% 20% 18% 20% 0% 0% 2000 2001 2002 2003 2004 2005 2006 2007 2000 2001 2002 2003 2004 2005 2006 2007 „ A lower Phase 2 success rate is anticipated when the

39. Slide 39: Focus Resources on Best Opportunities

    Focus Resources on Best Opportunities „ Pfizer analyses found that both good and bad compounds declare themselves early in development % Completion varenicline „ 15% complete „ 30% complete „ 100% complete n = 125 per arm „ Positive result „ Positive result „ Positive result % Completion UK-369003 „

40. Slide 40: Enhanced Clinical Trial Design

    Enhanced Clinical Trial Design Phase 3 Success Rate Should Be ~90% „ Rigorous proof-of-mechanism 90% Positive Clinical Outcomes (%) 80% „ Rigorous proof-of-concept 70% „ Full understanding of dose 60% response 50% „ Full validation of end points 40% „ Best in class simulation and 23/27 12/20 17/28 3

41. Slide 41: Pfizer's Overall Development Speed Is Good…

    Pfizer’s Overall Development Speed Is Good… First-In-Human to NDA Submission Industry (2003–05) 8.2 Pfizer (2003–05) 7 Pfizer (2005–07) 6 0 2 4 6 8 10 Years CMR International 2003-2005 (Major Company Comparison)

42. Slide 42: Chantix – Just One Example

    Chantix – Just One Example Typical Timeline for Development First-In-Human to Approval1 1.7 2.8 2.1 1.2 Phase 1 Phase 2 Phase 3 Approval 7.8 Years Chantix Timeline for Development First-In-Human to Approval 3.2 2.6 0.5 Phase 1 and 2 Phase 3 App. 6.3 Years 1CMR International 2005 (All Company Compari

43. Slide 43: …And Yet We Have Room to Improve

    …And Yet We Have Room to Improve Study Timelines Pfizer Protocol Approved to Medians1 146 323 61 174 First Patient Enrolled First Patient Enrolled to Last Patient Enrolled Industry 112 304 65 168 Medians1 Last Patient Last Visit to Database Locked Database Locked to Best in Class Final Study Report

44. Slide 44: Delivering the Phase 2 and 3 Portfolio

    Delivering the Phase 2 and 3 Portfolio Projected 2008–2009 Projected Portfolio Growth 24 – 28 „ Deliver 10–12 NME and 30 22 – 24 New Indication Phase 3 25 Starts over the next 20 12 months 16 15 Š At least 4 NMEs 10 Š At least 6 New Indications 5 „ By end 2009, Phase 3 0 Mar '08 Mar '09 Dec '09 port

45. Slide 45: Pain Therapeutics Accelerating Portfolio Value

    Pain Therapeutics Accelerating Portfolio Value Ken Verburg, Development Head – Pain Gillian Burgess, Research Head – Pain

46. Slide 46: Focus On Pain Therapeutics

    Focus On Pain Therapeutics Growth Franchise „ Market-leading pain therapies Š Growth potential through new indications „ Portfolio – sustained growth potential „ Broad scientific leadership Š Emerging science of pain targets

47. Slide 47: Pain Therapeutics: Invest to Win

    Pain Therapeutics: Invest to Win Key Internal Market Potential Success Factors + „ Significant unmet need „ Strong track record „ Large market opportunity „ Near-term growth „ Limited approved therapeutic „ Valuable portfolio approaches „ Well-positioned to capitalize on emerging science Innovative

48. Slide 48: Pain: Market Opportunity $45B

    Pain: Market Opportunity $45B Few Existing Therapeutic Classes „ Acute Pain/ „ Neuropathic Pain Musculoskeletal Pain Š Anti-depressants Š Acetaminophen Š Anti-epileptics Š NSAIDs/COX2Is Š Topical capsaicin Š Opiates Š Local anesthetics Š Local anesthetics Š Muscle relaxants Innovation and Value Will

49. Slide 49: Pain Portfolio

    Pain Portfolio 5 NMEs Against 5 Targets in Phase 2 and 3 New Indication PF-4191834 NME 7 Compounds PF-3557156 4 Unique PF-2393296 PF-4480682 Targets Beyond PF-738502 PH-797804 Celebrex Clinical Candidates PF-4136309 PF-4856880 Lyrica PF-4856881 PF-4383119 S,S-reboxetine Pre-Clinical Phase 1 Phase 2

50. Slide 50: Pain Portfolio

    Pain Portfolio 5 NMEs Against 5 Targets in Phase 2 and 3 New Indication PF-4191834 NME 7 Compounds PF-3557156 4 Unique PF-2393296 PF-4480682 Targets Beyond PF-738502 PH-797804 Celebrex Clinical Candidates PF-4136309 PF-4856880 Lyrica PF-4856881 PF-4383119 S,S-reboxetine Pre-Clinical Phase 1 Phase 2

51. Slide 51: Near-Term Milestones

    Near-Term Milestones 2008 Key Milestones „ CONDOR: Last patient enrolled „ SCOT: Begin enrollment „ PRECISION: Ongoing „ Gouty arthritis (New) Š Begin Phase 3 enrollment „ Juvenile rheumatoid arthritis Š EU submission Currently Approved for „ Low back pain – Japan regulatory 7 Indications in the US

52. Slide 52: Near-Term Milestones

    Near-Term Milestones Ongoing Programs „ Peripheral neuropathic pain „ Central neuropathic pain „ Post-operative pain „ Epilepsy monotherapy 2008 New Programs Expected to Start: „ Phase 3 – Restless Legs Syndrome „ Phase 2 – Combo therapy with PF-4880682 (pain) 2008 Planned Submissions in Fibromyalgi

53. Slide 53: New α2δ Ligands Expand a Successful Class of Drugs

    New α2δ Ligands Expand a Successful Class of Drugs PD-332334 „ Generalized anxiety disorder „ Fibromyalgia (EU) – Phase 3 „ PHN – Japan NDA „ Peripheral neuropathic pain PD-200390 „ Central neuropathic pain „ Insomnia – Phase 2 „ Post-operative pain „ Combo therapy with PF-2393296 PF-4880682 (pain)

54. Slide 54: Lyrica Fibromyalgia: Rapid Development

    Lyrica Fibromyalgia: Rapid Development Study Study EU sNDA 1059 2Q05 1056 Study 1100 Approval Study 1077 4Q04 3Q06 2Q07 3Q05 Pre-NDA sNDA CHMP Mtg Submitted EU Type II IND Filed Scientific 4Q06 Variation 2Q04 Advice Mtg Dec 15th th Priority Submission 1Q05 2005 Review 2004 2005 2006 2007 2008 Projec

55. Slide 55: S,S-reboxetine: Highly Selective

    S,S-reboxetine: Highly Selective Norepinephrine Reuptake Inhibitor Key Fibromyalgia Value Drivers Widespread Poor Difficulty Fatigue Function Depression Pain Sleep Concentrating Lyrica 9 9 9 Unmet Unmet duloxetine 9 need 9 need 9 gap gap milnacipran 9 9 9 S,S- 9 9 9 9 9 reboxetine ACR, 2008 Plans to

56. Slide 56: PF-4383119 (RN-624)

    PF-4383119 (RN-624) Heavy Chain Projected 1st Biotherapeutic for Pain „ Blocks Nerve Growth Factor (NGF) Š Humanized monoclonal antibody NGF „ Efficacy demonstrated in Phase 2 osteoarthritis (OA) pain study „ Favorable safety profile to date Š >600 patients treated Light Chain

57. Slide 57: PF-4383119: Osteoarthritis Knee Pain

    PF-4383119: Osteoarthritis Knee Pain Single IV Infusion: Mean Change from Baseline (mm) Over 8 Weeks Panel 1 Panel 2 Baseline Pain = 43–46 mm Baseline Pain = 54–60 mm n=12 n=6 n=6 n=6 n=26 n=27 n=26 0 -5 -10 -15 -20 -25 * * -30 * -35 * Placebo 0.1 mg/kg 0.3 mg/kg 1.0 mg/kg Encouraging Phase 1/2 Effi

58. Slide 58: PF-4383119 (RN-624) Development Timeline

    PF-4383119 (RN-624) Heavy Chain Development Timeline „ Phase 2 OA pain study complete (Dec 07) Š EULAR and IASP World Congress of Pain NGF 2008 „ Move rapidly into Phase 3 for OA – 2008 „ Other Phase 2 studies Š Chronic low back pain, post-herpetic neuralgia and visceral pain Light Chain „ Project P

59. Slide 59: PH-797804: p38 Kinase Inhibitor

    PH-797804: p38 Kinase Inhibitor Inhibits Cytokine Production TNFα vs. Time as a Function of PH-797804 Dose (Mean ± SE) 400 Mean (SEM) Placebo „ Rheumatoid arthritis Plasma TNFα CONC, pg/mL 1 mg Š Phase 2 ongoing 300 2 mg 4 mg „ Post-herpetic neuralgia 13 mg 200 30 mg Š Phase 2 expected to start 2008

60. Slide 60: Mid- to Late-Stage Portfolio Scorecard

    Mid- to Late-Stage Portfolio Scorecard „ Study 1100 data – fibromyalgia „ EULAR 08 Lyrica „ EU Submission – fibromyalgia „ 2008 „ Japan NDA – PHN „ 2008 „ Phase 2 fibromyalgia data „ ACR 08 S,S-reboxetine „ Phase 2 DPN data „ 2009 „ Phase 2: OA data „ EULAR, IASP 08 PF-4383119 „ Phase 3: Osteoarthri

61. Slide 61: Pain Therapeutics Accelerating Portfolio Value

    Pain Therapeutics Accelerating Portfolio Value Gillian Burgess, Research Head – Pain

62. Slide 62: Pain Portfolio Compounds in Clinical Testing

    Pain Portfolio 11 Compounds in Clinical Testing New Indication PF-4191834 NME 7 Compounds PF-3557156 4 Unique PF-2393296 PF-4480682 Targets Beyond PF-738502 PH-797804 Celebrex Clinical Candidates PF-4136309 PF-4856880 Lyrica PF-4856881 PF-4383119 S,S-reboxetine Pre-Clinical Phase 1 Phase 2 Phase 3

63. Slide 63: Pursue the Best External Science

    Pursue the Best External Science Pain Genetics Neuro-immune Pain Perception Modulation Ion Channels Biologicals Pain Pathways

64. Slide 64: CCR2 Antagonists: Incyte Collaboration

    CCR2 Antagonists: Incyte Collaboration „ Potent, selective, antagonists of CC chemokine receptor 2 (CCR2) „ Preclinical activity Š Efficacy in nociceptive and neuropathic models of pain comparable to celecoxib and gabapentin respectively „ PF-4136309 Š Phase 1 studies completed Š Phase 2 OA pain stu

65. Slide 65: Human Genetics Link Voltage-Gated Sodium Channel, NaV 1.7, to Pain

    Human Genetics Link Voltage-Gated Sodium Channel, NaV 1.7, to Pain Innovative Science for Innovative Medicine „ Voltage-gated sodium ion channels play critical role in pain transduction and conduction Š Studied families with Congenital Insensitivity to Pain nature Š Identified mutations in gene for

66. Slide 66: Pain Portfolio

    Pain Portfolio New Indication PF-4191834 NME 7 Compounds PF-3557156 4 Unique PF-2393296 PF-4480682 Targets Beyond PF-738502 PH-797804 Celebrex Clinical Candidates PF-4136309 PF-4856880 Lyrica PF-4856881 PF-4383119 S,S-reboxetine Pre-Clinical Phase 1 Phase 2 Phase 3

67. Slide 67: Establishing Biotherapeutics Leadership Through Innovation

    Establishing Biotherapeutics Leadership Through Innovation Corey Goodman President, Biotherapeutics & Bioinnovation Center

68. Slide 68: Pfizer Has Built a Strong Biotherapeutics Foundation

    Pfizer Has Built a Strong Biotherapeutics Foundation Research Development Marketed 86 Biotherapeutics in the pipeline* (interferon beta-1a) 60 in Discovery 26 in 5 Products PC/Clinical (dalteparin sodium injection) Diverse Portfolio $1.4 B 2007 8 TAs Revenues (pegvisomant for injection) 6 Modalities

69. Slide 69: Biotherapeutics & Bioinnovation Center: Unique Model vs. Other Big Pharma

    Biotherapeutics & Bioinnovation Center: Unique Model vs. Other Big Pharma GAP Combined Federation of Independent Independent Small & Large Small & Large Molecule R&D BioTx R&D Biotech Units Molecule R&D Interfaced with PGRD „ Fully leverages „ Leverages best of „ Duplicates big big pharma scale big

70. Slide 70: A Unique and Innovative Strategy to Establish Leadership in Biotherapeutics

    A Unique and Innovative Strategy to Establish Leadership in Biotherapeutics „ Structured as an internal VC that manages risks and returns across a Cutting-Edge portfolio of cutting-edge BioTx technologies – value creation Biotherapeutics „ Charged with developing a leading BioTx pipeline, faster and

71. Slide 71: Biotherapeutics and Bioinnovation Center (BBC): The "Federated" Model

    Biotherapeutics and Bioinnovation Center (BBC): The “Federated” Model Research Unit Collaborations Incubator Portfolio Company

72. Slide 72: Continue to Build and Grow Existing and New Assets and Capabilities

    Continue to Build and Grow Existing and New Assets and Capabilities Rinat’s MAb Technology „ Supplement existing antibody CovX’s Peptide Technology libraries and technologies „ Develop bifunctional „ Build advanced libraries peptide scaffolds „ Pursue access to advanced platforms and technologies „

73. Slide 73: Continue to Build Best-in-Class Vaccine Capabilities

    Continue to Build Best-in-Class Vaccine Capabilities Market Rationale „ Large market projected to double „ Establish top-tier portfolio from $8.5B in 2005 to $18B in 2010 „ Integrate PowderMed „ Shifts in landscape make DNA delivery technology vaccines attractive for Pfizer „ Combine Coley adjuvants

74. Slide 74: Winning BBC-PGRD Model: Combining Best of Academia, Biotech, Pharma

    Winning BBC-PGRD Model: Combining Best of Academia, Biotech, Pharma Research Clinical Development Target Generation Candidate Generation I II III Collaborations MAbs PGRD / External Partner(s) Peptides Incubators RNAi + Stem Cells Internal Internal Biology Vaccines TA Research Groups PGRD Platform L

75. Slide 75: Most Advanced BBC-PGRD Collaboration: PF-4383119

    Most Advanced BBC-PGRD Collaboration: PF-4383119 – Projected First BioTx for Pain „ Blocks Nerve Growth Factor (NGF) Heavy Š Humanized monoclonal antibody Chain „ Pharmacology demonstrated in preclinical pain „ Efficacy demonstrated in osteoarthritis pain – NGF Phase 2 „ Favorable safety profile to

76. Slide 76: Actively Drive Business Development to Gain Access to the Best External Science

    Actively Drive Business Development to Gain Access to the Best External Science Coley 2008 Biotherapeutic Deals* CovX 2007 2005–2008 BioRexis 2006 PowderMed Scil 2005 Rinat Tacere Bioren Xoma Noxxon Quark Direvo TransTech Archemix Noxxon Fabrus Scripps Mergers & RGo Acquisitions Wintherex Licenses R

77. Slide 77: BBC and PGRD – Building Foundation for Success in BioTx and Bioinnovation

    BBC and PGRD – Building Foundation for Success in BioTx and Bioinnovation „ Pfizer has built a strong biologics presence over the past decade Š 86 BioTx in the pipeline, including 53 MAbs and 8 vaccines „ BBC federated model of entrepreneurial biotech-like units Š Is innovative and unprecedented in

78. Slide 78: Research & Development Q&A Session

    Research & Development Q&A Session Martin Mackay Briggs Morrison Ken Verburg Gillian Burgess Corey Goodman

79. Slide 79: Pfizer Analyst Day

    Pfizer Analyst Day March 5, 2008

80. Slide 80: Change. Opportunity. Value.

    Change. Opportunity. Value. Ian Read President, Worldwide Pharmaceutical Operations

81. Slide 81: The Forces at Work in Healthcare Today

    The Forces at Work in Healthcare Today o ci ety in n ce s in Agi n g S u nd Adv a ology e l o p ed W o rl d Pro fo e ch n Dev en ce and T Risi Sci ng M in D iddle I nf o eve Clas Reg l o p s Exp rmatio ions ing l n New osion & Med ia er ism Health US ns um ca Conso re Plans Co lidatin g Shift in Who

82. Slide 82: Right Products, Right Business Models, Right Geographies

    Right Products Right Business Models Right Geographies

83. Slide 83: Right Geographies

    Right Geographies #2 Europe $13.3B 7.0% Share #1 U.S. #4 Africa/ #1 Japan $25.5B Middle East #1 Asia $3.7B 9.2% Share $0.4B $2.6B 6.4% Share 5.8% Share 5.5% Share #1 Latin America $1.4B 6.1% Share The Powerful Forces of Globalization Play to Our Strength Source: IMS MAT 4Q2007

84. Slide 84: Right Products

    Right Products New In-Line Established (glipizide) Extended Release Tablets Dynastat ® IV/IM (parecoxib sidico injectable)

85. Slide 85: Right Business Models

    Right Business Models “Game Explore Changers” Experiment What We’ve Innovate Done

86. Slide 86: What We've Done

    What We’ve Done Seamless WW Commercial “Game and Clinical Development Changers” Experimenting What and Innovating „ Integrated team – Research, We’ve Development, Medical and Done Commercial „ Value proposition – focal point „ Lifecycle management – increased attention

87. Slide 87: What We've Done

    What We’ve Done Seamless WW Commercial “Game and Clinical Development Changers” Experimenting What and Innovating We’ve Done Customer and Brand-Centric European Organization „ Regional brand teams „ Country customer teams „ Transformed sales models- Germany, Switzerland, Sweden

88. Slide 88: Germany: New Tiered Customer Engagement Model

    Germany: New Tiered Customer Engagement Model Differentiated Resource Deployment Aligned to Customer Regional Business Team Value Segment Tier 1 Account Manager „ Fully integrated team Total Customer Value at regional level Tier 2 Tailored, Portfolio-based „ Accountable for full Tier 3 Field Force p

89. Slide 89: What We've Done

    What We’ve Done Seamless WW Commercial “Game and Clinical Development Changers” Experimenting What and Innovating We’ve Done Customer and Brand-Centric European Organization Streamlined and Focused U.S. Organization „ Aligned and integrated customer business unit „ More flexible resource allocation

90. Slide 90: "Game Changers"

    “Game Changers” “Game Changers” What Explore We’ve Experiment Done Innovate Co-Creating with Customers the Value Proposition Operating in Networks, Utilizing New Customer-Centric Channels Understanding the Patient as a Patient and a Payer

91. Slide 91: Experimenting and Innovating the Models

    Experimenting and Innovating the Models Explore “Game Changers” Experiment What Innovate We’ve Done Disaggregating the Customer Base New Communication Channels Sermo Collaboration Closed-Loop Marketing National and Local Focus Aligned with Business Drivers Working with Organizations and Individual P

92. Slide 92: U.S. Is No Longer One Market

    U.S. Is No Longer One Market, Complex and Intertwined Dynamics at Play State Regulations Restrict FF Activities Integrated Clinics/Large Group Practices More Restricted Field Force Access ‘Traditional’ Physician Practice Less Restricted Field Force Access Managed Care Medicare Academic Employers Med

93. Slide 93: Innovating and Experimenting in the U.S. – Addressing Local Business Drivers

    Innovating and Experimenting in the U.S. – Addressing Local Business Drivers STATUS Regionalization „ Underway in all 50 states „ Business plan and execution state-by-state „ Shifting and rebalancing accountability and control more to the local level Š Resource allocation Š Prioritization of opportu

94. Slide 94: Innovating and Experimenting in the U.S. – Physician Practice Models

    Innovating and Experimenting in the U.S. – Physician Practice Models Integrated STATUS Clinics/Large Group „ 4 States – MN, WA, CA, OR Practices „ Expand to MA, WI „ Determining the right engagement model(s) to improve access, the customer’s interaction and sales „ Testing alternative account manage

95. Slide 95: Innovating and Experimenting in the U.S. – Evolving Customers and Channels

    Innovating and Experimenting in the U.S. – Evolving Customers and Channels STATUS „ New institutional customer account managers Institutional Focus targeting top 100 AMC/large hospitals „ Doubling employer-focused customer managers „ Establishing strong collaborative relationships with newer groups

96. Slide 96: Growth Opportunities

    Growth Opportunities Accelerating Unlocking Value Optimizing the Growth in in Established Patented Emerging Markets Products Portfolio

97. Slide 97: Pfizer in Emerging Markets Today

    Pfizer in Emerging Markets Today Significant presence Strong and growing business in emerging markets Power of scale combined with country-based organizations that know the customers

98. Slide 98: Opportunity in Emerging Markets and the Growing Middle-Tier

    Opportunity in Emerging Markets and the Growing Middle-Tier Shifting of Global Economic Growth GDP Growth 2007–2017 Incremental Real GDP Growth ($ Trillion) CAGR% U.S. 8.9 2.4 W.Europe 5.2 2.3 Japan 2.5 0.9 Growing China 12.6 8.0 Middle-Tier Demographics India 3.5 7.2 Indonesia 0.7 5.8 Turkey 0.6 4.

99. Slide 99: Growth Opportunities

    Growth Opportunities Accelerating Unlocking Value Optimizing the Growth in in Established Patented Emerging Markets Products Portfolio Asia Strategy Dudley David Ian Read Schleier Simmons

100. Slide 100: Asia Strategy

     Asia Dudley Schleier President Strategy Japan/Asia

101. Slide 101: The Emerging Asian Markets Opportunity

     The Emerging Asian Markets Opportunity Today 2012 Projection 2017 Projection 7–9% 6% 4% $47B $79B $111B Market Pfizer Source: Projections based upon IMS Market Prognosis March 2007 & Internal Analysis (excludes Japan, Australia, New Zealand)

102. Slide 102: Pfizer Well-Positioned and Investing for Growth in Emerging Asian Markets

     Pfizer Well-Positioned and Investing for Growth in Emerging Asian Markets Asia Footprint People „ 2007 Sales „ Programs to develop and Š $1.7 Billion retain talent across markets Š 11% Growth „ Strong cadre of very „ #1 Rank in Asia experienced managers Š Three-quarters of „ Regional support footpri

103. Slide 103: Pfizer Well-Positioned and Investing for Growth in Emerging Asian Markets

     Pfizer Well-Positioned and Investing for Growth in Emerging Asian Markets Asia Footprint People „ 2007 Sales „ Programs to develop and Š $1.7 Billion retain talent across markets Š 11% Growth „ Strong cadre of very „ #1 Rank in Asia experienced managers Š Three-quarters of „ Regional support footpri

104. Slide 104: Asia Strategy Highlights

     Asia Strategy Highlights Building Geographic Leadership Expansion in Oncology Capturing Tailoring Global Portfolio Advantage Offerings

105. Slide 105: China: A Leading Presence Today

     China: A Leading Presence Today „ 2007 GDP grew more than 11% „ Currently a $15 billion pharma market overall „ 2007 Pfizer revenue growth of 31%* „ Top Products Š Norvasc Š Lipitor „ Almost 1700 commercial colleagues * Operational Growth

106. Slide 106: China – Geographic Expansion Provides a Large Potential Opportunity

     China – Geographic Expansion Provides a Large Potential Opportunity Today Tomorrow Geographic Reach 110 Cities 650 Cities Population Reach 245 Million 784 Million Potential Opportunity $5 Billion $31 Billion Source: China Statistic Yearbook, All China Marketing Research Income Survey, Pfizer analysi

107. Slide 107: Geographic Opportunities Beyond China

     Geographic Opportunities Beyond China „ Pfizer’s business expected to reach $1 Billion by 2012 Korea „ Drive oncology portfolio growth „ Drive Champix via consumers and physicians in early launch phase India „ India to serve as sourcing and capabilities platform for other Pfizer markets „ Increase i

108. Slide 108: Building Leadership in Oncology – Asia Accounts for 45% Cancer Mortality

     Building Leadership in Oncology – Asia Accounts for 45% Cancer Mortality Mortality (000s) US Asia-Specific Cancers A 574 8.4 % 466 449 Asia North America 293 178 153 48 15 15 14 40 0.8 Lung Breast Stomach Liver Esophagus Nasopharynx Source: The International Agency for Research on Cancer –World Heal

109. Slide 109: Asia Strategy Highlights: Geographic Expansion

     Building Geographic Leadership Expansion in Oncology Capturing Tailoring Global Portfolio Advantage Offerings

110. Slide 110: Capturing Global Advantage – Building Out Today's Presence

     Capturing Global Advantage – Building Out Today’s Presence R&D „ $300 million investment in South Korea „ R&D facility in China „ Establish incubators to aid Asian start-ups „ New Asia R&D head based out of Shanghai and reporting to M. Mackay

111. Slide 111: Capturing Global Advantage – Building Out Today's Presence

     Capturing Global Advantage – Building Out Today’s Presence R&D Manufacturing „ $300 million investment in „ Manufacturing sites and experience South Korea across Asia „ R&D facility in China „ First trigeneration power plant in „ Establish incubators to aid Asian Singapore – an environmental- start-

112. Slide 112: Capturing Global Advantage – Building Out Today's Presence

     Capturing Global Advantage – Building Out Today’s Presence R&D Manufacturing „ $300 million investment in „ Manufacturing sites and experience South Korea across Asia „ R&D facility in China „ First trigeneration power plant in „ Establish incubators to aid Asian Singapore – an environmental- start-

113. Slide 113: Asia Strategy Goals

     Asia Strategy Reinforce market leadership in the region, grow market share from 4% to 7–9% #1 pharma company in China, grow market share from ~2% to ~8–11% Goals Drive Korea to $1 billion business Top 3 in fast-growing Asian oncology market Capture global advantage

114. Slide 114: Asia Strategy Highlights

     Building Geographic Leadership Expansion in Oncology Capturing Tailoring Global Portfolio Advantage Offerings

115. Slide 115: Unlocking Value in Established Products

     Unlocking David Simmons Value in General Manager/SVP Established Established Products Products

116. Slide 116: The Opportunity

     The Opportunity Global Pharmaceutical Sales ($ billions USD) $898 CAGR $576 “Established” $523 11% Market Is: Established „ Big Products (Near-Post $271 „ Fast growing LOE) „ Profitable Innovative $375 4% Products $305 (Pre-LOE) 2006 2012 * Excludes Africa/Middle East market. Source: Datamonitor; Ev

117. Slide 117: The Market Is Not Homogenous, Three Distinct Market Segments

     The Market Is Not Homogenous, Three Distinct Market Segments Branded Emerging Markets Branded Traditional Markets IP-Driven Markets Source: Datamonitor; EvaluatePharma; analyst reports.

118. Slide 118: Market Segment – Branded Emerging

     Market Segment – Branded Emerging Dispensing Drivers: Physician and Pharmacist Brand Importance: Very Important 2012 Size: $235B LOE Cliff: Smallest Branded Emerging Markets Branded Traditional Markets IP-Driven Markets Source: Datamonitor; EvaluatePharma; analyst reports.

119. Slide 119: Market Segment – Branded Traditional

     Market Segment – Branded Traditional Dispensing Drivers: Payers and Pharmacy Channel, with Physician and Pharmacy Influence Brand Importance: Moderate 2012 Size: $130B LOE Cliff: Moderate Branded Emerging Markets Branded Traditional Markets IP-Driven Markets Source: Datamonitor; EvaluatePharma; anal

120. Slide 120: Market Segment – IP-Driven

     Market Segment – IP-Driven Dispensing Drivers: Payers and Pharmacy Channel Brand Importance: Less Important 2012 Size: $150B LOE Cliff: Steepest Branded Emerging Markets Branded Traditional Markets IP-Driven Markets Source: Datamonitor; EvaluatePharma; analyst reports.

121. Slide 121: Our Competitive Advantage

     Our Competitive Advantage Strengths & Capabilities „ Strong brand recognition Š Track record of proven efficacy and safety „ Strong book of business today in established products Š Current portfolio about 4% of market „ Broad and deep commercial infrastructure around the world „ Excellence in Pharma

122. Slide 122: Our Competitive Advantage = Value Creation

     Our Competitive Advantage = Value Creation Leverage Strengths & Capabilities Our Product Portfolio „ Strong brand recognition Š Track record of proven efficacy and safety Become a World Leader „ Strong book of business today in in Product established products Enhancements and Š Current portfolio abo

123. Slide 123: Keys to Success

     Keys to Success Keeping the unit small, flexible, and focused on value creation Quickly building a new team that capitalizes on Pfizer’s strengths, spreads best practices and engages our regional marketers Adapting to local markets – sharp customer focus, willingness to be partners with regional/loc

124. Slide 124: Keys to Success

     Keys to Success Keeping the unit small, flexible, and focused on value creation Quickly building a new team that capitalizes on Pfizer’s strengths, spreads best practices and engages our regional marketers Adapting to local markets – sharp customer focus, willingness to be partners with regional/loc

125. Slide 125: Our Goal – Outpace Market Growth

     Our Goal – Outpace Market Growth Increase 1 Emphasis on Our Existing Portfolio Broaden the 2 Geographic Reach of Our Offerings Develop 3 Partnerships to Accelerate Our Pace

126. Slide 126: Growth Opportunities

     Growth Opportunities Accelerating Unlocking Value Optimizing the Growth in in Established Patented Emerging Markets Products Portfolio Asia Strategy Dudley David Ian Read Schleier Simmons

127. Slide 127: Optimizing the Patent-Protected Portfolio

     Optimizing the Patent-Protected Portfolio

128. Slide 128: Lipitor: Maintaining Leadership Under Intense Competition

     Lipitor: Maintaining Leadership Under Intense Competition Lipitor 2007 Worldwide Sales 2008 Focus U.S. „ Reinforce differentiation with Japan/Asia $7.8B compelling body of clinical $1.5B (+7%) (-6%) and outcomes evidence Canada/ „ Drive activities targeted at Latin new and continuing patients Americ

129. Slide 129: The Pain Conundrum

     The Pain Conundrum Underlying Condition Classes of Treatment Treating Physician $45B Opportunity Characterization Source: Wood Mackenzie

130. Slide 130: Lyrica: A Breakthrough for Fibromyalgia Sufferers

     Lyrica: A Breakthrough for Fibromyalgia Sufferers Rapid and Sustained Pain Relief Estimated % of Subjects With Long-Term Response 100 Placebo 90 LYRICA All Doses 53% of LYRICA 80 patients continued to 70 feel pain relief 60 50 40 30 1/2 of placebo 20 patients discontinued 10 by day 19 0 1 2 3 4 5 6

131. Slide 131: Lyrica: Rapid & Sustained Uptake

     TRx Volume (000) Lyrica: 0 200 400 600 800 1,000 1,200 1,400 Jan 06 Feb 06 Mar 06 Apr 06 May 06 Source: IMS Jun 06 Jul 06 $717M Aug 06 2006 Actual Sep 06 Oct 06 Nov 06 Dec 06 Rapid & Sustained Uptake Jan 07 Feb 07 Mar 07 Apr 07 May 07 Jun 07 Lyrica U.S. TRx Trajectory Jul 07 (+46%) $1,048M Aug 07 20

132. Slide 132: Lyrica's Multi-Channel Campaign

     Lyrica’s Multi-Channel Campaign In-pharmacy Voucher Program Adherence Materials Professional & Patient Websites LYRICA Call Center e-Newsletter/Webcast In-office Promotional Materials Direct Response TV Advertising TV and Print Patient Education

133. Slide 133: Global Lyrica Forward Plan: Differentiate, Grow and Expand

     Global Lyrica Forward Plan: Differentiate, Grow and Expand 2007 2008 + Core Indications Strengthen Core and Expand Restless Legs Syndrome Epilepsy Neuropathic Pain Neuropathic GAD Pain Post Op Epilepsy Pain Fibro Fibromyalgia GAD

134. Slide 134: Celebrex: Preserve Today & Set the Stage for Growth

     Celebrex: Preserve Today & Set the Stage for Growth Strengthen Repair the Patient- Optimize Near-Term Understanding of Physician Dialogue Execution Efficacy & Safety Mid-Term Completion of Large Safety Studies (CONDOR, PRECISION)

135. Slide 135: Pain Commercial Priorities

     Pain Commercial Priorities Pipeline s,s-reboxetine PF-4383119 PH-797804 Early-stage agents

136. Slide 136: CHANTIX

     CHANTIX (varentelin@) TABLETS Forward

137. Slide 137: Chantix: For Smokers Motivated to Quit

     Chantix: For Smokers Motivated to Quit 45M Smokers 25M Smokers in the U.S. Motivated to Quit Control Immature Takers Quitters 26% 25% 11.7M Desire to Quit Chantix Target MD/Rx- Defiant Dependent Smokers Quitters 20% 29% 13.0M Openness to Medical Intervention

138. Slide 138: Scope of the Worldwide Smoking Epidemic

     Scope of the Worldwide Smoking Epidemic 1.3 Billion Smokers Canada Europe Region 5M 215M Japan U.S. 27M 45M China India >300M >100M Brazil 18M Source: 2008 WHO Estimates

139. Slide 139: Building Momentum in Oncology… Focused on Breaking Science

     Building Momentum in Oncology… Focused on Breaking Science Global Oncology Market Revenue Projections 90 $85B 80 $14B Supportive Care 70 $57B 60 50 $13B $36B Targeted Agents 40 $19B Novel Immunotherapies 30 $6B $0.8B $8B Hormonals 20 $10B 10 $21B Cytotoxics $15B 0 2007 Actual 2013 Projected Source:

140. Slide 140: Portfolio Focused on the Right Mix of Tumors

     Portfolio Focused on the Right Mix of Tumors The Opportunity ($ billions) Pfizer Pipeline Portfolio Breast * $11.0 Sutent PF751 Colorectal * $8.3 Sutent axitinib treme Prostate * $5.5 Sutent PF751 Lung * $3.5 Sutent axitinib treme PF751 PanHER Stomach + $0.9 Sutent treme Pancreas + $0.7 axitinib Liv

141. Slide 141: Sutent – The Bedrock of Our Portfolio

     Sutent – The Bedrock of Our Portfolio U.S. Potential New Indications mRCC Patient Share – 1st Line Expected to Drive Value 70% 60% CRC 50% 53% es nu 40% ve NSCLC Re 30% HCC Nexavar, 25% 20% BC cytokine, 11% 10% Torisel, 7% RCC / GIST Other, 5% 0% J F M A M J J A S O N D 2007 Time Source: ImpactRx

142. Slide 142: Investing to Win in Oncology

     Investing to Win in Oncology Deliver the Portfolio Prepare to Launch Sutent for Breast Prepare to Launch Cancer & Other tremelimumab Indications Sustain Sutent as Customer RCC & GIST Asia Tumor Board Engagement Standards of Care Customer Access Planning Engagement

143. Slide 143: Investing to Win in Oncology

     Investing to Win in Oncology Deliver the Portfolio Prepare to Launch Sutent for Breast Prepare to Launch Cancer & Other tremelimumab Indications Sustain Sutent as Customer RCC & GIST Asia Tumor Board Engagement Standards of Care Customer Access Planning Engagement

144. Slide 144: Optimizing the Patent-Protected Portfolio

     Optimizing the Patent-Protected Portfolio

145. Slide 145: Right Products, Right Business Models, Right Geographies

     Right Products Right Business Models Right Geographies

146. Slide 146: Financial Overview

     Financial Overview Frank D’Amelio Chief Financial Officer

147. Slide 147: Full-Year Results – Adjusted Income Components

     Full-Year Results – Adjusted Income(1) Components ($ millions, except per-share amounts) Full-Year 2007 Full-Year 2006 Change Revenues(1) $48,209 $48,371 ― Cost of Sales(1) 7,693 7,209 7% SI&A Expenses(1) 15,220 15,357 (1%) R&D Expenses(1) 7,544 7,513 ― Adjusted Income(1) $15,113 $14,982 1% Adjusted

148. Slide 148: Cash Flow from Operations

     Cash Flow from Operations ($ billions) $17.6 $17.0 to $18.0 $14.7 $13.4 2005 2006 2007 2008 Guidance Continued Strong Cash Flow from Operations; Expect to Deliver Improved Total Shareholder Return

149. Slide 149: 2007 Financial Guidance vs. Actual

     2007 Financial Guidance vs. Actual 2007 Guidance Actual Adjusted Revenues(1) $47.5 to $48.0 Billion $48.2 Billion 3 Adjusted Cost of Sales(1) as a Percentage of Revenue Approx. 15.5% 16.0% Decrease of at least approx. Decrease of Adjusted SI&A $600 million versus 2006 on $560 million versus 2006 on

150. Slide 150: Dividend Growth

     Dividend Growth (quarterly dividend per share(1)) „ Strong Operating Cash Flow Has Supported Dividend Growth „ Dividend Yield: 5.75% (as of 2/29/08) $0.32 „ 10% Increase in First Quarter 2008 Dividend $0.29 $0.24 $0.19 $0.17 $0.15 $0.13 $0.11 $0.08 $0.09 $0.06 1998 1999 2000 2001 2002 2003 2004 2005

151. Slide 151: Share Purchases

     Share Purchases ($ billions) $13.0 $10.0 $6.7 $7.0 Up to $5.0 $5.0 $3.8 2002 2003 2004 2005 2006 2007 2008 & Beyond (1) Continued Strong Cash Position Supported the Purchase of Approximately 1.6 Billion Shares of Our Stock Over the Past 6 Years (1) In January 2008, the company announced that the Boa

152. Slide 152: 2008 Guidance

     2008 Guidance(1) Revenues $47.0 to $49.0 Billion Decrease of at least $1.5 – $2.0 Billion vs. 2006 Adjusted Total Costs(2)(3) on a constant currency basis(4) Adjusted Cost of Sales(2) 14.5% to 15.5% as a Percentage of Revenues Adjusted R&D Expenses(2) $7.3 to $7.6 Billion Adjusted SI&A Expenses(2) $

153. Slide 153: Multiple Strategies to Drive Revenue Growth

     Multiple Strategies to Drive Revenue Growth „ Strategies for growth Š Patent-protected portfolio Š Established products Š Emerging markets Š Innovation and continuous improvement Š Complementary businesses „ Strategies include business development opportunities „ Financial requirements for execution

154. Slide 154: Targeted Operating Margin

     Targeted Operating Margin „ By managing the mix of business and „ Managing the total cost structure – Cost of Sales, R&D and SI&A „ We expect to maintain overall operating margin in the mid- to high-30%s Will Proactively Size the Company as Appropriate to Align with Revenues

155. Slide 155: Proven Track Record of Managing Costs

     Proven Track Record of Managing Costs 12/31/04(1) 12/31/07 Change Manufacturing Sites 78 57 (27%) Outsourced Manufacturing (%) 9% 17% 8 pts. R&D Sites 15 10 (33%) Total Real Estate Sq. Footage 80 54 (33%) (in millions) Sales Force 36,300 28,000 (23%) Total Headcount 110,000 86,600 (21%) (1) In the f

156. Slide 156: Plans for Continued Cost Management

     Plans for Continued Cost Management Manufacturing Research and Development „ Increasing outsourced „ Utilizing Enhanced Clinical Trial manufacturing to 30%, while Design maintaining quality „ Applying Biotech Investment „ Reducing network of manufacturing Paradigm plants to 45 by year-end 2009 and w

157. Slide 157: Plans for Continued Cost Management

     Plans for Continued Cost Management Corporate Support Sales & Marketing „ Leveraging purchasing power „ Applying tiered customer through strategic partnerships and engagement model reducing number of suppliers „ Utilizing alternative customer „ Further reduction of global real estate channels footpr

158. Slide 158: Key Takeaways

     Key Takeaways „ Continue to deliver on near-term commitments „ Strategies expected to help mitigate revenue impacted by Lipitor’s loss of U.S. exclusivity and establish the foundation for revenue and earnings growth shortly thereafter „ Continue to establish a lower, more flexible cost base and main

159. Slide 159: Business Q&A Session

     Business Q&A Session Jeff Kindler Ian Read Dudley Schleier David Simmons Frank D’Amelio

160. Slide 160: Pfizer Analyst Day

     Pfizer Analyst Day March 5, 2008

Pfizer — Investor Day (March 2008) on 6ix