Slide 1: Fourth Quarter 2020 Earnings Teleconference
Fourth Quarter 2020 Earnings Teleconference February 2, 2021 Breakthroughs that change patients' lives ®
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 that are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such sta
Slide 4: Opening Remarks
Opening Remarks Albert Bourla Chairman and Chief Executive Officer
Slide 5: FY 2020 Revenues Grew 8% Operationally, Excluding Impact of Consumer and BNT162b2
FY 2020 Revenues Grew 8% Operationally, Excluding the Impact of Consumer and BNT162b2 Biosimilars $1,288M +170% op(1) $1,527M +68% op $5,850M +1% op $2,437M +9% op >20,500 patients diagnosed; Oncology: $866M +203% op, incl. U.S. $2,930M, (9%) U.S. $1,706M, +4% (+12% volume) >14,500 got prescription;
Slide 6: Updates on BNT162b2 First COVID-19 Vaccine Authorized For Use in Developed Markets
Updates on BNT162b2 First COVID-19 Vaccine Authorized For Use in Developed Markets - Pfizer and BioNTech announce collaboration to develop a COVID-19 vaccine on April 9, 2020 - Pfizer and BioNTech submit request to FDA for EUA of BNT162b2 on Nov. 20, 2020; EUA received on Dec. 11 Manufacturing and D
Slide 7: 5-Year Clinical Trial Success Rate Improvement
5-Year Clinical Trial Success Rate Improvement Clinical Trial Success Rates Phase 1 Phase 2 Phase 3/Reg. End-to-End (new molecular entities only) (3-year avg.) (5-year avg.) (5-year avg.) Success Rate Pfizer (through 2020) 48% 52% 85% 21% Industry(1) (through 2019) 40% 29% 72% 8% Pfizer (through 201
Slide 8: Selected Pipeline Updates
Selected Pipeline Updates INFLAMMATION & VACCINES RARE DISEASE IMMUNOLOGY • Marstacimab • Ritlecitinib (JAK3-TEC selective) • 20-Valent Pneumococcal ◦ Dosed first participant in Phase 3 ◦ Reported positive results in two Conjugate Vaccine (20vPnC) BASIS study for treatment of Phase 2 studies for vit
Slide 9: Selected Pipeline Updates (Continued)
Selected Pipeline Updates (Continued) INTERNAL MEDICINE ONCOLOGY • Vupanorsen • Encorafenib (Braftovi) ◦ Initiated Phase 2b clinical trial to evaluate potential ◦ Encouraging data in Phase 2 ANCHOR 1L to reduce cardiovascular risk and treat severe colorectal cancer study; initiated Phase 3 trial hyp
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 REVENUES ADJUSTED COST OF ADJUSTED R&D SALES(1) EXPENSES(1) $11.7B +11% op $2.9B +31% op $3.1B +24% op Primarily driven by negative impact of unfavorable Primarily driven by Vyndaqel, Prevnar 13, changes in product mix, COVID-19 related Primarily driven by highe
Slide 12: 2021 Financial Guidance
2021 Financial Guidance(1) Revenues $59.4 to $61.4 billion Adjusted Cost of Sales(1) as a Percentage of Revenues 32.0% to 33.0% Adjusted SI&A Expenses(1) $11.0 to $12.0 billion Adjusted R&D Expenses(1) $9.2 to $9.7 billion Adjusted Other (Income)/Deductions(1) Approximately $2.2 billion of income Ef
Slide 13: Assumptions Related To BNT162b2 within 2021 Financial Guidance
Assumptions Related To BNT162b2 within 2021 Financial Guidance(1) Revenues for BNT162b2 Approximately $15 billion Adjusted Income(1) Before Tax (IBT) High-20s as a Percentage of Revenues Margin For BNT162b2 Ü Revenue estimate primarily includes only those doses currently under contract to be deliver
Slide 14: Selected 2021 Financial Guidance Ranges Excluding BNT162b2
Selected 2021 Financial Guidance(1) Ranges Excluding BNT162b2 Revenues $44.4 to $46.4 billion Adjusted Cost of Sales(1) as a Percentage of 21% to 22% Revenues Adjusted Diluted EPS(1) $2.50 to $2.60 Midpoint of Revenue Range Reflects 6% Op Growth Compared to 2020 Revenues Excluding All Revenue Impact
Slide 15: Key Takeaways
Key Takeaways Delivered a solid quarter, highlighted by 11% operational revenue growth. With the Upjohn Business separation complete, FY 2020 revenues grew 3% op; excluding the impact from Consumer and $154 million of BNT162b2 sales, revenues grew 8% op Provided 2021 financial guidance(1), selected
Slide 16: Fourth Quarter 2020 Earnings Teleconference Q&A Session
Fourth Quarter 2020 Earnings Teleconference Q&A Session February 2, 2021 Breakthroughs that change patients' lives ®
Slide 17: Footnotes (Page 1 of 2)
Footnotes (Page 1 of 2) (1) The following acquisitions and other business development activity impacted financial results for the periods presented: ▪ On December 28, 2020, Myovant Sciences (Myovant) and Pfizer announced a collaboration to jointly develop and commercialize relugolix in advanced pros
Slide 18: Footnotes (Page 2 of 2)
Footnotes (Page 2 of 2) (4) Financial guidance for full-year 2021 reflects the assumptions listed on Slides 12-14 and the following: • Does not assume the completion of any business development transactions not completed as of December 31, 2020, including any one-time upfront payments associated wit