Slide 1: First Quarter 2024 Earnings Teleconference
First Quarter 2024 Earnings Teleconference May 1, 2024 Breakthroughs that change patients' lives ®
Slide 2: Introduction
Introduction Francesca DeMartino Chief Investor Relations Officer, Senior Vice President
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: Q1 2024: Strong Start to the Year
Q1 2024: Strong Start to the Year Breakthroughs that change patients’ lives. >119M Patients Impacted1 YTD Q1 2024 with our medicines and vaccines 1. See Slides 15-16 for definition. First Quarter 2024 Earnings 5
Slide 6: 2024 Key Priorities
2024 Key Priorities Executing with excellence against our strategic goals • Achieve world-class oncology leadership • Deliver the next wave of pipeline innovation • Maximize performance of our new products • Expand margins by realigning our cost base • Allocate capital to enhance shareholder value F
Slide 7: Achieve World-Class Oncology Leadership
Achieve World-Class Oncology Leadership Successful Q1 2024: Oncology 2030 Oncology Integration Revenues +19% Op Goals2 • Highly experienced, best-of-both 1 1 • Double # of patients treated organizations • Increase # of blockbuster3 • Amplified impact of medical and medicines from 5 to 8+ commercial
Slide 8: Deliver Next Wave of Pipeline Innovation
Deliver Next Wave of Pipeline Innovation Excellent Progress in Sharpened Focus Across Oncology Therapeutic Areas • Three pivotal Phase 3 study starts in Q1 2024: • Advancing respiratory portfolio: • Atirmociclib selective CDK4 inhibitor • Sigvotatug vedotin integrin-beta-6-directed ADC • ELREXFIO 4t
Slide 9: Maximize Performance of New Products
Maximize Performance of New Products Key Potential Growth Drivers Protect / Grow Core Franchises and Key Blockbusters Prevnar family1 family2 1. Prevnar family includes revenues from Prevnar 20/Apexxnar (pediatric and adult) and Prevnar 13/Prevenar 13 (pediatric and adult). 2. Vyndaqel family includ
Slide 10: Financial Review
Financial Review David Denton Chief Financial Officer, Executive Vice President
Slide 11: Quarterly Income Statement Highlights
Quarterly Income Statement Highlights Revenues Adjusted2 Cost of Sales Adjusted2 SI&A Expenses $14.9B (19)% op $3.0B (34)% op $3.5B 3% op $12.5B1 11% op 2 Excluding Comirnaty and Paxlovid, op 20.4%3 5.3 ppts Primarily driven by an increase in marketing and promotional expenses for recently acquired
Slide 12: Q1 2024: Allocating Capital to Enhance Shareholder Value
Q1 2024: Allocating Capital to Enhance Shareholder Value Driving a balanced capital allocation strategy to reinvest in our business and return value to shareholders Maintain and De-lever Our Reinvest in Share Grow Our Balance Sheet Business Repurchases1 Dividend $2.4B $1.3B $2.5B None planned Return
Slide 13: 2024 Financial Guidance
2024 Financial Guidance1: Maintains 2024 Revenue Range and Raises Adjusted1 Diluted EPS Range Revenues $58.5 to $61.5 Billion Adjusted1 SI&A Expenses $13.8 to $14.8 Billion Adjusted1 R&D Expenses $11.0 to $12.0 Billion Effective Tax Rate on Adjusted1 Income ~15.0% 1 $2.15 to $2.35 Adjusted Diluted E
Slide 14: Q&A Session
Q&A Session Albert Bourla David Denton Chris Boshoff Alexandre de Germay Chairman and CEO Chief Financial Officer, EVP Chief Oncology Officer, EVP Chief International Commercial Officer, EVP Mikael Dolsten Doug Lankler Aamir Malik Francesca DeMartino Chief Scientific Officer & General Counsel, EVP C
Slide 15: Footnotes (Page 1 of 2)
Footnotes (Page 1 of 2) (1) As used in this document, “Comirnaty” refers to, as applicable, and as authorized or approved, the Pfizer-BioNTech COVID-19 Vaccine; Comirnaty (COVID-19 Vaccine, mRNA) original monovalent formula; the Pfizer-BioNTech COVID-19 Vaccine, Bivalent (Original and Omicron BA.4/B
Slide 16: Footnotes (Page 2 of 2)
Footnotes (Page 2 of 2) (6) References to operational variances in this presentation pertain to period-over-period changes that exclude the impact of foreign exchange rates. Although foreign exchange rate changes are part of Pfizer’s business, they are not within Pfizer’s control and because they ca