The company completed several acquisitions, including Prometheus Biosciences and Imago BioSciences, indicating a focus on expanding its pipeline and capabilities through external partnerships and acquisitions.

The company entered into collaboration agreements with Daiichi Sankyo and Gilead, highlighting a strategic focus on oncology and HIV therapeutics. These collaborations aim to enhance the company's portfolio in key therapeutic areas.

The company's business in China has grown rapidly and is dependent on a favorable environment for innovative products and vaccines. This indicates a significant focus on growing business in emerging markets.

The company maintains a strong emphasis on R&D, with approximately 21,800 employees in research activities. This underscores the company's commitment to innovation and pipeline development.

The company approved a new restructuring program aimed at optimizing manufacturing and supply network, indicating a proactive approach to improving operational efficiency and reducing costs.

The company attempts to mitigate potential risks associated with raw materials and components through inventory and supplier management, suggesting a focus on supply chain resilience.

The company acknowledges that patent expirations for key products like Keytruda and Bridion will lead to significant and rapid sales declines, highlighting a major risk to future revenue streams.

The company faces increasing pricing pressure from governments and managed care organizations, as well as regulatory changes such as the Inflation Reduction Act, indicating potential challenges to profitability.

The company acknowledges increasing dependence on sophisticated software and computing infrastructure and the risk of cyber-attacks, as well as the impact of privacy and data protection laws, which could disrupt operations and increase costs.

The company operates in highly competitive markets, including pharmaceutical, generic drugs, and animal health, indicating a need for continuous innovation and effective marketing strategies to maintain market share.

The company faces increasing competition from generic and biosimilar products, which can lead to price reductions and product displacements, highlighting a challenge to maintaining market exclusivity.

The company is actively acquiring and marketing products through external alliances and collaborations, as well as refining sales and marketing efforts, highlighting a focus on innovation and strategic partnerships to remain competitive.

The company is implementing cost-reduction measures and restructuring programs, indicating a focus on optimizing operations and improving efficiency.

The company attempts to mitigate potential risks associated with raw materials, components and supplies through inventory and appropriate supplier management, suggesting a focus on supply chain resilience.

The company acknowledges potential difficulties and delays in manufacturing, including compliance issues and supply chain disruptions, which could impact its ability to meet demand.

The company maintains a significant investment in R&D and a focus on breakthrough science for unmet medical needs, indicating a strong commitment to innovation.

The company is actively pursuing external collaborations and alliances to supplement its internal research, indicating a strategic approach to leveraging external innovation.

The company is leveraging new and innovative technologies to improve business processes, indicating a commitment to digital transformation and technological advancements.

The company increased its quarterly dividend and repurchased $1.3 billion of its common stock, indicating a commitment to returning capital to shareholders.

The company is allocating capital towards acquisitions and collaborations to expand its pipeline and capabilities, indicating a focus on long-term growth.

The company is investing in capital projects, including expanding manufacturing capacity and research facilities, indicating a commitment to supporting future growth.

The company has adopted climate goals and is implementing various initiatives to reduce greenhouse gas emissions, waste, and water usage, demonstrating a commitment to environmental sustainability.

The company fosters a diverse and inclusive workforce and is proactive in diversity hiring and development programs, highlighting a commitment to social responsibility.

The company is committed to expanding access to its medicines and vaccines through various programs and collaborations, demonstrating a focus on social impact.

The company faces ongoing pricing pressures from governments and other third parties, highlighting the challenges of operating in a cost-sensitive healthcare environment.

The company is subject to various regulatory and legislative changes, such as the Inflation Reduction Act, which could negatively affect drug pricing and profitability.

The company is focused on expanding in emerging markets, but faces challenges such as pricing pressures, intellectual property risks, and political and economic instability, highlighting the complex nature of operating in these regions.