Pfizer Inc. is a research-based global biopharmaceutical company. It operates in the discovery, development, manufacture, marketing, sale, and distribution of biopharmaceutical products worldwide. Its key markets include the U.S. and international developed and emerging markets. The company's primary revenue stream is from the sale of biopharmaceutical products, with additional revenue from detection of illnesses and R&D services for select biotech companies.

Pfizer collaborates with healthcare providers, governments, and local communities to support access to healthcare. It emphasizes innovation and invests heavily in R&D. The company also engages in business development activities, including acquisitions and collaborations, to enhance its capabilities and portfolio.

As of December 14, 2023, Pfizer completed the acquisition of Seagen, expanding its oncology portfolio. Other significant business developments in 2023 include the divestiture of its early-stage rare disease gene therapy portfolio.

Pfizer's competitive landscape includes other global biopharmaceutical companies, smaller research companies, and generic drug manufacturers. The company faces competition in efficacy, safety, ease of use, and cost of its products.

• Employees: 88,000 (as of December 31, 2023)
• Geographic Footprint: 200 countries and territories
• Headquarters: New York, New York
• Founded: 1942
• Number of locations/facilities: 284
• Revenue: $58.5 billion (FY2023)
• Key Subsidiaries/Brands: Seagen, Hospira, Wyeth, Prevnar, Eliquis, Xeljanz, Ibrance, Vyndaqel, Xtandi, Inlyta

• CEO: Albert Bourla (Chairman since January 2020, CEO since January 2019)
• CFO: David M. Denton (since May 2022)
• Chief Oncology Officer: Chris Boshoff (since December 2023)
• Chief International Commercial Officer: Alexandre de Germay (since December 2023)
• Chief U.S. Commercial Officer: Aamir Malik (since December 2023)
• Chief Scientific Officer, President, Pfizer Research and Development: Mikael Dolsten (since July 2023)
• Chief Digital and Technology Officer: Lidia Fonseca (since January 2019)
• Chief Compliance, Quality and Risk Officer: Rady A. Johnson (since January 2019)
• General Counsel: Douglas M. Lankler (since December 2013)
• Chief Global Supply Officer: Michael McDermott (since January 2022)
• Chief People Experience Officer: Payal Sahni (since January 2022)
• Chief Corporate Affairs Officer: Sally Susman (since January 2019)

• Annual Revenue: $58.5 billion (FY2023)
• Net Income: $2.1 billion (FY2023)
• Total Assets: $226.5 billion (FY2023)
• Number of Employees: 88,000 (as of December 31, 2023)
• Key Financial Highlights (FY2023):
  • 42% decrease in total revenues compared to FY2022, primarily due to lower sales of Comirnaty and Paxlovid
  • Non-cash revenue reversal of $3.5 billion for Paxlovid in Q4 2023
  • 7% operational revenue growth excluding Comirnaty and Paxlovid
  • Completed acquisition of Seagen

Pfizer's main product categories include innovative medicines and vaccines across a range of therapeutic areas. The company also provides detection products for certain illnesses and R&D services to select biotech companies.

• Oncology: Ibrance, Xtandi, Inlyta, Bosulif, Lorbrena, Braftovi, Mektovi, Padcev, Adcetris, Talzenna, Tukysa, Elrexfio, and Tivdak
• Internal Medicine: Eliquis, Premarin family, BMP2
• Migraine: Nurtec ODT/Vydura, Zavzpret
• Vaccines: Comirnaty, Prevnar family, Abrysvo, FSME/IMMUN-TicoVac, Nimenrix, Trumenba
• Hospital: Sulperazon, Zavicefta, Zithromax, Medrol, Panzyga
• Inflammation & Immunology: Xeljanz, Enbrel (outside U.S. and Canada), Inflectra, Cibingo, Litfulo, Velsipity
• Rare Disease: Vyndaqel family, Genotropin, BeneFIX, Oxbryta, Somavert, Ngenla
• COVID-19 Treatment: Paxlovid
• COVID-19 and Influenza Detection: Lucira

As of 2023, Pfizer operated with two segments: Biopharma (innovative science-based biopharmaceuticals) and Business Innovation (contract development and manufacturing, specialty ingredients, and R&D services). Biopharma was the only reportable segment in 2023, with further internal divisions for Primary Care, Specialty Care, and Oncology.

Starting January 1, 2024, Pfizer reorganized its Biopharma segment into three commercial divisions: Pfizer Oncology Division, Pfizer U.S. Commercial Division, and Pfizer International Commercial Division.

Pfizer's current strategy centers around delivering a pipeline of differentiated medicines and vaccines, achieving long-term R&D leadership, and fostering innovative partnerships. The company prioritizes internal R&D in key therapeutic areas, including inflammation and immunology, internal medicine, oncology, rare diseases, vaccines, and anti-infectives, while also seeking external collaborations and acquisitions.

Key strategic initiatives include the acquisition of Seagen, the divestiture of its gene therapy portfolio, and restructuring programs aimed at cost reduction, cycle time optimization, and portfolio prioritization. Pfizer also aims to maximize growth opportunities by leveraging an aging global population and advancements in biological science and platform technologies.

Pfizer operates in the global biopharmaceutical industry. The industry is characterized by intense competition, stringent regulations, and pricing pressures. Key market trends include an aging global population, increasing demand for innovative medicines and vaccines, and a growing focus on cost containment by governments and payers.

Major competitors include other global biopharmaceutical companies, smaller research-focused firms, and generic drug manufacturers. The industry also faces challenges from biosimilars and the increasing influence of managed care organizations.

• Competition: Intense competition from branded, generic, and biosimilar products, potentially impacting sales and requiring continuous innovation.
• Patent Expirations and Litigation: Loss of patent protection can lead to generic competition and revenue erosion, with ongoing litigation posing uncertainty.
• R&D Uncertainty: Lengthy and costly drug development process with potential for failure at any stage, impacting pipeline productivity.
• Global Operations Risks: Exposure to currency fluctuations, economic instability, and geopolitical events, impacting international operations.
• Government Regulation and Pricing Pressures: Extensive regulations and pricing controls, particularly in the U.S. with the Inflation Reduction Act, can significantly impact profitability and access to medicines.