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Segment, Geographic and Other Revenue Information (Tables)
 6 Months Ended
Jun. 28, 2020
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
The following table provides selected income statement information by reportable segment:
 
 
Three Months Ended
 
 
Revenues
 
Earnings(a)
(MILLIONS OF DOLLARS)
 
June 28,
2020

 
June 30,
2019

 
June 28,
2020

 
June 30,
2019

Reportable Segments:
 
 
 
 
 
 
 
 
Biopharma
 
$
9,795

 
$
9,432

 
$
6,650

 
$
6,071

Upjohn
 
2,006

 
2,970

 
1,168

 
1,973

Total reportable segments
 
11,801

 
12,402

 
7,818

 
8,044

Other business activities
 
—

 
862

 
(1,530
)
 
(1,193
)
Reconciling Items:
 
 
 
 
 
 

 
 

Corporate and other unallocated
 
—

 
—

 
(1,136
)
 
(1,399
)
Purchase accounting adjustments
 
—

 
—

 
(910
)
 
(1,178
)
Acquisition-related costs
 
—

 
—

 
(21
)
 
176

Certain significant items(b)
 
—

 
—

 
(268
)
 
(309
)
 
 
$
11,801

 
$
13,264

 
$
3,953

 
$
4,141

 
 
 
Six Months Ended
 
 
Revenues
 
Earnings(a)
(MILLIONS OF DOLLARS)
 
June 28,
2020

 
June 30,
2019

 
June 28,
2020

 
June 30,
2019

Reportable Segments:
 
 
 
 
 
 
 
 
Biopharma
 
$
19,802

 
$
18,477

 
$
13,379

 
$
11,954

Upjohn
 
4,027

 
6,184

 
2,359

 
4,251

Total reportable segments
 
23,829

 
24,661

 
15,738

 
16,206

Other business activities
 
—

 
1,721

 
(3,019
)
 
(2,306
)
Reconciling Items:
 
 
 
 
 
 
 
 
Corporate and other unallocated
 
—

 
—

 
(2,245
)
 
(2,676
)
Purchase accounting adjustments
 
—

 
—

 
(1,722
)
 
(2,217
)
Acquisition-related costs
 
—

 
—

 
(34
)
 
148

Certain significant items(b)
 
—

 
—

 
(879
)
 
(691
)
 
 
$
23,829

 
$
26,382

 
$
7,838

 
$
8,463

(a) 
Income from continuing operations before provision/(benefit) for taxes on income. Biopharma’s earnings include dividend income of $76 million in the second quarter of 2020 and $76 million in the second quarter of 2019, and $153 million in the first six months of 2020 and $140 million in the first six months of 2019 from our investment in ViiV. For additional information, see Note 4.
(b) 
Certain significant items are substantive and/or unusual, and in some cases recurring, items (as noted above) that, either as a result of their nature or size, would not be expected to occur as part of our normal business on a regular basis.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
The following table provides selected income statement information by reportable segment:
 
 
Three Months Ended
 
 
Revenues
 
Earnings(a)
(MILLIONS OF DOLLARS)
 
June 28,
2020

 
June 30,
2019

 
June 28,
2020

 
June 30,
2019

Reportable Segments:
 
 
 
 
 
 
 
 
Biopharma
 
$
9,795

 
$
9,432

 
$
6,650

 
$
6,071

Upjohn
 
2,006

 
2,970

 
1,168

 
1,973

Total reportable segments
 
11,801

 
12,402

 
7,818

 
8,044

Other business activities
 
—

 
862

 
(1,530
)
 
(1,193
)
Reconciling Items:
 
 
 
 
 
 

 
 

Corporate and other unallocated
 
—

 
—

 
(1,136
)
 
(1,399
)
Purchase accounting adjustments
 
—

 
—

 
(910
)
 
(1,178
)
Acquisition-related costs
 
—

 
—

 
(21
)
 
176

Certain significant items(b)
 
—

 
—

 
(268
)
 
(309
)
 
 
$
11,801

 
$
13,264

 
$
3,953

 
$
4,141

 
 
 
Six Months Ended
 
 
Revenues
 
Earnings(a)
(MILLIONS OF DOLLARS)
 
June 28,
2020

 
June 30,
2019

 
June 28,
2020

 
June 30,
2019

Reportable Segments:
 
 
 
 
 
 
 
 
Biopharma
 
$
19,802

 
$
18,477

 
$
13,379

 
$
11,954

Upjohn
 
4,027

 
6,184

 
2,359

 
4,251

Total reportable segments
 
23,829

 
24,661

 
15,738

 
16,206

Other business activities
 
—

 
1,721

 
(3,019
)
 
(2,306
)
Reconciling Items:
 
 
 
 
 
 
 
 
Corporate and other unallocated
 
—

 
—

 
(2,245
)
 
(2,676
)
Purchase accounting adjustments
 
—

 
—

 
(1,722
)
 
(2,217
)
Acquisition-related costs
 
—

 
—

 
(34
)
 
148

Certain significant items(b)
 
—

 
—

 
(879
)
 
(691
)
 
 
$
23,829

 
$
26,382

 
$
7,838

 
$
8,463

(a) 
Income from continuing operations before provision/(benefit) for taxes on income. Biopharma’s earnings include dividend income of $76 million in the second quarter of 2020 and $76 million in the second quarter of 2019, and $153 million in the first six months of 2020 and $140 million in the first six months of 2019 from our investment in ViiV. For additional information, see Note 4.
(b) 
Certain significant items are substantive and/or unusual, and in some cases recurring, items (as noted above) that, either as a result of their nature or size, would not be expected to occur as part of our normal business on a regular basis.
Schedule of Revenues by Geographic Region
The following table provides revenues by geographic area:
 
 
Three Months Ended

Six Months Ended
(MILLIONS OF DOLLARS)
 
June 28,
2020

 
June 30,
2019

 
%
Change


June 28,
2020


June 30,
2019


%
Change

United States
 
$
5,402

 
$
6,335

 
(15
)

$
11,053


$
12,510


(12
)
Developed Europe(a)
 
2,088

 
2,228

 
(6
)

4,009


4,315


(7
)
Developed Rest of World(b)
 
1,552

 
1,639

 
(5
)

3,008


3,174


(5
)
Emerging Markets(c)
 
2,759

 
3,062

 
(10
)

5,759


6,383


(10
)
Revenues
 
$
11,801

 
$
13,264

 
(11
)

$
23,829


$
26,382


(10
)
(a) 
Developed Europe region includes the following markets: Western Europe, Scandinavian countries and Finland. Revenues denominated in euros were $1.7 billion in the second quarter of 2020 and $1.8 billion in the second quarter of 2019, and were $3.2 billion in the first six months of 2020 and $3.5 billion in the first six months of 2019.
(b) 
Developed Rest of World region includes the following markets: Japan, Canada, South Korea, Australia and New Zealand.
(c) 
Emerging Markets region includes, but is not limited to, the following markets: Asia (excluding Japan and South Korea), Latin America, Eastern Europe, Africa, the Middle East, Central Europe and Turkey.
Schedule of Significant Product Revenues
The following table provides detailed revenue information for several of our major products:
(MILLIONS OF DOLLARS)
 
 
 
Three Months Ended
 
Six Months Ended
PRODUCT
 
PRIMARY INDICATION OR CLASS
 
June 28,
2020

 
June 30,
2019

 
June 28,
2020

 
June 30,
2019

TOTAL REVENUES
 
 
 
$
11,801

 
$
13,264

 
$
23,829

 
$
26,382

PFIZER BIOPHARMACEUTICALS GROUP (BIOPHARMA)
 
$
9,795

 
$
9,432

 
$
19,802

 
$
18,477

Internal Medicine(a)
 
 
 
$
2,279

 
$
2,243

 
$
4,610

 
$
4,380

Eliquis alliance revenues and direct sales
 
Nonvalvular atrial fibrillation, deep vein thrombosis, pulmonary embolism
 
1,272

 
1,085

 
2,572

 
2,096

Chantix/Champix
 
An aid to smoking cessation treatment in adults 18 years of age or older
 
235

 
276

 
505

 
549

Premarin family
 
Symptoms of menopause
 
152

 
193

 
304

 
361

BMP2
 
Development of bone and cartilage
 
57

 
79

 
127

 
145

Toviaz
 
Overactive bladder
 
64

 
65

 
124

 
125

All other Internal Medicine
 
Various
 
498

 
544

 
978

 
1,103

Oncology
 
 
 
$
2,647

 
$
2,236

 
$
5,082

 
$
4,198

Ibrance
 
Metastatic breast cancer
 
1,349

 
1,261

 
2,598

 
2,394

Xtandi alliance revenues
 
Non-metastatic and metastatic castration-resistant prostate cancer and metastatic castration-sensitive prostate cancer
 
266

 
201

 
475

 
369

Sutent
 
Advanced and/or metastatic RCC, adjuvant RCC, refractory GIST (after disease progression on, or intolerance to, imatinib mesylate) and advanced pancreatic neuroendocrine tumor
 
209

 
248

 
414

 
480

Inlyta
 
Advanced RCC
 
195

 
104

 
364

 
177

Xalkori
 
ALK-positive and ROS1-positive advanced NSCLC
 
138

 
133

 
287

 
255

Bosulif
 
Philadelphia chromosome–positive chronic myelogenous leukemia
 
113

 
97

 
213

 
177

Retacrit(b)
 
Anemia
 
87

 
51

 
176

 
82

Braftovi
 
In combination with Mektovi for metastatic melanoma for patients who test positive for a BRAF genetic mutation and, in combination with Erbitux® (cetuximab), for the treatment of BRAFV600E-mutant metastatic colorectal cancer after prior therapy
 
36

 
—

 
74

 
—

Mektovi
 
In combination with Braftovi for metastatic melanoma for patients who test positive for a BRAF genetic mutation
 
32

 
—

 
69

 
—

All other Oncology
 
Various
 
221

 
140

 
412

 
262

Hospital(a), (c)
 
 
 
$
1,794

 
$
1,838

 
$
3,807

 
$
3,665

Sulperazon
 
Bacterial infections
 
102

 
165

 
289

 
342

Medrol
 
Anti-inflammatory glucocorticoid
 
78

 
120

 
207

 
240

Zithromax
 
Bacterial infections
 
55

 
73

 
193

 
177

Precedex
 
Sedation agent in surgery or intensive care
 
114

 
40

 
156

 
80

Vfend
 
Fungal infections
 
75

 
94

 
149

 
178

Panzyga
 
Primary humoral immunodeficiency
 
63

 
44

 
136

 
61


(MILLIONS OF DOLLARS)
 
 
 
Three Months Ended
 
Six Months Ended
PRODUCT
 
PRIMARY INDICATION OR CLASS
 
June 28,
2020

 
June 30,
2019

 
June 28,
2020

 
June 30,
2019

Zyvox
 
Bacterial infections
 
55

 
71

 
125

 
134

Fragmin
 
Treatment/prevention of venous thromboembolism
 
58

 
63

 
118

 
123

Pfizer CentreOne(d)
 
Various
 
224

 
204

 
376

 
380

All other Anti-infectives
 
Various
 
367

 
420

 
811

 
825

All other Hospital(c)
 
Various
 
603

 
544

 
1,245

 
1,124

Vaccines
 
 
 
$
1,247

 
$
1,375

 
$
2,857

 
$
2,988

Prevnar 13/Prevenar 13
 
Pneumococcal disease
 
1,116

 
1,179

 
2,566

 
2,665

Nimenrix
 
Meningococcal disease
 
56

 
58

 
130

 
107

All other Vaccines
 
Various
 
75

 
138

 
161

 
215

Inflammation & Immunology (I&I)
 
$
1,149

 
$
1,219

 
$
2,127

 
$
2,256

Xeljanz
 
RA, PsA, UC
 
635

 
613

 
1,086

 
1,036

Enbrel (Outside the U.S. and Canada)
 
RA, juvenile idiopathic arthritis, PsA, plaque psoriasis, pediatric plaque psoriasis, ankylosing spondylitis and nonradiographic axial spondyloarthritis
 
337

 
420

 
684

 
871

Inflectra/Remsima(b)
 
Crohn’s disease, pediatric Crohn’s disease, UC, pediatric UC, RA in combination with methotrexate, ankylosing spondylitis, PsA and plaque psoriasis
 
150

 
153

 
308

 
291

All other I&I
 
Various
 
26

 
34

 
48

 
59

Rare Disease
 
 
 
$
681

 
$
521

 
$
1,319

 
$
991

Vyndaqel/Vyndamax
 
ATTR-cardiomyopathy and polyneuropathy
 
277

 
63

 
508

 
104

BeneFIX
 
Hemophilia B
 
109

 
121

 
230

 
247

Genotropin
 
Replacement of human growth hormone
 
106

 
125

 
209

 
232

Refacto AF/Xyntha
 
Hemophilia A
 
91

 
108

 
181

 
214

Somavert
 
Acromegaly
 
67

 
68

 
131

 
128

All other Rare Disease
 
Various
 
31

 
35

 
61

 
66

UPJOHN(a)
 
 
 
$
2,006

 
$
2,970

 
$
4,027

 
$
6,184

Lipitor
 
Reduction of LDL cholesterol
 
431

 
407

 
836

 
1,029

Lyrica
 
Epilepsy, post-herpetic neuralgia and diabetic peripheral neuropathy, fibromyalgia, neuropathic pain due to spinal cord injury
 
349

 
1,175

 
706

 
2,362

Norvasc
 
Hypertension
 
222

 
216

 
419

 
516

Celebrex
 
Arthritis pain and inflammation, acute pain
 
139

 
174

 
295

 
347

Viagra
 
Erectile dysfunction
 
94

 
114

 
222

 
259

Effexor
 
Depression and certain anxiety disorders
 
86

 
86

 
163

 
163

Zoloft
 
Depression and certain anxiety disorders
 
79

 
73

 
157

 
143

EpiPen(a)
 
Epinephrine injection used in treatment of life-threatening allergic reactions
 
64

 
67

 
136

 
123

Xalatan/Xalacom
 
Glaucoma and ocular hypertension
 
65

 
72

 
126

 
133

All other Upjohn
 
Various
 
476

 
587

 
968

 
1,109

CONSUMER HEALTHCARE BUSINESS(e)
 
$
—

 
$
862

 
$
—

 
$
1,721

Total Alliance revenues
 
 
 
$
1,404

 
$
1,187

 
$
2,786

 
$
2,277

Total Biosimilars(b)
 
 
 
$
289

 
$
217

 
$
578

 
$
396

Total Sterile Injectable Pharmaceuticals(f)
 
$
1,237

 
$
1,218

 
$
2,644

 
$
2,455


(a) 
Beginning in 2020, Upjohn began managing our Meridian subsidiary, the manufacturer of EpiPen and other auto-injector products, and a pre-existing strategic collaboration between Pfizer and Mylan for generic drugs in Japan (Mylan-Japan). As a result, revenues associated with our Meridian subsidiary, except for product revenues for EpiPen sold in Canada, and Mylan-Japan, are reported in our Upjohn business beginning in the first quarter of 2020. We have reclassified revenues associated with our Meridian subsidiary and Mylan-Japan from the Hospital and Internal Medicine categories to the Upjohn business to conform 2019 product revenues to the current presentation.
(b) 
Biosimilars are highly similar versions of approved and authorized biological medicines and primarily include revenues from Inflectra/Remsima and Retacrit.
(c) 
Hospital is a business unit that commercializes our global portfolio of sterile injectable and anti-infective medicines. Hospital also includes Pfizer CentreOne(d). All other Hospital primarily includes revenues from legacy Sterile Injectables Pharmaceuticals (SIP) products (that are not anti-infective products) and, to a much lesser extent, solid oral dose products (that are not anti-infective products). SIP anti-infective products that are not individually listed above are recorded in “All other Anti-infectives”.
(d) 
Pfizer CentreOne includes revenues from our contract manufacturing and active pharmaceutical ingredient sales operation, including sterile injectables contract manufacturing, and revenues related to our manufacturing and supply agreements.
(e) 
On July 31, 2019, Pfizer’s Consumer Healthcare business, an over-the-counter medicines business, was combined with GSK’s consumer healthcare business to form a new consumer healthcare joint venture. For additional information, see Note 2B.
(f) 
Total Sterile Injectable Pharmaceuticals represents the total of all branded and generic injectable products in the Hospital business, including anti-infective sterile injectable pharmaceuticals.