Segment, Geographic and Other Revenue Information (Tables)

6 Months Ended

Jul. 02, 2023

Schedule of Segment Reporting Information by Segment


The following provides selected income statement information by reportable segment:
	Three Months Ended								Six Months Ended
	Revenues				Earnings(a)				Revenues				Earnings(a)
(MILLIONS)	July 2, 2023		July 3, 2022		July 2, 2023		July 3, 2022		July 2, 2023		July 3, 2022		July 2, 2023		July 3, 2022
Reportable Segment:
Biopharma	$	12,418	$	27,425	$	7,003	$	17,166	$	30,389	$	52,748	$	17,939	$	30,557
Other business activities(b)	316		317		(2,871)		(3,384)		626		655		(5,605)		(5,812)
Reconciling Items:
Amortization of intangible assets					(1,184)		(822)						(2,287)		(1,657)
Acquisition-related items					(387)		(82)						(550)		(269)
Certain significant items(c)					(293)		(1,431)						(958)		(2,322)
	$	12,734	$	27,742	$	2,269	$	11,447	$	31,015	$	53,402	$	8,539	$	20,497

(a)Income from continuing operations before provision/(benefit) for taxes on income. Biopharma’s earnings include dividend income from our investment in ViiV of $91 million in the second quarter of 2023 and $69 million in the second quarter of 2022, and $183 million in the first six months of 2023 and $125 million in the first six months of 2022. In connection with the organizational changes effective in the third quarter of 2022, certain functions transferred between Biopharma and corporate enabling functions and certain activities were realigned within the GPD organization. We have reclassified $58 million of costs in the second quarter of 2022 and $105 million in the first six months of 2022 from corporate enabling functions, which are included in Other business activities, to Biopharma to conform to the current period presentation.

(b)Other business activities include revenues and costs associated with Business Innovation and costs that we do not allocate to our operating segments, per above, including acquired IPR&D expenses in the periods presented. Earnings in the second quarter and first six months of 2023 include approximately $140 million and $260 million, respectively, of write-offs to Cost of sales of inventory related to COVID-19 products that exceeded or were expected to exceed their approved shelf-lives prior to being used. Earnings in the second quarter and first six months of 2022 included a $450 million write-off to Cost of sales of inventory related to COVID-19 products that exceeded or were expected to exceed their approved shelf-lives prior to being used.

(c)Certain significant items are substantive and/or unusual, and in some cases recurring, items (as noted above). Earnings in the second quarter and first six months of 2022 included, among other items, net losses on equity securities of $539 million and $1.2 billion, respectively, recorded in Other (income)/deductions––net. See Note 4.

Schedule of Revenues by Geographic Region


The following summarizes revenues by geographic area:
	Three Months Ended					Six Months Ended
(MILLIONS)	July 2, 2023		July 3, 2022		% Change	July 2, 2023		July 3, 2022		% Change
United States	$	6,185	$	11,222	(45)	$	14,692	$	20,140	(27)
Developed Europe	2,415		5,480		(56)	5,236		11,569		(55)
Developed Rest of World	1,305		5,034		(74)	3,778		8,320		(55)
Emerging Markets	2,828		6,006		(53)	7,308		13,373		(45)
Revenues	$	12,734	$	27,742	(54)	$	31,015	$	53,402	(42)

Schedule of Significant Product Revenues

The following provides detailed revenue information for several of our major products:


(MILLIONS)		Three Months Ended				Six Months Ended
PRODUCT	PRIMARY INDICATION OR CLASS	July 2, 2023		July 3, 2022		July 2, 2023		July 3, 2022
TOTAL REVENUES		$	12,734	$	27,742	$	31,015	$	53,402
GLOBAL BIOPHARMACEUTICALS BUSINESS (BIOPHARMA)(a)		$	12,418	$	27,425	$	30,389	$	52,748
Primary Care		$	5,810	$	20,979	$	17,315	$	39,830
Comirnaty direct sales and alliance revenues(b)	Active immunization to prevent COVID-19	1,488		8,848		4,552		22,075
Paxlovid	COVID-19 in certain high-risk patients	143		8,115		4,212		9,585
Eliquis alliance revenues and direct sales	Nonvalvular atrial fibrillation, deep vein thrombosis, pulmonary embolism	1,762		1,745		3,636		3,537
Prevnar family	Active immunization to prevent pneumonia, invasive disease and otitis media caused by Streptococcus pneumoniae	1,388		1,429		2,981		2,994
Nurtec ODT/Vydura	Acute treatment of migraine and prevention of episodic migraine	247		—		414		1
Premarin family	Symptoms of menopause	95		115		207		217
BMP2	Bone graft for spinal fusion	84		75		170		142
FSME-IMMUN/TicoVac	Active immunization to prevent tick-borne encephalitis disease	101		68		146		110
Nimenrix	Active immunization against invasive meningococcal ACWY disease	38		65		78		142
All other Primary Care	Various	463		519		919		1,026
Specialty Care		$	3,653	$	3,358	$	7,264	$	6,863
Vyndaqel family	ATTR-CM and polyneuropathy	782		552		1,468		1,164
Xeljanz	RA, PsA, UC, active polyarticular course juvenile idiopathic arthritis, ankylosing spondylitis	469		430		706		802
Sulperazon	Bacterial infections	177		210		497		420
Enbrel (Outside the U.S. and Canada)	RA, juvenile idiopathic arthritis, PsA, plaque psoriasis, pediatric plaque psoriasis, ankylosing spondylitis and nonradiographic axial spondyloarthritis	219		257		419		537
Ig Portfolio(c)	Various	163		125		288		232
Inflectra	Crohn’s disease, pediatric Crohn’s disease, UC, pediatric UC, RA in combination with methotrexate, ankylosing spondylitis, PsA and plaque psoriasis	74		137		252		272
Zavicefta	Bacterial infections	132		100		248		204
Genotropin	Replacement of human growth hormone	74		91		222		171
BeneFIX	Hemophilia B	106		113		215		225
Zithromax	Bacterial infections	44		54		194		180
Medrol	Anti-inflammatory glucocorticoid	80		79		173		155
Oxbryta	Sickle cell disease	77		—		148		—
Somavert	Acromegaly	65		64		131		132
Fragmin	Treatment/prevention of venous thromboembolism	59		72		117		142
Refacto AF/Xyntha	Hemophilia A	56		64		116		129
Vfend	Fungal infections	56		54		107		119
Cresemba	Fungal infections	54		33		101		73
Bicillin	Bacterial infections	53		48		97		73
Cibinqo	Atopic dermatitis	38		1		54		6
All other Anti-infectives	Various	269		286		550		603
All other Specialty Care	Various	606		586		1,159		1,224
Oncology		$	2,956	$	3,088	$	5,811	$	6,055
Ibrance	HR-positive/HER2-negative metastatic breast cancer	1,247		1,320		2,391		2,557
Xtandi alliance revenues	mCRPC, nmCRPC, mCSPC	305		290		564		558
Inlyta	Advanced RCC	262		274		521		508
Bosulif	Philadelphia chromosome–positive chronic myelogenous leukemia	154		156		304		284
Zirabev	Treatment of mCRC; unresectable, locally advanced, recurrent or metastatic NSCLC; recurrent glioblastoma; metastatic RCC; and persistent, recurrent or metastatic cervical cancer	106		138		235		286
Lorbrena	ALK-positive metastatic NSCLC	121		77		234		149


(MILLIONS)		Three Months Ended				Six Months Ended
PRODUCT	PRIMARY INDICATION OR CLASS	July 2, 2023		July 3, 2022		July 2, 2023		July 3, 2022
Ruxience	Non-hodgkin’s lymphoma, chronic lymphocytic leukemia, granulomatosis with polyangiitis (Wegener’s Granulomatosis) and microscopic polyangiitis	100		113		214		237
Xalkori	ALK-positive and Proto-Oncogene 1, Receptor Tyrosine Kinase-positive advanced NSCLC	86		118		197		244
Retacrit	Anemia	87		106		180		221
Bavencio alliance revenues	Locally advanced or metastatic urothelial carcinoma; metastatic Merkel cell carcinoma; immunotherapy and tyrosine kinase inhibitor combination for patients with advanced RCC	83		58		168		125
Aromasin	Post-menopausal early and advanced breast cancer	72		59		149		121
Besponsa	Relapsed or refractory B-cell acute lymphoblastic leukemia	59		58		117		109
Braftovi	In combination with Mektovi for metastatic melanoma in patients with a BRAFV600E/K mutation and, in combination with Erbitux® (cetuximab)(d), for the treatment of BRAFV600E -mutant mCRC after prior therapy	50		51		99		98
Sutent	Advanced and/or metastatic RCC, adjuvant RCC, refractory gastrointestinal stromal tumors (after disease progression on, or intolerance to, imatinib mesylate) and advanced pancreatic neuroendocrine tumor	45		97		94		211
Mektovi	In combination with Braftovi for metastatic melanoma in patients with a BRAFV600E/K mutation	43		44		83		84
Trazimera	HER2-positive breast cancer and metastatic stomach cancers	33		46		67		98
All other Oncology	Various	102		82		194		163
BUSINESS INNOVATION(a)		$	316	$	317	$	626	$	655
Pfizer CentreOne(e)	Various	306		317		611		655
Pfizer Ignite	Various	10		—		14		—

Total Alliance revenues included above		$	1,967	$	2,317	$	4,028	$	4,631

(a)See Note 1A in our 2022 Form 10-K for information about our recent organizational changes within Biopharma. See Note 13A above for information about Business Innovation. Prior-period financial information has been revised to reflect the current period presentation.

(b)Excludes revenues for certain Comirnaty-related manufacturing activities performed on behalf of BioNTech, which are included in the PC1 contract development and manufacturing organization. See footnote (e) below.

(c)Immunoglobulin (Ig) portfolio includes the revenues from Panzyga, Octagam and Cutaquig.

(d)Erbitux® is a registered trademark of ImClone LLC.

(e)PC1 includes revenues from our contract manufacturing, including certain Comirnaty-related manufacturing activities performed on behalf of BioNTech ($6 million and $10 million for the second quarter and the first six months of 2023, respectively, and $55 million and $101 million for the second quarter and the first six months of 2022, respectively), and revenues from our active pharmaceutical ingredient sales operation, as well as revenues related to our manufacturing and supply agreements with former legacy Pfizer businesses/partnerships.