Segment, Geographic and Other Revenue Information (Tables)

9 Months Ended

Sep. 29, 2024

Schedule of Segment Reporting Information by Segment


The following provides selected information by reportable segment:
	Three Months Ended								Nine Months Ended
	Total Revenues				Earnings(a)				Total Revenues				Earnings(a)
(MILLIONS)	Sept. 29, 2024		Oct. 1, 2023		Sept. 29, 2024		Oct. 1, 2023		Sept. 29, 2024		Oct. 1, 2023		Sept. 29, 2024		Oct. 1, 2023
Reportable Segment:
Biopharma(b)	$	17,392	$	13,188	$	8,319	$	(137)	$	44,987	$	44,051	$	21,838	$	14,422
Other business activities(c)	310		303		(1,527)		(1,100)		877		933		(5,520)		(3,325)
Reconciling Items:
Amortization of intangible assets					(1,312)		(1,179)						(3,927)		(3,466)
Acquisition-related items					(465)		(227)						(1,590)		(778)
Certain significant items(d)					(299)		(708)						(2,768)		(1,666)
	$	17,702	$	13,491	$	4,715	$	(3,352)	$	45,864	$	44,984	$	8,033	$	5,187

(a)Income/(loss) from continuing operations before provision/(benefit) for taxes on income/(loss). As described above, in connection with the organizational changes effective in the first quarter of 2024, costs associated with R&D and medical and safety activities managed by our global ORD and PRD organizations and overhead costs associated with our manufacturing operations are now included in Biopharma’s earnings. We have reclassified $7.7 billion and $11.1 billion of net costs in the third quarter and first nine months of 2023, respectively, from Other business activities to Biopharma to conform to the current period presentation.

(b)Biopharma’s revenues and earnings in the first nine months of 2024 reflect a non-cash favorable product return adjustment of $771 million recorded in the first quarter of 2024 (see Note 13C). Biopharma’s earnings also include dividend income from our investment in ViiV of $48 million in the third quarter of 2024 and $30 million in the third quarter of 2023, and $183 million in the first nine months of 2024 and $213 million in the first nine months of 2023. Biopharma’s earnings in the third quarter and first nine months of 2023 include approximately $5.6 billion and $5.8 billion, respectively, of inventory write-offs and related charges to Cost of sales mainly due to lower-than-expected demand for our COVID-19 products.

(c)Other business activities include revenues and costs associated with PC1 and Pfizer Ignite as well as costs that we do not allocate to our operating segments, per above.

(d)Certain significant items are substantive and/or unusual, and in some cases recurring, items (as noted above). Earnings in the third quarter and first nine months of 2024 include, among other items, a charge in Other (income)/deductions––net of $420 million related to the expected sale of one of our facilities resulting from the discontinuation of our DMD program. Earnings in the first nine months of 2024 also includes restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $1.5 billion (primarily recorded in Restructuring charges and certain acquisition-related costs). Earnings in the first nine months of 2023 included, among other items, net losses on equity securities of $711 million recorded in Other (income)/deductions––net. See Notes 3 and 4.

Schedule of Revenues by Geographic Region


The following summarizes revenues by geographic area:
	Three Months Ended					Nine Months Ended
(MILLIONS)	September 29, 2024		October 1, 2023		% Change	September 29, 2024		October 1, 2023		% Change
United States	$	12,064	$	8,064	50	$	29,470	$	23,233	27
International:
Developed Markets	3,412		3,335		2	9,774		13,094		(25)
Emerging Markets	2,226		2,092		6	6,620		8,656		(24)
Total revenues	$	17,702	$	13,491	31	$	45,864	$	44,984	2

Schedule of Significant Product Revenues

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


(MILLIONS)		Three Months Ended				Nine Months Ended
PRODUCT	PRIMARY INDICATION OR CLASS	Sept. 29, 2024		Oct. 1, 2023		Sept. 29, 2024		Oct. 1, 2023
TOTAL REVENUES		$	17,702	$	13,491	$	45,864	$	44,984
GLOBAL BIOPHARMACEUTICALS BUSINESS (BIOPHARMA)		$	17,392	$	13,188	$	44,987	$	44,051
Primary Care		$	9,060	$	6,310	$	21,224	$	23,755
Eliquis(a)	Nonvalvular atrial fibrillation, deep vein thrombosis, pulmonary embolism	1,617		1,498		5,534		5,135
Paxlovid(b)	COVID-19 in certain high-risk patients	2,703		202		4,989		4,414
Prevnar family	Active immunization to prevent pneumonia, invasive disease and otitis media caused by Streptococcus pneumoniae	1,803		1,843		4,853		4,877
Comirnaty	Active immunization to prevent COVID-19	1,422		1,306		1,970		5,858
Nurtec ODT/Vydura	Acute treatment of migraine and prevention of episodic migraine	337		233		870		646
Abrysvo	Active immunization to prevent RSV infection	356		375		557		375
Premarin family	Symptoms of menopause	90		92		283		299
FSME-IMMUN/TicoVac	Active immunization to prevent tick-borne encephalitis disease	81		91		246		237
All other Primary Care	Various	652		670		1,921		1,914
Specialty Care		$	4,289	$	3,763	$	12,215	$	11,035
Vyndaqel family	ATTR-CM and polyneuropathy	1,447		892		3,907		2,360
Xeljanz	RA, PsA, UC, active polyarticular course juvenile idiopathic arthritis, ankylosing spondylitis	321		503		818		1,210
Enbrel (Outside the U.S. and Canada)	RA, juvenile idiopathic arthritis, PsA, plaque psoriasis, pediatric plaque psoriasis, ankylosing spondylitis and nonradiographic axial spondyloarthritis	169		208		507		627
Sulperazon	Bacterial infections	156		122		468		619
Zavicefta	Bacterial infections	152		130		427		378


(MILLIONS)		Three Months Ended				Nine Months Ended
PRODUCT	PRIMARY INDICATION OR CLASS	Sept. 29, 2024		Oct. 1, 2023		Sept. 29, 2024		Oct. 1, 2023
Octagam(c)	Primary humoral immunodeficiency, chronic immune thrombocytopenic purpura in adults, and dermatomyositis in adults	221		53		400		164
Inflectra	Crohn’s disease, pediatric Crohn’s disease, UC, pediatric UC, RA in combination with methotrexate, ankylosing spondylitis, PsA and plaque psoriasis	126		121		382		373
Genotropin	Replacement of human growth hormone	119		158		358		379
Zithromax	Bacterial infections	83		60		357		254
BeneFIX	Hemophilia B	88		107		294		321
Oxbryta(d)	Sickle cell disease	17		85		193		232
Cibinqo	Atopic dermatitis	63		37		152		91
All other Hospital(e)	Various	1,108		1,086		3,296		3,452
All other Specialty Care	Various	218		202		658		575
Oncology		$	4,043	$	3,115	$	11,549	$	9,261
Ibrance	HR-positive/HER2-negative metastatic breast cancer	1,087		1,244		3,272		3,635
Xtandi(f)	mCRPC, nmCRPC, mCSPC, nmCSPC	561		440		1,474		1,202
Padcev	Locally advanced or metastatic urothelial cancer	409		—		1,144		—
Oncology biosimilars(g)	Various	285		310		828		1,085
Adcetris	Hodgkin lymphoma and certain T-cell lymphomas	268		—		804		—
Inlyta	Advanced RCC	247		252		736		773
Lorbrena	ALK-positive metastatic NSCLC	206		159		538		393
Bosulif	Philadelphia chromosome–positive chronic myelogenous leukemia	161		160		474		463
Braftovi/Mektovi	Metastatic melanoma in patients with a BRAFV600E/K mutation and for metastatic NSCLC in patients with a BRAFV600E mutation; and, for Braftovi, in combination with Erbitux (cetuximab)(h) for the treatment of BRAFV600E-mutant mCRC after prior therapy	173		131		437		346
Tukysa	Unresectable or metastatic HER2-positive breast cancer; RAS wild-type, HER2-positive unresectable or metastatic colorectal cancer	124		—		351		—
Tivdak	Recurrent or metastatic cervical cancer	34		—		94		—
Talzenna	In combination with Xtandi (enzalutamide) for adult patients with HRR gene-mutated mCRPC; treatment of BRCA gene-mutated, HER2-negative, inoperable or recurrent breast cancer	36		20		91		42
All other Oncology	Various	453		399		1,306		1,322
PFIZER CENTREONE(i)		$	285	$	293	$	820	$	908
PFIZER IGNITE		$	25	$	10	$	56	$	25

BIOPHARMA		$	17,392	$	13,188	$	44,987	$	44,051
PFIZER U.S. COMMERCIAL DIVISION (U.S. Primary Care and U.S. Specialty Care)		8,938		5,864		20,702		16,679
PFIZER ONCOLOGY DIVISION		3,026		2,111		8,516		6,260
PFIZER INTERNATIONAL COMMERCIAL DIVISION		5,428		5,214		15,769		21,112

Total Alliance revenues included above		$	1,900	$	1,645	$	6,140	$	5,672
Total Royalty revenues included above		$	384	$	260	$	992	$	737

(a)Primarily reflects Alliance revenues and product revenues.

(b)The third quarter and first nine months of 2024 includes $442 million of revenue recorded in connection with the creation of the U.S. SNS. The first nine months of 2024 also includes a $771 million favorable final adjustment recorded in the first quarter of 2024 to the estimated non-cash revenue reversal of $3.5 billion recorded in the fourth quarter of 2023, reflecting 5.1 million EUA-labeled treatment courses returned by the U.S. government through February 29, 2024 versus the estimated 6.5 million treatment courses that were expected to be returned as of December 31, 2023.

(c)The third quarter and first nine months of 2024 include $129 million related to a one-time sales true-up settlement agreement with our commercialization partner.

(d)In September 2024, we announced our voluntary withdrawal of all lots of Oxbryta for the treatment of sickle cell disease in all markets where it is approved, as well as the discontinuation of all active voxelotor clinical trials and expanded access programs worldwide, based on the totality of clinical data that now indicates the overall benefit of Oxbryta no longer outweighs the risk in the approved sickle cell patient population. The data suggest an imbalance in vaso-occlusive crises and fatal events, which requires further assessment.

(e)Includes, among other Hospital products, amounts previously presented as All other Anti-infectives and Ig Portfolio.

(f)Primarily reflects Alliance revenues and royalty revenues.

(g)Biosimilars are highly similar versions of approved and authorized biological medicines. Oncology biosimilars primarily include Retacrit, Ruxience, Zirabev, Trazimera and Nivestym.

(h)Erbitux is a registered trademark of ImClone LLC.

(i)PC1 includes revenues from our contract manufacturing and our active pharmaceutical ingredient sales operation, as well as revenues related to our manufacturing and supply agreements with legacy Pfizer businesses/partnerships.