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Segment, Geographic and Other Revenue Information (Tables) | 9 Months Ended
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Oct. 02, 2022
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information by Segment |
The following provides selected income statement information by reportable segment:
|  | Three Months Ended |  | Nine Months Ended
|  | Revenues |  | Earnings(a) |  | Revenues |  | Earnings(a)
(MILLIONS) |  | October 2, 2022 |  | October 3, 2021 |  | October 2, 2022 |  | October 3, 2021 |  | October 2, 2022 |  | October 3, 2021 |  | October 2, 2022 |  | October 3, 2021
Reportable Segment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Biopharma |  | $ | 22,319 |  |  | $ | 23,513 |  |  | $ | 14,665 |  |  | $ | 11,848 |  |  | $ | 75,066 |  |  | $ | 56,101 |  |  | $ | 45,222 |  |  | $ | 29,952 |
Other business activities(b) |  | 319 |  |  | 521 |  |  | (4,007) |  |  | (3,303) |  |  | 974 |  |  | 1,348 |  |  | (9,820) |  |  | (7,778) |
Reconciling Items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of intangible assets |  | — |  |  | — |  |  | (822) |  |  | (980) |  |  | — |  |  | — |  |  | (2,478) |  |  | (2,778) |
Acquisition-related items |  | — |  |  | — |  |  | (62) |  |  | (41) |  |  | — |  |  | — |  |  | (331) |  |  | (14) |
Certain significant items(c) |  | — |  |  | — |  |  | (773) |  |  | 318 |  |  | — |  |  | — |  |  | (3,095) |  |  | 1,102 |
|  | $ | 22,638 |  |  | $ | 24,035 |  |  | $ | 9,001 |  |  | $ | 7,843 |  |  | $ | 76,040 |  |  | $ | 57,450 |  |  | $ | 29,498 |  |  | $ | 20,484 |
(a)I ncome from continuing operations before provision/(benefit) for taxes on income. Biopharma’s earnings include dividend income from our investment in ViiV of $112 million in the third quarter of 2022 and $38 million in the third quarter of 2021, and $237 million in the first nine months of 2022 and $127 million in the first nine months of 2021. 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 $105 million of costs for the first six months of 2022, $57 million of costs in the third quarter of 2021 and $153 million of costs in the first nine months of 2021 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 PC1 and costs that we do not allocate to our operating segments, per above, including acquired IPR&D expenses in the periods presented. In the third quarter and first nine months of 2022, earnings include $426 million of acquired IPR&D expenses for an upfront payment related to the closing of the acquisition of ReViral, as well as a charge to Cost of sales of approximately $400 million related to excess raw materials for Paxlovid. Earnings in the first nine months of 2022 also include write-offs to Cost of sales of inventory, related to COVID-19 products that have exceeded or are expected to exceed their approved shelf-lives prior to being used, of $516 million. In the third quarter and first nine months of 2021, earnings include $706 million of acquired IPR&D expenses associated with our collaboration with Arvinas. (c)Certain significant items are substantive and/or unusual, and in some cases recurring, items (as noted above). Earnings in the first nine months of 2022 includes, among other items: (i) net losses on equity securities of $1.3 billion recorded in Other (income)/deductions––net and (ii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $701 million ($344 million recorded in Selling, informational and administrative expenses and the remaining amounts primarily recorded in Restructuring charges and certain acquisition-related costs). Earnings in the first nine months of 2021 includes, among other items: (i) net gains on equity securities of $1.6 billion recorded in Other (income)/deductions––net and (ii) actuarial valuation and other pension and postretirement plan gains of $932 million recorded in Other (income)/deductions––net, partially offset by (iii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $1.1 billion ($310 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related costs). Earnings in the third quarter of 2021 includes, among other items: (i) actuarial valuation and other pension and postretirement plan gains of $899 million recorded in Other (income)/deductions––net, partially offset by (ii) restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $823 million ($150 million recorded in Selling, informational and administrative expenses and the remaining amount primarily recorded in Restructuring charges and certain acquisition-related costs). For additional information, 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) |  | October 2, 2022 |  | October 3, 2021 |  | % Change |  | October 2, 2022 |  | October 3, 2021 |  | % Change
United States |  | $ | 13,851 |  |  | $ | 7,020 |  |  | 97 |  |  | $ | 33,991 |  |  | $ | 22,066 |  |  | 54 |
Developed Europe |  | 3,136 |  |  | 6,221 |  |  | (50) |  |  | 14,705 |  |  | 13,836 |  |  | 6 |
Developed Rest of World |  | 2,351 |  |  | 4,498 |  |  | (48) |  |  | 10,671 |  |  | 8,617 |  |  | 24 |
Emerging Markets |  | 3,300 |  |  | 6,296 |  |  | (48) |  |  | 16,673 |  |  | 12,930 |  |  | 29 |
Revenues |  | $ | 22,638 |  |  | $ | 24,035 |  |  | (6) |  |  | $ | 76,040 |  |  | $ | 57,450 |  |  | 32 |
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 |  | Oct. 2, 2022 |  | Oct. 3, 2021 |  | Oct. 2, 2022 |  | Oct. 3, 2021
TOTAL REVENUES(a) |  |  |  | $ | 22,638 |  |  | $ | 24,035 |  |  | $ | 76,040 |  |  | $ | 57,450 |
GLOBAL BIOPHARMACEUTICALS BUSINESS (BIOPHARMA)(a), (b) |  | $ | 22,319 |  |  | $ | 23,513 |  |  | $ | 75,066 |  |  | $ | 56,101 |
Primary Care |  |  |  | $ | 15,846 |  |  | $ | 16,680 |  |  | $ | 55,676 |  |  | $ | 35,804 |
Comirnaty direct sales and alliance revenues(c) |  | Active immunization to prevent COVID-19 |  | 4,402 |  |  | 12,977 |  |  | 26,477 |  |  | 24,277 |
Paxlovid |  | COVID-19 infection (high risk population) |  | 7,514 |  |  | — |  |  | 17,099 |  |  | — |
Eliquis alliance revenues and direct sales |  | Nonvalvular atrial fibrillation, deep vein thrombosis, pulmonary embolism |  | 1,464 |  |  | 1,346 |  |  | 5,001 |  |  | 4,470 |
Prevnar family(d) |  | Pneumococcal disease |  | 1,607 |  |  | 1,447 |  |  | 4,601 |  |  | 3,971 |
Premarin family |  | Symptoms of menopause |  | 110 |  |  | 148 |  |  | 327 |  |  | 420 |
Nimenrix |  | Meningococcal ACWY disease |  | 79 |  |  | 51 |  |  | 221 |  |  | 145 |
BMP2 |  | Development of bone and cartilage |  | 58 |  |  | 71 |  |  | 201 |  |  | 186 |
FSME-IMMUN/TicoVac |  | Tick-borne encephalitis disease |  | 67 |  |  | 47 |  |  | 177 |  |  | 161 |
Toviaz |  | Overactive bladder |  | 30 |  |  | 56 |  |  | 130 |  |  | 174 |
Trumenba |  | Meningococcal B disease |  | 60 |  |  | 52 |  |  | 108 |  |  | 102 |
Chantix/Champix |  | An aid to smoking cessation treatment in adults 18 years of age or older |  | 4 |  |  | 7 |  |  | 8 |  |  | 409 |
All other Primary Care |  | Various |  | 451 |  |  | 479 |  |  | 1,326 |  |  | 1,490 |
Specialty Care |  |  |  | $ | 3,404 |  |  | $ | 3,749 |  |  | $ | 10,267 |  |  | $ | 11,205 |
Vyndaqel/Vyndamax |  | ATTR-CM and polyneuropathy |  | 602 |  |  | 501 |  |  | 1,766 |  |  | 1,454 |
Xeljanz |  | RA, PsA, UC, active polyarticular course juvenile idiopathic arthritis, ankylosing spondylitis |  | 502 |  |  | 610 |  |  | 1,304 |  |  | 1,734 |
Enbrel (Outside the U.S. and Canada) |  | RA, juvenile idiopathic arthritis, PsA, plaque psoriasis, pediatric plaque psoriasis, ankylosing spondylitis and nonradiographic axial spondyloarthritis |  | 230 |  |  | 283 |  |  | 767 |  |  | 888 |
Sulperazon |  | Bacterial infections |  | 178 |  |  | 181 |  |  | 598 |  |  | 515 |
Inflectra |  | Crohn’s disease, pediatric Crohn’s disease, UC, pediatric UC, RA in combination with methotrexate, ankylosing spondylitis, PsA and plaque psoriasis |  | 131 |  |  | 172 |  |  | 403 |  |  | 485 |
Ig Portfolio(e) |  | Various |  | 124 |  |  | 99 |  |  | 356 |  |  | 311 |
BeneFIX |  | Hemophilia B |  | 99 |  |  | 104 |  |  | 325 |  |  | 328 |
Zavicefta |  | Bacterial infections |  | 98 |  |  | 107 |  |  | 302 |  |  | 306 |
Genotropin |  | Replacement of human growth hormone |  | 90 |  |  | 95 |  |  | 261 |  |  | 284 |
Zithromax |  | Bacterial infections |  | 71 |  |  | 66 |  |  | 250 |  |  | 198 |
Medrol |  | Anti-inflammatory glucocorticoid |  | 79 |  |  | 109 |  |  | 235 |  |  | 320 |
Fragmin |  | Treatment/prevention of venous thromboembolism |  | 60 |  |  | 74 |  |  | 202 |  |  | 223 |
Somavert |  | Acromegaly |  | 70 |  |  | 70 |  |  | 202 |  |  | 203 |
Refacto AF/Xyntha |  | Hemophilia A |  | 58 |  |  | 69 |  |  | 188 |  |  | 235 |
Vfend |  | Fungal infections |  | 51 |  |  | 51 |  |  | 171 |  |  | 204 |
All other Anti-infectives |  | Various |  | 374 |  |  | 455 |  |  | 1,123 |  |  | 1,384 |
All other Specialty Care |  | Various |  | 586 |  |  | 702 |  |  | 1,816 |  |  | 2,134 |
Oncology |  |  |  | $ | 3,070 |  |  | $ | 3,085 |  |  | $ | 9,124 |  |  | $ | 9,091 |
Ibrance |  | HR-positive/HER2-negative metastatic breast cancer |  | 1,283 |  |  | 1,381 |  |  | 3,841 |  |  | 4,039 |
Xtandi alliance revenues |  | mCRPC, nmCRPC, mCSPC |  | 320 |  |  | 309 |  |  | 878 |  |  | 879 |
Inlyta |  | Advanced RCC |  | 252 |  |  | 256 |  |  | 760 |  |  | 742 |
Zirabev |  | Treatment of mCRC; unresectable, locally advanced, recurrent or metastatic NSCLC; recurrent glioblastoma; metastatic RCC; and persistent, recurrent or metastatic cervical cancer |  | 146 |  |  | 96 |  |  | 432 |  |  | 311 |
Bosulif |  | Philadelphia chromosome–positive chronic myelogenous leukemia |  | 141 |  |  | 136 |  |  | 425 |  |  | 395 |
Xalkori |  | ALK-positive and ROS1-positive advanced NSCLC |  | 118 |  |  | 116 |  |  | 362 |  |  | 371 |
Ruxience |  | Non-hodgkin’s lymphoma, chronic lymphocytic leukemia, granulomatosis with polyangiitis (Wegener’s Granulomatosis) and microscopic polyangiitis |  | 120 |  |  | 124 |  |  | 357 |  |  | 343 |
(MILLIONS) |  |  |  | Three Months Ended |  | Nine Months Ended
PRODUCT |  | PRIMARY INDICATION OR CLASS |  | Oct. 2, 2022 |  | Oct. 3, 2021 |  | Oct. 2, 2022 |  | Oct. 3, 2021
Retacrit |  | Anemia |  | 87 |  |  | 110 |  |  | 308 |  |  | 322 |
Sutent |  | Advanced and/or metastatic RCC, adjuvant RCC, refractory GIST (after disease progression on, or intolerance to, imatinib mesylate) and advanced pancreatic neuroendocrine tumor |  | 75 |  |  | 142 |  |  | 287 |  |  | 537 |
Lorbrena |  | ALK-positive metastatic NSCLC |  | 99 |  |  | 67 |  |  | 247 |  |  | 193 |
Bavencio alliance revenues |  | Locally advanced or metastatic urothelial carcinoma; metastatic Merkel cell carcinoma; immunotherapy and tyrosine kinase inhibitor combination for patients with advanced RCC |  | 73 |  |  | 54 |  |  | 198 |  |  | 122 |
Aromasin |  | Post-menopausal early and advanced breast cancer |  | 66 |  |  | 56 |  |  | 187 |  |  | 159 |
Besponsa |  | Relapsed or refractory B-cell acute lymphoblastic leukemia |  | 55 |  |  | 50 |  |  | 164 |  |  | 145 |
Braftovi |  | In combination with Mektovi for metastatic melanoma in patients with a BRAF V600E/K mutation and, in combination with Erbitux® (cetuximab)(f), for the treatment of BRAF V600E -mutant mCRC after prior therapy |  | 58 |  |  | 47 |  |  | 156 |  |  | 136 |
Trazimera |  | HER-positive breast cancer and metastatic stomach cancers |  | 51 |  |  | 45 |  |  | 149 |  |  | 131 |
Mektovi |  | In combination with Braftovi for metastatic melanoma in patients with a BRAF V600E/K mutation |  | 45 |  |  | 41 |  |  | 129 |  |  | 112 |
All other Oncology |  | Various |  | 80 |  |  | 53 |  |  | 243 |  |  | 155 |
PFIZER CENTREONE(b) |  | $ | 319 |  |  | $ | 521 |  |  | $ | 974 |  |  | $ | 1,348 |
Total Alliance revenues included above |  | $ | 1,689 |  |  | $ | 2,068 |  |  | $ | 6,320 |  |  | $ | 5,718 |
(a)On December 31, 2021, we completed the sale of our Meridian subsidiary. Prior to its sale, Meridian was managed as part of the former Hospital therapeutic area (see footnote (b) below). Beginning in the fourth quarter of 2021, the financial results of Meridian are reflected as discontinued operations. See Note 1A. (b)See Note 1A for information about our recent organizational changes. PC1 includes revenues from our contract manufacturing, including certain Comirnaty-related manufacturing activities performed on behalf of BioNTech ($7 million and $108 million for the third quarter and the first nine months of 2022, respectively, and $187 million and $274 million for the third quarter and the first nine months of 2021, 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, including but not limited to, transitional manufacturing and supply agreements with Viatris following the spin-off of the Upjohn Business. Prior to the fourth quarter of 2021, PC1 was managed within our former Hospital product portfolio. (c)Excludes revenues for certain Comirnaty-related manufacturing activities performed on behalf of BioNTech, which are included in the PC1 contract development and manufacturing organization. (d)Prevnar family include revenues from Prevnar 13/Prevenar 13 (pediatric and adult) and Prevnar 20/Apexxnar (adult). (e)Immunoglobulin (Ig) portfolio includes the revenues from Panzyga, Octagam and Cutaquig. (f)Erbitux® is a registered trademark of ImClone LLC.

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