Segment, Geographic and Other Revenue Information (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Segment Reporting Information by Segment


The following provides selected information by reportable segment:
	Three Months Ended								Six Months Ended
	Total Revenues				Earnings(a)				Total Revenues				Earnings(a)
(MILLIONS)	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023
Reportable Segment:
Biopharma(b)	$	12,991	$	12,690	$	5,897	$	5,042	$	27,595	$	30,863	$	13,519	$	14,559
Other business activities(c)	292		317		(1,985)		(910)		567		630		(3,992)		(2,225)
Reconciling Items:
Amortization of intangible assets					(1,307)		(1,184)						(2,615)		(2,287)
Acquisition-related items					(617)		(387)						(1,125)		(550)
Certain significant items(d)					(2,091)		(293)						(2,469)		(958)
	$	13,283	$	13,007	$	(103)	$	2,269	$	28,162	$	31,492	$	3,318	$	8,539

(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 $2.0 billion and $3.4 billion of net costs in the second quarter and first six 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 six 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 $74 million in the second quarter of 2024 and $91 million in the second quarter of 2023, and $135 million in the first six months of 2024 and $183 million in the first six months of 2023.

(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 second quarter and first six months of 2024 includes, among other items, restructuring charges/(credits) and implementation costs and additional depreciation—asset restructuring of $1.2 billion (primarily recorded in Restructuring charges and certain acquisition-related costs). See Note 3.

Schedule of Revenues by Geographic Region


The following summarizes revenues by geographic area:
	Three Months Ended					Six Months Ended
(MILLIONS)	June 30, 2024		July 2, 2023		% Change	June 30, 2024		July 2, 2023		% Change
United States	$	7,892	$	6,458	22	$	17,406	$	15,169	15
International:
Developed Markets	3,164		4,125		(23)	6,362		9,759		(35)
Emerging Markets	2,227		2,423		(8)	4,394		6,564		(33)
Total revenues	$	13,283	$	13,007	2	$	28,162	$	31,492	(11)

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	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023
TOTAL REVENUES		$	13,283	$	13,007	$	28,162	$	31,492
GLOBAL BIOPHARMACEUTICALS BUSINESS (BIOPHARMA)		$	12,991	$	12,690	$	27,595	$	30,863
Primary Care		$	4,952	$	5,884	$	12,163	$	17,444
Eliquis(a)	Nonvalvular atrial fibrillation, deep vein thrombosis, pulmonary embolism	1,877		1,762		3,917		3,636
Prevnar family	Active immunization to prevent pneumonia, invasive disease and otitis media caused by Streptococcus pneumoniae	1,359		1,431		3,050		3,033
Paxlovid(b)	COVID-19 in certain high-risk patients	251		143		2,286		4,212
Comirnaty	Active immunization to prevent COVID-19	195		1,488		548		4,552
Nurtec ODT/Vydura	Acute treatment of migraine and prevention of episodic migraine	356		247		533		414
Abrysvo	Active immunization to prevent RSV infection	56		—		201		—
Premarin family	Symptoms of menopause	108		95		193		207
FSME-IMMUN/TicoVac	Active immunization to prevent tick-borne encephalitis disease	100		101		165		146
All other Primary Care	Various	651		616		1,269		1,244
Specialty Care		$	4,083	$	3,656	$	7,926	$	7,272
Vyndaqel family	ATTR-CM and polyneuropathy	1,323		782		2,460		1,468
Xeljanz	RA, PsA, UC, active polyarticular course juvenile idiopathic arthritis, ankylosing spondylitis	303		469		497		706
Enbrel (Outside the U.S. and Canada)	RA, juvenile idiopathic arthritis, PsA, plaque psoriasis, pediatric plaque psoriasis, ankylosing spondylitis and nonradiographic axial spondyloarthritis	179		219		338		419
Sulperazon	Bacterial infections	144		177		311		497
Zavicefta	Bacterial infections	150		132		275		248


(MILLIONS)		Three Months Ended				Six Months Ended
PRODUCT	PRIMARY INDICATION OR CLASS	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023
Zithromax	Bacterial infections	74		44		274		194
Inflectra	Crohn’s disease, pediatric Crohn’s disease, UC, pediatric UC, RA in combination with methotrexate, ankylosing spondylitis, PsA and plaque psoriasis	97		74		255		252
Genotropin	Replacement of human growth hormone	119		74		239		222
BeneFIX	Hemophilia B	103		106		206		215
Octagam	Primary humoral immunodeficiency, chronic immune thrombocytopenic purpura in adults, and dermatomyositis in adults	104		66		179		111
Oxbryta	Sickle cell disease	92		77		176		148
Cibinqo	Atopic dermatitis	47		38		89		54
All other Hospital(c)	Various	1,114		1,213		2,188		2,365
All other Specialty Care	Various	234		185		440		373
Oncology		$	3,956	$	3,149	$	7,505	$	6,146
Ibrance	HR-positive/HER2-negative metastatic breast cancer	1,130		1,247		2,184		2,391
Xtandi(d)	mCRPC, nmCRPC, mCSPC, nmCSPC	495		423		913		763
Padcev	Locally advanced or metastatic urothelial cancer	394		—		735		—
Oncology biosimilars(e)	Various	279		363		543		775
Adcetris	Hodgkin lymphoma and certain T-cell lymphomas	279		—		536		—
Inlyta	Advanced RCC	252		262		489		521
Lorbrena	ALK-positive metastatic NSCLC	169		121		332		234
Bosulif	Philadelphia chromosome–positive chronic myelogenous leukemia	167		154		313		304
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)(f) for the treatment of BRAFV600E-mutant mCRC after prior therapy	148		113		264		215
Tukysa	Unresectable or metastatic HER2-positive breast cancer; RAS wild-type, HER2-positive unresectable or metastatic colorectal cancer	121		—		227		—
Tivdak	Recurrent or metastatic cervical cancer	33		—		60		—
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	32		12		55		22
All other Oncology	Various	457		455		853		923
PFIZER CENTREONE(g)		$	278	$	307	$	535	$	615
PFIZER IGNITE		$	15	$	10	$	32	$	14

BIOPHARMA		$	12,991	$	12,690	$	27,595	$	30,863
PFIZER U.S. COMMERCIAL DIVISION (U.S. Primary Care and U.S. Specialty Care)		4,911		4,200		11,764		10,815
PFIZER ONCOLOGY DIVISION		2,918		2,167		5,490		4,150
PFIZER INTERNATIONAL COMMERCIAL DIVISION		5,163		6,323		10,341		15,898

Total Alliance revenues included above		$	2,067	$	1,967	$	4,240	$	4,028
Total Royalty revenues included above		$	345	$	273	$	608	$	477

(a)Primarily reflects Alliance revenues and product revenues.

(b)The first six months of 2024 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)Includes, among other Hospital products, amounts previously presented as All other Anti-infectives and Ig Portfolio.

(d)Primarily reflects Alliance revenues and royalty revenues.

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

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

(g)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.