Pfizer Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Pfizer Inc. has filed its 2023 10-K report detailing financial performance and corporate information.</b>

AI Summary

PFIZER INC (PFE) filed a Annual Report (10-K) with the SEC on February 22, 2024. Pfizer Inc. filed its 2023 Form 10-K on February 22, 2024, reporting on the fiscal year ending December 31, 2023. The filing covers financial data and business operations for Pfizer Inc., a company in the Pharmaceutical Preparations industry (SIC 2834). Key financial statement items such as common stock, additional paid-in capital, retained earnings, and treasury stock are detailed for fiscal years 2020-2023. The report includes specific details on debt, including current debt and long-term debt, as well as accounts payable. Pfizer Inc.'s principal business address is 66 Hudson Boulevard East, New York, NY 10001-2192, with a phone number of 212-733-2323.

Why It Matters

For investors and stakeholders tracking PFIZER INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Pfizer's financial health and operational status for the fiscal year 2023, crucial for investors and stakeholders to assess the company's performance and future outlook. The detailed financial data, including balance sheet items and debt information, allows for a thorough analysis of Pfizer's financial stability and its ability to manage its obligations and capital structure.

Risk Assessment

Risk Level: medium — PFIZER INC shows moderate risk based on this filing. The filing is a standard annual report (10-K), which typically contains a broad range of financial and operational information. While it doesn't highlight immediate crises, the sheer volume and detail of financial data, including debt and various equity components, necessitate careful review to identify potential risks.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Pfizer's financial position, debt levels, and any disclosed operational or market risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-22 — Filing Date (Filed as of date)
• 176 — Public Document Count (Total number of documents in the filing)
• 0000078003-24-000039 — Accession Number (Unique identifier for the filing)

Key Players & Entities

• PFIZER INC (company) — Filer name
• 2023-12-31 (date) — Conformed period of report
• 2024-02-22 (date) — Filed as of date
• 2834 (industry_code) — Standard Industrial Classification for Pharmaceutical Preparations
• 66 HUDSON BOULEVARD EAST (address) — Business address street 1
• NEW YORK (location) — Business address city
• 10001-2192 (zip_code) — Business address zip
• 2127332323 (phone_number) — Business phone

FAQ

Key Dates

• 2024-02-22: 10-K Filing — Annual report filed for the fiscal year ending December 31, 2023.

Key Financial Figures

• $0.05 — ange on which registered Common Stock, $0.05 par value PFE New York Stock Exchange

Filing Documents

• pfe-20231231.htm (10-K) — 5224KB
• pfe-exh426x12312023x10k.htm (EX-4.26) — 77KB
• pfe-exh1012x12312023x10k.htm (EX-10.12) — 14KB
• pfe-exh1029x12312023x10k.htm (EX-10.29) — 123KB
• pfe-exh21x12312023x10k.htm (EX-21) — 164KB
• pfe-exh22x12312023x10k.htm (EX-22) — 16KB
• pfe-exh23x12312023x10k.htm (EX-23) — 8KB
• pfe-exh311x12312023x10k.htm (EX-31.1) — 9KB
• pfe-exh312x12312023x10k.htm (EX-31.2) — 9KB
• pfe-exh321x12312023x10k.htm (EX-32.1) — 4KB
• pfe-exh322x12312023x10k.htm (EX-32.2) — 4KB
• pfe-exh97x12312023x10k.htm (EX-97) — 35KB
• pfe-20231231_g1.jpg (GRAPHIC) — 38KB
• pfe-20231231_g10.jpg (GRAPHIC) — 2KB
• pfe-20231231_g11.jpg (GRAPHIC) — 6KB
• pfe-20231231_g12.jpg (GRAPHIC) — 2KB
• pfe-20231231_g13.jpg (GRAPHIC) — 4KB
• pfe-20231231_g2.jpg (GRAPHIC) — 106KB
• pfe-20231231_g3.jpg (GRAPHIC) — 53KB
• pfe-20231231_g4.jpg (GRAPHIC) — 94KB
• pfe-20231231_g5.jpg (GRAPHIC) — 19KB
• pfe-20231231_g6.jpg (GRAPHIC) — 18KB
• pfe-20231231_g7.jpg (GRAPHIC) — 17KB
• pfe-20231231_g8.jpg (GRAPHIC) — 17KB
• pfe-20231231_g9.jpg (GRAPHIC) — 58KB
• 0000078003-24-000039.txt (&nbsp;) — 31143KB
• pfe-20231231.xsd (EX-101.SCH) — 177KB
• pfe-20231231_cal.xml (EX-101.CAL) — 224KB
• pfe-20231231_def.xml (EX-101.DEF) — 1020KB
• pfe-20231231_lab.xml (EX-101.LAB) — 1980KB
• pfe-20231231_pre.xml (EX-101.PRE) — 1429KB
• pfe-20231231_htm.xml (XML) — 6582KB

BUSINESS

ITEM 1. BUSINESS 3 About Pfizer 3 Commercial Operations 4 Research and Development 4 Collaboration and Co-Promotion Agreements 5 International Operations 6 Sales and Marketing 6 Patents and Other Intellectual Property Rights 7 Competition 10 Pricing Pressures and Managed Care Organizations 10 Raw Materials 11 Government Regulation and Price Constraints 11 Environmental Matters 14 Our People 15

RISK FACTORS

ITEM 1A. RISK FACTORS 16

UNRESOLVED STAFF COMMENTS N/A

ITEM 1B. UNRESOLVED STAFF COMMENTS N/A

CYBERSECURITY

ITEM 1C. CYBERSECURITY 26

PROPERTIES

ITEM 2. PROPERTIES 27

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 27

MINE SAFETY DISCLOSURES N/A

ITEM 4. MINE SAFETY DISCLOSURES N/A INFORMATION ABOUT OUR EXECUTIVE OFFICERS 28 PART II 29

MARKET FOR THE COMPANY'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR THE COMPANY'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 29

[RESERVED]

ITEM 6. [RESERVED] 29

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 30

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 49

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 50

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 107

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 107

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 110

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS N/A

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS N/A PART III 110

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 110

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 110

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 110

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 110

PRINCIPAL ACCOUNTING FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 110 PART IV 110

EXHIBITS, FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES 110 15(a)(1) Financial Statements 110 15(a)(2) Financial Statement Schedules 110 15(a)(3) Exhibits 111

FORM 10-K SUMMARY

ITEM 16. FORM 10-K SUMMARY 114

SIGNATURES

SIGNATURES 115 N/A = Not Applicable DEFINED TERMS Unless the context requires otherwise, references to "Pfizer," "the Company," "we," "us" or "our" in this Form 10-K (defined below) refer to Pfizer Inc. and its subsidiaries. For each year presented, Pfizer's fiscal year-end for subsidiaries operating outside the U.S. is as of and for the year ended November 30 and for U.S. subsidiaries is as of and for the year ended December 31. References to "Notes" in this Form 10-K are to the Notes to the consolidated financial statements in Item 8. Financial Statements and Supplementary Data in this Form 10-K. We also have used several other terms in this Form 10-K, most of which are explained or defined below: Form 10-K This Annual Report on Form 10-K for the fiscal year ended December 31, 2023 2022 Form 10-K Our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 Proxy Statement Proxy Statement for the 2024 Annual Meeting of Shareholders, which will be filed no later than 120 days after December 31, 2023 ABO Accumulated benefit obligation; represents the present value of the benefit obligation earned through the end of the year but does not factor in future compensation increases ACIP Advisory Committee on Immunization Practices ADC Antibody-Drug Conjugate Alexion Alexion Pharma International Operations Limited, a subsidiary of AstraZeneca PLC ALK anaplastic lymphoma kinase Alliance revenues Revenues from alliance agreements under which we co-promote products discovered or developed by other companies or us Arena Arena Pharmaceuticals, Inc. Array Array BioPharma Inc. Arvinas Arvinas, Inc. Astellas Astellas Pharma Inc., Astellas US LLC and Astellas Pharma US, Inc. ATTR-CM transthyretin amyloid cardiomyopathy Beam Beam Therapeutics Inc. Biohaven Biohaven Pharmaceutical Holding Company Limited BioNTech BioNTech SE Biopharma Global Biopharmaceuticals Business Blackstone Blackstone Life Sciences BLA Biologics License Appli

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View this 10-K filing on SEC EDGAR