Pfizer Inc. Files 10-Q for Q2 2024

TL;DR

Pfizer's Q2 2024 10-Q is in: financials and product performance detailed.

AI Summary

Pfizer Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational segments for the second quarter and the first half of the year. Specific financial figures and product-related revenues are presented, alongside information on common stock and additional paid-in capital.

Why It Matters

This filing provides investors and analysts with Pfizer's latest financial health and operational performance, crucial for understanding the company's trajectory in the pharmaceutical sector.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• N/A — Revenue (Specific revenue figures for Q2 2024 and H1 2024 are not explicitly stated in the provided text snippet.)
• N/A — Net Income (Specific net income figures for Q2 2024 and H1 2024 are not explicitly stated in the provided text snippet.)
• N/A — Earnings Per Share (Specific EPS figures for Q2 2024 and H1 2024 are not explicitly stated in the provided text snippet.)

Key Players & Entities

• Pfizer Inc. (company) — Filer of the 10-Q report.
• 20240630 (date) — End of the reporting period for the 10-Q.
• 20240805 (date) — Date the 10-Q was filed.

FAQ

Key Financial Figures

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

Filing Documents

• pfe-20240630.htm (10-Q) — 2939KB
• pfe-exh311x6302024x10q.htm (EX-31.1) — 9KB
• pfe-exh312x6302024x10q.htm (EX-31.2) — 9KB
• pfe-exh321x6302024x10q.htm (EX-32.1) — 4KB
• pfe-exh322x6302024x10q.htm (EX-32.2) — 4KB
• 0000078003-24-000166.txt ( ) — 15184KB
• pfe-20240630.xsd (EX-101.SCH) — 92KB
• pfe-20240630_cal.xml (EX-101.CAL) — 170KB
• pfe-20240630_def.xml (EX-101.DEF) — 472KB
• pfe-20240630_lab.xml (EX-101.LAB) — 981KB
• pfe-20240630_pre.xml (EX-101.PRE) — 715KB
• pfe-20240630_htm.xml (XML) — 3172KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statements of Comprehensive Income /(Loss) 6 Condensed Consolidated Balance Sheets 7 Condensed Consolidated Statements of Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10 Item 2. Management' s Discussion and Analysis of Financial Condition and Results of Operations 39 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 60 Item 4.

Controls and Procedures

Controls and Procedures 60

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 60 Item 1A.

Risk Factors

Risk Factors 60 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60 Item 3. Defaults Upon Senior Securities N/A Item 4. Mine Safety Disclosures N/A Item 5. Other Information 60 Item 6 . Exhibits 61 Signature 61 N/A = Not Applicable 2 DEFINED TERMS Unless the context requires otherwise, references to "Pfizer," "the Company," "we," "us" or "our" in this Form 10-Q (defined below) refer to Pfizer Inc. and its subsidiaries. Pfizer's fiscal quarter-end for subsidiaries operating outside the U.S. is as of and for the three and six months ended May 26, 2024 and May 28, 2023, and for U.S. subsidiaries is as of and for the three and six months ended June 30, 2024 and July 2, 2023. References to "Notes" in this Form 10-Q are to the Notes to the Condensed or Consolidated Financial Statements in this Form 10-Q or in our 2023 Form 10-K. We also have used several other terms in this Form 10-Q, most of which are explained or defined below: 2023 Form 10-K Annual Report on Form 10-K for the fiscal year ended December 31, 2023 AbbVie AbbVie Inc. ALK anaplastic lymphoma kinase Alliance revenues Revenues from alliance agreements under which we co-promote products discovered or developed by other companies or us Astellas Astellas Pharma Inc., Astellas US LLC and Astellas Pharma US, Inc. ATTR-CM transthyretin amyloid cardiomyopathy Bain Capital Bain Capital Private Equity and Bain Capital Life Sciences Biohaven Biohaven Pharmaceutical Holding Company Limited BioNTech BioNTech SE Biopharma Global Biopharmaceuticals Business BMS Bristol-Myers Squibb Company BOD Board of Directors CDC U.S. Centers for Disease Control and Prevention Cerevel or Cerevel Therapeutics Cerevel Therapeutics Holdings, Inc. Comirnaty* Unless otherwise noted, refers to, as applicable, and as authorized or approved, the Pfizer-BioNTech COVID-19 Vaccine; Comirnaty (COVID-19 Vaccine, mRNA) original monovalent formula; the Pfizer-BioNTech COVID-19 Va

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS PFIZER INC. AND SUBSIDIARY COMPANIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended Six Months Ended (MILLIONS, EXCEPT PER SHARE DATA) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Revenues: Product revenues (a) $ 10,871 $ 10,766 $ 23,314 $ 26,988 Alliance revenues (a) 2,067 1,967 4,240 4,028 Royalty revenues (a) 345 273 608 477 Total revenues 13,283 13,007 28,162 31,492 Costs and expenses: Cost of sales (b) 3,300 3,237 6,679 8,122 Selling, informational and administrative expenses (b) 3,717 3,497 7,212 6,914 Research and development expenses (b) 2,696 2,648 5,189 5,153 Acquired in-process research and development expenses 6 33 6 55 Amortization of intangible assets 1,307 1,184 2,615 2,287 Restructuring charges and certain acquisition-related costs 1,254 214 1,356 222 Other (income)/deductions––net 1,107 ( 75 ) 1,787 200 Income/(loss) from continuing operations before provision/(benefit) for taxes on income/(loss) ( 103 ) 2,269 3,318 8,539 Provision/(benefit) for taxes on income/(loss) ( 134 ) ( 71 ) 159 644 Income from continuing operations 31 2,340 3,159 7,895 Discontinued operations––net of tax 17 ( 2 ) 12 ( 1 ) Net income before allocation to noncontrolling interests 48 2,338 3,171 7,894 Less: Net income attributable to noncontrolling interests 7 11 15 24 Net income attributable to Pfizer Inc. common shareholders $ 41 $ 2,327 $ 3,156 $ 7,870 Earnings per common share––basic : Income from continuing operations attributable to Pfizer Inc. common shareholders $ 0.01 $ 0.41 $ 0.56 $ 1.40 Discontinued operations––net of tax — — — — Net income attributable to Pfizer Inc. common shareholders $ 0.01 $ 0.41 $ 0.56 $ 1.40 Earnings per common share––diluted : Income from continuing operations attributable to Pfizer Inc. common shareholders $ 0.01 $ 0.41 $ 0.55 $ 1.38 Discontinued operations––net of tax — — — — Net income attributable to Pfizer Inc. common

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View this 10-Q filing on SEC EDGAR