Pfizer Files 10-Q for Q3 2024

TL;DR

Pfizer's Q3 2024 10-Q is in. Check financials.

AI Summary

Pfizer Inc. filed its 10-Q for the period ending September 29, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Key financial data and operational details for this period are presented, reflecting the company's performance in the pharmaceutical sector.

Why It Matters

This filing provides investors and analysts with crucial financial and operational updates for Pfizer, impacting investment decisions and market perception of the pharmaceutical giant.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing and does not inherently present new risks.

Key Players & Entities

• Pfizer Inc. (company) — Filer of the 10-Q
• 20240929 (date) — End of reporting period
• 20241104 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• pfe-20240929.htm (10-Q) — 2946KB
• pfe-exh311x9292024x10q.htm (EX-31.1) — 9KB
• pfe-exh312x9292024x10q.htm (EX-31.2) — 9KB
• pfe-exh321x9292024x10q.htm (EX-32.1) — 4KB
• pfe-exh322x9292024x10q.htm (EX-32.2) — 4KB
• 0000078003-24-000191.txt ( ) — 15381KB
• pfe-20240929.xsd (EX-101.SCH) — 92KB
• pfe-20240929_cal.xml (EX-101.CAL) — 170KB
• pfe-20240929_def.xml (EX-101.DEF) — 486KB
• pfe-20240929_lab.xml (EX-101.LAB) — 989KB
• pfe-20240929_pre.xml (EX-101.PRE) — 730KB
• pfe-20240929_htm.xml (XML) — 3195KB

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 nine months ended August 25, 2024 and August 27, 2023, and for U.S. subsidiaries is as of and for the three and nine months ended September 29, 2024 and October 1, 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: * Indicates calculation not meaningful or results are greater than 100% 2023 Form 10-K Annual Report on Form 10-K for the fiscal year ended December 31, 2023 AbbVie AbbVie Inc. 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 Astellas Astellas Pharma Inc., Astellas US LLC and Astellas Pharma US, Inc. ATTR-CM transthyretin amyloid cardiomyopathy 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 (a) Unless otherwise noted, refers to, as applicable, and as authorized or approved, the Pfizer-BioNTech C

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 Nine Months Ended (MILLIONS, EXCEPT PER SHARE DATA) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Revenues: Product revenues (a) $ 15,417 $ 11,587 $ 38,731 $ 38,575 Alliance revenues (a) 1,900 1,645 6,140 5,672 Royalty revenues (a) 384 260 992 737 Total revenues 17,702 13,491 45,864 44,984 Costs and expenses: Cost of sales (b), (c) 5,263 9,269 11,942 17,391 Selling, informational and administrative expenses (b) 3,244 3,281 10,456 10,196 Research and development expenses (b) 2,598 2,711 7,787 7,864 Acquired in-process research and development expenses 13 67 20 122 Amortization of intangible assets 1,312 1,179 3,927 3,466 Restructuring charges and certain acquisition-related costs 313 155 1,669 377 Other (income)/deductions––net 243 181 2,030 381 Income/(loss) from continuing operations before provision/(benefit) for taxes on income/(loss) 4,715 ( 3,352 ) 8,033 5,187 Provision/(benefit) for taxes on income/(loss) 234 ( 964 ) 393 ( 320 ) Income/(loss) from continuing operations 4,481 ( 2,388 ) 7,640 5,507 Discontinued operations––net of tax ( 8 ) 12 4 11 Net income/(loss) before allocation to noncontrolling interests 4,473 ( 2,376 ) 7,644 5,518 Less: Net income attributable to noncontrolling interests 8 6 23 30 Net income/(loss) attributable to Pfizer Inc. common shareholders $ 4,465 $ ( 2,382 ) $ 7,621 $ 5,488 Earnings/(loss) per common share––basic : Income/(loss) from continuing operations attributable to Pfizer Inc. common shareholders $ 0.79 $ ( 0.42 ) $ 1.35 $ 0.97 Discontinued operations––net of tax — — — — Net income/(loss) attributable to Pfizer Inc. common shareholders $ 0.79 $ ( 0.42 ) $ 1.35 $ 0.97 Earnings/(loss) per common share––diluted : Income/(loss) from continuing operations attributable to Pfizer Inc. common shareholders $ 0.79 $ ( 0.42 )

View Full Filing

View this 10-Q filing on SEC EDGAR