Skip to main content

PFIZER INC

For the period ended Dec 31, 2023. Filed Feb 22, 2024.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 22, 2024

PFE$29.39-1.6%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Defined Termsi

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:

Proxy StatementProxy Statement for the 2024 Annual Meeting of Shareholders, which will be filed no later than 120 days after December 31, 2023
ABOAccumulated 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
ACIPAdvisory Committee on Immunization Practices
ADCAntibody-Drug Conjugate
AlexionAlexion Pharma International Operations Limited, a subsidiary of AstraZeneca PLC
ALKanaplastic lymphoma kinase
Alliance revenuesRevenues from alliance agreements under which we co-promote products discovered or developed by other companies or us
ArenaArena Pharmaceuticals, Inc.
ArrayArray BioPharma Inc.
ArvinasArvinas, Inc.
AstellasAstellas Pharma Inc., Astellas US LLC and Astellas Pharma US, Inc.
ATTR-CMtransthyretin amyloid cardiomyopathy
BeamBeam Therapeutics Inc.
BiohavenBiohaven Pharmaceutical Holding Company Limited
BioNTechBioNTech SE
BiopharmaGlobal Biopharmaceuticals Business
BlackstoneBlackstone Life Sciences
BLABiologics License Application
BMSBristol-Myers Squibb Company
BODBoard of Directors
CDCU.S. Centers for Disease Control and Prevention
cGMPcurrent Good Manufacturing Practices
CGRPcalcitonin gene-related peptide
CMSCenters for Medicare & Medicaid Services
Comirnaty*Unless otherwise noted, refers to, as applicable, and as authorized or approved, the Pfizer-BioNTech COVID-19 Vaccine, the Pfizer-BioNTech COVID-19 Vaccine, Bivalent (Original and Omicron BA.4/BA.5), Comirnaty (COVID-19 Vaccine, mRNA, 2023-2024 Formula), the Pfizer-BioNTech COVID-19 Vaccine (2023-2024 Formula), Comirnaty Original/Omicron BA.1, Comirnaty Original/Omicron BA.4/BA.5 and Comirnaty XBB.1.5.
Consumer Healthcare JVGSK Consumer Healthcare JV
COVID-19novel coronavirus disease of 2019
DEAU.S. Drug Enforcement Agency
Developed EuropeIncludes the following markets: Western Europe, Scandinavian countries and Finland
Developed MarketsIncludes the following markets: U.S., Developed Europe and Developed Rest of World
Developed Rest of WorldIncludes the following markets: Japan, Canada, South Korea, Australia and New Zealand
ECEuropean Commission
EMAEuropean Medicines Agency
Emerging MarketsIncludes, but is not limited to, the following markets: Asia (excluding Japan and South Korea), Latin America, Eastern Europe, Central Europe, the Middle East, Africa and Turkey
EPSearnings per share
ESGEnvironmental, Social and Governance
ESOPemployee stock ownership plan
EUEuropean Union
EUAemergency use authorization
Exchange ActSecurities Exchange Act of 1934, as amended
FASBFinancial Accounting Standards Board
FCPAU.S. Foreign Corrupt Practices Act
FDAU.S. Food and Drug Administration
FFDCAU.S. Federal Food, Drug and Cosmetic Act
GAAPGenerally Accepted Accounting Principles
GBTGlobal Blood Therapeutics, Inc.
GDFVgrant-date fair value
GenmabGenmab A/S
GPDGlobal Product Development organization
GSKGSK plc
HaleonHaleon plc
HHSU.S. Department of Health and Human Services
HIPAAHealth Insurance Portability and Accountability Act of 1996
HospiraHospira, Inc.
IPR&Din-process research and development
IRAInflation Reduction Act of 2022
IRCInternal Revenue Code
IRSU.S. Internal Revenue Service
ITinformation technology
JVjoint venture
KingKing Pharmaceuticals LLC (formerly King Pharmaceuticals, Inc.)
LIBORLondon Interbank Offered Rate
LOEloss of exclusivity
MCOmanaged care organization
mCRCmetastatic colorectal cancer
mCRPCmetastatic castration-resistant prostate cancer
mCSPCmetastatic castration-sensitive prostate cancer
MD&AManagement’s Discussion and Analysis of Financial Condition and Results of Operations
MDLMulti-District Litigation
MedivationMedivation LLC (formerly Medivation, Inc.)
MeridianMeridian Medical Technologies, Inc.
Moody’sMoody’s Investors Service
mRNAmessenger ribonucleic acid
MSAManufacturing Supply Agreement
MylanMylan N.V.
Mylan-Japan collaborationa pre-existing strategic collaboration between Pfizer and Mylan for generic drugs in Japan that terminated on December 21, 2020
NAVnet asset value
NDAnew drug application
NimbusNimbusTherapeutics, LLC
nmCRPCnon-metastatic castration-resistant prostate cancer
nmCSPCnon-metastatic castration-sensitive prostate cancer
NSCLCnon-small cell lung cancer
NYSENew York Stock Exchange
ODToral disintegrating tablet
OnoOno Pharmaceutical Co., Ltd.
OPKOOPKO Health, Inc.
ORDOncology Research and Development
OTCover-the-counter
Paxlovid*an oral COVID-19 treatment (nirmatrelvir tablets and ritonavir tablets)
PBMpharmacy benefit manager
PBOProjected benefit obligation; represents the present value of the benefit obligation earned through the end of the year and factors in future compensation increases
PC1Pfizer CentreOne
PGSPfizer Global Supply
PharmaciaPharmacia LLC (formerly Pharmacia Corporation)
PIEPfizer Investment Enterprises Pte. Ltd. (a wholly-owned finance subsidiary of Pfizer)
PP&EProperty, plant and equipment
PRACPharmacovigilance Risk Assessment Committee
PRDPfizer Research and Development
Prevnar familyIncludes Prevnar 20/Apexxnar (pediatric and adult) and Prevnar 13/Prevenar 13 (pediatric and adult)
PsApsoriatic arthritis
QCEquality consistency evaluation
RArheumatoid arthritis
RCCrenal cell carcinoma
R&Dresearch and development
ReViralReViral Ltd.
ROUright of use
RSVrespiratory syncytial virus
S&PStandard & Poor’s
SeagenSeagen Inc. and its subsidiaries
SECU.S. Securities and Exchange Commission
SI&Aselling, informational and administrative
SMPASumitomo Pharma America, Inc.
TakedaTakeda Pharmaceutical Company Limited
Tax Cuts and Jobs Act or TCJALegislation commonly referred to as the U.S. Tax Cuts and Jobs Act of 2017
TrilliumTrillium Therapeutics ULC (formerly Trillium Therapeutics Inc.)
TSAstransition service arrangements
UCulcerative colitis
U.K.United Kingdom
Upjohn BusinessPfizer’s former global, primarily off-patent branded and generics business, which included a portfolio of 20 globally recognized solid oral dose brands, including Lipitor, Lyrica, Norvasc, Celebrex and Viagra, as well as a U.S.-based generics platform, Greenstone, that was spun-off on November 16, 2020 and combined with Mylan to create Viatris
U.S.United States
ValnevaValneva SE
VBPvolume-based procurement
ViatrisViatris Inc.
ViiVViiV Healthcare Limited
Vyndaqel familyIncludes Vyndaqel, Vyndamax and Vynmac
WRDMWorldwide Research, Development and Medical
WTOWorld Trade Organization
WyethWyeth LLC (formerly Wyeth)

*The Pfizer-BioNTech COVID-19 Vaccine (2023-2024 Formula) and certain uses of Paxlovid have not been approved or licensed by the FDA. The Pfizer-BioNTech COVID-19 Vaccine (2023-2024 Formula) has been authorized for emergency use by the FDA under an EUA to prevent COVID-19 in individuals aged 6 months through 11 years of age. Paxlovid has been authorized for emergency use by the FDA under an EUA for the treatment of mild-to-moderate COVID-19 in pediatric patients (12 years of age and older weighing at least 40 kg) who are at high risk for progression to severe COVID-19, including hospitalization or death. The emergency uses are only authorized for the duration of the declaration that circumstances exist justifying the authorization of emergency use of the medical product during the COVID-19 pandemic under Section 564(b)(1) of the FFDCA, unless the declaration is terminated or authorization revoked sooner. Please see the EUA Fact Sheets atwww.covid19oralrx.com and www.cvdvaccine-us.com.

This Form 10-K includes discussion of certain clinical studies relating to various in-line products and/or product candidates. These studies typically are part of a larger body of clinical data relating to such products or product candidates, and the discussion herein should be considered in the context of the larger body of data. In addition, clinical trial data are subject to differing interpretations, and, even when we view data as sufficient to support the safety and/or efficacy of a product candidate or a new indication for an in-line product, regulatory authorities may not share our views and may require additional data or may deny approval altogether.

Some amounts in this Form 10-K may not add due to rounding. All percentages have been calculated using unrounded amounts. All trademarks mentioned are the property of their owners.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.