PFIZER INC
For the period ended Jun 29, 2025. Filed Aug 5, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 29, 2025 · Filed Aug 5, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Total Revenues by Geography
| The following presents worldwide Total revenues by geography: | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Three Months Ended | |||||||||||||
| Worldwide · U.S. · International · World-wide · U.S. · Inter-national | |||||||||||||
| (MILLIONS) · June 29,2025 · June 30,2024 · June 29,2025 · June 30,2024 · June 29,2025 · June 30,2024 · % Change | |||||||||||||
| Operating segments: | |||||||||||||
| Biopharma | $14,305 | $12,991 | $8,793 | $7,828 | $5,512 | $5,163 | 10 | 12 | 7 | ||||
| Pfizer CentreOne | 328 | 278 | 81 | 49 | 247 | 229 | 18 | 65 | 8 | ||||
| Pfizer Ignite | 20 | 15 | 20 | 15 | — | — | 38 | 38 | — | ||||
| Total revenues | $14,653 | $13,283 | $8,894 | $7,892 | $5,759 | $5,391 | 10 | 13 | 7 | ||||
| Six Months Ended | |||||||||||||
| Worldwide · U.S. · International · World-wide · U.S. · Inter-national | |||||||||||||
| (MILLIONS) | June 29,2025 | June 30,2024 | June 29,2025 | June 30,2024 | June 29,2025 | June 30,2024 | % Change | ||||||
| Operating segments: | |||||||||||||
| Biopharma | $27,746 | $27,595 | $17,078 | $17,254 | $10,668 | $10,341 | 1 | (1) | 3 | ||||
| Pfizer CentreOne | 585 | 535 | 153 | 120 | 432 | 416 | 9 | 28 | 4 | ||||
| Pfizer Ignite | 37 | 32 | 37 | 32 | — | — | 16 | 16 | — | ||||
| Total revenues | $28,367 | $28,162 | $17,268 | $17,406 | $11,100 | $10,756 | 1 | (1) | 3 | ||||
| The following provides an analysis of the worldwide change in Total revenues by geographic areas in the second quarter of 2025 compared to the second quarter of 2024: | |||
|---|---|---|---|
| (MILLIONS) | Worldwide | U.S. | International |
| Operational growth/(decline): | |||
| Worldwide growth from the Vyndaqel family, Padcev, Eliquis, Abrysvo, Lorbrena, Xtandi, the Prevnar family, Xeljanz and Nurtec ODT/Vydura, partially offset by worldwide declines from Ibrance and Adcetris | $712 | $476 | $236 |
| Worldwide growth from Comirnaty | 185 | 119 | 67 |
| Worldwide growth from Paxlovid | 178 | 260 | (82) |
| Other operational factors, net | 272 | 147 | 125 |
| Operational growth/(decline), net | 1,347 | 1,002 | 345 |
| Favorable impact of foreign exchange | 22 | — | 22 |
| Total revenues increase/(decrease) | $1,369 | $1,002 | $368 |
| The following provides an analysis of the worldwide change in Total revenues by geographic areas in the first six months of 2025 compared to the first six months of 2024: | |||
|---|---|---|---|
| (MILLIONS) | Worldwide | U.S. | International |
| Operational growth/(decline): | |||
| Worldwide growth from the Vyndaqel family, Padcev, Lorbrena, Xtandi, Abrysvo, Nurtec ODT/Vydura, Eliquis and the Prevnar family, partially offset by worldwide declines from Ibrance, Adcetris and Xeljanz | $1,084 | $654 | $430 |
| Worldwide growth from Comirnaty | 404 | 230 | 174 |
| Worldwide decline from Paxlovid | (1,358) | (1,193) | (164) |
| Other operational factors, net | 309 | 171 | 138 |
| Operational growth/(decline), net | 439 | (138) | 577 |
| Unfavorable impact of foreign exchange | (234) | — | (234) |
| Total revenues increase/(decrease) | $205 | $(138) | $344 |
See the Total Revenues––Selected Product Discussion section within MD&A for additional analysis and Note 13C.
Product Revenue Deductions––Our gross product revenues are subject to a variety of deductions, which generally are estimated and recorded in the same period that the revenues are recognized. These deductions represent estimates of the related obligations and, as such, knowledge and judgment are required when estimating the impact of these product revenue deductions on gross sales for a reporting period. Historically, adjustments to these estimates to reflect actual results or updated expectations, have not been material to our overall business and generally have been less than 1% of revenues. Product-specific rebates, however, can have a significant impact on year-over-year individual product revenue growth trends.
| The following presents information about product revenue deductions: | ||||
|---|---|---|---|---|
| Three Months Ended | Six Months Ended | |||
| (MILLIONS) | June 29,2025 | June 30,2024 | June 29,2025 | June 30,2024 |
| Medicare rebates(a) | $1,103 | $757 | $2,171 | $1,477 |
| Medicaid and related state program rebates | 390 | 516 | 787 | 1,126 |
| Performance-based contract rebates | 1,663 | 1,666 | 3,274 | 3,048 |
| Chargebacks | 3,204 | 2,911 | 6,143 | 5,662 |
| Sales allowances | 1,773 | 1,592 | 3,555 | 3,085 |
| Sales returns and cash discounts(b) | 304 | 533 | 639 | 350 |
| Total | $8,436 | $7,976 | $16,569 | $14,749 |
(a)The increase in Medicare rebates in the second quarter and the first six months of 2025 is primarily driven by the impact of higher manufacturer discounts as a result of IRA Medicare Part D Redesign. See the Overview of Our Performance, Operating Environment, Strategy and Outlook section within MD&A.
(b)The amount for the first six months of 2024 included a $771 million favorable final adjustment recorded in the first quarter of 2024 to the estimated non-cash Paxlovid revenue reversal of $3.5 billion recorded in the fourth quarter of 2023.
Product revenue deductions are primarily a function of product sales volume, mix of products sold, contractual or legislative discounts and rebates.
For information on our accruals for product revenue deductions, including the balance sheet classification of these accruals, see Note 1B.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.