PFIZER INC

Note 4. Other (Income)/Deductions—Net

(a)The amount for the first nine months of 2026 primarily includes certain product liability and other legal expenses. The amount for the third quarter of 2025 primarily included certain product liability expenses. The amount for the first nine months of 2025 primarily included certain product liability and other legal expenses.

(b)The amount for the first nine months of 2026 represents intangible asset impairment charges associated with our Biopharma segment, composed of: (i) $3.8 billion in impairments of IPR&D assets associated with a Phase 3 study for sigvotatug vedotin for the second line treatment of metastatic non-squamous NSCLC, reflecting unfavorable clinical trial results, and (ii) $525 million for Oxbryta (voxelotor) developed technology rights, after engaging with the FDA in July 2026 to discuss their assessment of data and analyses, and it was determined there was no viable pathway to return Oxbryta to the market in the U.S. The amounts for the third quarter and first nine months of 2025 included an intangible asset impairment charge associated with our Biopharma segment of $260 million related to IPR&D associated with a Phase 3 study for inclacumab for the treatment of SCD, which reflected unfavorable clinical trial results. The amount for the first nine months of 2025 also included an intangible asset impairment charge associated with our Biopharma segment of $210 million for a Phase 2 indefinite-lived out-licensed asset that was discontinued by our out-licensing partner.

(c)See Note 2C.

(d)See Notes 1Dand 16Din our 2025 Form 10-K and Note 7A.

(e)The amounts for the third quarter and first nine months of 2026 include, among other things, dividend income of $58 million and $239 million, respectively, from our previous investment in ViiV. The amounts for the third quarter and first nine months of 2025 included, among other things, dividend income of $72 million and $184 million, respectively, from our previous investment in ViiV.

(a)The fair value amount reflects the remaining fair value for the asset that has been impaired as of the date of impairment, as this asset is not measured at fair value on a recurring basis. See Note 1Ein our 2025 Form 10-K.

(b)Reflects intangible assets written down to fair value in 2026. Fair value was determined using the income approach, specifically the multi-period excess earnings method, also known as the discounted cash flow method. We started with a forecast of all the expected net cash flows for the asset and then applied an asset-specific discount rate to arrive at a net present value amount. Some of the more significant estimates and assumptions inherent in this approach include: the amount and timing of the projected net cash flows, which includes the expected impact of competitive, legal and/or regulatory factors on the product; and assumptions about the probability of technical and regulatory success (PTRS) of ongoing clinical trials, the discount rate, which seeks to reflect the various risks inherent in the projected cash flows; and the tax rate, which seeks to incorporate the geographic diversity of the projected cash flows.

For additional information on identifiable intangible assets, see Note 9.

Note 5. Tax Matters

A. Taxes on Income from Continuing Operations

Our effective tax rate for continuing operations was 3.9% for the third quarter of 2026, compared to (6.5)% for the third quarter of 2025, and was 3.2% for the first nine months of 2026, compared to (2.9)% for the first nine months of 2025. The higher effective tax rates for the third quarter and the first nine months of 2026, compared to the third quarter and the first nine months of 2025 were primarily due to the non-recurrence of the remeasurement of certain deferred tax liabilities, agreements, and resolutions with tax authorities, partially offset by favorable changes in the jurisdictional mix of earnings.

We elected, with the filing of our 2018 U.S. Federal Consolidated Income Tax Return, to pay our initial estimated $15 billion repatriation tax liability on accumulated post-1986 foreign earnings (Transition Tax liability) over eight years through 2026. The eighth and final annual installment was paid by its April 15, 2026 due date.

See Note 5Ain our 2025 Form 10-K for information on our income taxes paid (net of refunds received).

B. Tax Contingencies

We are subject to income tax in many jurisdictions, and a certain degree of estimation is required in recording the assets and liabilities related to income taxes. All of our tax positions are subject to audit by the local taxing authorities in each tax jurisdiction. These tax audits can involve complex issues, interpretations and judgments and the resolution of matters may span multiple years, particularly if subject to negotiation or litigation.

The U.S. is one of our major tax jurisdictions, and we are regularly audited by the IRS. Tax years 2019-2022 are under audit by the IRS; tax years 2023-2026 are open but not under audit, and all other tax years are closed. We also have open audit years and certain related audits, appeals and investigations in certain major international tax jurisdictions dating back to 2016.

See Note 5Din our 2025 Form 10-K.

C. Tax Provision/(Benefit) on Other Comprehensive Income/(Loss)

(a)Taxes are not provided for foreign currency translation adjustments relating to investments in international subsidiaries that are expected to be held indefinitely.

Note 6. Accumulated Other Comprehensive Loss, Excluding Noncontrolling Interests

(a)Amounts do not include foreign currency translation adjustments attributable to noncontrolling interests.

(b)Foreign currency translation adjustments include net gains/(losses) related to the impact of our net investment hedging program.

Note 7. Financial Instruments

A. Fair Value Measurements

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis and Fair Value Hierarchy:

(a)Includes money market funds primarily invested in U.S. Treasury and government debt.

(b)Long-term equity securities of $122 million as of September 27, 2026 and $146 million as of December 31, 2025 were held in restricted trusts for U.S. non-qualified employee benefit plans.

(c)Includes life insurance policies held in restricted trusts for U.S. non-qualified employee benefit plans. The underlying invested assets in these contracts are marketable securities, which are carried at fair value, with changes in fair value recognized in Other (income)/deductions—net(see Note 4).

(d)Includes the fair value of contingent consideration associated with the acquisition of Metsera and certain prior business combinations. Fair value is estimated by using a probability-weighted discounted cash flow approach (see Notes 1D and 16D in our 2025 Form 10-K and Note 2A for additional information on contingent consideration liabilities).

(a)Reported in Other (income)/deductions––net. See Note 4. The amount in the first nine months of 2026 is primarily related to our acquisition of Metsera.

Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis––The carrying value of Long-term debt, excluding the current portion, was $60 billion as of September 27, 2026 and $62 billion as of December 31, 2025. The estimated fair value of such debt, using a market approach and Level 2 inputs, was $55 billion as of September 27, 2026 and $60 billion as of December 31, 2025.

The differences between the estimated fair values and carrying values of held-to-maturity debt securities, private equity securities, long-term receivables and short-term borrowings not measured at fair value on a recurring basis were not significant as of September 27, 2026 and December 31, 2025. The fair value measurements of our held-to-maturity debt securities and short-term borrowings are based on Level 2 inputs. The fair value measurements of our long-term receivables and private equity securities are based on Level 3 inputs.

B. Investments

Total Short-Term and Long-Term Investments

(a)Represent investments in the life sciences sector.

Debt Securities

Any expected credit losses to these portfolios would be immaterial to our financial statements.

Equity Securities

(a)Reported in Other (income)/deductions––net. See Note 4.

Included in net unrealized (gains)/losses are observable price changes on equity securities without readily determinable fair values. As of September 27, 2026, there were cumulative impairments and downward adjustments of $535 million and upward adjustments of $226 million. Impairments, downward and upward adjustments were not material to our operations in the third quarters and first nine months of 2026 and 2025.

C. Short-Term Borrowings

(a)Primarily includes cash collateral. See Note 7F.

D. Long-Term Debt

E. Derivative Financial Instruments and Hedging Activities

Foreign Exchange Risk––A significant portion of our revenues, earnings and net investments in foreign affiliates is exposed to changes in foreign exchange rates. Where foreign exchange risk is not offset by other exposures, we manage our foreign exchange risk principally through the use of derivative financial instruments and foreign currency debt. These financial instruments serve to mitigate the impact on net income as a result of remeasurement into another currency, or against the impact of translation into U.S. dollars of certain foreign exchange-denominated transactions.

The derivative financial instruments primarily hedge or offset exposures in theeuro, U.K. pound, Chinese renminbi, Canadian dollar, Japanese yen, and Swedish krona, and include a portion of our forecasted foreign exchange-denominated intercompany inventory sales hedged up totwo years. We may also seek to protect against possible declines in the net investments of our foreign business entities.

Interest Rate Risk––Our interest-bearing investments and borrowings are subject to interest rate risk. Depending on market conditions, we may change the profile of our outstanding debt or investments by entering into derivative financial instruments like interest rate swaps, either to hedge or offset the exposure to changes in the fair value of hedged items with fixed interest rates, or to convert variable rate debt or investments to fixed rates. The derivative financial instruments primarily hedge U.S. dollar fixed-rate debt.

(a)The notional amount of outstanding foreign exchange contracts hedging our intercompany forecasted inventory sales was$4.9 billion as of September 27, 2026 and $5.0 billion as of December 31, 2025.

(a)OID = Other (income)/deductions—net, included in Other (income)/deductions—net in the condensed consolidated statements of operations. COS = Cost of Sales, included in Cost of sales in the condensed consolidated statements of operations. OCI = Other comprehensive income/(loss), included in the condensed consolidated statements of comprehensive income/(loss).

(b)The amounts reclassified from OCI into COS were:

•a net gain of $14 million in the third quarter of 2026;

•a net loss of $6 million in the first nine months of 2026;

•a net loss of $23 million in the third quarter of 2025; and

•a net gain of $69 million in the first nine months of 2025.

The remaining amounts were reclassified from OCI into OID. Based on quarter-end foreign exchange rates that are subject to change, we expect to reclassify a pre-taxgain of $53 million within the next 12 months into income. The maximum length of time over which we are hedging our exposure to the variability in future foreign exchange cash flows is approximately 17 yearsand relates to foreign currency debt.

(c)The amounts reclassified from OCI were reclassified into OID.

(d)Long-term debt includes foreign currency borrowings, which are used in net investment hedges; the related carrying values as of September 27, 2026 and December 31, 2025 were$854 million and $879 million, respectively.

(a)Carrying amounts exclude the cumulative amount of fair value hedging adjustments.

F. Credit Risk

A significant portion of our trade accounts receivable balances are due from wholesalers. For additional information on our trade accounts receivables with significant customers, see Note 17Cin our 2025 Form 10-K.

As of September 27, 2026, the largest investment exposures in our portfolio consisted primarily of U.S. government money market funds, as well as sovereign debt instruments issued bythe U.S., Germany, and the U.K.

With respect to our derivative financial instrument agreements with financial institutions, we do not expect to incur a significant loss from failure of any counterparty. Derivative financial instruments are executed under International Swaps and Derivatives Association master agreements with credit-support annexes that contain zero threshold provisions requiring collateral to be exchanged daily depending on levels of exposure. As a result, there are no significant concentrations of credit risk with any individual financial institution. As of September 27, 2026, the aggregate fair value of these derivative financial instruments that are in a net payable position was $1.4 billion, for which we have posted collateral of $1.4 billion with a corresponding amount reported in Short-term investments. As of September 27, 2026, the aggregate fair value of our derivative financial instruments that are in a net receivable position was$37 million, for which we have received collateral of$70 million with a corresponding amount reported in Short-term borrowings, including current portion of long-term debt.

Note 8. Other Financial Information

A. Inventories

(a)Included in Other noncurrent assets. Based on our current estimates and assumptions, there are no recoverability issues for these amounts.

B. Supplier Finance Program Obligation

We maintain voluntary supply chain finance agreements with several participating financial institutions. Under these agreements, participating suppliers may voluntarily elect to sell their accounts receivable with Pfizer to these financial institutions. As of September 27, 2026 and December 31, 2025, respectively, $523 million and $574 million of our trade payables to suppliers who participate in these financing arrangements were outstanding.

Note 9. Identifiable Intangible Assets, Net and Goodwill

A. Identifiable Intangible Assets

(a)The gross carrying amounts as of September 27, 2026 reflect impairments recorded during the first nine months of 2026 of $3.8 billion in IPR&D assets and $525 million in developed technology rights (see Note 4). The gross carrying amounts also reflecta transfer of$580 million from IPR&D to developed technology rights for Tukysa (tucatinib).

B. Goodwill

As a result of the organizational changes to the commercial structure within our Biopharma operating segment effective in the first quarter of 2026 (see Note 13A), our goodwill is required to be reallocated amongst impacted reporting units. The reallocation of goodwill is a complex process that requires, among other things, determination of the fair value of each reporting unit under our old and new organizational structure and the portions being transferred. The reallocation will be completed in the current fiscal year. All goodwill continues to be assigned within our Biopharma reportable segment.

Note 10. Pension and Postretirement Benefit Plans

The components of net periodic benefit cost/(credit) other than the service cost component are primarily included in Other (income)/deductions––net(see Note 4).

For the nine months ended September 27, 2026, we contributed $95 million to our U.S. Pension Plans and $141 million to our International Pension Plans from our general assets, which include direct employer benefit payments.

Note 11. Earnings Per Common Share Attributable to Pfizer Inc. Common Shareholders

(a)These common stock equivalents were outstanding for the periods presented, but were not included in the computation of diluted EPS for those periods because their inclusion would have had an anti-dilutive effect.

Note 12. Contingencies and Certain Commitments

We and certain of our subsidiaries are subject to numerous contingencies arising in the ordinary course of business, including tax and legal contingencies, guarantees and indemnifications. The following outlines our legal contingencies, guarantees and indemnifications. For a discussion of our tax contingencies, see Note 5B.

A. Legal Proceedings

Our legal contingencies include, but are not limited to, the following:

•Patent litigation, which typically involves challenges to the coverage and/or validity of patents on various products, processes or dosage forms. An adverse outcome could result in loss of patent protection for a product, a significant loss of revenues from a product or impairment of the value of associated assets. In cases in which Pfizer is a defendant, an adverse outcome could result in a potential injunction against the sale of a product or a process related to the product or both.

•Product liability and other product-related litigation related to current or former products, which can include personal injury, consumer fraud, off-label promotion, securities, antitrust and breach of contract claims, among others, and often involves highly complex issues relating to medical causation, label warnings and reliance on those warnings, scientific evidence and findings, actual, provable injury and other matters.

•Commercial and other asserted or unasserted matters, which can include acquisition-, licensing-, intellectual property-, collaboration- or co-promotion-related and product-pricing claims and environmental claims and proceedings, and can involve complexities that will vary from matter to matter.

•Government investigations, which often are related to the extensive regulation of pharmaceutical companies by national, state and local government agencies in the U.S. and in other jurisdictions.

Certain of these contingencies could result in increased expenses and/or losses, including damages, royalty payments, fines and/or civil penalties, which could be substantial, and/or criminal charges.

We believe that our claims and defenses in matters in which we are a defendant are substantial, but litigation is inherently unpredictable and excessive verdicts do occur. We do not believe that any of these matters will have a material adverse effect on our financial position. However, we could incur judgments, enter into settlements or revise our expectations regarding the outcome of matters, which could have a material adverse effect on our results of operations and/or our cash flows in the period in which the amounts are accrued or paid.

We have accrued for losses that are both probable and reasonably estimable. Substantially all of our contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss can be complex. Consequently, we are unable to estimate the range of reasonably possible loss in excess of amounts accrued. Our assessments, which result from a complex series of judgments about future events and uncertainties, are based on estimates and assumptions that have been deemed reasonable by management, but that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions.

Amounts recorded for legal and environmental contingencies can result from a complex series of judgments about future events and uncertainties and can rely heavily on estimates and assumptions. For proceedings under environmental laws to which a governmental authority is a party, we have adopted a disclosure threshold of $1 million in potential or actual governmental monetary sanctions.

The principal pending matters to which we are a party are discussed below. In determining whether a pending matter is a principal matter, we consider both quantitative and qualitative factors to assess materiality, such as, among others, the amount of damages and the nature of other relief sought, if specified; our view of the merits of the claims and of the strength of our defenses; whether the action purports to be, or is, a class action and, if not certified, our view of the likelihood that a class will be certified by the court; the jurisdiction in which the proceeding is pending; whether related actions have been transferred to multidistrict litigation; any experience that we or, to our knowledge, other companies have had in similar proceedings; whether disclosure of the action would be important to a reader of our financial statements, including whether disclosure might change a reader’s judgment about our financial statements in light of all of the information that is available to the reader; the potential impact of the proceeding on our reputation; and the extent of public interest in the matter. In addition, with respect to patent matters in which we are the plaintiff, we consider, among other things, the financial significance of the product protected by the patent(s) at issue. Some of the matters discussed below include those which management believes that the likelihood of possible loss in excess of amounts accrued is remote.

A1. Legal Proceedings––Patent Litigation

We are involved in suits relating to our patents (or those of our collaboration/licensing partners to which we have licenses or co-promotion rights), including but not limited to, those discussed below. We face claims by generic drug manufacturers that patents covering our products (or those of our collaboration/licensing partners to which we have licenses or co-promotion rights and to which we may or may not be a party), processes or dosage forms are invalid and/or do not cover the product of the generic drug manufacturer. Also, counterclaims, as well as various independent actions, have been filed alleging that our assertions of, or attempts to enforce, patent rights with respect to certain products constitute unfair competition and/or violations of antitrust laws. In addition to the challenges to the U.S. patents that are discussed below, patent rights to certain of our products or those of our collaboration/licensing partners are being challenged in various other jurisdictions. Some of our collaboration or licensing partners face challenges to the validity of their patent rights in non-U.S. jurisdictions. For example, BMS is facing patent challenges relating to Eliquis in certain ex-U.S. jurisdictions. Adverse decisions in these matters could have a material adverse effect on our results of operations. We are also party to patent damages suits in various jurisdictions pursuant to which generic drug manufacturers, payors, governments or other parties are seeking damages from us for allegedly causing delay of generic entry.

We also are often involved in (or may be impacted by) other proceedings, such as inter partes review, post-grant review, re-examination or opposition proceedings, before the U.S. Patent and Trademark Office, the European Patent Office, or other foreign counterparts, as well as court proceedings relating to our intellectual property or the intellectual property rights of others, including challenges to such rights initiated by us. Also, if one of our patents or one of our exclusivity rights (or one of our collaboration/licensing partner’s patents/rights) is found to be invalid by such proceedings, generic or competitive products could be introduced into the market resulting in the erosion of sales of our existing products. For example, in April 2026, Teva GmbH brought suit against the EMA seeking to annul the EMA’s decision refusing to validate Teva’s marketing authorisation application for a generic tafamidis product, which suit is ongoing.

We are also subject to patent litigation pursuant to which one or more third parties seek damages and/or injunctive relief to compensate for alleged infringement of its patents by our commercial or other activities. If one of our marketed products (or a product of our collaboration/licensing partners to which we have licenses or co-promotion rights) is found to infringe valid patent rights of a third party, such third party may be awarded significant damages or royalty payments, or we may be prevented from further sales of that product. Such damages may be enhanced as much as three-fold if we or one of our subsidiaries is found to have willfully infringed valid patent rights of a third party.

Actions In Which We Are The Plaintiff

Vyndaqel-Vyndamax (tafamidis/tafamidis meglumine)

Beginning in 2023, several generic companies notified us that they had filed ANDAs with the FDA seeking approval to market generic versions of tafamidis capsules (61 mg) or tafamidis meglumine capsules (20 mg), challenging some or all of the patents listed in the FDA’s Orange Book for Vyndamax (tafamidis) and Vyndaqel (tafamidis meglumine). Scripps Research Institute (Scripps) owns the composition of matter patent and the method of treatment patents covering the products, and Pfizer is the exclusive licensee. Pfizer separately owns the crystalline form patent. Beginning in 2023, we and Scripps brought patent infringement actions against the generic filers in the U.S. District Court for the District of Delaware, asserting the validity and infringement of the patents in suit. In May 2026, we settled patent litigations relating to Vyndamax and Vyndaqel with all generic filers except Apotex Corp. For additional information, see A5. Legal Proceedings––Matters Resolved During the First Nine Months of 2026. The patent infringement action involving Apotex Corp. relating to Vyndamax is ongoing in the U.S. District Court for the District of Delaware.

In September 2026, Zenara Pharma Private Limited (Zenara) notified us that they had filed an ANDA with the FDA seeking approval to market a generic version of tafamidis tablets (61 mg), challenging our polymorph patent for Vyndamax. In October 2026, we brought a patent infringement action against Zenara in the U.S. District Court for the District of Delaware, asserting the validity and infringement of the polymorph patent.

Oxbryta (voxelotor)

In 2024, Zydus Pharmaceuticals (USA) Inc., Zydus Lifesciences Limited, and Zydus Worldwide DMCC (collectively, Zydus) and MSN Pharmaceuticals Inc. and MSN Laboratories Private Ltd. (collectively, MSN) separately notified us that they had filed ANDAs with the FDA seeking approval to market generic versions of voxelotor tablets, challenging some of the patents listed in the FDA’s Orange Book for Oxbryta (voxelotor tablets in 300 mg and 500 mg strengths and/or for oral suspension) on non-infringement grounds. In 2024, we filed patent infringement actions against both generic filers in the U.S. District Court for the District of Delaware, asserting the validity and infringement of the challenged patents. Zydus and MSN have not challenged our composition of matter patents or method of treatment patents for Oxbryta. On July 31, 2026, Pfizer notified the FDA that it is voluntarily withdrawing the NDAs for Oxbryta. In September 2026, the cases were dismissed.

Nurtec (rimegepant)

Beginning in 2024, several generic manufacturers notified us that they had filed ANDAs with the FDA seeking approval to market generic versions of rimegepant orally disintegrating tablets, claiming noninfringement and/or challenging the validity of some or all of the patents listed in the FDA’s Orange Book for Nurtec (rimegepant orally disintegrating tablets Eq 75 mg base). In May 2024, we filed patent infringement actions against all of the generic filers in the U.S. District Court for the District of Delaware.

Xtandi (enzalutamide)

Beginning in 2024, several generic companies notified us and Astellas that they had filed ANDAs with the FDA seeking approval to market generic versions of Xtandi, challenging some or all of the patents listed in the FDA’s Orange Book for Xtandi. Beginning in 2024, we and Astellas brought patent infringement actions against the generic filers in the U.S. District Court for the District of New Jersey, asserting the validity and infringement of the patents in suit.

Cibinqo (abrocitinib)

In March 2026, Micro Labs Limited and Micro Labs USA, Inc. (collectively, Micro Labs), Changzhou Pharmaceutical Factory (Changzhou), and Biocon Limited, Biocon Pharma Limited and Biocon Pharma, Inc. (collectively, Biocon) notified us that they filed ANDAs with the FDA seeking approval to market generic versions of abrocitinib and challenging allthree patents listed in the Orange Book. In April 2026, we filed patent infringement actions against Micro Labs, Changzhou and Biocon in the U.S. District Court for the District of Delaware asserting the infringement and validity of the challenged patents.

Lorbrena (lorlatinib)

In August 2026, Sun Pharmaceutical Industries Limited (Sun) notified us that they filed an ANDA with the FDA seeking approval to market generic versions of lorlatinib, challenging allfour patents listed in the Orange Book for Lorbrena. In October 2026, we filed a patent infringement action against Sun in the U.S. District Court for the District of Delaware asserting the infringement and validity of the challenged patents.

Actions in Which We are the Defendant

Comirnaty (tozinameran)

In 2022, ModernaTX, Inc. (ModernaTX) and Moderna US, Inc. (Moderna) sued several Pfizer and BioNTech entities in the U.S. District Court for the District of Massachusetts, alleging that Comirnaty infringes three U.S. patents and seeking monetary damages. ModernaTX is seeking damages for alleged infringement occurring after March 7, 2022. In 2024, the case was stayed pending the outcome of separate inter partes review actions brought at the U.S. Patent Office (USPTO) seeking to invalidatetwo of the asserted Moderna patents. In March 2025, the USPTO found thetwo Moderna patents invalid, and Moderna appealed.

In 2022, ModernaTX filed a patent infringement action in Germany against several Pfizer and BioNTech entities, alleging that Comirnaty infringestwo European patents. In March 2025, the German Court found the asserted patents infringed; no decision on invalidity was rendered. In 2022, ModernaTX filed patent infringement actions in the U.K. and the Netherlands against several Pfizer and BioNTech entities, on the sametwo European patents. ModernaTX is seeking damages for alleged infringement occurring after March 7, 2022. In 2024, the U.K. Court revokedone of thetwo patents, while upholding the other as valid and infringed. Separately, the European Patent Office (EPO) revoked the same patent and upheld the same patent as the U.K. Court. ModernaTX has also filed additional patent infringement actions against Pfizer and BioNTech in certain other European jurisdictions. In September 2026, the EPO Board of Appeal revoked the other patent, with no further appeals available.

In October 2026, Moderna filed a patent infringement action in the Unified Patent Court (UPC) against certain Pfizer and BioNTech entities, alleging infringement of a European patent and seeking unspecified damages.

In October 2026, Wearne Digital filed a patent infringement action in the U.S. District Court for the Southern District of New York against Pfizer, alleging infringement of a patent relating to supply-chain infrastructure.

In 2023, Arbutus Biopharma Corporation (Arbutus) and Genevant Sciences GmbH (Genevant) filed a complaint in the U.S. District Court for the District of New Jersey against Pfizer and BioNTech entities alleging that Comirnaty and its manufacture infringe five U.S. patents, and seeking unspecified monetary damages. Additional patent infringement actions between Genevant/Arbutus and Pfizer/BioNTech are ongoing in certain other ex-U.S. jurisdictions.

In 2024, GlaxoSmithKline Biologicals SA and GlaxoSmithKline LLC (collectively, GSK Group) sued several Pfizer and BioNTech entities in the U.S. District Court for the District of Delaware, alleging that Comirnaty infringes five U.S. patents and seeking unspecified monetary damages. In August 2024, GSK Group added three additional U.S. patents to the case. In July 2025, GSK Group sued several Pfizer and BioNTech entities in both Ireland and the UPC, alleging that Comirnaty infringes three European patents. In September 2025, Pfizer and BioNTech filed a revocation action in the U.K. with respect to thethree patents asserted in the Irish and UPC cases.

In January 2025, Promosome LLC filed a complaint in the UPC, Local Division Munich, against several Pfizer and BioNTech entities, alleging that Comirnaty infringes a European patent that is in force only in France, Germany and Sweden, and seeking unspecified monetary damages in connection with the manufacture and sale of Comirnaty in France, Germany and Sweden. In July 2026, the Court issued a decision finding the Promosome LLC patent not infringed and invalid. Promosome LLC appealed the decision.

In January 2026, Bayer Cropscience LLC, Monsanto Company and Monsanto Technology, LLC filed a complaint in the U.S. District Court for the District of Delaware against Pfizer and BioNTech, BioNTech Manufacturing GmbH and BioNTech US Inc, alleging that Comirnaty infringesone U.S. patent and seeking unspecified monetary damages.

In July 2026, Translate Bio, Inc., Translate Bio MA, Inc., Sanofi Vaccines US Inc., and VaxServe, Inc. (collectively, Sanofi) filed a complaint in the U.S. District Court for the District of New Jersey against Pfizer and Pharmacia & Upjohn Co. LLC, alleging that Comirnaty infringes eight U.S. patents and seeking unspecified monetary damages.

Paxlovid

In 2022, Enanta Pharmaceuticals, Inc. (Enanta) filed a complaint in the U.S. District Court for the District of Massachusetts against Pfizer alleging that the active ingredient in Paxlovid, nirmatrelvir, infringes a U.S. patent issued in 2022, and seeking unspecified monetary damages. In 2024, the District Court issued an order granting Pfizer’s motion for summary judgment, finding Enanta’s patent invalid. In June 2026, the U.S. Court of Appeals for the Federal Circuit affirmed the District Court’s decision, and in September 2026 the same court denied Enanta’s request for rehearing en banc.

In August 2025, Enanta filed a patent infringement complaint in the Unified Patent Court, Local Division Munich, against Pfizer alleging that the active ingredient in Paxlovid, nirmatrelvir, infringes a European patent issued in August 2025, and seeking unspecified monetary damages. In October 2026, Enanta’s European patent was found invalid by the Court and the infringement claim was dismissed.

Matters Involving Pfizer and its Collaboration/Licensing Partners

Orgovyx (relugolix)

Beginning in January 2025, several generic companies notified us that they had filed ANDAs with the FDA seeking approval to sell a generic form of relugolix (Orgovyx), and challenging one or more patents listed in the FDA’s Orange Book for Orgovyx which are licensed to Pfizer. In March 2025, we, along with Sumitomo Pharma Switzerland GBBH, Sumitomo Pharma America, Inc., Takeda and Takeda Pharmaceuticals International AG jointly filed separate patent infringement actions in the U.S. District Court for the District of Delaware against the generic companies, asserting the infringement and validity of the patents in suit.

Eliquis (apixaban)

In December 2025, BMS and Pfizer filed a patent infringement action in the U.S. District Court for the District of Delaware against Azurity Pharmaceuticals, Inc. (Azurity), alleging that Azurity’s proposed generic apixaban product would infringe a formulation patent expiring in 2031. In October 2026, we settled the patent litigation against Azurity on terms not material to Pfizer.

In October 2026, BMS and Pfizer filed a patent infringement action in the U.S. District Court for the District of Delaware against TAHO Pharmaceuticals Limited (TAHO), alleging that TAHO’s proposed apixaban oral film product would infringe our formulation patent expiring in 2031.

A2. Legal Proceedings––Product Litigation

We are defendants in numerous cases, including but not limited to those discussed below, related to our pharmaceutical and other products. Plaintiffs in these cases seek damages and other relief on various grounds for alleged personal injury and economic loss.

Asbestos

Numerous lawsuits against Pfizer and certain of its previously owned subsidiaries are pending in various federal and state courts seeking damages for alleged personal injury from exposure to products allegedly containing asbestos and other allegedly hazardous materials sold by Pfizer and certain of its previously owned subsidiaries.

In addition, between 1967 and 1982, Warner-Lambert owned American Optical Corporation (American Optical), which manufactured and sold respiratory protective devices and asbestos safety clothing. In connection with the sale of American Optical in 1982, Warner-Lambert agreed to indemnify the purchaser for certain liabilities, including certain asbestos-related and other claims. Warner-Lambert was acquired by Pfizer in 2000 and is a wholly owned subsidiary of Pfizer. Warner-Lambert is actively engaged in the defense of, and will continue to explore various means of resolving, these claims.

There also are a small number of lawsuits pending in various federal and state courts seeking damages for alleged exposure to asbestos in facilities owned or formerly owned by Pfizer or its subsidiaries.

Zantac

A number of lawsuits have been filed against Pfizer in various federal and state courts alleging that plaintiffs developed various types of cancer, or face an increased risk of developing cancer, purportedly as a result of the ingestion of Zantac. The significant majority of these cases also name other defendants that have historically manufactured and/or sold Zantac. Pfizer has not sold Zantac since 2006, and only sold an OTC version of the product. In 2006, Pfizer sold the consumer business that included its Zantac OTC rights to Johnson & Johnson and transferred the assets and liabilities related to Zantac OTC to Johnson & Johnson in connection with the sale. Plaintiffs in these cases seek compensatory and punitive damages.

In February 2020, the federal actions were transferred for coordinated pre-trial proceedings to an MDL in the U.S. District Court for the Southern District of Florida (the Federal MDL Court). Plaintiffs in the MDL filed against Pfizer and many other defendants a master personal injury complaint, a consolidated consumer class action complaint alleging, among other things, claims under consumer protection statutes of all 50 states, and a medical monitoring complaint seeking to certify medical monitoring classes under the laws of 13 states. In December 2022, the Federal MDL Court granted defendants’ Daubert motions to exclude plaintiffs’ expert testimony and motion for summary judgment on general causation, which has resulted in the dismissal of all complaints in the litigation. Plaintiffs have appealed the Federal MDL Court’s rulings.

In addition, Pfizer has received service of Canadian class action complaints naming Pfizer and other defendants, onlyone of which remains pending, and seeking compensatory and punitive damages for personal injury and economic loss, allegedly arising from the defendants’ sale of Zantac in Canada.

In April 2021, a Judicial Council Coordinated Proceeding was created in the Superior Court of California in Alameda County to coordinate personal injury actions against Pfizer and other defendants filed in California state court. Coordinated proceedings have also been created in other state courts. The large majority of the state court cases have been filed in the Superior Court of Delaware in New Castle County.

Many of these Zantac-related cases have been outstanding for a number of years. From time to time, Pfizer has explored and will continue to explore opportunistic settlements of these matters. As of November 2026, Pfizer had settled, or entered into definitive agreements or agreements-in-principle to settle, subject to certain conditions, a substantial majority of the cases filed in state courts in which the plaintiff alleges use of a Pfizer product. The remaining unresolved state court cases continue in various state courts.

Chantix

Beginning in August 2021, a number of putative class actions have been filed against Pfizer in various U.S. federal courts following Pfizer’s voluntary recall of Chantix due to the presence of a nitrosamine, N-nitroso-varenicline. Plaintiffs assert that they suffered economic harm purportedly as a result of purchasing Chantix or generic varenicline medicines sold by Pfizer. Plaintiffs seek to represent nationwide and state-specific classes and seek various remedies, including damages and medical monitoring. In December 2022, the federal actions were transferred for coordinated pre-trial proceedings to an MDL in the U.S. District Court for the Southern District of New York. In March 2026, the parties reached an agreement in principle to resolve the litigation on terms not material to Pfizer. In October 2026, the U.S. District Court for the Southern District of New York granted final approval of the settlement.

Depo-Provera

A number of lawsuits have been filed against Pfizer and certain subsidiaries in various federal and state courts alleging that plaintiffs who used the injectable version of Depo-Provera (active ingredient medroxyprogesterone acetate, or MPA) for contraception developed meningioma. Some cases also name other defendants, including the manufacturers of generic versions of injectable MPA for contraception. Plaintiffs assert claims against Pfizer relating to both Depo-Provera and generic MPA products, and seek compensatory and punitive damages. In February 2025, the federal cases were transferred for coordinated pre-trial proceedings to an MDL in the U.S. District Court for the Northern District of Florida. In July 2026, we reached an agreement with plaintiff leadership in the Depo-Provera MDL that we expect to resolve a substantial majority of the pending MDL cases on terms that are not material to the Company’s liquidity or financial condition. Also, in 2025, coordinated proceedings were established in several U.S. state jurisdictions, including California, Connecticut, Delaware, and New York.

A3. Legal Proceedings––Commercial and Other Matters

Monsanto-Related Matters

In 1997, Monsanto Company (Former Monsanto) contributed certain chemical manufacturing operations and facilities to a newly formed corporation, Solutia Inc. (Solutia), and spun off the shares of Solutia. In 2000, Former Monsanto merged with Pharmacia & Upjohn Company to form Pharmacia. Pharmacia then transferred its agricultural operations to a newly created subsidiary, named Monsanto Company (New Monsanto), which it spun off in a two-stage process that was completed in 2002. Pharmacia was acquired by Pfizer in 2003 and is a wholly owned subsidiary of Pfizer.

In connection with its spin-off that was completed in 2002, New Monsanto assumed, and agreed to indemnify Pharmacia for, any liabilities related to Pharmacia’s former agricultural business. New Monsanto has defended and/or is defending Pharmacia in connection with various claims and litigation arising out of, or related to, the agricultural business, and has been indemnifying Pharmacia when liability has been imposed or settlement has been reached regarding such claims and litigation.

In connection with its spin-off in 1997, Solutia assumed, and agreed to indemnify Pharmacia for, liabilities related to Former Monsanto’s chemical businesses. As the result of its reorganization under Chapter 11 of the U.S. Bankruptcy Code, Solutia’s indemnification obligations relating to Former Monsanto’s chemical businesses are primarily limited to sites that Solutia has owned or operated. In addition, in connection with its spin-off that was completed in 2002, New Monsanto assumed, and agreed to indemnify Pharmacia for, any liabilities primarily related to Former Monsanto’s chemical businesses, including, but not limited to, any such liabilities that Solutia assumed. Solutia’s and New Monsanto’s assumption of, and agreement to indemnify Pharmacia for, these liabilities apply to pending actions and any future actions related to Former Monsanto’s chemical businesses in which Pharmacia is named as a defendant, including, without limitation, actions asserting environmental claims, including alleged exposure to polychlorinated biphenyls. Solutia and/or New Monsanto are defending Pharmacia in connection with various claims and litigation arising out of, or related to, Former Monsanto’s chemical businesses, and have been indemnifying Pharmacia when liability has been imposed or settlement has been reached regarding such claims and litigation. In 2018, Bayer AG acquired Monsanto Company (New Monsanto), which is now a subsidiary of Bayer AG. Since the acquisition, New Monsanto has continued to defend and indemnify Pharmacia for these liabilities.

Environmental Matters

In 2009, as part of our acquisition of Wyeth, we assumed responsibility for environmental remediation at the Wyeth Holdings LLC (formerly known as Wyeth Holdings Corporation and American Cyanamid Company) discontinued industrial chemical facility in Bound Brook, New Jersey. Since that time, we have executed or have become a party to a number of administrative settlement agreements, orders on consent, and/or judicial consent decrees, with the U.S. Environmental Protection Agency, the New Jersey Department of Environmental Protection and/or federal and state natural resource trustees to perform remedial design, removal and remedial actions, and related environmental remediation activities, and to resolve alleged damages to natural resources, at the Bound Brook facility. We have accrued for the currently estimated costs of these activities.

We are also party to a number of other proceedings brought under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, and other state, local or foreign laws in which the primary relief sought is the cost of past and/or future remediation.

Contracts with Iraqi Ministry of Health

In 2017, a number of U.S. service members, civilians, and their families brought a complaint in the U.S. District Court for the District of Columbia against a number of pharmaceutical and medical devices companies, including Pfizer and certain of its subsidiaries, alleging that the defendants violated the U.S. Anti-Terrorism Act. The complaint alleges that the defendants provided funding for terrorist organizations through their sales practices pursuant to pharmaceutical and medical device contracts with the Iraqi Ministry of Health and seeks monetary relief. In July 2020, the District Court granted defendants’ motions to dismiss and dismissed all of plaintiffs’ claims. In January 2022, the Court of Appeals reversed the District Court’s decision. In June 2024, the U.S. Supreme Court issued an order granting certiorari, vacating the Court of Appeals’ decision, and remanding the case to the Court of Appeals. In January 2026, the Court of Appeals reversed the District Court’s decision and, in February 2026, the defendants filed a petition seeking reconsideration by the Court of Appeals, which was denied.

Allergan Complaint for Indemnity

In 2019, Pfizer was named as a defendant in a complaint, along with King, filed by Allergan Finance LLC (Allergan) in the Supreme Court of the State of New York, asserting claims for indemnity related to Kadian, which was owned for a short period by King in 2008, prior to Pfizer’s acquisition of King in 2010. This suit was voluntarily discontinued without prejudice in January 2021. In August 2026, Allergan filed a lawsuit against Pfizer and King in the Supreme Court of the State of New York, again asserting claims for indemnity related to Kadian.

Breach of Contract – Comirnaty

In 2023, Pfizer and BioNTech Manufacturing GmbH initiated separate formal proceedings against the Republic of Poland, the Republic of Romania and Hungary in Belgium’s Court of First Instance of Brussels, seeking to hold those countries to their commitments for COVID-19 vaccine orders, which were placed as part of their contracts signed in 2021. In April 2026, the Court of First Instance of Brussels issued a judgment in favor of Pfizer and BioNTech against the Republic of Poland and the Republic of Romania. The Republic of Poland and the Republic of Romania have appealed. The proceedings against Hungary are continuing separately.

A4. Legal Proceedings––Government Investigations

Like other multi-national pharmaceutical companies, we are subject to extensive regulation by government agencies in the U.S., other developed markets and multiple emerging markets in which we operate. Criminal charges, substantial fines and/or civil penalties, limitations on our ability to conduct business in applicable jurisdictions, corporate integrity or deferred prosecution agreements, as well as reputational harm and increased public interest in the matter could result from government investigations in the U.S. and other jurisdictions in which we do business. These matters often involve government requests for information on a voluntary basis or through subpoenas after which the government may seek additional information through follow-up requests or additional subpoenas. In addition, in aqui tam lawsuit in which the government declines to intervene, the relator may still pursue a suit for the recovery of civil damages and penalties on behalf of the government. Among the investigations by government agencies are the matters discussed below.

Greenstone Antitrust Litigation

In 2019 and 2020, Attorneys General of more than 50 states and territories filedtwo complaints in the U.S. District Court for the District of Connecticut against a number of pharmaceutical companies, including Pfizer and Greenstone—a former Pfizer subsidiary that sold generic drugs. As to Greenstone and Pfizer, the complaints allege anticompetitive conduct in violation of federal and state antitrust laws and state consumer protection laws. The State Attorney General complaints were initially transferred to an MDL in the U.S. District Court for the Eastern District of Pennsylvania for coordinated pre-trial proceedings but were transferred back to the District of Connecticut in April 2024. The Greenstone antitrust litigation also includes civil complaints filed in federal and state court by private and governmental plaintiffs against Pfizer, Greenstone, and a number of other defendants. These related civil lawsuits assert allegations that generally overlap with those asserted by the State Attorneys General. All of the related federal lawsuits are part of the MDL pending in Pennsylvania.

U.S. Department of Justice Inquiries relating to India Operations

In March 2020, we received an informal request from the U.S. Department of Justice’s Consumer Protection Branch seeking documents relating to our manufacturing operations in India, including at our former facility located at Irrungattukottai in India. In April 2020, we received a similar request from the U.S. Attorney’s Office for the SDNY regarding a civil investigation concerning operations at our facilities in India. We are producing records pursuant to these requests.

A5. Legal Proceedings––Matters Resolved During the First Nine Months of 2026

During the first nine months of 2026, certain matters, including the matter discussed below, were resolved or became the subject of definitive settlement agreements or settlement agreements-in-principle.

Vyndaqel-Vyndamax (tafamidis/tafamidis meglumine)

Beginning in June 2023, several generic companies notified us that they had filed ANDAs with the FDA seeking approval to market generic versions of tafamidis capsules (61 mg) or tafamidis meglumine capsules (20 mg), challenging some or all of the patents listed in the FDA’s Orange Book for Vyndamax (tafamidis) and Vyndaqel (tafamidis meglumine). Scripps Research Institute (Scripps) owns the composition of matter patent and the method of treatment patents covering the products, and Pfizer is the exclusive licensee. Pfizer separately owns the crystalline form patent. Beginning in August 2023, we and Scripps brought patent infringement actions against the generic filers in the U.S. District Court for the District of Delaware, asserting the validity and infringement of the patents in suit. Pfizer was the sole plaintiff in actions that assert only the infringement and validity of the crystalline form patent. In March 2026, we settled the case involving Vyndaqel on terms not material to the Company. In April 2026, we settled three cases involving Vyndamax. Under the terms of the settlements, the generic companies will be permitted to launch generic versions of Vyndamax capsules on June 1, 2031, subject to the outcome of other litigation relating to Vyndamax.

B. Guarantees and Indemnifications

In the ordinary course of business and in connection with the sale of assets and businesses and other transactions, we often indemnify our counterparties against certain liabilities that may arise in connection with the transaction or that are related to events and activities prior to or following a transaction. If the indemnified party were to make a successful claim pursuant to the terms of the indemnification, we may be required to reimburse the loss. These indemnifications are generally subject to various restrictions and limitations. Historically, we have not paid significant amounts under these provisions and, as of September 27, 2026, the estimated fair value of these indemnification obligations is not material to Pfizer.

In addition, in connection with our entry into certain agreements and other transactions, our counterparties may be obligated to indemnify us. For example, our global agreement with BioNTech to co-develop a mRNA-based coronavirus vaccine program aimed at preventing COVID-19 infection includes certain indemnity provisions pursuant to which each of BioNTech and Pfizer has agreed to indemnify the other for certain liabilities that may arise in connection with certain third-party claims relating to Comirnaty.

See Note 7Din our 2025 Form 10-K for information on Pfizer Inc.’s guarantee of the debt issued by Pfizer Netherlands International Finance B.V. (a wholly-owned finance subsidiary of Pfizer) in May 2025 and the debt issued by Pfizer Investment Enterprises Pte. Ltd. (a wholly-owned finance subsidiary of Pfizer) in May 2023. We have also guaranteed the long-term debt of certain subsidiaries of Pfizer and certain companies that we acquired and that now are subsidiaries of Pfizer.

C. Contingent Consideration for Acquisitions

We may be required to make contingent consideration payments to sellers for certain prior Pfizer business combinations that are contingent on future events or outcomes. We also have assumed certain contingent consideration liabilities that were previously promised to sellers by a company subsequently acquired by Pfizer. See Notes 1Dand 16Din our 2025 Form 10-K and Notes 2A and 7A.

Note 13. Segment, Geographic and Other Revenue Information

A. Segment Information

Beginning in the first quarter of 2026, we manage our commercial operations throughtwo operating segments, each led by a single manager: Biopharma and PC1. This structure reflects our current operating model following the wind-down in 2025 of the Pfizer Ignite operating segment. Biopharma is engaged in the discovery, development, manufacture, marketing, sale and distribution of biopharmaceutical products worldwide. PC1 is our contract development and manufacturing organization and a leading supplier of specialty active pharmaceutical ingredients. Biopharma is the only reportable segment. We regularly review our operating segments and the approach used by management to evaluate performance and allocate resources.

Within our Biopharma reportable segment, our commercial divisions market, sell and distribute our products, and global operating functions are responsible for the research, development, manufacturing and supply of our products. Each operating segment is supported by our global corporate enabling functions and other corporate functions. At the beginning of 2026, we made changes in our commercial organization, which included the transition of certain off-patent branded and generic sterile injectables and biosimilars primarily from the Specialty Care and Oncology product portfolios to a new Global Hospital and Biosimilars Division within our Biopharma reportable segment to support our continued focus on commercial execution. Effective January 1, 2026, the commercial structure within our Biopharma reportable segment is as follows:

•Pfizer U.S. Commercial Division includes the U.S. commercial organization covering Pfizer’s entire product portfolio except for the Global Hospital and Biosimilars organization, as well as the U.S. Market Access and Pfizer Patient Services, Global Chief Marketing Office and Primary Care and Specialty Care U.S. Medical Affairs organizations.

•Pfizer International Commercial Division includes the ex-U.S. commercial and medical affairs organizations covering Pfizer’s entire product portfolio in all international markets except for the Global Hospital and Biosimilars organization in certain international markets.

•Global Hospital and Biosimilars Division includes the commercial organization covering Pfizer’s Hospital and Biosimilars product portfolio of off-patent branded and generic sterile injectables and biosimilars except in China, Hong Kong, and certain other international markets, which are part of the Pfizer International Commercial Division.

Other Business Activities and Reconciling Items––Other business activities include the operating results of PC1, as well as certain pre-tax costs not allocated to our operating segment results, such as costs associated with corporate enabling functions and other corporate costs. Reconciling items include the following items, transactions and events that are not allocated to our operating segments: (i) all amortization of intangible assets; (ii) acquisition-related items; and (iii) certain significant items, representing substantive and/or unusual, and in some cases recurring, items that are evaluated on an individual basis by management and that, either as a result of their nature or size, would not be expected to occur as part of our normal business on a regular basis.

Segment Assets––We manage our assets on a total company basis, not by operating segment, as our operating assets are shared or commingled. Therefore, our CODM does not regularly review any asset information by operating segment and, accordingly, we do not report asset information by operating segment. Total assets were $205 billion as of September 27, 2026 and $208 billion as of December 31, 2025.

Selected Statement of Operations Information

(a)Income from continuing operations before provision/(benefit) for taxes on income.

(b)Certain production facilities are shared. Depreciation is allocated based on estimates of physical production.

(c)Biopharma’s earnings include dividend income from our previous investment in ViiV of $58 million in the third quarter of 2026 and $72 million in the third quarter of 2025, and $239 million in the first nine months of 2026 and $184 million in the first nine months of 2025 recorded in Other (income)/deductions––net. Biopharma’s earnings in the third quarter and the first nine months of 2025 also reflected credits to Cost of Sales representing favorable revisions of our estimate of accrued royalties.

(d)Other business activities include revenues and costs associated with PC1 and our former operating segment, Pfizer Ignite, as well as costs that we do not allocate to our operating segments, per above. Earnings in the third quarter and the first nine months of 2026 reflect a charge of $650 million recorded in Acquired in-process research and development expenses related to an in-licensing and collaboration agreement with Innovent (see Note 2E). Earnings in the third quarter and the first nine months of 2025 reflected a charge of $1.35 billion recorded in Acquired in-process research and development expenses related to an in-licensing agreement with 3SBio.

(e)Earnings in the third quarter and the first nine months of 2026 include, among other things, restructuring charges/(credits), inventory write-offs, implementation costs and additional depreciation—asset restructuring of $893 million and $1.6 billion for the third quarter and the first nine months of 2026, respectively (primarily recorded in Restructuring charges and certain acquisition-related costs). Earnings in the first nine months of 2026 also include, among other things, (i) certain asset impairments of $4.3 billion and (ii) charges for certain legal matters of $1.0 billion, partially offset by (iii) a net gain of $1.870 billion from the sale of our previous investment in ViiV (all recorded in Other (income)/deductions––net). Earnings in the first nine months of 2025 included, among other items, (i) restructuring charges/(credits), inventory write-offs, implementation costs and additional depreciation—asset restructuring of $1.0 billion (primarily recorded in Restructuring charges and certain acquisition-related costs), (ii) charges for certain legal matters of $755 million and (iii) certain asset impairments of $577 million (items (ii) and (iii) recorded in Other (income)/deductions––net). See Notes 3 and 4.

B. Geographic Information

C. Other Revenue Information

Significant Revenues by Product

The following provides additional revenue information for several of our major products:

(a)In the first quarter of 2026, we made changes in our commercial structure, which included the transition of certain off-patent branded and generic sterile injectables and biosimilars primarily from the Specialty Care and Oncology product portfolios to a new Hospital and Biosimilars product portfolio within our Biopharma reportable segment. See Note 13A above. We reclassified prior period amounts to conform to the current period presentation.

(b)Reflects alliance revenues and product revenues.

(c)Primarily reflects alliance revenues and royalty revenues.

(d)Erbitux® is a registered trademark of ImClone LLC.

(e)Reflects product revenues and royalty revenues.

(f)Reflects alliance revenues.

(g)Biosimilars are highly similar versions of approved and authorized biological medicines. Oncology biosimilars primarily include Retacrit, Ruxience, Zirabev, Trazimera and Nivestym.

(h)PC1 includes revenues from our contract manufacturing and our active pharmaceutical ingredient sales operation, as well as revenues related to our manufacturing and supply agreements with legacy Pfizer businesses/partnerships. Also includes revenues associated with the wind-down of our former Pfizer Ignite operating segment, which were not material in all periods presented. We reclassified prior period amounts to conform to the current period presentation.

(i)See Note 13A above.

Remaining Performance Obligations––Contracted revenue expected to be recognized from remaining performance obligations for firm orders in long-term contracts to supply Comirnaty and Paxlovid to our customers totaled approximately $1.7 billion and $943 million, respectively, as of September 27, 2026, which includes amounts received in advance and deferred, as well as amounts that will be invoiced as we deliver these products to our customers in future periods. Of these amounts, current contract terms provide for expected delivery of product with contracted revenue primarily through 2028, the timing of which may be renegotiated. Remaining performance obligations are based on foreign exchange rates as of the end of our fiscal third quarter of 2026 and exclude arrangements with an original expected contract duration of less than one year. Remaining performance obligations associated with contracts for other products and services were not significant as of September 27, 2026 or December 31, 2025.

Deferred Revenues––Our deferred revenues primarily relate to advance payments received or receivable from various government or government sponsored customers for supply of Paxlovid and Comirnaty. The deferred revenues related to Paxlovid and Comirnaty totaled $1.3 billion as of September 27, 2026, with $441 million and $888 million recorded in current liabilities and noncurrent liabilities, respectively. The deferred revenues related to Paxlovid and Comirnaty totaled $1.5 billion as of December 31, 2025, with $689 million and $826 million recorded in current liabilities and noncurrent liabilities, respectively. The decrease in Paxlovid and Comirnaty deferred revenues during the first nine months of 2026 was primarily driven by amounts recognized in Product revenues as we delivered the products to our customers. During the third quarter and the first nine months of 2026, we recognized revenue of approximately $46 million and $180 million, respectively, that was included in the balance of Comirnaty and Paxlovid deferred revenues as of December 31, 2025. The Paxlovid and Comirnaty deferred revenues as of September 27, 2026 will be recognized in Product revenues proportionately as we transfer control of the products to our customers and satisfy our performance obligations under the contracts, with the amounts included in current liabilities expected to be recognized in Product revenues within the next 12 months, and the amounts included in noncurrent liabilities expected to be recognized in Product revenues primarily from fourth quarter 2027 through 2028. Deferred revenues associated with contracts for other products were not significant as of September 27, 2026 or December 31, 2025.