Pfizer Full-Year Report 2022

QUARTERLY FINANCIAL HIGHLIGHTS (Fourth-Quarter 2022 vs. Fourth-Quarter 2021)

Fourth-quarter 2022 revenues totaled $24.3 billion, an increase of $452 million, or 2%, compared to the prior-year quarter, reflecting operational growth of $3.0 billion, or 13%, as well as an unfavorable impact of foreign exchange of $2.5 billion, or 11%. Excluding contributions from Paxlovid and Comirnaty), company revenues grew $571 million, or 5%, operationally.

Fourth-quarter 2022 operational growth was primarily driven by:

• Comirnaty in developed markets, up 67% operationally, driven primarily by the resumption of deliveries of the Omicron-adapted bivalent booster following a previously announced period of significantly lower deliveries of the original vaccine during third-quarter 2022, primarily involving the European Union (EU) and Japan;
• Paxlovid outside the U.S., which contributed $1.8 billion in revenues, driven by international launches in late 2021 and early 2022 following regulatory approvals or emergency use authorizations (EUAs);
• Prevnar family (Prevnar 13 & 20) in the U.S., up 79%, driven primarily by strong patient demand following the launch of Prevnar 20 for the eligible adult population and favorable timing of Centers for Disease Control and Prevention (CDC) purchasing of the pediatric indication, partially offset by a reduction in revenues due to a one-time CDC inventory return program for the pediatric indication, the revenue impact of which is expected to be reversed in 2023 upon replenishment;
• Revenues from recently acquired products, Nurtec ODT/Vydura and Oxbryta, which contributed $211 million and $73 million in global revenues, respectively;
• Vyndaqel family (Vyndaqel, Vyndamax, Vynmac) globally, up 31% operationally, driven by continued strong uptake of the transthyretin amyloid cardiomyopathy indication, primarily in developed Europe and the U.S., partially offset by a planned price decrease that went into effect in Japan in second-quarter 2022;
• Eliquis in the U.S., up 17%, driven primarily by continued oral anti-coagulant adoption and market share gains in non-valvular atrial fibrillation, as well as favorable changes in channel mix; and
• Prevenar 13 in emerging markets, up 22% operationally, driven primarily by strong growth in China and favorable timing of sales to GAVI, the Vaccine Alliance,