Pfizer Half-Year Report 2024
Dr. Albert Bourla, Chairman and Chief Executive Officer, stated: “We are driving progress toward our 2024 strategic priorities through solid execution across the company. I am pleased with the strong performance of our product portfolio in the second quarter led by several of our acquired products, key in-line brands and recent commercial launches. Notably, we achieved exceptional growth in our Oncology portfolio, with strong revenue contribution from our legacy-Seagen products.
“Overall, I am encouraged by our performance in the first half of 2024 and we remain focused on making a difference in the lives of patients as we continue to advance and strengthen our company.
Highlights
- Second-Quarter Performance Driven by Focused Commercial Execution
- Raises Full-Year 2024 Revenue Guidance to a Range of $59.5 to $62.5 Billion and Raises Adjusted Diluted EPS Guidance to a Range of $2.45 to $2.65
- Launched Manufacturing Optimization Program with Anticipated Cost Savings of Approximately $1.5 Billion by the End of 2027
- Second-Quarter 2024 Revenues of $13.3 Billion
- Revenues Grew 3% Operationally Year-over-Year Despite Anticipated Decline in COVID Revenues
- Excluding Contributions from Comirnaty and Paxlovid, Revenues Grew 14% Operationally
- Second-Quarter 2024 Reported Diluted EPS of $0.01 and Adjusted Diluted EPS of $0.60
- Includes $1.3 Billion of One-Time Costs for Manufacturing Optimization Program, Negatively Impacting Reported Diluted EPS by $0.18
- On Track to Deliver at Least $4 Billion in Net Cost Savings by End of 2024 from Previously Announced Cost Realignment Program
