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How Pfizer Makes Money

Pfizer’s Biopharma segment contributes most t🌼o company revenues

Updated June 12, 2024

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Pfizer Inc. (PFE) generates revenue globally by developing, manufacturing, and selling biopharmaceutical products derived from sources such as organs and tissues, microorganisms, or animal fluids, obtained through biotechnological processes. Pfizer works across 澳洲幸运5官方开奖结果体彩网:developed and 澳洲幸运5官方开奖结果体彩网:emerging markets and collaborates with other companies to develop therapies and medicines.

Key Takeaways

Pfizer develops and manufactures drug treatments to promote health and prevent disease.
Pfizer's business segments include Biopharmaceuticals and Business Innovation.
Pfizer used mRNA technology to develop its COVID-19 vaccine.

Pfizer's Industry

Pfizer operates in highly competitive and often highly regulated markets. The pharmaceutical industry requires significant spending on research and development. 澳洲幸运5官方开奖结果体彩网:Pfizer’s main competitors include Merck & Co. Inc. (MRK), Switzerland-based Novartis AG (NVS), Eli Lilly & Co. (LLY), Bristol-Myers Squibb Co. (BMY), and Johnson & Johnson (JNJ).

Commercial operations include two segments: Biopharma, the company's science-based biopharmaceutical business, and Business Innovation. In 2023, Biopharma was the only reportable segment accounting for Primary Care, Specialty Care, and Oncology.

Primary Care: Includes Internal Medicine and Vaccine portfolios that treat cardiovascular diseases, migraines, women's health, and infectious diseases.
Specialty Care: Includes the Inflammation, Immunology, Hospitals, and Rare Diseases portfolios, catering to chronic immune and inflammatory diseases. This segment holds brands for therapeutics for amyloidosis, hemophilia, endocrine diseases, sickle cell disease, and sterile injectable and anti-infective medicines.
Oncology: Develops innovative treatments for breast, prostate, lung, colorectal, ovarian, renal, hematologic, and other forms of cancer.
Business Innovation: An operating segment that includes PC1, the contract development and manufacturing organization and leading supplier of specialty active pharmaceutical ingredients, and Pfizer Ignite which provides strategic guidance and end-to-end R&D services.

Pfizer’s Financials

In Feb. 2023, Pfizer announced financial results for its 2023 澳洲幸运5官方开奖结果体彩网:fiscal year (FY), which ended Dec. 31, 2023. The company reported revenue of $58.5 billion, down 41% 澳洲幸运5官方开奖结果体彩网:year over year (YOY) from 2022. The loss is due to a decline in demand for COVID-19 products.

Pfizer ranked first in pharmaceutical companies for revenues from pharmaceutical-only products. The COVID-19 vaccine, COMIRNATY, the blood thinner ELIQUIS, and the pneumococcal vaccine PREVNAR combined made up 42% of the company's revenue.

History and Leadership

Charles Pfizer and Co. was founded in 1849 in Brooklyn, N.Y. The company produced Vitamin C in the 1930s and manufactured penicillin during World War II. During the COVID-19 pandemic, Pfizer led the development of a vaccine.As of 2024, Dr. Albert Bourla serves as the Chairman and CEO of Pfizer.

Recent Developments

In 2023, Pfizer acquired nine new molecular entities with FDA approvals and approximately 618 million individuals were treated with Pfizer medicines and vaccines. Pfizer also completed its acquisition of Seagen Inc., a global biotechnology company that specializes in cancer medicines.

How Is Pfizer Using mRNA Technology?

An 🌼mRNA-based COVID-19 vaccine was a scientific milestone and established mRNA as a versatile technology. Pfizer developed its COVID-19 vaccine in partnership with BioNTech.

Pfizer is moving forward with mRNA scientific innovation and expanding its use in infectious diseases such as influenza and shingles.

How Does Pfizer Impact Global Health Initiatives?

Pfizer's "Accord for a Healthier World" hopes to provide greater access to medicines and vaccines to 1.2 billion people in 45 lower-income countries.

What Does Biopharma Mean?

Biopharma is short for biopharmaceuticals, where biotechnology and pharmaceutical manufacturing combine. Biopharma us𝔍es living organisms or components of living organisms, to prevent or t༺reat disease.

The Bottom Line

Pfizer generates most of its revenue from its Biopharma division which supports Primary Care, Specialty Care, and Oncology. Inꦜ 2023, revenue decreased due to reduced demand for COVID-19 product💃s.

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