Biotech Values

[DewDiligence]

PFE reports 4Q24 results—reiterates 2025 guidance:

https://s28.q4cdn.com/781576035/files/doc_financials/2024/q4/Q4-2024-PFE-Earnings-Release-Final.pdf

4Q24 highlights

• 4Q24 revenue was $17.8B, +21% YoY. After adjusting for the 4Q23 Paxlovid writedown, 4Q24 revenue was +11% YoY.

• 4Q24 oncology sales were $4.1B, +27% YoY, including a $915M contribution from legacy Seagen products.

• 4Q24 Comirnaty and Paxlovid sales were $3.4B (-62% YoY) and $727M (no meaningful growth rate due to 4Q23 writedown), respectively.

• 4Q24 Abrysvo sales were $198M, -62% YoY; however, Abrysvo sales in the maternal indication increased sharply.

• 4Q24 GAAP and non-GAAP EPS were $0.07 and $0.63, respectively. The GAAP figure includes a $2.9B non-cash asset-impairment writedown relating to various products.

2025 guidance for revenue and non-GAAP remains as announced in December (#msg-175541136).


4Q24 CC slides:
https://s28.q4cdn.com/781576035/files/doc_financials/2024/q4/Q4-2024-Earnings-Charts-FINAL.pdf

4Q24 CC prepared remarks (synched with slides): https://s28.q4cdn.com/781576035/files/doc_financials/2024/q4/Q4-2024-Earnings-Conference-Call-Prepared-Remarks-FINAL.pdf