Pfizer (PFE) UBS Global Healthcare Conference 2024 summary

Strategic priorities and execution

• Focused on five key priorities: oncology leadership, pipeline advancement, new product growth, margin expansion, and capital allocation.

• Achieved strong integration of Seagen, making the company the third largest in oncology.

• Delivered $4 billion in net savings and maintained commitment to a growing dividend and deleveraging.

• Ongoing resource reallocation and sales force retargeting to drive growth in competitive categories.

• Early signs of success in products like Eliquis, Vinda, Nurtec, and vaccines portfolio.

Commercial and operational updates

• U.S. sales force and promotional investments have been restructured for efficiency and impact.

• Market share gains in vaccines and strong transition of PAXLOVID to a commercial model.

• Close collaboration with innovation and access teams to inform R&D and business development decisions.

• Hospital business remains significant, with ongoing portfolio reviews for potential divestments.

Policy and regulatory environment

• Prepared to work with the incoming Trump-Vance administration, focusing on pro-innovation and pro-patient policies.

• Advocating for PBM reform due to high concentration and rebate-driven incentives in the market.

• IRA and Part D reforms in 2025 expected to create both opportunities (increased utilization) and headwinds (higher manufacturer liability).

• Eliquis subject to negotiation in 2026, with manageable impact anticipated.