Pfizer’s Oncology Innovation Day: Company Launches Strategy to Deliver Next Era of Meaningful Treatments for Cancer Patients

March 7, 2024

During Pfizer’s Oncology Innovation Day on February 29th, the company’s Oncology leadership team unveiled its new Oncology organization, sharing a look into its research and development pipeline and strategic priorities which are designed to drive long-term sustainable growth.

As a new organization, Pfizer Oncology has a bold vision that aligns with Pfizer’s purpose – breakthroughs that change patients’ lives. Employing Pfizer Oncology’s vision to accelerate breakthroughs that help people with cancer globally live better and longer lives, the Oncology leadership team walked investors through its strategic plan to “Outdo” cancer. As Chief Oncology Officer, Chris Boshoff recognized, “the vision is ambitious, but rightfully so.”

With the establishment of Global Oncology in 2014, Pfizer has long been committed to the research and development of innovative cancer treatments for patients globally. This commitment was further strengthened in December 2023 by the addition of Seagen, a global biotechnology company that helped discover, develop and commercialize transformative cancer medicines. With the integration of Seagen, the expertise and collective capabilities of Pfizer today are now amplified to help deliver even more impact for patients around the world than each company could do by itself.

Read more below about how the Oncology organization is well positioned to deliver on Pfizer’s goal to advance new standards of care and improve outcomes for patients.

Industry-Leading Positioning

Pfizer Oncology leadership spotlighted the expansion of Pfizer’s oncology capabilities and portfolio following the completion of the Seagen acquisition in late 2023 — specifically the “energy of our highly talented colleagues,” said Boshoff.

Expanding Expertise: The division’s leadership team boasts nearly 300 years of combined academia and industry expertise and talent.
Advancing Innovation: Significantly expanded pipeline focused on accelerating the next generation of potential cancer breakthroughs.
Maximizing Global Scale: Extensive global manufacturing capabilities combined with a commercial footprint in 100+ countries.

The Best-of-Both approach to integrating Pfizer and Seagen helps amplify the ability to be an industry leader.

Expertise + Innovation + Scale = Potential Breakthrough Medicines

Prioritized Portfolio of Potential Breakthroughs

Cancer remains one of the greatest health challenges of our lifetime. In 2024, it is expected there will be approximately 2 million new cancer cases in the United States¹ and an estimated 20 million new cancer cases globally².

The Oncology organization’s strategic priorities elevate its global fight against cancer and are designed to accelerate new standards of patient care.

Investing in Novel Scientific Methods: Pfizer is focused on three modalities that helps enable it to combine and adapt modalities to improve patient outcomes:
- Small Molecules based on the company’s world-class, structure-guided drug discovery and medicinal chemistry expertise
- Antibody-Drug Conjugates (ADCs) a next-gen platform aimed at novel targets leveraging improved and differentiated payloads
- Bispecific Antibodies that leverage protein engineering and antibody design to develop next generation biologics

Expanding Leadership in Four Main Cancer Types: The company announced it will focus on four main cancer types where it has the deep expertise and knowledge to advance its leadership:
- Breast cancer, including three main hormonal subtypes
- Genitourinary cancer, including prostate and urothelial cancers
- Hematology-oncology, including multiple myeloma and lymphomas, such as Hodgkin’s disease
- Thoracic cancers, which includes lung and head and neck cancers

Short-Term Catalysts for Potential Long-Term Growth

By employing Pfizer’s oncology strategy, the company anticipates its robust portfolio and R&D engine is poised to unlock meaningful potential for patients with cancer by 2030 and beyond.

Short-Term Catalysts: Pfizer anticipates significant catalysts through the first half of 2025, including:
- Continued focus on 4️ recent priority indication launches
- 7️ anticipated Phase 3 readouts
- 6️ anticipated Phase 3 study starts

Cutting-Edge R&D: Pfizer has a deep and diverse oncology pipeline which includes:
- 49 ongoing clinical development programs and 60+ discovery programs, with substantial opportunities to explore treatment combinations.

Long-Term Goals: Pfizer’s Oncology organization is well-positioned to be a critical driver of potential long-term sustainable sales and profit growth. By 2030, the company:
- Expects biologic therapies to contribute approximately 65% of oncology revenues compared to approximately 6% in 2023
- Anticipates potentially 8 or more blockbuster medicines.

Watch For Yourself: You can access a recording of the webcast and related materials on the Pfizer investor relations website here.

Forward-looking statements included herein and during Oncology Innovation Day are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. We encourage you to read our reports filed with the U.S. Securities and Exchange Commission (SEC), including the sections captioned “Risk Factors” and “Forward Looking Information and Factors that May Affect Future Results,” for a description of such substantial risks and uncertainties. These reports are available at www.pfizer.com and the SEC’s website at www.sec.gov. Please also refer to Pfizer’s press release and Oncology Innovation Day presentation dated February 29, 2024, which are available on our website. This article and the Oncology Innovation Day materials are for the investment community and are not intended to influence prescribing decisions.

¹American Cancer Society Facts & Figures Report (2024)

²International Agency for Research on Cancer (IARC) Global Cancer Observatory

Forward-looking statements included herein are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. We encourage you to read our reports filed with the U.S. Securities and Exchange Commission (SEC), including the sections captioned “Risk Factors” and “Forward Looking Information and Factors that May Affect Future Results,” for a description of such substantial risks and uncertainties. These reports are available at pfizer.com and the SEC’s website.

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