Here’s What Analysts Asked About Pfizer’s Research and Development Strategy as Part of its Q4-FY 2024 Earnings Call

Last week, Pfizer’s Chairman and Chief Executive Officer, Albert Bourla and Chief Financial Officer, Dave Denton shared the company’s fourth-quarter and full-year 2024 financial results and performance highlights. Following their remarks, members of Pfizer’s executive leadership team answered several questions from analysts including questions specific to its research and development (R&D) strategy including, portfolio optimization, investment prioritization, and opportunities to improve efficiency. Here are summaries of certain questions asked and excerpts from the responses:

Steve Scala of TD Cowen asked about opportunities for improvement within Pfizer’s R&D portfolio or system and whether Pfizer’s new leadership plans to reassess the portfolio and potentially discontinue certain projects.

Here’s how Chris Boshoff, Chief Scientific Officer and President, Research and Development responded:

In November 2024, Pfizer announced the appointment of Chris Boshoff, M.D., PhD, as Chief Scientific Officer and President, Research & Development effective January 1, 2025. Dr. Boshoff, who most recently served as Chief Oncology Officer and Executive Vice President at Pfizer, succeeded Dr. Mikael Dolsten whose departure from Pfizer was announced earlier last year. In his new role, Dr. Boshoff remains a member of Pfizer’s Executive Leadership Team reporting to Chairman and Chief Executive Officer, Dr. Albert Bourla, and he oversees all functions of Research & Development across all therapeutic areas. During Dr. Boshoff’s more than 11 years at Pfizer, he has delivered an impressive 24 approved innovative medicines and biosimilars in more than 30 indications.

Courtney Breen of Alliance Bernstein asked Pfizer for clarification on the company’s R&D strategy, specifically regarding the shift to four R&D organizations and how this compares to the previous oncology structure. She also inquired about investment allocation and prioritization across these four engines.

Chris Boshoff and Andrew Baum, Chief Strategy and Innovation Officer, Executive Vice President provided insights:

In 2024, Pfizer made strides in its research and development efforts, achieving over a dozen approvals, starting seven pivotal studies, and delivering eight key Phase 3 readouts. In addition, the company invested nearly $11 billion in internal R&D programs, underscoring its commitment to scientific advancement.

A transcript and webcast replay of Pfizer’s fourth quarter and full-year 2024 earnings conference call is available at www.pfizer.com/investors.

Forward-looking statements included herein, including those related to our anticipated operating and financial performance, our research and development strategy and productivity, and our product and pipeline advancements and candidates, 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.