CLAIM #48529 · Pfizer Inc (PFE) · 2024Q4 earnings call · Feb 4, 2025 · due Dec 31, 2030
“We had -- very clear about so far, we have acquired $20 billion of [indiscernible] revenues. We are very confident that we will hit this number, very confident.”
Albert Bourla · CEO
How to check this claim
Look at: Cumulative acquired revenue from business development deals (announced deal-contributed revenue), counted toward the $25 billion by-2030 target
It came true if: Company-disclosed cumulative acquired revenue from BD >= $25 billion by end of 2030
Where: Management commentary / investor day disclosures on business development revenue target (earnings calls, JPM healthcare conference presentations, 10-K)
In context
“terms of business development strategy, I think the vocabulary you used included a capacity of perhaps in the $10 billion to $15 billion ZIP code. And I'm curious to know what you're solving for. And I asked this in part because, historically, there had been a view of using cash to acquire $25 billion in revenue by the end of the decade. But now when we think about where we are in this decade, and we think could be solving for structurally, there seem to be approaches sourcing assets from China, for instance. Many of your competitors are doing this. Are you solving for near-term revenues, or are you looking to use other methods, including perhaps partnerships over M&A? That would be helpful. Thank you. Albert Bourla: Yes. Let me start a little bit on the BD, on this one, you can chime in. We had -- very clear about so far, we have acquired $20 billion of [indiscernible] revenues. We are very confident that we will hit this number, very confident. So that's so far, so good on that, right? Looking forward, of course, we are looking at more strategic opportunities right now, which will enhance pipeline in areas that we would like to play rather than near-term revenues on BD. I would ask Andrew to comment, and then if you can speak, Chris, about the antagonist. Andrew Baum: Sure. So hi Chris, nice to hear your voice. So on the BD side, Albert said the keyword, which is strategic. So everything we do will be doing through a strategic lens of building around our core competencies or building competencies in areas that maybe we have not been in previously, if that's what we decide to do. On your point regarding China, it has not escaped our attention. Of course, the innovation from China across multiple therapeutic areas. And indeed, tha”
Verify independently
SEC filings for PFE ↗ · Claim quote is verbatim from the 2024Q4 earnings call.