8-KOther Events

PFIZER INC 8-K Report (Jun 17, 2003)

Filed June 17, 2003For Securities:PFE

Summary

Pfizer Inc. (PFE) filed an 8-K on June 17, 2003, to disclose financial projections and information presented to securities analysts. The report highlights the combined company's pro-forma revenue and earnings per share growth expectations following the merger with Pharmacia Corporation, which was completed on April 16, 2003. Investors can glean forward-looking insights into Pfizer's anticipated financial trajectory.

Key Highlights

  • 1Pfizer will hold a meeting with securities analysts on June 17, 2003, to present financial information related to the Pharmacia merger.
  • 2Pro-forma combined revenue for Pfizer/Pharmacia in 2002 was approximately $45 billion.
  • 3Pfizer projects a compound annual revenue growth rate of approximately 10% from 2002 to 2004, reaching $54 billion in 2004.
  • 4Adjusted diluted earnings per share are projected to grow at a 16% compound annual rate from 2002 to 2004, reaching $2.13 in 2004.
  • 5A reconciliation is provided for Pfizer's reported 2002 revenues to the pro-forma combined revenue, showing an adjustment to eliminate intercompany transactions.
  • 6Pfizer will file pro-forma financial statements related to the Pharmacia acquisition by June 30, 2003.
  • 7A visual aid containing this information is attached as Exhibit 99.

Frequently Asked Questions

The main purpose of this 8-K filing is to inform investors about key financial projections and information that Pfizer Inc. will present to securities analysts. This includes expected revenue and earnings growth following the company's merger with Pharmacia Corporation.

Pfizer projects a compound annual revenue growth rate of approximately 10% from 2002 to 2004, with total combined revenue expected to reach $54 billion in 2004. Adjusted diluted earnings per share are expected to grow at a 16% compound annual rate, reaching $2.13 in 2004.

Pfizer expects to file the pro-forma financial statements related to the acquisition of Pharmacia by June 30, 2003.

The pro-forma adjustment of ($1,368 million) for 2002 revenues is to eliminate transactions between Pfizer and Pharmacia that occurred under their prior marketing agreements, ensuring a clearer view of the combined entity's performance post-merger.