Pfizer Inc. (NYSE:PFE) Q4 2023 Earnings Call Transcript

Albert Bourla: Yes. And I would add, it is the same exactly with the GBT acquisition. When we did the acquisition, we announced our projections for year 2030. Since then, things have improved in terms of our confidence to deliver these numbers. And I’m not talking only that Oxbryta is performing exactly as we thought it would, but the most important upside is that we had data that we didn’t have when we made the acquisition on the 601 but has the potential to become a transformative therapy in the sickle cell and really, really brings to the next step change if that thing — if the Phase 3, let’s say, reconfirms the Phase 2 results. So also over there, I think what we announced, we feel now we’re more confident but we should be able to achieve and hopefully exceed.

So with that, I think we start to end the call. In summary, we are optimistic about the year ahead. We have defined our five key priorities that will keep us focused. And I repeat again, this will be a year of execution. I have a sample, a team, that are handy that I believe are the absolutely right leaders to execute. And I know that the whole world was impressed with the way that we executed our COVID strategies, how we were able to execute on the R&D front, on the manufacturing front and on the commercial front with two products, the vaccine with the highest market share, and with the product in oral antiviral. We plan to repeat the same execution excellence level as we are building oncology leadership, as we are progressing the next wave of our pipeline, as we are maximizing the performance of all these new launches that have happened, as we execute our cost realignment program starting this year with SI&A, but also which you will see the results.

But of course, the program to improve the gross margin that you won’t see results now because it takes long but we started now as we speak, and laser focus in maximizing value for shareholders with the way that we allocate our capital. The team is there to make sure that this will happen, and I think we should meet again in three months, and we will see how we are progressing against those stated goals. Thank you very much, all. Bye-bye.

Operator: Thank you, ladies and gentlemen. This does conclude today’s Pfizer’s Fourth Quarter 2023 Earnings Conference Call. We appreciate your participation, and you may disconnect at this time.