Pfizer, Inc. (PFE) CEO Albert Bourla on Q1 2022 Results - Earnings Call Transcript

Pfizer, Inc. (NYSE:PFE) Q1 2022 Earnings Conference Call May 3, 2022 10:00 AM ET

Company Participants

Christopher Stevo - SVP & Chief IR Officer

Albert Bourla - Chairman & CEO

Mikael Dolsten - Chief Scientific Officer & President, Worldwide Research, Development & Medical

Frank D'Amelio - CFO

Aamir Malik - EVP & Chief Business Innovation Officer

William Pao - EVP & Chief Development Officer

Angela Hwang - Group President of Biopharmaceuticals Group

Conference Call Participants

Louise Chen - Cantor Fitzgerald & Co.

Evan Seigerman - BMO Capital Markets

Mohit Bansal - Wells Fargo Securities

Terence Flynn - Morgan Stanley

Stephen Scala - Cowen and Company

Carter Gould - Barclays Bank

Alexandria Hammond - Bank of America Merrill Lynch

Timothy Anderson - Wolfe Research

Robyn Karnauskas - Truist Securities

Vamil Divan - Mizuho Securities

Christopher Schott - JPMorgan Chase & Co.

Kerry Holford - Berenberg

Colin Bristow - UBS

Andrew Baum - Citigroup

Operator

Good day, everyone, and welcome to Pfizer's First Quarter 2022 Earnings Conference Call. Today's call is being recorded. At this time, I would like to turn the call over to Chris Stevo, Senior Vice President and Chief Investor Relations Officer. Please go ahead, sir.

Christopher Stevo

Thank you, operator. Good morning. Welcome to Pfizer's first quarter earnings call. I'm joined today by Dr. Albert Bourla, our Chairman and CEO; Frank D'Amelio, our CFO; and Mikael Dolsten, President of Worldwide Research and Development and Medical. Joining us for the Q&A session, we will also have Angela Hwang, Group President, Pfizer Biopharmaceuticals Group; Aamir Malik, our Chief Business and Innovation Officer; Doug Lankler, our General Counsel; and William Pao, our new Chief Development Officer.

The materials for this call and other earnings-related materials are on the Investor Relations section of pfizer.com. Please see our forward-looking statements disclaimer on Slide 3 and additional information regarding these statements and our non-GAAP financial measures is available in our earnings release and in our SEC Forms 10-K and 10-Q under Risk Factors and Forward-Looking Statements. Forward-looking statements on the call are subject to substantial risks and uncertainties, speak only as of the call's original date, and we undertake no obligation to update or revise any of the statements. With that, I will turn the call over to Albert.

Albert Bourla

Thank you, Chris, and good morning, everyone. Pfizer had what a solid start to the year. Revenues were up 82% operationally compared with the first quarter of 2021. Key growth drivers for the quarter included COMIRNATY, PAXLOVID, Eliquis, VYNDAQEL/VYNDAMAX globally, our Prevnar family of vaccines and our oncology biosimilars portfolio in the U.S. Overall, we reached an estimated 468 million patients around the world only in 1 quarter with our innovative medicines and vaccines, which represent a 140% increase from the prior year quarter, and it is a testament to our purpose, breakthroughs that change patients' lives.