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About This Review

Scope of Reporting

This review covers Pfizer's worldwide business and provides information on our activities for the year ending on December 31, 2019. It describes key dimensions of our purpose, strategy and performance. It also describes critical challenges in society – from expanding access to health care to our environmental impact – and our strategies for addressing them. Data in this review covers the calendar year from January 1 to December 31, 2019, unless otherwise stated. There have been no significant changes from previous reporting periods in the scope, boundary or measurement methods applied in this review.

Corporate Responsibility Materiality

The content of this report is based on two key factors – its importance to stakeholders and its potential to influence business strategy. Pfizer aims to address critical issues most relevant for colleagues and external stakeholders. These include the following topics that influence the sustainability of the organization:

  • Patient Access.
  • Environmental Sustainability.
  • Culture and Human Capital.
  • Employee Health & Safety.
  • Quality, Manufacturing and Supply Chain Management.
  • Ethics and Compliance.
  • United Nations (UN) Sustainable Development Goals (SDGs).

Stakeholder Engagement

We greatly value our stakeholders' perspectives, and all Pfizer units globally and locally engage with stakeholders on relevant issues throughout the year. We continue to explore new ways to engage a broad range of stakeholders to better understand the evolving reporting environment and determine how key non-financial indicators are impacting our financial performance.

Corporate Responsibility Management

This review was developed by a core group of Pfizer colleagues representing each business unit and other key functions. The core group is managed by our Corporate Affairs department, whose leader is a member of the Executive Leadership Team and reports directly to the Chief Executive Officer. Pfizer's commitment to society is embedded in our business strategy and vision, and our commercial teams and functional groups share the commitment to integrate such values into our daily work. The Global Health & Patient Access team sets the strategic direction for meeting our commitment to society, particularly with regard to underserved populations. A cross-functional Sustainability Reporting Steering Committee advises on key environmental, social and governance (ESG) issues and guides the integration and implementation of Pfizer’s non-financial reporting processes. We are actively engaged in a dialogue with investors around their interest in ESG performance and the impact on the company. Today, we strive to have these principles permeate Pfizer at every level – including our Board of Directors – which maintains oversight for these issues through the Corporate Governance Committee. The Committee maintains an informed status on our corporate social responsibility, sustainability and philanthropic efforts and progress.

Improving Our Access to Medicine Offerings

Every two years, the Access to Medicine Index (ATMi) assesses the top 20 research-based pharmaceutical companies on their strategies to enable greater access to essential medicines, vaccines and diagnostics in low- and middle-income countries. The Index ranks these companies according to their efforts in several areas, including research and development, capacity building, compliance and others.

In 2018, Pfizer improved its overall ranking by three places, jumping to 11th place from 14th in 2016. Theperformance increase was credited to the introduction of our access to medicine strategy, strong compliance efforts and continued commitment to health care system strengthening. Pfizer obtained improvements in the following categories:

  • Market Influence & Compliance.
  • Capacity Building.
  • General Access to Medicine Management.
  • Pricing, Manufacturing & Distribution.
  • R&D.

Pfizer supports the goals of the ATMi and recognizes the importance of having a tool that attempts to measure access to medicines and vaccines. Our improved ranking to number 11 on the list is a confirmation of the significant efforts we make to increase access to our medicines and vaccines, including advancements in our pipeline, the development and implementation of equitable pricing strategies and advancing our donation programs.

Our multiple approaches to social investments apply novel, well-researched and sustainable approaches to meet the health needs of the underserved while investing in the health of our communities and our business. We strive to make the best use of Pfizer's resources – our people, products and funding – to help build health care capacity and expand access to medicines and vaccines.

Global Reporting Frameworks

Pfizer continues to evaluate our approach to reporting, including reference to several existing, globally recognized external frameworks. These include the Global Reporting Initiative (GRI), the Task Force for Climate-Related Financial Disclosures and the International Integrated Reporting Council. We relied on elements of each framework in developing this year's Annual Review, while formally adhering to none in its entirety. We included GRI Reference Tables as a tool to help readers more readily locate relevant information within this review and across Pfizer's web-based resources.

Pfizer also considers elements of other ESG indices and sustainability indicators – in particular, the ATMi and the UN SDGs (also known as the Global Goals). Throughout this review, you will see the Global Goals icons alongside various efforts to highlight the work we are doing across Pfizer to meet these goals by 2030. 

As a signatory to the UN Global Compact – a document that asks companies to embrace universal principles and to partner with the UN – we submit an annual communication to the UN on our progress made toward achieving the Global Goals.View the full progress update.

Read more about ourCorporate and Shareholder Information, including Forward-Looking Statements.

Forward-Looking Information

This Annual Review includes forward-looking statements about, among other things, our anticipated operating and financial performance, business plans and prospects, expectations for our product pipeline, in-line products and product candidates, including anticipated regulatory submissions, data read-outs, study starts, approvals, revenue contribution, growth, performance, timing of exclusivity and potential benefits, strategic reviews, capital allocation objectives, plans for and prospects of our acquisitions and other business-development activities, including our proposed transaction with Mylan N.V. (Mylan) to combine Upjohn and Mylan to create a new global pharmaceutical company, Viatris, and our acquisition of Array BioPharma Inc., our ability to successfully capitalize on growth opportunities or prospects, manufacturing and product supply and plans relating to share repurchases and dividends that are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Please refer to Pfizer's Annual Report on Form 10-K for the year ended December 31, 2019, and Pfizer's subsequent reports on Form 10-Q, including the sections thereof captioned “Risk Factors” and “Forward-Looking Information and Factors That May Affect Future Results,” as well as Pfizer's subsequent reports on Form 8-K for a description of the substantial risks and uncertainties related to the forward-looking statements included in this Annual Review. These reports are available on our website atwww.pfizer.com and on the U.S. Securities and Exchange Commission's (SEC) website atwww.sec.gov. The forward-looking statements in this Annual Review speak only as of the original date of this Annual Review, and we undertake no obligation to update or revise any of these statements, except as required by law or the rules and regulations of the SEC.