PFIZER, INC.

(PFE)
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Delayed Nyse  -  04:03 2022-08-18 pm EDT
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Pfizer : Statement by Pfizer Chairman and CEO Albert Bourla to Pfizer Colleagues

06/22/2022 | 12:35pm EDT

New York, N.Y., June 22, 2022 - Pfizer Inc. (NYSE:PFE) - On March 14, we announced that, effective immediately, Pfizer would donate the equivalent of all profits from our sales in Russia to causes that provide direct humanitarian support to the people of Ukraine. Today, I am pleased to say we are making good on this promise.

Our first down payment of U.S. $5 million will go to eight global and local NGOs to support humanitarian relief and response efforts. This includes food security and support services, education for children, and other pressing needs of the people of Ukraine. This is in addition to all other previously announced donations to Ukraine from Pfizer Inc., The Pfizer Foundation and the more than 4,500 colleagues who donated through the Give Forward program. We will continue to divert these profits to the Ukrainian people until peace is achieved. Until that time, we also stand firm in our decision to cease all our clinical trials in Russia and to halt all investments in local manufacturing.

I am proud that Pfizer chose to lead with a novel approach in responding to this crisis. While many multinationals have exited Russia completely, we in the biopharmaceutical sector have had a historical exemption from economic sanctions on a so-called "humanitarian" basis, as we have an obligation to deliver our lifesaving medicines and vaccines to patients regardless of the circumstances. But rather than use this exception as an excuse to do nothing more than business as usual, we found a way to continue to serve patients while also helping those whose lives have been torn apart by the war.

These actions are consistent with Pfizer's equity value and with the evolving role corporations are playing in our world. In the summer of 2019, The Business Roundtable (BRT) redefined the role of corporations as having a duty to stakeholders inclusive of, but far broader than, shareholders. They declared that businesses and chief executives must play a role in leading on societal issues and addressing underserved communities as a core function. Like 180 of my peers in other great companies, I signed up. I did so because I wanted the world to know that Pfizer is a company that leads with purpose - and with humanity at its core. I also signed up secure in the knowledge that Pfizer colleagues around the world felt the same way. And you continue to demonstrate this in meaningful ways.

The world is watching, and I couldn't be prouder of how our company has risen to the moment and is living our equity value.

Pfizer Contact:

Media Relations
+1 (212) 733-1226
PfizerMediaRelations@pfizer.com

Investor Relations
+1 (212) 733-4848
IR@pfizer.com

Disclaimer

Pfizer Inc. published this content on 22 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2022 16:34:05 UTC.


© Publicnow 2022
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Financials (USD)
Sales 2022 102 B - -
Net income 2022 32 675 M - -
Net cash 2022 11 522 M - -
P/E ratio 2022 8,62x
Yield 2022 3,34%
Capitalization 273 B 273 B -
EV / Sales 2022 2,57x
EV / Sales 2023 3,25x
Nbr of Employees 79 000
Free-Float 59,0%
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Managers and Directors
Albert Bourla Chairman, Chief Executive & Operating Officer
David M. Denton Chief Financial Officer & Executive Vice President
Mikael Dolsten Executive VP, President-Research & Development
Lidia L. Fonseca Executive VP, Chief Digital & Technology Officer
Aida Habtezion Chief Medical Officer
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