PFE · 8-K · 20260804PR000094

Operating Expense Trends

PFIZER INC · 2026-08-04 · Importance 41 · Surprise 22 · In source text

Reported second-quarter SI&A expense was $3.411 billion, essentially unchanged year over year, while operational SI&A expense decreased 1%. The SI&A decrease reflected lower spending in corporate enabling functions, largely offset by higher implementation costs associated with Pfizer’s cost realignment program. Reported R&D expense increased 13% to $2.809 billion, and adjusted R&D expense increased 12% to $2.730 billion. The R&D increase was driven primarily by higher spending on oncology and obesity product candidates.

Key facts

• Pfizer deployed $5.3 billion invested in internal research and development projects in the first six months of 2026 source
• Second-quarter 2026 R&D Expenses: $2,809 million (Adjusted R&D: $2,730 million), up 13% operationally year-over-year source
• Other (income)/deductions—net for Q2 2026: $3,716 million source
• Second-Quarter 2026 Adjusted Income: $4,440 million source
• Second-quarter 2026 SI&A Expenses: $3,411 million (Adjusted SI&A: $3,344 million) source
• Second-quarter 2026 Non-GAAP Adjusted net interest expense: $557 million (Interest income $(113) million; Interest expense $670 million) source
• Six months 2026 Non-GAAP Adjusted net interest expense: $1,113 million (Interest income $(227) million; Interest expense $1,341 million) source
• Six months 2026 Non-GAAP Adjusted Other (income)/deductions––net: $496 million source

Impact estimates