PFE · 10-Q · 2026Q2 · Full report
Operating Expense Trends
PFIZER INC · 2026-08-04 · Importance 29 · Surprise 22 · No source text
Second-quarter R&D expense increased $327 million to $2.8 billion, and six-month R&D expense increased $614 million to $5.3 billion. Oncology and obesity candidates accounted for $240 million of the quarterly increase and $420 million of the year-to-date increase. Six-month selling, informational and administrative expense decreased $74 million to $6.4 billion, reflecting $130 million lower corporate-enabling spending and $100 million lower marketing and promotional spending, partly offset by $90 million of foreign-exchange pressure and $70 million of cost-realignment implementation costs.
Key facts
- Selling, informational and administrative expenses for three months ended June 28, 2026: $3,411 million; for three months ended June 29, 2025: $3,415 million (relatively flat). source
- In November 2024, the FASB issued final guidance requiring disaggregated disclosures of certain categories of expenses; effective 2027 for annual reports and 2028 for interim reports with early adoption permitted. source
- In September 2025, the FASB issued final guidance to modernize accounting for internal use software costs with an effective date of January 1, 2028, with early adoption permitted. source
- GAAP Reported other (income)/deductions—net for the three months ended June 28, 2026: $3,716 million. source
- Non-GAAP Adjusted net income/(loss) attributable to Pfizer Inc. common shareholders for the three months ended June 28, 2026: $4,440 million. source
- Amortization of intangible assets included in adjustments for the three months ended June 28, 2026: $1,185 million (pre-tax, reflected in net income reconciling amount). source
- Other adjustments for the three months ended June 28, 2026 include $(20) million in cost of sales, $(7) million in selling expenses and $1,003 million in other (income)/deductions—net (pre-tax). source
- GAAP Reported selling, informational and administrative expenses for the three months ended June 28, 2026: $3,411 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | realized | +29.5% | Non-GAAP Adjusted net income/(loss) attributable to Pfizer Inc. common shareholders for the three months ended June 28, 2026: $4,440… |
| operating_income | positive | realized | +0.0% | Selling, informational and administrative expenses for three months ended June 28, 2026: $3,411 million; for three months ended June 29,… |
| operating_income | unclear | committed | — | In September 2025, the FASB issued final guidance to modernize accounting for internal use software costs with an effective date of… |
| assets | unclear | committed | — | In September 2025, the FASB issued final guidance to modernize accounting for internal use software costs with an effective date of… |
| operating_income | negative | realized | — | GAAP Reported other (income)/deductions—net for the three months ended June 28, 2026: $3,716 million. |