Pfizer Reports Fourth-Quarter And Full-Year 2012 Results; Provides 2013 Financial Guidance

The 2013 financial guidance does not assume the completion of any business development transactions not completed as of December 31, 2012, including any one-time upfront payments associated with such transactions, and excludes the potential effects of the resolution of litigation-related matters not substantially resolved as of December 31, 2012.

The 2013 financial guidance reflects the benefit of a full-year contribution from Zoetis ⁽⁴⁾. Adjusted ⁽²⁾ and Reported ⁽³⁾ Diluted EPS guidance includes a $0.02 unfavorable impact for Zoetis ⁽⁴⁾-related interest expense and certain duplicative and other costs given its potential separation. Reported Diluted EPS ⁽³⁾ guidance includes an additional $0.02 unfavorable impact for costs related to the establishment of Zoetis’ ⁽⁴⁾ corporate and manufacturing support functions, and certain other costs related to the potential separation of Zoetis ⁽⁴⁾ from Pfizer, including new branding, creation of a standalone infrastructure, site separation and certain legal registration and patent assignment costs.

For additional details, please see the attached financial schedules, product revenue tables, supplemental information and disclosure notice.

(1)		On November 30, 2012, Pfizer completed the sale of the Nutrition business to Nestlé. The operating results of the Nutrition business are reported as Discontinued Operations – net of tax in the consolidated statements of income for all periods presented. The gain on the sale of the Nutrition business is reported as Discontinued Operations – net of tax in the consolidated statements of income for fourth-quarter and full-year 2012.
(2)		"Adjusted Income" and its components and "Adjusted Diluted Earnings Per Share (EPS)" are defined as reported U.S. generally accepted accounting principles (GAAP) net income (3) and its components and reported diluted EPS (3) excluding purchase accounting adjustments, acquisition-related costs, discontinued operations and certain significant items. Adjusted Cost of Sales, Adjusted Selling, Informational and Administrative (SI&A) expenses, Adjusted Research and Development (R&D) expenses and Adjusted Other (Income)/Deductions are income statement line items prepared on the same basis, and, therefore, components of the overall adjusted income measure. As described under Adjusted Income in the Management’s Discussion and Analysis of Financial Condition and Results of Operations section of Pfizer's Form 10-Q for the fiscal quarter ended September 30, 2012, management uses adjusted income, among other factors, to set performance goals and to measure the performance of the overall company. We believe that investors' understanding of our performance is enhanced by disclosing this measure. Reconciliations of certain GAAP reported to non-GAAP adjusted information for the fourth-quarter and full-year 2012 and 2011, as well as reconciliations of full-year 2013 guidance for adjusted income and adjusted diluted EPS to full-year 2013 guidance for reported net income (3) and reported diluted EPS (3), are provided in the materials accompanying this report. The adjusted income and its components and adjusted diluted EPS measures are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS.
(3)		“Reported Net Income” is defined as net income attributable to Pfizer Inc. in accordance with U.S. GAAP. “Reported Diluted EPS” is defined as reported diluted EPS attributable to Pfizer Inc. common shareholders in accordance with U.S. GAAP.
(4)		Pfizer previously announced its intention to initiate a potential initial public offering of up to a 19.8% stake in Zoetis Inc. (Zoetis), a subsidiary of Pfizer, and Zoetis has filed a registration statement with the Securities and Exchange Commission. Upon completion of the potential initial public offering, Pfizer will have transferred substantially all of its animal health business assets and liabilities to Zoetis. The financial results of Zoetis differ from the financial results of the Animal Health business unit as the components of this unit differ from Zoetis and, therefore, the financial results of the Animal Health business unit should not be relied upon as indicative of the performance of Zoetis.
(5)		On August 1, 2011, Pfizer completed the sale of Capsugel to an affiliate of Kohlberg Kravis Roberts & Co. L.P. The operating results and the gain on the sale of Capsugel are reported as Discontinued operations – net of tax in the consolidated statements of income for full-year 2011. Additionally, due to the acquisition of King Pharmaceuticals, Inc. (King), legacy King operations are reflected in the results beginning January 31, 2011. Therefore, in accordance with Pfizer’s domestic and international reporting periods, in full-year 2011 the operating results reflect approximately eleven months of King’s U.S. operations and approximately ten months of King’s international operations.
(6)		For a description of each business unit, see Note 13A to Pfizer’s condensed consolidated financial statements included in Pfizer’s Form 10-Q for the fiscal quarter ended September 30, 2012.
(7)		Other includes revenues generated primarily from Pfizer CentreSource, Pfizer’s contract manufacturing and bulk pharmaceutical chemical sales organization.

PFIZER INC. AND SUBSIDIARY COMPANIESCONSOLIDATED STATEMENTS OF INCOME (a)(UNAUDITED)(millions, except per common share data)
			Fourth-Quarter						% Incr. /		Full-Year						% Incr. /
				2012			2011		(Decr.)			2012			2011		(Decr.)
	Revenues		$	15,068		$	16,141		(7)		$	58,986		$	65,259		(10)
	Costs and expenses:
		Cost of sales (b)		3,172			3,627		(13)			11,334			14,076		(19)
		Selling, informational and administrative expenses (b)		4,815			5,197		(7)			16,616			18,832		(12)
		Research and development expenses (b)		2,136			2,587		(17)			7,870			9,074		(13)
		Amortization of intangible assets (c)		1,236			1,406		(12)			5,175			5,544		(7)
		Restructuring charges and certain acquisition-related costs		791			472		68			1,880			2,930		(36)
		Other deductions--net		748			697		7			4,031			2,499		61
	Income from continuing operations before provision
		for taxes on income		2,170			2,155		1			12,080			12,304		(2)
	Provision for taxes on income			680			742		(8)			2,562			3,909		(34)
	Income from continuing operations			1,490			1,413		5			9,518			8,395		13
	Discontinued operations--net of tax			4,831			35		*			5,080			1,654		207
	Net income before allocation to noncontrolling interests			6,321			1,448		*			14,598			10,049		45
	Less: Net income attributable to noncontrolling interests			6			9		(33)			28			40		(30)
	Net income attributable to Pfizer Inc.		$	6,315		$	1,439		*		$	14,570		$	10,009		46
	Earnings per common share--basic: (d)
		Income from continuing operations attributable to
		Pfizer Inc. common shareholders	$	0.20		$	0.18		11		$	1.27		$	1.07		19
		Discontinued operations--net of tax		0.66			-		*			0.68			0.21		224
		Net income attributable to Pfizer Inc. common shareholders	$	0.86		$	0.19		*		$	1.96		$	1.28		53
	Earnings per common share--diluted: (d)
		Income from continuing operations attributable to
		Pfizer Inc. common shareholders	$	0.20		$	0.18		11		$	1.26		$	1.06		19
		Discontinued operations--net of tax		0.65			-		*			0.68			0.21		224
		Net income attributable to Pfizer Inc. common shareholders	$	0.85		$	0.19		*		$	1.94		$	1.27		53
	Weighted-average shares used to calculate earnings per common share:
		Basic		7,319			7,635					7,442			7,817
		Diluted		7,395			7,687					7,508			7,870

(a)	The above financial statements present the three and twelve months ended December 31, 2012 and 2011. Subsidiaries operating outside the United States are included for the three and twelve months ended November 30, 2012 and 2011.
	On November 30, 2012, we completed the sale of our Nutrition business and recognized a gain of approximately $4.8 billion related to the sale of this business in Discontinued operations--net of tax for the three and twelve months ended December 31, 2012. The operating results of this business are reported as Discontinued operations--net of tax for all periods presented.
	On August 1, 2011, we completed the sale of our Capsugel business and recognized a gain of approximately $1.3 billion related to the sale of this business. The gain and the operating results of this business are reported as Discontinued operations--net of tax for the twelve months ended December 31, 2011.
	On January 31, 2011, we completed a tender offer for the outstanding shares of common stock of King Pharmaceuticals, Inc. (King) and, commencing from that date, our financial statements include the assets, liabilities, operating results and cash flows of King. As a result, and in accordance with our domestic and international reporting periods, our operating results for the twelve months ended December 31, 2011 reflect approximately eleven months of King’s U.S. operations and approximately ten months of King’s international operations.
	* Calculation not meaningful.
	Certain amounts and percentages may reflect rounding adjustments.
	See Supplemental Information that accompanies these materials for additional details.
(b)	Exclusive of amortization of intangible assets, except as discussed in footnote (c) below.
(c)	Amortization expense related to acquired intangible assets that contribute to our ability to sell, manufacture, research, market and distribute products, compounds and intellectual property is included in Amortization of intangible assets as these intangible assets benefit multiple business functions. Amortization expense related to acquired intangible assets that are associated with a single function is included in Cost of sales, Selling, informational and administrative expenses or Research and development expenses, as appropriate.
(d)	EPS amounts may not add due to rounding.

PFIZER INC. AND SUBSIDIARY COMPANIESRECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED INFORMATIONCERTAIN LINE ITEMS(UNAUDITED)(millions of dollars, except per common share data)
				Quarter Ended December 31, 2012
				GAAP Reported (1)			PurchaseAccountingAdjustments			Acquisition-RelatedCosts (2)			DiscontinuedOperations			CertainSignificantItems (3)			Non-GAAPAdjusted (a)
	Revenues		$	15,068		$	-		$	-		$	-		$	-		$	15,068
	Cost of sales (b)			3,172			4			(53)			-			(17)			3,106
	Selling, informational and administrative expenses (b)			4,815			9			(1)			-			(165)			4,658
	Research and development expenses (b)			2,136			-			(1)			-			(135)			2,000
	Amortization of intangible assets (c)			1,236			(1,210)			-			-			-			26
	Restructuring charges and certain acquisition-related costs			791			-			(262)			-			(529)			-
	Other deductions--net			748			(10)			-			-			(557)			181
	Income from continuing operations before provision for taxes on income			2,170			1,207			317			-			1,403			5,097
	Provision for taxes on income			680			334			50			-			515			1,579
	Income from continuing operations			1,490			873			267			-			888			3,518
	Discontinued operations--net of tax			4,831			-			-			(4,831)			-			-
	Net income attributable to noncontrolling interests			6			-			-			-			-			6
	Net income attributable to Pfizer Inc.			6,315			873			267			(4,831)			888			3,512
	Earnings per common share attributable to Pfizer Inc.--diluted (d)			0.85			0.12			0.04			(0.65)			0.12			0.47
				Twelve Months Ended December 31, 2012
				GAAP Reported (1)			PurchaseAccountingAdjustments			Acquisition-RelatedCosts (2)			DiscontinuedOperations			CertainSignificantItems (3)			Non-GAAPAdjusted (a)
	Revenues		$	58,986		$	-		$	-		$	-		$	-		$	58,986
	Cost of sales (b)			11,334			(5)			(267)			-			(68)			10,994
	Selling, informational and administrative expenses (b)			16,616			13			(9)			-			(339)			16,281
	Research and development expenses (b)			7,870			3			(6)			-			(521)			7,346
	Amortization of intangible assets (c)			5,175			(4,973)			-			-			-			202
	Restructuring charges and certain acquisition-related costs			1,880			-			(685)			-			(1,195)			-
	Other deductions--net			4,031			5			-			-			(3,201)			835
	Income from continuing operations before provision for taxes on income			12,080			4,957			967			-			5,324			23,328
	Provision for taxes on income			2,562			1,359			211			-			2,692			6,824
	Income from continuing operations			9,518			3,598			756			-			2,632			16,504
	Discontinued operations--net of tax			5,080			-			-			(5,080)			-			-
	Net income attributable to noncontrolling interests			28			-			-			-			-			28
	Net income attributable to Pfizer Inc.			14,570			3,598			756			(5,080)			2,632			16,476
	Earnings per common share attributable to Pfizer Inc.--diluted (d)			1.94			0.48			0.10			(0.68)			0.35			2.19

	(a)	Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. Despite the importance of these measures to management in goal setting and performance measurement, Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are Non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP and, therefore, have limits in their usefulness to investors. Because of the non-standardized definitions, Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS (unlike U.S. GAAP net income and its components and diluted EPS) may not be comparable to the calculation of similar measures of other companies. Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are presented solely to permit investors to more fully understand how management assesses performance.
	(b)	Exclusive of amortization of intangible assets, except as discussed in footnote (c) below.
	(c)	Amortization expense related to acquired intangible assets that contribute to our ability to sell, manufacture, research, market and distribute products, compounds and intellectual property is included in Amortization of intangible assets as these intangible assets benefit multiple business functions. Amortization expense related to acquired intangible assets that are associated with a single function is included in Cost of sales, Selling, informational and administrative expensesor Research and development expenses, as appropriate.
	(d)	EPS amounts may not add due to rounding.
	See end of tables for notes (1), (2) and (3).
	Certain amounts may reflect rounding adjustments.

PFIZER INC. AND SUBSIDIARY COMPANIESRECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED INFORMATIONCERTAIN LINE ITEMS(UNAUDITED)(millions of dollars, except per common share data)
			Quarter Ended December 31, 2011
				GAAP Reported (1)				PurchaseAccountingAdjustments			Acquisition-RelatedCosts (2)			DiscontinuedOperations			Certain SignificantItems (3)			Non-GAAPAdjusted (a)
	Revenues		$	16,141			$	-		$	-		$	-		$	-		$	16,141
	Cost of sales (b)			3,627				(149)			(145)			-			(250)			3,083
	Selling, informational and administrative expenses (b)			5,197				(5)			(4)			-			(15)			5,173
	Research and development expenses (b)			2,587				2			(14)			-			(257)			2,318
	Amortization of intangible assets (c)			1,406				(1,353)			-			-			-			53
	Restructuring charges and certain acquisition-related costs			472				-			(360)			-			(112)			-
	Other deductions--net			697				(51)			-			-			(538)			108
	Income from continuing operations before provision for taxes on income			2,155				1,556			523			-			1,172			5,406
	Provision for taxes on income			742				408			202			-			261			1,613
	Income from continuing operations			1,413				1,148			321			-			911			3,793
	Discontinued operations--net of tax			35				-			-			(35)			-			-
	Net income attributable to noncontrolling interests			9				-			-			-			-			9
	Net income attributable to Pfizer Inc.			1,439				1,148			321			(35)			911			3,784
	Earnings per common share attributable to Pfizer Inc.--diluted (d)			0.19				0.15			0.04			-			0.12			0.49
				Twelve Months Ended December 31, 2011
				GAAP Reported (1)				PurchaseAccountingAdjustments			Acquisition-Related Costs (2)			DiscontinuedOperations			CertainSignificantItems (3)			Non-GAAPAdjusted (a)
	Revenues		$	65,259			$	-		$	-		$	-		$	-		$	65,259
	Cost of sales (b)			14,076				(1,230)			(555)			-			(257)			12,034
	Selling, informational and administrative expenses (b)			18,832				(11)			(45)			-			(54)			18,722
	Research and development expenses (b)			9,074				2			(23)			-			(655)			8,398
	Amortization of intangible assets (c)			5,544				(5,392)			-			-			-			152
	Restructuring charges and certain acquisition-related costs			2,930				-			(1,356)			-			(1,574)			-
	Other deductions--net			2,499				(122)			-			-			(1,807)			570
	Income from continuing operations before provision for taxes on income			12,304				6,753			1,979			-			4,347			25,383
	Provision for taxes on income			3,909				1,753			522			-			1,320			7,504
	Income from continuing operations			8,395				5,000			1,457			-			3,027			17,879
	Discontinued operations--net of tax			1,654				-			-			(1,654)			-			-
	Net income attributable to noncontrolling interests			40				-			-			-			-			40
	Net income attributable to Pfizer Inc.			10,009				5,000			1,457			(1,654)			3,027			17,839
	Earnings per common share attributable to Pfizer Inc.--diluted (d)			1.27				0.64			0.19			(0.21)			0.38			2.27

	(a)	Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. Despite the importance of these measures to management in goal setting and performance measurement, Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are Non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP and, therefore, have limits in their usefulness to investors. Because of the non-standardized definitions, Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS (unlike U.S. GAAP net income and its components and diluted EPS) may not be comparable to the calculation of similar measures of other companies. Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are presented solely to permit investors to more fully understand how management assesses performance.
	(b)	Exclusive of amortization of intangible assets, except as discussed in footnote (c) below.
	(c)	Amortization expense related to acquired intangible assets that contribute to our ability to sell, manufacture, research, market and distribute products, compounds and intellectual property is included in Amortization of intangible assets as these intangible assets benefit multiple business functions. Amortization expense related to acquired intangible assets that are associated with a single function is included in Cost of sales, Selling, informational and administrative expenses or Research and development expenses, as appropriate.
	(d)	EPS amounts may not add due to rounding.
	See end of tables for notes (1), (2) and (3).
	Certain amounts may reflect rounding adjustments.

PFIZER INC. AND SUBSIDIARY COMPANIESNOTES TO RECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED INFORMATIONCERTAIN LINE ITEMS*(UNAUDITED)
(1)		The financial statements present the three and twelve months ended December 31, 2012 and 2011. Subsidiaries operating outside the United States are included for the three and twelve months ended November 30, 2012 and 2011.
		On November 30, 2012, we completed the sale of our Nutrition business and recognized a gain of approximately $4.8 billion related to the sale of this business in Discontinued operations--net of tax for the three and twelve months ended December 31, 2012. The operating results of this business are reported as Discontinued operations--net of tax for all periods presented.
		On August 1, 2011, we completed the sale of our Capsugel business and recognized a gain of approximately $1.3 billion related to the sale of this business. The gain and the operating results of this business are reported as Discontinued operations--net of tax for the twelve months ended December 31, 2011.
		On January 31, 2011, we completed a tender offer for the outstanding shares of common stock of King Pharmaceuticals, Inc. (King) and, commencing from that date, our financial statements include the assets, liabilities, operating results and cash flows of King. As a result, and in accordance with our domestic and international reporting periods, our operating results for the twelve months ended December 31, 2011 reflect approximately eleven months of King’s U.S. operations and approximately ten months of King’s international operations.
(2)		Acquisition-related costs include the following:

								Fourth-Quarter								Full-Year
		(millions of dollars)							2012				2011				2012				2011
		Transaction costs (a)						$	-			$	2			$	1			$	30
		Integration costs (a)							110				163				405				725
		Restructuring charges (a)							152				195				279				601
		Additional depreciation -- asset restructuring (b)							55				163				282				623
		Total acquisition-related costs -- pre-tax							317				523				967				1,979
		Income taxes (c)							(50	)			(202	)			(211	)			(522	)
		Total acquisition-related costs -- net of tax						$	267			$	321			$	756			$	1,457

		(a)	Transaction costs represent external costs directly related to acquired businesses and primarily include expenditures for banking, legal, accounting and other similar services. Integration costs represent external, incremental costs directly related to integrating acquired businesses, and primarily include expenditures for consulting and the integration of systems and processes. Restructuring charges include employee termination costs, asset impairments and other exit costs associated with business combinations. All of these costs and charges are included in Restructuring charges and certain acquisition-related costs.
		(b)	Represents the impact of changes in the estimated useful lives of assets involved in restructuring actions related to acquisitions. Included in Cost of sales ($53 million), Selling, informational and administrative expenses ($1 million), and Research and development expenses ($1 million) for the three months ended December 31, 2012. Included in Cost of sales ($267 million), Selling, informational and administrative expenses ($9 million) and Research and development expenses ($6 million) for the twelve months ended December 31, 2012. Included in Cost of sales ($145 million), Selling, informational and administrative expenses ($4 million) and Research and development expenses ($14 million) for the three months ended December 31, 2011. Included in Cost of sales ($555 million), Selling, informational and administrative expenses ($45 million) and Research and development expenses ($23 million) for the twelve months ended December 31, 2011.
		(c)	Included in Provision for taxes on income.
(3)		Certain significant items include the following:

								Fourth-Quarter								Full-Year
		(millions of dollars)							2012				2011				2012				2011
		Restructuring charges (a)						$	529			$	112			$	1,195			$	1,574
		Implementation costs and additional depreciation -- asset restructuring (b)							207				522				693				959
		Certain legal matters (c)							208				165				2,191				822
		Certain asset impairment charges (d)							369				261				912				856
		Costs associated with the potential separation of Zoetis (e)							134				27				325				35
		Other							(44	)			85				8				101
		Total certain significant items -- pre-tax							1,403				1,172				5,324				4,347
		Income taxes (f)							(515	)			(261	)			(2,692	)			(1,320	)
		Total certain significant items -- net of tax						$	888			$	911			$	2,632			$	3,027

		(a)	Primarily related to our cost-reduction and productivity initiatives, included in Restructuring charges and certain acquisition-related costs.
		(b)	Primarily related to our cost-reduction and productivity initiatives. Included in Cost of sales ($8 million), Selling, informational and administrative expenses ($64 million) and Research and development expenses ($135 million) for the three months ended December 31, 2012. Included in Cost of sales ($31 million), Selling, informational and administrative expenses ($141 million) and Research and development expenses ($521 million) for the twelve months ended December 31, 2012. Included in Cost of sales ($250 million), Selling, informational and administrative expenses ($15 million) and Research and development expenses ($257 million) for the three months ended December 31, 2011. Included in Cost of sales ($250 million), Selling, informational and administrative expenses ($54 million) and Research and development expenses ($655 million) for the twelve months ended December 31, 2011.
		(c)	Included in Other deductions--net. In fourth-quarter 2012, primarily includes charges related to Chantix litigation. In full-year 2012, primarily includes a $491 million charge resulting from an agreement-in-principle with the U.S. Department of Justice to resolve an investigation into Wyeth’s historical promotional practices in connection with Rapamune, a $450 million settlement of a lawsuit by Brigham Young University related to Celebrex, and charges related to hormone-replacement therapy litigation and Chantix litigation. In 2011, primarily includes charges for hormone-replacement therapy litigation.
		(d)	Primarily included in Other deductions--net. In fourth-quarter and full-year 2012, primarily relates to certain intangible assets acquired in connection with our acquisitions of Wyeth and King, including in-process research and development (IPR&D) intangible assets. In fourth-quarter 2011, primarily relates to our indefinite-lived brand asset, Xanax, as a result of an increased competitive environment. In full-year 2011, substantially all relates to certain intangible assets acquired in connection with our acquisition of Wyeth, including IPR&D intangible assets, and our indefinite-lived brand asset, Xanax, as mentioned in the previous sentence.
		(e)	Costs incurred in connection with the potential initial public offering of up to a 19.8% ownership stake in Zoetis. Includes expenditures for banking, legal, accounting and similar services related to the potential transaction, as well as costs incurred associated with the potential separation of Zoetis employees, net assets and operations from Pfizer, such as consulting and systems costs. Included in Cost of sales ($6 million), Selling, informational and administrative expenses ($96 million) and Other deductions--net ($32 million) for the three months ended December 31, 2012. Included in Cost of sales ($6 million), Selling, informational and administrative expenses ($194 million) and Other deductions--net ($125 million) for the twelve months ended December 31, 2012. For the three and twelve months ended December 31, 2011, substantially all included in Other deductions--net.
		(f)	Included in Provision for taxes on income. Includes a settlement with the U.S. IRS related to audits for multiple tax years of $1.1 billion, representing tax and interest, for the twelve months ended December 31, 2012.
*		Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. Despite the importance of these measures to management in goal setting and performance measurement, Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are Non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP and, therefore, have limits in their usefulness to investors. Because of the non-standardized definitions, Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS (unlike U.S. GAAP net income and its components and diluted EPS) may not be comparable to the calculation of similar measures of other companies. Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are presented solely to permit investors to more fully understand how management assesses performance.

PFIZER INC.BUSINESS REVENUES (1)TWELVE MONTHS 2012 AND 2011(UNAUDITED)(millions of dollars)
			2012		2011	Change					Foreign Exchange		Operational
Primary Care		$	15,558	$	22,670	(31	%)				(1	%)	(30	%)
Specialty Care			14,151		15,245	(7	%)				(2	%)	(5	%)
Established Products			10,235		9,214	11	%				(2	%)	13	%
Emerging Markets			9,960		9,295	7	%				(5	%)	12	%
Oncology			1,310		1,323	(1	%)				(3	%)	2	%
Biopharmaceutical			51,214		57,747	(11	%)				(2	%)	(9	%)
Animal Health			4,299		4,184	3	%				(3	%)	6	%
Consumer Healthcare			3,212		3,028	6	%				(2	%)	8	%
Other			261		300	(13	%)				(1	%)	(12	%)
Total		$	58,986	$	65,259	(10	%)				(2	%)	(8	%)
(1) For a description of each business unit, see Note 13A to Pfizer's condensed consolidatedfinancial statements included in Pfizer's Form 10-Q for the fiscal quarter ended September 30, 2012.

PFIZER INC.ADJUSTED SELECTED COSTS AND EXPENSESTWELVE MONTHS 2012 AND 2011(UNAUDITED)
($ in millions)													Foreign
(Favorable)/Unfavorable		2012			2011			Change					Exchange		Operational
Adjusted Cost of Sales (1)		$	10,994		$	12,034		(9	%)				(4	%)	(5	%)
As a Percent of Revenues			18.6	%		18.4	%	N/A					N/A		N/A
Adjusted SI&A Expenses (1)			16,281			18,722		(13	%)				(2	%)	(11	%)
Adjusted R&D Expenses (1)			7,346			8,398		(13	%)				(1	%)	(12	%)
Total		$	34,621		$	39,154		(12	%)				(2	%)	(10	%)
(1) Adjusted cost of sales, Adjusted selling, informational and administrative (SI&A)expenses and Adjusted research and development (R&D) expenses are defined as the correspondingreported U.S. generally accepted accounting principles (GAAP) income statement line items excludingpurchase accounting adjustments, acquisition-related costs, discontinued operations and certainsignificant items. Reconciliations of certain GAAP reported to non-GAAP adjusted information forthe three and twelve months ended December 31, 2012 and 2011 are provided in the materialsaccompanying this report. These adjusted income statement line item measures are not, and shouldnot be viewed as, substitutes for the corresponding U.S. GAAP line items.

PFIZER INC. REVENUES FOURTH-QUARTER 2012 and 2011 (UNAUDITED) (millions of dollars)
		WORLDWIDE												UNITED STATES									TOTAL INTERNATIONAL (a)
								% Change												% Change									% Change
		2012			2011			Total			Oper.			2012			2011			Total			2012			2011			Total			Oper.
TOTAL REVENUES		$	15,068		$	16,141		(7	%)		(5	%)		$	5,783		$	6,328		(9	%)		$	9,285		$	9,813		(5	%)		(3	%)
REVENUES FROM BIOPHARMACEUTICAL PRODUCTS:		$	12,893		$	14,136		(9	%)		(7	%)		$	4,809		$	5,459		(12	%)		$	8,084		$	8,677		(7	%)		(4	%)
Lyrica			1,132			998		13	%		16	%			443			398		11	%			689			600		15	%		18	%
Lipitor (b)			584			1,999		(71	%)		(70	%)			61			816		(93	%)			523			1,183		(56	%)		(55	%)
Enbrel (Outside the U.S. and Canada)			957			925		3	%		8	%			-			-		-				957			925		3	%		8	%
Prevnar 13/Prevenar 13			993			834		19	%		22	%			464			395		17	%			529			439		21	%		25	%
Celebrex			750			667		12	%		13	%			479			418		15	%			271			249		9	%		11	%
Viagra			553			523		6	%		6	%			313			271		15	%			240			252		(5	%)		(3	%)
Norvasc			348			364		(4	%)		(3	%)			10			-		100	%			338			364		(7	%)		(7	%)
Zyvox			349			318		10	%		12	%			175			154		14	%			174			164		6	%		11	%
Sutent			323			317		2	%		5	%			82			89		(8	%)			241			228		6	%		10	%
Premarin family			276			256		8	%		8	%			253			232		9	%			23			24		(4	%)		1	%
Genotropin			213			235		(9	%)		(7	%)			54			61		(11	%)			159			174		(9	%)		(5	%)
Xalatan/Xalacom			189			290		(35	%)		(33	%)			8			17		(53	%)			181			273		(34	%)		(31	%)
BeneFIX			198			175		13	%		15	%			86			78		10	%			112			97		15	%		19	%
Detrol/Detrol LA			185			215		(14	%)		(13	%)			124			135		(8	%)			61			80		(24	%)		(22	%)
Vfend			211			189		12	%		16	%			25			22		14	%			186			167		11	%		18	%
Chantix/Champix			174			175		(1	%)		-				79			78		1	%			95			97		(2	%)		(2	%)
Pristiq			169			155		9	%		9	%			128			126		2	%			41			29		41	%		37	%
Refacto AF/Xyntha			164			126		30	%		33	%			27			22		23	%			137			104		32	%		34	%
Zoloft			143			153		(7	%)		(4	%)			19			17		12	%			124			136		(9	%)		(6	%)
Revatio			120			142		(15	%)		(14	%)			62			83		(25	%)			58			59		(2	%)		1	%
Medrol			135			127		6	%		8	%			35			36		(3	%)			100			91		10	%		13	%
Zosyn/Tazocin			106			146		(27	%)		(26	%)			42			77		(45	%)			64			69		(7	%)		(4	%)
Zithromax/Zmax			117			118		(1	%)		1	%			3			3		-				114			115		(1	%)		1	%
Effexor			83			141		(41	%)		(40	%)			7			35		(80	%)			76			106		(28	%)		(27	%)
Prevnar/Prevenar (7-valent)			96			82		17	%		13	%			-			-		-				96			82		17	%		13	%
Fragmin			98			99		(1	%)		-				6			11		(45	%)			92			88		5	%		6	%
Relpax			102			91		12	%		14	%			59			51		16	%			43			40		8	%		9	%
Rapamune			87			87		-			3	%			45			49		(8	%)			42			38		11	%		16	%
Cardura			84			91		(8	%)		(6	%)			1			1		-				83			90		(8	%)		(7	%)
Tygacil			86			74		16	%		17	%			37			36		3	%			49			38		29	%		33	%
Aricept (c)			77			115		(33	%)		(33	%)			-			-		-				77			115		(33	%)		(33	%)
Xanax XR			71			74		(4	%)		-				12			11		9	%			59			63		(6	%)		(2	%)
BMP2			71			63		13	%		12	%			71			63		13	%			-			-		-			-
Sulperazon			71			63		13	%		11	%			-			-		-				71			63		13	%		11	%
Diflucan			74			64		16	%		17	%			-			2		(100	%)			74			62		19	%		19	%
Caduet			67			103		(35	%)		(35	%)			7			37		(81	%)			60			66		(9	%)		(9	%)
Neurontin			63			67		(6	%)		(5	%)			11			12		(8	%)			52			55		(5	%)		(6	%)
Dalacin/Cleocin			56			53		6	%		8	%			18			14		29	%			38			39		(3	%)		4	%
Unasyn			63			59		7	%		8	%			-			2		(100	%)			63			57		11	%		11	%
Metaxalone/Skelaxin			74			58		28	%		29	%			74			58		28	%			-			-		-			-
Inspra			58			53		9	%		12	%			1			1		-				57			52		10	%		12	%
Toviaz			57			50		14	%		16	%			31			27		15	%			26			23		13	%		17	%
Somavert			55			50		10	%		14	%			13			12		8	%			42			38		11	%		15	%
Alliance revenues (d)			915			952		(4	%)		(3	%)			712			599		19	%			203			353		(42	%)		(42	%)
All other biopharmaceutical products (e)			2,096			2,200		(5	%)		(2	%)			732			910		(20	%)			1,364			1,290		6	%		11	%
All other established products (e)			1,565			1,464		7	%		9	%			532			496		7	%			1,033			968		7	%		11	%
REVENUES FROM OTHER PRODUCTS:
ANIMAL HEALTH		$	1,171		$	1,106		6	%		8	%		$	482		$	443		9	%		$	689		$	663		4	%		8	%
CONSUMER HEALTHCARE		$	936		$	810		16	%		17	%		$	472		$	403		17	%		$	464		$	407		14	%		16	%
OTHER (f)		$	68		$	89		(24	%)		(23	%)		$	20		$	23		(13	%)		$	48		$	66		(27	%)		(28	%)

(a)		Total International represents Developed Europe region + Developed Rest of World region + Emerging Markets region. Details for these regions are located on the following page.
(b)		Lipitor lost exclusivity in the U.S. in November 2011 and various other major markets in 2011 and 2012. This loss of exclusivity reduced branded worldwide revenues by $1.4 billion in the fourth quarter of 2012, in comparison with the fourth quarter of 2011.
(c)		Represents direct sales under license agreement with Eisai Co., Ltd.
(d)		Includes Enbrel (in the U.S. and Canada), Aricept, Exforge, Rebif and Spiriva.
(e)		Includes sales of generic atorvastatin. All other established products is a subset of All other biopharmaceutical products.
(f)		Includes revenues generated primarily from Pfizer CentreSource, our contract manufacturing and bulk pharmaceutical chemical sales organization.
Certain amounts and percentages may reflect rounding adjustments.

PFIZER INC. REVENUES DETAIL OF INTERNATIONAL REVENUES BY GEOGRAPHIC REGION FOURTH-QUARTER 2012 and 2011 (UNAUDITED) (millions of dollars)
		DEVELOPED EUROPE (a)												DEVELOPED REST OF WORLD (b)												EMERGING MARKETS (c)
								% Change												% Change												% Change
		2012			2011			Total			Oper.			2012			2011			Total			Oper.			2012			2011			Total			Oper.
TOTAL INTERNATIONAL REVENUES		$	3,350		$	4,022		(17	%)		(13	%)		$	2,724		$	3,002		(9	%)		(9	%)		$	3,211		$	2,789		15	%		18	%
REVENUES FROM BIOPHARMACEUTICAL PRODUCTS - INTERNATIONAL:		$	2,984		$	3,674		(19	%)		(15	%)		$	2,448		$	2,739		(11	%)		(10	%)		$	2,652		$	2,264		17	%		20	%
Lyrica			364			324		12	%		18	%			217			188		15	%		16	%			108			88		23	%		25	%
Lipitor (d)			107			596		(82	%)		(81	%)			201			360		(44	%)		(44	%)			215			227		(5	%)		(4	%)
Enbrel (Outside Canada)			627			629		-			4	%			104			133		(22	%)		(21	%)			226			163		39	%		45	%
Prevnar 13/Prevenar 13			208			199		5	%		9	%			65			70		(7	%)		(7	%)			256			170		51	%		58	%
Celebrex			40			48		(17	%)		(10	%)			138			124		11	%		11	%			93			77		21	%		23	%
Viagra			103			104		(1	%)		2	%			49			54		(9	%)		(9	%)			88			94		(6	%)		(5	%)
Norvasc			28			38		(26	%)		(21	%)			171			198		(14	%)		(13	%)			139			128		9	%		8	%
Zyvox			78			77		1	%		6	%			39			41		(5	%)		-				57			46		24	%		28	%
Sutent			114			115		(1	%)		4	%			48			47		2	%		2	%			79			66		20	%		24	%
Premarin family			3			2		50	%		-				9			10		(10	%)		11	%			11			12		(8	%)		-
Genotropin			71			89		(20	%)		(17	%)			58			59		(2	%)		-				30			26		15	%		23	%
Xalatan/Xalacom			55			124		(56	%)		(52	%)			79			99		(20	%)		(19	%)			47			50		(6	%)		(2	%)
BeneFIX			66			62		6	%		10	%			39			31		26	%		33	%			7			4		75	%		50	%
Detrol/Detrol LA			22			38		(42	%)		(39	%)			28			27		4	%		-				11			15		(27	%)		(14	%)
Vfend			78			78		-			5	%			44			45		(2	%)		10	%			64			44		45	%		51	%
Chantix/Champix			35			41		(15	%)		(12	%)			47			46		2	%		-				13			10		30	%		18	%
Pristiq			-			-		-			-				28			19		47	%		30	%			13			10		30	%		40	%
Refacto AF/Xyntha			99			95		4	%		7	%			20			8		150	%		122	%			18			1		*			*
Zoloft			15			20		(25	%)		(20	%)			71			84		(15	%)		(13	%)			38			32		19	%		19	%
Revatio			33			36		(8	%)		(3	%)			16			13		23	%		15	%			9			10		(10	%)		-
Medrol			24			25		(4	%)		4	%			12			13		(8	%)		-				64			53		21	%		23	%
Zosyn/Tazocin			11			14		(21	%)		(14	%)			2			3		(33	%)		-				51			52		(2	%)		-
Zithromax/Zmax			14			19		(26	%)		(22	%)			52			53		(2	%)		(2	%)			48			43		12	%		14	%
Effexor			26			40		(35	%)		(32	%)			22			41		(46	%)		(46	%)			28			25		12	%		16	%
Prevnar/Prevenar (7-valent)			-			1		(100	%)		-				88			81		9	%		12	%			8			-		100	%		60	%
Fragmin			47			46		2	%		7	%			26			20		30	%		10	%			19			22		(14	%)		(5	%)
Relpax			20			20		-			11	%			17			16		6	%		6	%			6			4		50	%		50	%
Rapamune			15			15		-			7	%			5			5		-			-				22			18		22	%		26	%
Cardura			25			25		-			-				32			39		(18	%)		(18	%)			26			26		-			-
Tygacil			17			15		13	%		20	%			2			2		-			-				30			21		43	%		36	%
Aricept (e)			17			58		(71	%)		(67	%)			51			45		13	%		9	%			9			12		(25	%)		(18	%)
Xanax XR			24			27		(11	%)		(7	%)			11			14		(21	%)		(8	%)			24			22		9	%		9	%
BMP2			-			-		-			-				-			-		-			-				-			-		-			-
Sulperazon			-			-		-			-				9			10		(10	%)		(9	%)			62			53		17	%		15	%
Diflucan			13			21		(38	%)		(33	%)			11			12		(8	%)		(15	%)			50			29		72	%		72	%
Caduet			4			5		(20	%)		(20	%)			41			46		(11	%)		(11	%)			15			15		-			7	%
Neurontin			13			18		(28	%)		(26	%)			14			15		(7	%)		(20	%)			25			22		14	%		14	%
Dalacin/Cleocin			9			9		-			-				5			8		(38	%)		(14	%)			24			22		9	%		9	%
Unasyn			12			8		50	%		63	%			21			20		5	%		-				30			29		3	%		7	%
Metaxalone/Skelaxin			-			-		-			-				-			-		-			-				-			-		-			-
Inspra			35			34		3	%		9	%			17			14		21	%		13	%			5			4		25	%		25	%
Toviaz			22			19		16	%		21	%			1			1		-			-				3			3		-			50	%
Somavert			34			32		6	%		13	%			5			3		67	%		25	%			3			3		-			-
Alliance revenues (f)			38			103		(63	%)		(60	%)			151			228		(34	%)		(34	%)			14			22		(36	%)		(29	%)
All other biopharmaceutical products (g)			418			405		3	%		9	%			382			394		(3	%)		2	%			564			491		15	%		19	%
All other established products (g)			281			290		(3	%)		2	%			265			288		(8	%)		(7	%)			487			390		25	%		30	%
REVENUES FROM OTHER PRODUCTS - INTERNATIONAL:		$	366		$	348		5	%		9	%		$	276		$	263		5	%		3	%		$	559		$	525		6	%		11	%

* Calculation not meaningful.
(a)		Developed Europe region includes the following markets: Western Europe, Finland and the Scandinavian countries.
(b)		Developed Rest of World region includes the following markets: Australia, Canada, Japan, New Zealand and South Korea.
(c)		Emerging Markets region includes, but is not limited to, the following markets: Asia (excluding Japan and South Korea), Latin America, Middle East, Africa, Central and Eastern Europe and Turkey.
(d)		Lipitor lost exclusivity in various international markets in 2011 and 2012. This loss of exclusivity reduced branded international revenues by $636 million in the fourth quarter of 2012, in comparison with the fourth quarter of 2011.
(e)		Represents direct sales under license agreement with Eisai Co., Ltd.
(f)		Includes Enbrel (in Canada), Aricept, Exforge, Rebif and Spiriva.
(g)		Includes sales of generic atorvastatin. All other established products is a subset of All other biopharmaceutical products.
Certain amounts and percentages may reflect rounding adjustments.

PFIZER INC. REVENUES TWELVE MONTHS 2012 and 2011 (UNAUDITED) (millions of dollars)
		WORLDWIDE												UNITED STATES									TOTAL INTERNATIONAL (a)
								% Change												% Change									% Change
		2012				2011		Total			Oper.			2012				2011		Total			2012				2011		Total			Oper.
TOTAL REVENUES		$	58,986		$	65,259		(10	%)		(8	%)		$	23,086		$	26,933		(14	%)		$	35,900		$	38,326		(6	%)		(2	%)
REVENUES FROM BIOPHARMACEUTICAL PRODUCTS:		$	51,214		$	57,747		(11	%)		(9	%)		$	19,708		$	23,707		(17	%)		$	31,506		$	34,040		(7	%)		(4	%)
Lyrica			4,158			3,693		13	%		16	%			1,672			1,514		10	%			2,486			2,179		14	%		19	%
Lipitor (b)			3,948			9,577		(59	%)		(58	%)			932			5,003		(81	%)			3,016			4,574		(34	%)		(33	%)
Enbrel (Outside the U.S. and Canada)			3,737			3,666		2	%		8	%			-			-		-				3,737			3,666		2	%		8	%
Prevnar 13/Prevenar 13			3,718			3,657		2	%		4	%			1,887			1,928		(2	%)			1,831			1,729		6	%		10	%
Celebrex			2,719			2,523		8	%		9	%			1,745			1,597		9	%			974			926		5	%		8	%
Viagra			2,051			1,981		4	%		5	%			1,135			1,003		13	%			916			978		(6	%)		(3	%)
Norvasc			1,349			1,445		(7	%)		(6	%)			48			23		109	%			1,301			1,422		(9	%)		(8	%)
Zyvox			1,345			1,283		5	%		8	%			665			640		4	%			680			643		6	%		11	%
Sutent			1,236			1,187		4	%		9	%			337			307		10	%			899			880		2	%		8	%
Premarin family			1,073			1,013		6	%		7	%			977			915		7	%			96			98		(2	%)		5	%
Genotropin			832			889		(6	%)		(4	%)			204			205		-				628			684		(8	%)		(4	%)
Xalatan/Xalacom			806			1,250		(36	%)		(33	%)			38			176		(78	%)			768			1,074		(28	%)		(26	%)
BeneFIX			775			693		12	%		14	%			358			301		19	%			417			392		6	%		11	%
Detrol/Detrol LA			761			883		(14	%)		(13	%)			486			557		(13	%)			275			326		(16	%)		(13	%)
Vfend			754			747		1	%		5	%			89			86		3	%			665			661		1	%		5	%
Chantix/Champix			670			720		(7	%)		(6	%)			313			326		(4	%)			357			394		(9	%)		(7	%)
Pristiq			630			577		9	%		10	%			493			474		4	%			137			103		33	%		37	%
Refacto AF/Xyntha			584			506		15	%		20	%			106			97		9	%			478			409		17	%		23	%
Zoloft			541			573		(6	%)		(4	%)			68			63		8	%			473			510		(7	%)		(5	%)
Revatio			534			535		-			2	%			312			312		-				222			223		-			5	%
Medrol			523			510		3	%		5	%			140			152		(8	%)			383			358		7	%		10	%
Zosyn/Tazocin			484			636		(24	%)		(22	%)			217			344		(37	%)			267			292		(9	%)		(5	%)
Zithromax/Zmax			435			453		(4	%)		(3	%)			12			20		(40	%)			423			433		(2	%)		(1	%)
Effexor			425			678		(37	%)		(35	%)			109			242		(55	%)			316			436		(28	%)		(24	%)
Prevnar/Prevenar (7-valent)			399			488		(18	%)		(16	%)			-			-		-				399			488		(18	%)		(16	%)
Fragmin			381			382		-			4	%			42			43		(2	%)			339			339		-			5	%
Relpax			368			341		8	%		10	%			219			193		13	%			149			148		1	%		5	%
Rapamune			346			372		(7	%)		(4	%)			185			188		(2	%)			161			184		(13	%)		(7	%)
Cardura			338			380		(11	%)		(9	%)			5			5		-				333			375		(11	%)		(9	%)
Tygacil			335			298		12	%		16	%			152			148		3	%			183			150		22	%		30	%
Aricept (c)			326			450		(28	%)		(25	%)			-			-		-				326			450		(28	%)		(25	%)
Xanax XR			274			306		(10	%)		(5	%)			50			52		(4	%)			224			254		(12	%)		(6	%)
BMP2			263			340		(23	%)		(23	%)			263			323		(19	%)			-			17		(100	%)		(98	%)
Sulperazon			262			218		20	%		19	%			-			-		-				262			218		20	%		19	%
Diflucan			259			265		(2	%)		1	%			4			5		(20	%)			255			260		(2	%)		1	%
Caduet			258			538		(52	%)		(52	%)			33			272		(88	%)			225			266		(15	%)		(14	%)
Neurontin			235			289		(19	%)		(16	%)			48			63		(24	%)			187			226		(17	%)		(14	%)
Dalacin/Cleocin			232			192		21	%		24	%			90			49		84	%			142			143		(1	%)		4	%
Unasyn			228			231		(1	%)		-				2			6		(67	%)			226			225		-			2	%
Metaxalone/Skelaxin (d)			223			203		10	%		10	%			223			203		10	%			-			-		-			-
Inspra			214			195		10	%		15	%			5			4		25	%			209			191		9	%		15	%
Toviaz			207			187		11	%		14	%			113			99		14	%			94			88		7	%		13	%
Somavert			197			183		8	%		14	%			46			39		18	%			151			144		5	%		13	%
Alliance revenues (e)			3,492			3,630		(4	%)		(3	%)			2,620			2,227		18	%			872			1,403		(38	%)		(37	%)
All other biopharmaceutical products (f)			8,289			8,584		(3	%)		(1	%)			3,265			3,503		(7	%)			5,024			5,081		(1	%)		4	%
All other established products (f)			6,074			5,671		7	%		10	%			2,165			1,783		21	%			3,909			3,888		1	%		5	%
REVENUES FROM OTHER PRODUCTS:
ANIMAL HEALTH		$	4,299		$	4,184		3	%		6	%		$	1,771		$	1,648		7	%		$	2,528		$	2,536		-			5	%
CONSUMER HEALTHCARE		$	3,212		$	3,028		6	%		8	%		$	1,526		$	1,490		2	%		$	1,686		$	1,538		10	%		13	%
OTHER (g)		$	261		$	300		(13	%)		(12	%)		$	81		$	88		(8	%)		$	180		$	212		(15	%)		(13	%)

(a)		Total International represents Developed Europe region + Developed Rest of World region + Emerging Markets region. Details for these regions are located on the following page.
(b)		Lipitor lost exclusivity in the U.S. in November 2011 and various other major markets in 2011 and 2012. This loss of exclusivity reduced branded worldwide revenues by $5.6 billion in 2012, in comparison with 2011.
(c)		Represents direct sales under license agreement with Eisai Co., Ltd.
(d)		Legacy King product. King's operations are included in our financial statements commencing from the acquisition date of January 31, 2011.
(e)		Includes Enbrel (in the U.S. and Canada), Aricept, Exforge, Rebif and Spiriva.
(f)		Includes sales of generic atorvastatin. All other established products is a subset of All other biopharmaceutical products.
(g)		Includes revenues generated primarily from Pfizer CentreSource, our contract manufacturing and bulk pharmaceutical chemical sales organization.
Certain amounts and percentages may reflect rounding adjustments.

PFIZER INC. REVENUES DETAIL OF INTERNATIONAL REVENUES BY GEOGRAPHIC REGION TWELVE MONTHS 2012 and 2011 (UNAUDITED) (millions of dollars)
		DEVELOPED EUROPE (a)												DEVELOPED REST OF WORLD (b)												EMERGING MARKETS (c)
								% Change												% Change												% Change
		2012				2011		Total			Oper.			2012				2011		Total			Oper.			2012				2011		Total			Oper.
TOTAL INTERNATIONAL REVENUES		$	13,375		$	16,099		(17	%)		(11	%)		$	10,554		$	10,975		(4	%)		(4	%)		$	11,971		$	11,252		6	%		12	%
REVENUES FROM BIOPHARMACEUTICAL PRODUCTS - INTERNATIONAL:		$	12,010		$	14,737		(19	%)		(13	%)		$	9,536		$	10,008		(5	%)		(5	%)		$	9,960		$	9,295		7	%		12	%
Lyrica			1,319			1,255		5	%		12	%			743			569		31	%		31	%			424			355		19	%		26	%
Lipitor (d)			1,149			2,400		(52	%)		(50	%)			978			1,315		(26	%)		(26	%)			889			859		3	%		5	%
Enbrel (Outside Canada)			2,318			2,387		(3	%)		4	%			555			524		6	%		5	%			864			755		14	%		23	%
Prevnar 13/Prevenar 13			704			744		(5	%)		1	%			266			241		10	%		11	%			861			744		16	%		18	%
Celebrex			161			182		(12	%)		(4	%)			479			431		11	%		12	%			334			313		7	%		11	%
Viagra			370			400		(8	%)		(3	%)			201			212		(5	%)		(4	%)			345			366		(6	%)		(2	%)
Norvasc			119			165		(28	%)		(22	%)			659			773		(15	%)		(16	%)			523			484		8	%		9	%
Zyvox			302			306		(1	%)		6	%			154			149		3	%		4	%			224			188		19	%		26	%
Sutent			439			468		(6	%)		1	%			176			169		4	%		4	%			284			243		17	%		26	%
Premarin family			10			10		-			-				36			34		6	%		9	%			50			54		(7	%)		2	%
Genotropin			295			356		(17	%)		(12	%)			224			221		1	%		-				109			107		2	%		8	%
Xalatan/Xalacom			275			509		(46	%)		(42	%)			311			369		(16	%)		(16	%)			182			196		(7	%)		-
BeneFIX			248			255		(3	%)		4	%			137			113		21	%		21	%			32			24		33	%		33	%
Detrol/Detrol LA			119			157		(24	%)		(21	%)			102			109		(6	%)		(6	%)			54			60		(10	%)		(3	%)
Vfend			281			304		(8	%)		(1	%)			162			153		6	%		5	%			222			204		9	%		14	%
Chantix/Champix			129			175		(26	%)		(23	%)			179			170		5	%		5	%			49			49		-			8	%
Pristiq			-			-		-			-				90			67		34	%		32	%			47			36		31	%		42	%
Refacto AF/Xyntha			373			374		-			6	%			64			33		94	%		94	%			41			2		*			*
Zoloft			59			81		(27	%)		(22	%)			278			301		(8	%)		(8	%)			136			128		6	%		11	%
Revatio			133			141		(6	%)		1	%			56			47		19	%		17	%			33			35		(6	%)		6	%
Medrol			94			103		(9	%)		(2	%)			48			48		-			-				241			207		16	%		19	%
Zosyn/Tazocin			48			63		(24	%)		(17	%)			13			14		(7	%)		(7	%)			206			215		(4	%)		(1	%)
Zithromax/Zmax			59			80		(26	%)		(21	%)			186			184		1	%		(1	%)			178			169		5	%		7	%
Effexor			110			181		(39	%)		(35	%)			102			155		(34	%)		(34	%)			104			100		4	%		9	%
Prevnar/Prevenar (7-valent)			-			23		(100	%)		(100	%)			346			358		(3	%)		(5	%)			53			107		(50	%)		(39	%)
Fragmin			182			178		2	%		8	%			84			77		9	%		9	%			73			84		(13	%)		(6	%)
Relpax			70			76		(8	%)		(1	%)			60			56		7	%		9	%			19			16		19	%		25	%
Rapamune			54			60		(10	%)		(3	%)			18			18		-			-				89			106		(16	%)		(8	%)
Cardura			97			119		(18	%)		(13	%)			134			155		(14	%)		(14	%)			102			101		1	%		6	%
Tygacil			67			64		5	%		14	%			7			6		17	%		17	%			109			80		36	%		44	%
Aricept (e)			110			229		(52	%)		(49	%)			177			170		4	%		6	%			39			51		(24	%)		(18	%)
Xanax XR			89			107		(17	%)		(10	%)			44			50		(12	%)		(10	%)			91			97		(6	%)		2	%
BMP2			-			17		(100	%)		(100	%)			-			-		-			-				-			-		-			-
Sulperazon			-			-		-			-				36			42		(14	%)		(16	%)			226			176		28	%		27	%
Diflucan			60			80		(25	%)		(19	%)			41			47		(13	%)		(13	%)			154			133		16	%		18	%
Caduet			14			18		(22	%)		(17	%)			149			189		(21	%)		(22	%)			62			59		5	%		8	%
Neurontin			58			76		(24	%)		(18	%)			45			57		(21	%)		(23	%)			84			93		(10	%)		(5	%)
Dalacin/Cleocin			32			35		(9	%)		(3	%)			26			27		(4	%)		-				84			81		4	%		10	%
Unasyn			39			34		15	%		24	%			76			81		(6	%)		(9	%)			111			110		1	%		3	%
Metaxalone/Skelaxin (f)			-			-		-			-				-			-		-			-				-			-		-			-
Inspra			131			126		4	%		12	%			61			51		20	%		18	%			17			14		21	%		29	%
Toviaz			76			71		7	%		14	%			8			8		-			13	%			10			9		11	%		11	%
Somavert			123			121		2	%		10	%			17			14		21	%		23	%			11			9		22	%		33	%
Alliance revenues (g)			242			536		(55	%)		(52	%)			565			785		(28	%)		(29	%)			65			82		(21	%)		(12	%)
All other biopharmaceutical products (h)			1,452			1,671		(13	%)		(7	%)			1,443			1,416		2	%		2	%			2,129			1,994		7	%		14	%
All other established products (h)			1,050			1,173		(10	%)		(4	%)			1,051			1,094		(4	%)		(4	%)			1,808			1,621		12	%		19	%
REVENUES FROM OTHER PRODUCTS - INTERNATIONAL:		$	1,365		$	1,362		-			7	%		$	1,018		$	967		5	%		6	%		$	2,011		$	1,957		3	%		8	%

* Calculation not meaningful.
(a)		Developed Europe region includes the following markets: Western Europe, Finland and the Scandinavian countries.
(b)		Developed Rest of World region includes the following markets: Australia, Canada, Japan, New Zealand and South Korea.
(c)		Emerging Markets region includes, but is not limited to, the following markets: Asia (excluding Japan and South Korea), Latin America, Middle East, Africa, Central and Eastern Europe and Turkey.
(d)		Lipitor lost exclusivity in various international markets in 2011 and 2012. This loss of exclusivity reduced branded international revenues by $1.6 billion in 2012, in comparison with 2011.
(e)		Represents direct sales under license agreement with Eisai Co., Ltd.
(f)		Legacy King product. King's operations are included in our financial statements commencing from the acquisition date of January 31, 2011.
(g)		Includes Enbrel (in Canada), Aricept, Exforge, Rebif and Spiriva.
(h)		Includes sales of generic atorvastatin. All other established products is a subset of All other biopharmaceutical products.
Certain amounts and percentages may reflect rounding adjustments.

PFIZER INC. SUPPLEMENTAL INFORMATION

1. Change in Reported Cost of Sales

Reported cost of sales decreased 13% in the fourth quarter and 19% in full-year 2012, compared to the same periods in 2011. The decreases were primarily due to lower purchase accounting adjustments in 2012, lower costs related to our cost-reduction and productivity initiatives and acquisition-related costs, as well as the benefits generated from the ongoing productivity initiatives to streamline the manufacturing network. Additionally, the decreases were due to reduced manufacturing volumes related to products that lost exclusivity in various markets. The decreases were partially offset by the unfavorable impact of a shift in geographic, business and product mix for both periods. In addition, reported cost of sales in fourth-quarter 2012 reflects the unfavorable impact of foreign exchange of 7%, while reported cost of sales in full-year 2012 reflects the favorable impact of foreign exchange of 3%.

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