Skip to Content
Morningstar
Get 14 Days Free

Pfizer Inc PFE

Morningstar Rating
Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Waiving Vaccine IP Does Not Impact Our Assessment of Potential $70 Billion 2021 COVID-19 Market

Karen Andersen, CFA Sector Strategist

Analyst Note

| Karen Andersen, CFA |

We're not making changes to our fair value estimates or moat ratings for COVID-19 vaccine firms following the May 5 announcement that the Biden administration supports a proposed waiver on intellectual property protection for COVID-19 vaccines. The proposal to waive patent rights during the pandemic was initially made to the World Trade Organization by India and South Africa in October. With the pandemic raging in India and Brazil, calls to support this proposal have strengthened, and U.S., Europe, and U.K. opposition has become a potential political liability. It could take months to finalize the proposal, and Europe and U.K. have yet to support the waiver.

Read Full Analysis

Company Profile

Business Description

Pfizer is one of the world's largest pharmaceutical firms, with annual sales close to $50 billion. Pfizer also spends a leading amount on research and development, close to $8 billion annually. While Pfizer historically sold many types of healthcare products and chemicals, now, prescription drugs and vaccines account for the majority of sales. Top sellers include pneumococcal vaccine Prevnar 13, cancer drug Ibrance, cardiovascular treatment Eliquis, and immunology drug Xeljanz. Pfizer sells these products globally, with international sales representing close to 50% of its total sales. Within international sales, emerging markets are a major contributor.

Contact
235 East 42nd Street
New York, NY, 10017
T +1 212 733-2323
Sector Healthcare
Industry Drug Manufacturers - General
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2021
Stock Type High Yield
Employees 78,500

Related

Sustainability Matters
Hints of Sea Change in Big Fund Company ESG Proxy Votes
At midseason for 2021 proxy votes, signs of a jump in support.
Jackie Cook
Our Picks
10 Superior Dividend Stocks
These stocks are good choices whether you're looking for dividend growth, down-market defense, or inflation protection.
Susan Dziubinski
Stock Analyst Update
Waiving Vaccine IP Doesn't Affect Market Assessment
Following the news the Biden administration supports a proposed waiver on intellectual property protection for COVID-19 vaccines, we are not changing our FVEs to COVID-19 vaccine firms.
Karen Andersen
Stock Strategist Industry Reports
Moderna Dominates COVID-19 Vaccine Manufacturers, at Least for Now
The global COVID-19 vaccine market is currently dominated by mRNA firms, but competitors are gaining strength.
Karen Andersen
Stock Analyst Update
Pfizer Posts Strong Q1 Buoyed by COVID-19 Sales
We expect sales will fall substantially after 2022, limiting the impact on our valuation.
Damien Conover
Stock Strategist Industry Reports
U.S. Herd Immunity Could Be Coming by End of June
Limited vaccine supply in other countries could make global immunity tougher to achieve, though.
Karen Andersen
Stock Strategist
Moderna's Innovation Still Building a Moat
The company's COVID-19 vaccine has shown the vast potential of its mRNA technology.
Karen Andersen
US Videos
3 Overlooked Dividend Stocks That Top Managers Like
These wide-moat firms are currently undervalued.
Morningstar
Stock Analyst Update
BioNTech Reports Solid Fourth-Quarter Results
We intend to modestly raise our fair value estimate based on this near-term strength as its COVID-19 vaccine was the highlight of the quarter.
Damien Conover
Fund Spy
How the Biggest and Best Funds Fared After the Crash
A look at how some notable U.S. equity funds have navigated the market's style and size reversals over the past year.
Alec Lucas
Investing Specialists
Our Ultimate Stock-Pickers' Top 10 Dividend-Yielding Stocks
A majority of the top 10 dividend-yielding names are undervalued.
Malik Ahmed Khan
Special Report
Special Report: Investing in Strange Times
We reflect on lessons learned--and reaffirmed--over the past year of investing amid market uncertainty.
Jerry Kerns
Market Update
These Sectors Performed Best and Worst in the Pandemic
We look at the industries for those most affected by social-distancing and stay-at-home orders.
Sachin Nagarajan
Our Picks
3 Warren Buffett Stocks to Buy
These undervalued stocks are among the top holdings in Berkshire Hathaway today.
Susan Dziubinski
Our Picks
5 Undervalued Dividend-Growth Stocks
These heavily weighted names in the Morningstar US Dividend Growth Index are all at least 10% undervalued.
Susan Dziubinski
Stock Analyst Update
Pfizer Vaccine Shows Promise for Huge Near-Term Growth
The wide-moat company posted a solid fourth quarter. We continue to view the stock as undervalued.
Damien Conover
Stock Analyst Update
J&J Releases COVID-19 Vaccine Data
The data doesn't significantly alter our valuation or U.S. herd immunity forecast.
Karen Andersen
Commentary
The Week Ahead: Google, Amazon, and Pfizer to Report Earnings
Other big names in the energy and healthcare sectors are on the calendar for the week ahead as well.
Carole Hodorowicz
Stock Strategist Industry Reports
COVID-19 Sales Have No Major Impact on Drug and Vaccine Manufacturers We Cover
However, the biopharma industry's ability to adapt and innovate to treat disease reinforces our moat ratings.
Karen Andersen
Stock Strategist Industry Reports
COVID-19 Vaccine Distribution and Herd Immunity to End Pandemic
Successful vaccine development and rollout will boost industry goodwill and reduce ESG risk, but we’re keeping our valuations steady.
Karen Andersen