Pfizer Inc. (PFE) Presents at TD Cowen 46th Annual Health Care Conference Transcript

SA Transcripts158.74K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Pfizer Inc. (PFE) TD Cowen 46th Annual Health Care Conference March 2, 2026 10:30 AM EST Company Participants Albert Bourla - Chairman of the Board & CEO Conference Call Participants Steve Scala - TD Cowen, Research Division Presentation Steve ScalaTD Cowen, Research Division Well, good morning once again, and welcome to TD Cowen's 46th Annual Healthcare Conference. We're delighted to have you here. We're especially delighted to welcome Pfizer back to the conference this year and representing the company, Albert Bourla, who is Chairman and CEO. So Albert, thank you so much for making the journey. Albert BourlaChairman of the Board & CEO Great pleasure. Question-and-Answer Session Steve ScalaTD Cowen, Research Division Lots to talk about, so much going on internally to Pfizer, but also in the external environment. So I'd like to start out with the external environment. Albert, you were front and center through the whole process of negotiating deals with President Trump. You were the first person to be in the White House to sign the deal. What surprised you most about that process and the outcome for Pfizer relative to the deal? Albert BourlaChairman of the Board & CEO What surprised me the most, it is the competence of the people on the other side of the table, which I didn't expect. Those are people from Medicare, basically, and under all this department, and they were like talking to a business partner. They knew their stuff. They were very pragmatic. They could find solutions. And usually you expect from government negotiators to be the opposite of that. So I think that was very, very surprising. Eventually, I think we did absolutely the right thing, and that was rewarded by the market and that, of course, 16 other companies followed and now there are 17 companies. I think