Pfizer (PFE) Research & Development (2009 - 2026)
Pfizer (PFE) posted quarterly Research & Development of $2.5 billion for Q1 2026, up 13.03% year-over-year from $2.2 billion in Q1 2025, and down 22.33% quarter-over-quarter from $3.2 billion in Q4 2025.
Pfizer (PFE) Research & Development (2009 - 2026) Analysis & Trends
Pfizer (PFE) has reported Research & Development for 18 consecutive years, with $2.5 billion the latest figure, recorded in Q1 2026.
- In Q1 2026, Research & Development rose 13.03% year-over-year to $2.5 billion; the TTM figure through Mar 2026 stood at $10.7 billion (down 29.35% YoY), while the FY2025 annual figure was $10.4 billion, down 3.56% from the prior year.
- Research & Development fell to $2.5 billion in Q1 2026 per PFE's latest filing, from $3.2 billion in the prior quarter.
- Across five years, Research & Development topped out at $7.8 billion in Q3 2024 and bottomed at $2.2 billion in Q1 2025.
- Historically, Research & Development has averaged $3.0 billion across 5 years, with a median of $2.5 billion in 2025.
- Annual changes were most pronounced in 2022 — Research & Development climbed 25.73% — and 2025, when it tumbled 67.3%.
- Pfizer's Research & Development stood at $2.8 billion in 2022, then changed by 0.0% to $2.8 billion in 2023, then surged by 176.63% to $7.8 billion in 2024, then sank by 58.83% to $3.2 billion in 2025, then slipped by 22.33% to $2.5 billion in 2026.
- Business Quant data shows PFE's Research & Development at $2.5 billion in Q1 2026, $3.2 billion in Q4 2025, and $2.5 billion in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 645.88 Bn | 625.12 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 463.46 Bn | 456.89 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 367.92 Bn | 360.78 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 297.71 Bn | 290.02 Bn | 11.24 Bn | 2.85 Bn |
| 5 | Astrazeneca | 255.55 Bn | 250.65 Bn | 12.86 Bn | 4.05 Bn |
| 6 | Amgen | 234.52 Bn | 220.53 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 178.22 Bn | 175.04 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 158.57 Bn | 146.88 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Gsk | 105.32 Bn | 101.15 Bn | 8.24 Bn | -4.65 Bn |
| 10 | Sanofi | 54.20 Bn | 46.82 Bn | 10.79 Bn | -2.60 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 28, 2026 | 2.81 Bn |
| Mar 29, 2026 | 2.49 Bn |
| Dec 31, 2025 | 3.21 Bn |
| Sep 28, 2025 | 2.55 Bn |
| Jun 29, 2025 | 2.48 Bn |
| Mar 30, 2025 | 2.20 Bn |
| Sep 29, 2024 | 7.79 Bn |
| Jun 30, 2024 | 2.70 Bn |
| Mar 31, 2024 | 2.49 Bn |
| Dec 31, 2023 | 2.82 Bn |
| Jul 2, 2023 | 2.65 Bn |
| Apr 2, 2023 | 2.51 Bn |
| Jul 3, 2022 | 2.82 Bn |
| Apr 3, 2022 | 2.30 Bn |
| Oct 3, 2021 | 6.91 Bn |
| Jul 4, 2021 | 2.24 Bn |
| Apr 4, 2021 | 1.99 Bn |
| Sep 27, 2020 | 6.05 Bn |
| Jun 28, 2020 | 2.08 Bn |
| Mar 29, 2020 | 1.67 Bn |