Pfizer (PFE) Research & Development (2009 - 2026)
Pfizer (PFE) recorded Research & Development of $2.81 billion in Q2 2026, up 13.2% from $2.48 billion a year earlier and up 12.8% from the prior quarter.
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Analysis
Pfizer (PFE) Research & Development (2009 - 2026) Analysis & Trends
On a TTM basis, Pfizer's Research & Development came in at $11.05 billion as of Jun 28, 2026, up 7.1% year-over-year; for FY2025, it came in at $10.44 billion, down 3.6% from FY2024.
- Annual Research & Development has a five-year compound annual growth rate of 3.7% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $10.82 billion in FY2024 (+1.3%), $10.68 billion in FY2023 (-6.6%), $11.43 billion in FY2022 (+10.3%) and $10.36 billion in FY2021 (+19.0%).
- Quarterly Research & Development has ranged from $2.2 billion in Q1 2025 to $3.62 billion in Q4 2022 over the past five years.
- On a year-over-year basis, Research & Development has increased for three consecutive quarters, with growth averaging 2.6% over the last seven quarters.
- Peak year-over-year performance for Research & Development in the last five years was growth of 29.6% in Q4 2021, against a decline of 22.1% in Q4 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $2.49 billion (Q1 2026), $3.21 billion (Q4 2025) and $2.55 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 645.01 Bn | 563.54 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 465.23 Bn | 438.39 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 368.40 Bn | 322.83 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 278.02 Bn | 233.89 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 254.57 Bn | 228.13 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 229.02 Bn | 184.42 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 187.74 Bn | 161.85 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 133.45 Bn | 105.45 Bn | 2.84 Bn | 993.80 Mn |
| 10 | Bristol Myers Squibb | 128.45 Bn | 79.72 Bn | 9.25 Bn | 2.96 Bn |
Historic Data
Download Data
Historic 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 |
| Dec 31, 2024 | 3.04 Bn |
| Sep 29, 2024 | 2.60 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 |
| Dec 31, 2022 | 3.62 Bn |
| Jul 3, 2022 | 2.82 Bn |
| Apr 3, 2022 | 2.30 Bn |
| Dec 31, 2021 | 3.45 Bn |
| Oct 3, 2021 | 2.68 Bn |
| Jul 4, 2021 | 2.24 Bn |
| Apr 4, 2021 | 1.99 Bn |
API Access
Pfizer Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=PFE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "PFE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=PFE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();