Pfizer is a global biopharmaceutical company that discovers, develops, manufactures, and sells patented medicines and vaccines across oncology, cardiovascular/rare disease, vaccines, migraine, and inflammation & immunology. Pfizer's most significant products include Vyndaqel (for a progressive heart condition called ATTR-CM), Eliquis (an anticoagulant co-commercialized with BMS), the Prevnar pneumococcal vaccine family, Paxlovid (oral COVID-19 antiviral), Comirnaty (COVID-19 mRNA vaccine, co-developed with BioNTech on a 50/50 profit split), and Padcev (a bladder cancer treatment co-commercialized with Astellas). Pfizer sells prescription products primarily through drug wholesalers, and vaccines through government institutions and retail pharmacies. Pfizer earns outsized margins during a product's patent-protected period, but faces severe revenue declines when small-molecule drugs lose exclusivity and generics enter. Key headwinds include a steep loss-of-exclusivity cycle from 2026–2028 affecting Eliquis, Vyndaqel, Ibrance, and Xtandi, compounded by IRA-mandated Medicare price negotiations. To offset these pressures, Pfizer is building an oncology pipeline anchored by its $43B Seagen acquisition, entering the obesity market via a monthly injectable GLP-1 platform (targeting approvals in 2028), and executing a cost reduction program targeting ~$7.7B in cumulative savings by end of 2027.