Pfizer 2009 Annual Report Download - page 41

Financial Review
Pfizer Inc. and Subsidiary Companies
financial markets provide sufficient capability for us to pay current and future dividends. While the dividend level remains a decision
of Pfizer’s Board of Directors and will continue to be evaluated in the context of future business performance, we currently believe
that we can support future annual dividend increases, barring significant unforeseen events.
New Accounting Standards
Recently Adopted Accounting Standards
See Notes to Consolidated Financial Statements––Note 1B. Significant Accounting Policies: New Accounting Standards.
Recently Issued Accounting Standards, Not Adopted as of December 31, 2009
The provisions of the following new accounting standards will be adopted as of January 1, 2010 and we do not expect the adoption
to have a significant impact on our consolidated financial statements:
•An amendment to the recognition and measurement guidance for the transfers of financial assets.
•An amendment to the guidelines for determining the existence of a variable interest entity and the related primary beneficiary.
Forward-Looking Information and Factors That May Affect Future Results
The SEC encourages companies to disclose forward-looking information so that investors can better understand a company’s future
prospects and make informed investment decisions. This report and other written or oral statements that we make from time to time
contain such forward-looking statements that set forth anticipated results based on management’s plans and assumptions. Such
forward-looking statements involve substantial risks and uncertainties. We have tried, wherever possible, to identify such statements
by using words such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “forecast,” and other
words and terms of similar meaning in connection with any discussion of future operating or financial performance or business plans
and prospects. In particular, these include statements relating to future actions, business plans and prospects, prospective products
or product approvals, future performance or results of current and anticipated products, sales efforts, expenses, interest rates,
foreign exchange rates, the outcome of contingencies, such as legal proceedings, and financial results, including, in particular, the
financial guidance and targets and anticipated cost savings set forth in the “Our Financial Guidance for 2010” and “Our Financial
Targets for 2012” sections of this Financial Review. Among the factors that could cause actual results to differ materially from past
and projected future results are the following:
•Success of research and development activities;
•Decisions by regulatory authorities regarding whether and when to approve our drug applications, as well as their decisions regarding
labeling, ingredients and other matters that could affect the availability or commercial potential of our products;
•Speed with which regulatory authorizations, pricing approvals and product launches may be achieved;
•Success of external business-development activities;
•Competitive developments, including the impact on our competitive position of new product entrants, in-line branded products, generic
products, private label products and product candidates that treat diseases and conditions similar to those treated by our in-line
products and product candidates;
•Ability to meet generic and branded competition after the loss of patent protection for our products and competitor products;
•Ability to successfully market both new and existing products domestically and internationally;
•Difficulties or delays in manufacturing;
•Trade buying patterns;
•Impact of existing and future legislation and regulatory provisions on product exclusivity;
•Trends toward managed care and healthcare cost containment;
•U.S. legislation or regulatory action, including legislation or regulatory action that may result from pending and possible future
healthcare reform proposals, affecting, among other things, pharmaceutical product pricing, reimbursement or access, including under
Medicaid, Medicare and other publicly funded or subsidized health programs; the importation of prescription drugs from outside the
U.S. at prices that are regulated by governments of various foreign countries; direct-to-consumer advertising and interactions with
healthcare professionals; and the use of comparative effectiveness methodologies that could be implemented in a manner that focuses
primarily on the cost differences and minimizes the therapeutic differences among pharmaceutical products and restricts access to
innovative medicines;
•Legislation or regulatory action in markets outside the U.S. affecting pharmaceutical product pricing, reimbursement or access;
•Contingencies related to actual or alleged environmental contamination;
•Claims and concerns that may arise regarding the safety or efficacy of in-line products and product candidates;
2009 Financial Report 39