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Pfizer Inc (PFE): R&D Expense

Annual figures by period end, from SEC filings.

Restated years: each year's figure is from the latest filing that reports it. The company later restated the years ended 2011-12-31, 2018-12-31, 2020-12-31 (for example after a spin-off or a discontinued operation), while the year before each was last reported on the old basis. Changes across those points are marked n/c (not comparable), and growth rates are not computed across them.

$10.44B
Year ended 2025-12-31
$11.05B
Trailing 12 months to 2026-06-28
-3.0%
3-year compound annual growth
+3.7%
5-year compound annual growth
$11.43B2007-12-31: $8.09B2008-12-31: $7.95B2009-12-31: $7.82B2010-12-31: $9.48B2011-12-31: $8.68B2012-12-31: $7.48B2013-12-31: $6.68B2014-12-31: $8.39B2015-12-31: $7.69B2016-12-31: $7.89B2017-12-31: $7.68B2018-12-31: $7.76B2019-12-31: $8.38B2020-12-31: $8.71B2021-12-31: $10.36B2022-12-31: $11.43B2023-12-31: $10.68B2024-12-31: $10.82B2025-12-31: $10.44B$10.44B
2007-12-31 R&D Expense (USD) 2025-12-31
Period endedR&D ExpenseChange YoYSource filing
2025-12-31$10.44B-3.6%2026-02-26, From 2025-01-01
2024-12-31$10.82B+1.3%2026-02-26, From 2024-01-01
2023-12-31$10.68B-6.6%2026-02-26, From 2023-01-01
2022-12-31$11.43B+10.3%2025-02-27, From 2022-01-01
2021-12-31$10.36B+19.0%2024-02-22, From 2021-01-01
2020-12-31$8.71Bn/c2023-02-23, From 2020-01-01
2019-12-31$8.38B+8.1%2022-02-24, From 2019-01-01
2018-12-31$7.76Bn/c2021-02-25, From 2018-01-01
2017-12-31$7.68B-2.6%2020-02-27, From 2017-01-01
2016-12-31$7.89B+2.6%2019-02-28, From 2016-01-01
2015-12-31$7.69B-8.4%2018-02-22, From 2015-01-01
2014-12-31$8.39B+25.7%2017-02-23, From 2014-01-01
2013-12-31$6.68B-10.7%2016-02-29, From 2013-01-01
2012-12-31$7.48B-13.8%2015-02-27, From 2012-01-01
2011-12-31$8.68Bn/c2014-02-28, From 2011-01-01
2010-12-31$9.48B+21.2%2013-02-28, From 2010-01-01
2009-12-31$7.82B-1.5%2012-02-28, From 2009-01-01
2008-12-31$7.95B-1.8%2011-02-28, From 2008-01-01
2007-12-31$8.09Bn/a2010-02-26, From 2007-01-01

R&D Expense at similar companies

Companies with the same SEC industry code (Pharmaceutical Preparations), reporting in the same currency, closest in revenue. Each shows its own latest fiscal year, so period ends differ.

CompanyYear endedR&D ExpenseChange YoY
Pfizer Inc (PFE)2025-12-31$10.44B-3.6%
AbbVie Inc. (ABBV)2025-12-31$9.10B-28.9%
Merck & Co., Inc. (MRK)2025-12-31$15.79B-12.0%
Eli Lilly & Co (LLY)2025-12-31$13.34B+21.3%
Bristol Myers Squibb Co (BMY)2025-12-31$9.95B-10.8%
Abbott Laboratories (ABT)2025-12-31$2.94B+3.4%
Johnson & Johnson (JNJ)2025-12-28$14.66B-14.9%
Teva Pharmaceutical Industries Ltd (TEVA)2025-12-31$1.01B+1.5%
Regeneron Pharmaceuticals, Inc. (REGN)2025-12-31$5.85B+14.0%

Compare PFE, ABBV, MRK, LLY side by side · Screen every company in Pharmaceutical Preparations ↗