Pfizer net income 2006-2023

The net income of Pfizer stood at some 2.1 billion U.S. dollars in 2023. In the preceding year, the net income was at over 31 billion U.S dollars.

What factors affect net income?

Companies discover how much they have earned or lost during an accounting period by analyzing their net income. For example, rising costs are among several reasons for the significant fall in Pfizer’s net income in 2020: the company increased its research and development expenditure, and suffered additional costs associated with the restructuring of the organization. It is worth adding that the high net income in 2017 was favorably impacted by a tax benefit of around nine billion U.S. dollars.

The pros and cons of mergers and acquisitions

Mergers and acquisitions are a common business strategy used by companies looking to grow. Three of the largest deals in pharmaceutical industry history involve Pfizer, including its acquisition of Warner-Lambert for a record fee of around 90 billion U.S. dollars in 2000. Advantages of the tactic include a larger workforce, increased spending budgets, and breaking into new markets. However, a failure to anticipate potential problems can be damaging to a company. For instance, the integration may disrupt current business operations, and inconsistencies may start to appear in standards and procedures.