Hello, and welcome to Pfizer's 2026 annual meeting of shareholders. Please note that today's meeting is being recorded. During today's meeting, we'll have a question and answer session by telephone only. If you entered the virtual meeting platform using a control number, you will be able to access the dial-in information by clicking the Q&A tab. Only attendees entering the meeting site using a control number can ask questions or make comments. Questions And comments will be handled as indicated in the rules of conduct and meeting procedures. It is now my pleasure to turn today's meeting over to Margaret Madden, Pfizer's Corporate Secretary. Ms. Madden, please begin.
Good morning. I'm Maggie Madden, Pfizer's Corporate Secretary. Welcome to this year's Annual Meeting of Shareholders. I am joined today by Albert Bourla, Pfizer's Chairman and Chief Executive Officer. We also have the Inspectors of Election with us today, John Lano and Catherine Ladzinski from Computershare, participating by audio connection. To ensure fairness for all shareholders, it is important that you abide by the rules of our meeting detailed in the rules of conduct and meeting procedures, which are available on the virtual meeting platform. We have set aside approximately 15 minutes for a general Q&A at the end of the meeting.
During this meeting, we will provide projected financial and other forward-looking information, including anticipated operating and financial performance, growth potential, our expectations for our product pipeline, in-line products and product candidates, business plans, strategies, and prospects, which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. For additional information on these factors, I refer you to Item 1A, Risk Factors and Forward-Looking Information and Factors That May Affect Future Results, sections in our annual report on Form 10-K. The report is filed with the U.S. Securities and Exchange Commission and is also included as an appendix to our 2026 proxy and is accessible at www.pfizer.com. These forward-looking statements speak only as of the date of this meeting, and we undertake no obligation to update or revise any of these statements.
Now, please join me in welcoming Pfizer's Chairman of the Board and Chief Executive Officer, Albert Bourla.
Thank you, Maggie. Good morning, everyone, and welcome to Pfizer's 2026 annual meeting of shareholders. Our Board of Directors is with us today, and I will introduce them later in our meeting. Our executive leadership team is also joining us, and I would like to ask them to stand and be recognized. Can you please stand? Thank you very much. Today, I want to speak directly with you about where Pfizer stands and why I am confident in where we are headed. First, our business has been performing well. In 2025, we delivered on our financial commitments and executed with discipline across our enterprise. Second, we are building upon a strong foundation. We have world-class scientific, commercial, and manufacturing capabilities and global reach. We are continuing to advance and strengthen our robust R&D pipeline, including with our Metsera, YaoPharma, and 3SBio deals completed over the past year.
We continue to execute a clear strategy focused on addressing significant areas of patient need where we can make a difference. We are expanding our use of artificial intelligence and other technologies, and I believe this will be critical to our continued transformation and impact. I'm confident Pfizer is in a strong position as we strive for industry-leading growth by the end of the decade, continue to deliver for patients, and create sustained shareholder value. 2025 was a year that proved something important. When Pfizer focuses, Pfizer delivers. In 2025, we exceeded expectations for revenues and adjusted diluted earnings per share, or EPS, while also returning $9.8 billion to shareholders through our quarterly dividend. This showed the underlying resilience of our business. We delivered on EPS even when COVID-19 activity was among the lowest on record for a full respiratory season.
We sharpened the focus of our R&D engine on the most impactful opportunities, and it contributed to our progress. In 2025, we advanced our pipeline with four key approvals, eight critical readouts, and 11 pivotal study starts. This demonstrates disciplined, purposeful innovation that is helping to build the foundation for Pfizer's next chapter of growth and impact. We also reached a voluntary agreement with the U.S. government, a significant strategic milestone. This supports efforts to lower prescription drug costs and align prices with those in other developed countries. We made great strides last year, and I'm confident that we have the science, strategy, and financial strength to advance Pfizer's leadership and impact. Looking to the year ahead, our focus is on delivering results today while also investing boldly for our future.
We are guided by clear strategic priorities that represent our most significant opportunities to create value for patients and our shareholders. Our company has long been dedicated to bringing forward breakthrough medicines and vaccines that help people live better, longer lives. In recent years, we have supported this aim through a series of transactions with transformative potential for Pfizer. Oncology is a key source of strength, representing Pfizer's largest and most advanced area of research. Since the acquisition of Seagen a few years ago, we have transformed our oncology organization, strengthening our team and expanding both our pipeline and commercial portfolio. Last year's Metsera acquisition put us in a strong position as we seek to lead in next-generation treatments for obesity and adjacent conditions.
We are encouraged by progress we have already achieving in advancing our highly differentiated portfolio, targeting breakthrough medicines in what could be an overall market reaching $150 billion. Since completing our acquisition of Biohaven four years ago, we have achieved global scale and leadership for patients with migraine, which remains a highly prevalent and burdensome condition. In 2025, Nurtec held a leading market position within its therapeutic class. We are also pursuing expansion opportunities, including the potential treatment for intermittent prevention of menstrual migraine. Our continued progress demonstrates our commitment to maximizing the value of these key transactions. 2026 is shaping up to be a catalyst-rich year, and we have already had a strong start for R&D. We are well-positioned to drive progress in oncology that would build on our established presence in breast, genitourinary, thoracic, gastrointestinal, and blood cancers.
We are encouraged by opportunities to advance antibody-drug conjugates or ADCs. We intend to unlock potential next-generation therapies that combine the precision of targeted biology with the power of proven cancer-fighting agents. We are excited by the promise of more precise and effective therapies for patients with hard-to-treat cancers. We also have a robust program for our bispecific antibody in license last year from 3SBio. We have seven near-term planned or recently started trials for this investigational medicine that has the potential to become a backbone therapy across multiple tumor types. While GLP-1 therapies have been a genuine breakthrough for patients living with obesity, weekly injections and challenges in tolerating these medicines are a burden for many. We are pursuing opportunities to help with differentiated investigational therapies that, if successful and approved, could be highly effective and convenient.
We look forward to sharing our progress as we advance our R&D pipeline. Investing to maximize post-2028 growth is our third strategic priority. We are committed to fully supporting our commercial portfolio so our approved medicines reach the patients who need them. We continue investing in our robust and accelerated approach to R&D, while also considering bolt-on business development that could complement our existing strengths. Our overall capital allocation strategy is focused on enhancing long-term shareholder value. Our priority is to maintain and over the long term grow our dividend, reinvest in the business, and in the future, consider share repurchases after deleveraging our balance sheet. We have made bold strategic investments in AI because we believe it is the most powerful lever we have to reimagine how medicines and vaccines are discovered, developed, and delivered. Today, we are scaling AI across our business to accelerate innovation and improve productivity.
Our scientists are using it to help identify the most promising molecules in R&D. AI is helping our commercial teams connect with healthcare providers at the right moment with the right information. We are deploying AI throughout manufacturing and our global supply chain to drive consistent quality, improve yields, and build operations that can flex with demand. I'm confident that with our expertise, our ambition, and our commitment to moving fast, we are not just preparing for an AI-enabled future. We are positioning ourselves to lead it. Our strategy is clear. Science, transformation, technology, and our colleagues are the catalyst for our path forward. They inspire our bold ambition as we continue executing and investing today while building for future growth. Thank you to our Board of Directors.
We are fortunate to have exceptional breadth of experience and perspective around our boardroom table, spanning areas such as finance, science, commercial operations, technology, and global markets. This has been instrumental in shaping how we evaluate and execute strategic opportunities. Their willingness to question assumptions and hold management accountable has helped make us a sharper, better-governed company focused on creating long-term shareholder value. I also want to thank our Pfizer colleagues. It is your remarkable talent, drive, and dedication to our purpose that fuels our impact and successes. Thank you to all our shareholders for your engagement and support. I'm proud of what we have achieved and confident that we will create value for patients and our shareholders in the years to come. Let's now proceed with the business portion of that meeting.
We want to maintain an informative, productive, and orderly business meeting marked by fairness to all shareholders. Therefore, we will follow the order of business, which is available on the virtual meeting platform. We will get right to the first item of business, a declaration of quorum. Notice of this meeting was given to all shareholders of record as of February 25th, 2026. Shares representing at least 78.8% of the votes entitled to be cast at this meeting are present here today. This percentage represents a quorum. We now move to the next order of business, items that are requiring your vote. We have five voting items in all, three that we address at every annual meeting, one that we address periodically, and one shareholder proposal.
To ensure fairness to our shareholders, it is important that you follow the rules of conduct and meeting procedures, which are available on the virtual meeting platform. Only shareholders who have entered the virtual meeting platform using their control number will be able to ask questions during the Q&A period. Information on how to participate can be found by clicking on the Q&A tab. In a moment, I will officially open the polls. Please note that if you have entered this meeting using a control number, you can still vote on the proxy voting items unless you are a participant in a Pfizer savings plan, as the voting submission deadline has now passed. If you have not yet voted but would like to do so, or if you have already voted but would like to change your vote, please use the virtual meeting platform to vote your shares.
I declare the polls open as of 9:17 A.M. Eastern Daylight Time on April 23rd, 2026. The polls will close today following the presentation of the items of business. We now turn to the first voting item, the election of directors. This year, the board has nominated 12 individuals to serve one-year terms, all ending at our next annual meeting of shareholders. The 12 directors nominees are all current directors standing for re-election. You will find their extensive backgrounds in our proxy statement. Please, to our directors, stand as I call your name and remain standing until I introduce all nominees. In addition to me, the director nominees in item one are Ronald Blaylock, Mortimer Buckley, Susan Desmond-Hellmann, Joseph Echevarria, Scott Gottlieb, Dan Littman, Shantanu Narayen, Suzanne Nora Johnson, James Quincey, James Smith, and Cyrus Taraporevala. Ladies and gentlemen, your board of directors.
The board recommends that you vote for all director nominees. We now move to our next item. Item two is to ratify the selection of KPMG LLP as the company's independent registered public accounting firm for year 2026. Two representatives from KPMG are participating by audio connection with us today, Mike Gaynor and Rick DiLorenzo. The audit committee of the board of directors has done a thorough job of reviewing the performance of KPMG in 2025 and has selected the same company, KPMG, as Pfizer's independent registered accounting firm for the year 2026. The board has ratified this selection and recommends that you vote for this proposal. Let's now move to our next item three. Item three is a management proposal asking our shareholders to approve the Pfizer Inc 2019 Stock Plan as amended April 2026.
For the reasons discussed in the 2026 proxy statement, the board of directors is required to seek shareholder approval of the amended Pfizer Inc 2019 Stock Plan. The board recommends a vote in support of the proposal for the reasons set forth in the proxy. Let's now move to the next voting item four. Item four is a management proposal asking our shareholders to cast an advisory vote to approve the compensation of the company's named executive officers identified in the summary compensation table in the executive compensation section of the 2026 proxy statement. While this advisory vote is non-binding, the compensation committee and the entire board of directors will review the results of these votes very carefully. Consistent with Pfizer's record of responsiveness, we will consider the feedback of shareholders and take that feedback into account in future decisions relating to our executive compensation program.
Accordingly, for the reasons set forth in the proxy statement, the board recommends a vote for the resolution and to approve, on an advisory basis, the compensation of the company's named executive officers as stated in the proxy statement. Let's now move to the next and last voting item, which is item five. Item five is a shareholder proposal submitted by Mr. John Tschannen of Redondo Beach, California, requesting a shareholder vote on adopting an independent chair policy. The full text of the proposal is set forth in the proxy statement. Mr. Cam Franklin will be representing Mr. Tschannen. Mr. Franklin, you have three minutes to move the proposal forward. Operator, please open the line to Mr. Franklin.
Good morning Mr. Franklin, your line is now open.
Good morning. Can you hear me okay?
hear you very well, Ms. Franklin. Thank you.
Thank you. Thank you. Proposal five, Independent Board Chairman, sponsored by John Tschannen. Shareholders request that the board of directors adopts an enduring policy and amend the governing documents in order that two separate people hold the office of the Chairman and the office of the CEO as soon as possible. Selection of the Chairman of the Board requires the separation of offices of the Chairman of the Board and the Chief Executive Officer. The Chairman of the Board shall be an Independent Director. A Lead Director shall not be a substitute for an Independent Board Chairman. Now is a good time to transition to an Independent Board Chairman. Pfizer stock was at $58 in 2022. Pfizer stock is now $27. An Independent Board Chairman improves corporate governance by bringing impartiality, objective oversight, and external expertise to board decisions, mitigating conflicts of interest, enhancing transparency, and boosting investor confidence.
This detached perspective allows the chairman to focus on shareholder interest, strengthen management accountability, and provide critical checks and balances, ultimately contributing to Pfizer's long-term sustainability and profitability. Please vote yes, independent board chairman, proposal number five. Thank you.
Ms. Franklin, thank you very much for the clarity and for moving the proposal and for staying on time. The proposal has been moved. Thank you. The Board of Directors opposes this proposal for the reasons set forth in the proxy statement. Now we have concluded the presentation of the items of business, the five proposals. We now move to the next item on the order of business, final voting and closing the polls. If you would like to vote or change your vote, please submit your vote on the virtual meeting platform at this time.
Thank you. I now declare the polls officially closed as of 9:25 A.M. Eastern Daylight Time on April 23rd, 2026. We now move to the next item on the order of business, the preliminary results of the voting. I will now ask Margaret Madden, our Corporate Secretary, to provide the inspector's preliminary report on the voting. Margaret?
Thank you, Albert. The inspector's report is preliminary and is subject to the inspector's final tabulation, which should not significantly change the preliminary results. The final voting results will appear in a Form 8-K filed with the U.S. Securities and Exchange Commission within four business days of this annual meeting. The inspector's preliminary report shows that shares representing 78.8% of the votes entitled to be cast at this meeting were represented in person or by proxy, constituting a quorum. Item one, the inspector's preliminary report further shows that each of the 12 nominees for election as director, named in Proposal One of the proxy statement, received a favorable vote of at least 82.7% of the votes cast at this meeting. Item two, the proposal to ratify the selection of KPMG LLP to serve as the independent registered public accounting firm for the company for 2026 received the following votes.
92.8% of the votes cast voted for the proposal, 7.2% of the votes cast voted against the proposal. Item three, the proposal to approve the Pfizer Inc 2019 Stock Plan, as amended April 2026, received the following votes. 91.3% of the votes cast voted for the proposal, 8.7% of the votes cast voted against the proposal. Item four, the 2026 advisory vote on executive compensation received the following votes. 88% of the votes cast voted for the proposal, 12% of the votes cast voted against the proposal. Item five, the shareholder proposal requesting the board to adopt an independent chair proposal received the following votes. 28.5% of the votes cast voted for the proposal, 71.5% of the votes voted against the proposal.
The results of this preliminary report indicate that the shareholders of the company have elected all nominees of the board of directors as named in the proxy statement, have approved the proposal regarding ratification of the selection of our independent registered public accounting firm for the 2026 fiscal year, have approved the Pfizer Inc 2019 Stock Plan as amended in April 2026, have approved, on an advisory basis, the compensation of our named executive officers, and have not approved the shareholder proposal. This concludes the preliminary inspector's report.
Thank you, Margaret. Now let's move to the next order of business, which is questions from shareholders and answers. Having completed the voting items and reported on the voting, now we will welcome questions from our shareholders. We value the support and engagement of all our shareholders and strive to be responsive to their questions and perspectives. We provided opportunities for shareholders to submit questions in advance of today's meeting, and we are pleased with the interest in a number of topics related to Pfizer's strategy and future opportunities. For any shareholders who want to ask a question via telephone, as a reminder, please access the virtual meeting platform, enter your control number, click on the Q&A tab, and you will see the phone number to call. We will follow the rules of conduct and meeting procedures for the handling of our questions.
We have approximately 15 minutes set aside today for this portion of the meeting and will make every effort to be responsive to shareholders with questions and comments. We ask you to please focus your question on an issue of general importance to shareholders and limit your comments to no more than two minutes. In the interest of fairness to our shareholders, if a question has already been substantially answered, we will move on to another shareholder's question. Margaret, what questions did we receive in advance of today's meeting?
Albert, the first question is focused on the company's opportunities for future growth. The question is, Pfizer has multiple products that will lose patent exclusivity over the next few years. These have been important revenue drivers for the company. What are the plans to fill this gap?
Thank you, Maggie, and thank you, of course, to the shareholder who asked this very important question. The innovation cycle is a fact of life in our industry. Every major biopharma company faces the eventual loss of patent exclusivity on its leading products. The key is to plan ahead and build portfolios that generate future growth and impact, and I believe Pfizer has done exactly that. Medicines like ELIQUIS, IBRANCE, and XTANDI have been extraordinary for the millions of patients whose lives have helped to meaningfully improve. We are proud of that legacy. Precisely because these products have been so important, we are clearly focused on our next opportunities to deliver value for patients and shareholders. We are focused on several strategic areas. First, we have invested in strengthening our robust R&D pipeline through strategic acquisitions, licensing deals, and sharply focused on the most impactful internal R&D programs.
Among key transactions like that we have completed in recent years, Seagen, Metsera, and Biohaven are the most significant. We are pleased with the progress we have been achieving with each one of them. We've made great strides, for example, with integrating Seagen products into our commercial portfolio and advancing key R&D programs that were acquired by Seagen. These efforts are instrumental in supporting our aim of having at least eight blockbuster oncology medicines by year 2030. Second is commercial execution. Our U.S. and international commercial teams continue to deliver. We have strengthened our position in key therapeutic areas as we aim to maximize the potential, commercial potential of products already in the market. In 2025, recently launched and acquired products grew by approximately 14% operationally, delivering $10.2 billion in full year revenue. This is the result of outstanding commercial execution. Third, it is financial discipline.
We continue to drive a focused and ambitious agenda directed towards making our company more efficient and productive. We are on track to deliver the majority of $7.2 billion in anticipated total net cost savings from productivity programs by the end of this year, 2026. Additionally, AI programs deployed across R&D, manufacturing, and commercial are helping us transform the way we work with greater precision and impact. The next few years will require us to execute at a high level across each of these areas. We have the strategy, we have the pipeline, we have the talent, and we have the financial foundation to manage through this period. I'm confident we will emerge with a diversified, durable revenue base that supports our aim to drive industry-leading growth by the end of this decade. Thank you again for your question. Margaret, next question, please.
The next question, Albert, is shareholders are not satisfied that Pfizer's stock price has underperformed the broader market and many peers in recent years. What are you doing to improve this situation?
Again, thank you for this question, but it is in the mind of all of us. This question reflects frustration that I personally share. I can assure you that I also share the same desire and a determined commitment to drive improvement. While we have more work to do, the good news is that we are making progress. Our business performed well in 2025. We executed with discipline and focus while also investing in our future growth and impact. I'm encouraged that investors are recognizing our progress, though I believe the market has yet to fully recognize Pfizer's value. Through the end of the first quarter, Pfizer shares gained 13%, outpacing significantly both the S&P 500 and the DRG, a key pharmaceutical peer index. This outperformance reflects growing recognition of the progress we have made, and I believe it's only the beginning.
We have proven many times over the years that Pfizer can leverage our scientific leadership and commercial strength to deliver innovative medicines and vaccines to patients. We are focused on our differentiated opportunities to address significant areas of patient need. We are making progress in strengthening our leadership in oncology and in vaccines. We have strengthened our internal medicine portfolio with the acquisition of Metsera to reinvigorate our presence in obesity. I'm encouraged by the opportunities to create value for patients and our company in inflammation and immunology. Our job is to keep executing and keep delivering on our commitments. As we continue to deliver, I'm confident the market will value Pfizer very differently than it does today. Thank you.
Thank you, Albert. Our next question comes from Dr. Lisa Jones-Engel, representing People for the Ethical Treatment of Animals, who asks that we present the following question on her behalf. She asks, "Reporting this week at STAT News shows monkeys with documented infections and other unresolved health issues are not excluded from studies commissioned by Pfizer. Because these conditions are known to alter immune function, drug metabolism, and physiological response in ways that affect study outcomes, can Pfizer state unequivocally that biological variability introduced by these conditions at study entry does not confound your results? Yes or no?
Thank you for the question. Let me start by saying that our company is committed to the patients we serve, and we hold ourselves and our partners to high standards of scientific integrity. Pfizer's research standards are designed to address these types of situations. When the use of animals is essential to the drug discovery and development process, animals are assessed for health and suitability under established practices, designed and overseen by veterinary professionals before and throughout the study. We are confident that our standards of care are designed to help minimize variables that could compromise scientific results and support accurate, reproducible, and translatable research that ultimately benefits human health. Serving patients is the reason we exist. Additionally, I would like to say that this is an important matter to Pfizer and to me personally. I trained as a veterinarian, and I care deeply about animals.
The standards governing our research reflect both scientific excellence and genuine care for the animals involved. Thank you. Margaret, can you please go to the next question?
Thank you, Albert. The next question is about AI and asks, "What steps is Pfizer taking to make sure it's using the technology to better compete?
AI is becoming central to how we operate across every major function of the company. In R&D, for example, AI is compressing timelines and improving decision-making. We are using AI-driven target identification and molecule design to narrow the field of investigational medicines earlier and more precisely than we could with traditional methods. The goal is faster progress with our programs most likely to succeed. To help ensure that we stay ahead of the curve, we are expanding our AI infrastructure so we have the computing backbone and other capabilities needed to power the next generation of breakthroughs. Pfizer has also committed to strong governance, deploying AI with the highest legal and ethical standards through a robust program with the right controls in place across our enterprise.
Again, we are committed to being a company that uses AI not just to operate more efficiently, but to help discover and deliver better medicines faster. Have we received any additional questions, Margaret?
Yes, Albert. The last pre-submitted question is focused on the obesity market. "While obesity therapies have served a large and growing market in recent years, other companies, such as Lilly and Novo Nordisk, have a commanding position. Is Pfizer too late to the game, and what is your strategy to compete?
Very, very nice question. Thank you. Currently approved therapies such as GLP-1 have contributed to meaningful change in the treatment landscape for patients with obesity globally. The remaining unmet need, however, is still substantial. More than one billion people around the world are estimated to be affected by obesity and serious related conditions such as heart disease and diabetes. This is contributing to significant chronic disease burden, shortened lifespans, and growing healthcare costs. Current therapies don't work for everyone, and access remains a challenge. This is where we see the opportunity for Pfizer. As the market evolves, we are seeking to position ourselves with a competitive portfolio of options. This is intended to help us meet the increasingly diverse needs of people seeking to manage their weight. It could also help us support healthcare providers, including primary care physicians, cardiologists, and endocrinologists who prescribe these medicines.
In addition to Pfizer's decades of trust and relationships with doctors, we also have industry-leading direct-to-patient capabilities through Pfizer For All. We believe this platform has the potential to reduce friction for consumers and support access to medicines, including in cash pay channels. What gives us the greatest confidence, however, is Pfizer's scientific depth. We have an exceptional R&D team and a pipeline that includes innovative approaches to weight management. As part of our expansive R&D agenda in 2026, we have recently initiated or plan to initiate 10 phase III studies in obesity. Our most advanced investigational medicine for obesity is in development for both weekly and monthly dosing. We believe this has the potential, if successfully developed and approved, for competitive efficacy and tolerability and the first approval in year 2028.
This market is large enough, and we believe there is substantial room for a well-differentiated competitor. I believe Pfizer can earn a leading position in this space, and we are committed to proving that in the next coming years. Thank you for the question, and please stay tuned. Operator, we have time for one final question. Please open the line.
To make a comment or ask a question, you should have entered the virtual meeting platform using your control number. If you entered the platform using a control number, you will be able to access the dial-in information by clicking the Q&A tab. Please press star one to ask a question. Please mute your computer or playback device before being called on to minimize background noise. We will now pause to compile the list. Our final question comes from Steve Szymanski. Caller, your line is now open.
Yes. One reason I invest in Pfizer is because of the company's long-standing dividend. Are you committed to maintaining that dividend?
Thank you, Mr. Szymanski. Thank you for your question. Our capital allocation strategy is built around one overriding objective, creating long-term value for our shareholders. We have three clear priorities. First, our dividend. To answer your question, we are fully committed to maintaining our dividend and growing it over time. The second is investing in our business. We continue to support our robust R&D pipeline. We are supporting continued commercial execution, and when we see the right opportunities with compelling science and strong potential financial returns, third, we will pursue bold acquisitions and strategic licensing agreements. These are all engines intended to drive future revenue and growth. In 2025, we returned $9.8 billion to shareholders via the quarterly dividend. We invested $10.4 billion in internal R&D.
We also invested approximately $8.8 billion in business development transactions, primarily reflecting the Metsera acquisition and the 3SBio licensing deal. In the future, we will consider also the potential to make share repurchases after deleveraging our balance sheet. We expect to continue to delever over the longer term to maintain a balanced capital allocation strategy. We are focused on taking actions today that expand our options tomorrow so we can create sustained value for shareholders over the long term. Now let's move to the next question, right?
No, we don't have any more questions.
We have more?
No.
We're done.
That was the last one.
Okay. If your question was not answered at today's meeting, you may submit your question on the virtual meeting platform, which will remain open until 11:00 A.M. Eastern Daylight Time today. We will post the answers to unanswered pertinent questions on our website. Now let's move to our last order of business, which is adjournment. We are about to adjourn, but before I do that, I would like to thank everyone who worked on this meeting, both Pfizer colleagues and our business partners. This has been a valuable meeting. We appreciate the opportunity to listen and learn from our shareholders. Speaking for all of us in executive leadership and in our board, I'm grateful for your continued confidence in Pfizer and for your continuing interest in the progress of our company. Please stay safe and healthy. With that, the meeting is adjourned.
This concludes the meeting. You may now disconnect.