Pfizer (PFE) r&d spend was $10.4B in FY2025 (-4% YoY). The tables below show the complete quarterly and annual r&d spend history, sourced from SEC EDGAR 10-K and 10-Q filings.
Annual R&D Spend
Fiscal Year
R&D Spend
YoY
2025
$10.4B
-4%
2024
$10.8B
+1%
2023
$10.7B
-7%
2022
$11.4B
+10%
2021
$10.4B
+19%
2020
$8.7B
+4%
2019
$8.4B
+8%
2018
$7.8B
+1%
2017
$7.7B
-3%
2016
$7.9B
+3%
2015
$7.7B
-8%
2014
$8.4B
+26%
2013
$6.7B
-11%
2012
$7.5B
-14%
2011
$8.7B
-8%
2010
$9.5B
+21%
2009
$7.8B
-2%
2008
$7.9B
-2%
2007
$8.1B
Recent Quarterly R&D Spend
Quarter
R&D Spend
Q2 2026
$2.8B
Q1 2026
$2.5B
Q4 2025
$3.2B
Q3 2025
$2.5B
Q2 2025
$2.5B
Q1 2025
$2.2B
Q4 2024
$3.0B
Q3 2024
$2.6B
Q2 2024
$2.7B
Q1 2024
$2.5B
Q4 2023
$2.8B
Q3 2023
$2.7B
Source: PFE on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.