Pfizer CEO Albert Bourla joins Yahoo Finance's All Markets Summit to discuss the pharmaceutical giant's future and how it will continue to develop as current patents begin to expire.

Video Transcript

- So where are you now in terms of that question of what is next for Pfizer? What's going to be the next source of revenue as you are going to see patents roll off for various products?

ALBERT BOURLA: I think the pandemic from that aspect in all the bad things that brought to the world brought us something very important that gave to the Pfizer organization a belief that nothing is impossible. A belief in the culture that if we set our mind to a goal even if it is very big, we will make it. That's a big competitive advantage I think for the culture of this organization.

Now going forward, as you said, we are starting losing patents of some of our existing products in year '26, '27, '28, '29. And there is a lot of discussion of how are we going to bridge that gap. So from '25 to '30 depends which the analyst that you rate could be from $17 to $20 billion of losses. We are having $25 billion that we are bringing through business development.

COVID was nice in terms of revenue creation that COVID vaccines, but we are investing all of that. And we are investing in science that could bring products in 25, 26, 27, 28, 29. We committed to bring $25 billion of risk adjusted revenues by 2030.

And we are already exceeded the 10. Now, our internal pipeline, it is what I think it is the biggest competitive advantage. And the business development will provide growth over the loss of exclusivity.

We are losing to end you are gaining 25 so it's a small growth but the pipeline would be on top of it. Only next year, we are expecting to launch more than 10 products. Some were expecting to see the results right now.

That's why I don't give a specific number. Five new vaccines, two oncology medicines, two immunoinflamation medicines. All of that next year, and '24 another round of new innovative vaccines.

- And just by way of comparison, you said more than 10, what's a typical number of launches per year?

- One or two.

- Right. So you guys are busy?

- Very busy. I think next year for Pfizer, it is a pivotal year. It is the year that we can prove to the world and to can prove to us that we can do multiple launches.

I believe in the strength of our commercial organization and in the strength of our manufacturing organization, because it's very difficult for any company to pull together to 10 new medicines manufacturing wise, and sales force wise.