Pfizer Inc To Host Investment Analysts Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Colin Nigel Bristow - UBS Investment Bank, Research Division - Analyst : To not beat the same drum here. I just wondered if -- as we think about PAXLOVID here, testing rates in the U.S. are down around 19% year-on-year and continue to trend lower. Can you just give us some idea of where you expect this to reach steady state? And then what proportion of current PAXLOVID prescriptions are being written to patients without a test confirmed diagnosis of COVID? And then just sort of a point of clarification on the cost savings and the cost-cutting program. We get lot of questions -- some confusion. You're spending $3 billion to achieve $3.5 billion in cost savings. And then the ongoing run rate, is that $3.5 billion or $2.5 billion? It sounds like in your last answer, it's $3.5 billion, but if we could just sort of draw a line under it and clarify that, that would be great.

Question: Kerry Ann Holford - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : A couple of questions on PAXLOVID, please. So what is the risk that ex U.S. governments now follow the U.S. path and request to refund or [rebasing] PAXLOVID orders. And I guess, how much flex would you prepare to give other governments here? And then related to this, can you confirm how many treatment courses of PAXLOVID are still sitting in the channels today following the announcements right.