Pfizer Prices $6,000,000,000 Debt Offering

NEW YORK–(BUSINESS WIRE)– Pfizer Inc. (NYSE:PFE) today announced the pricing of a debt offering
consisting of five tranches of notes:

Pfizer intends to use the net offering proceeds to fund the purchase of
its 6.200% Senior Notes due March 15, 2019 (the “Tender Notes”) validly
tendered and accepted for payment in Pfizer’s previously announced
tender offer (the “Tender Offer”) and to fund the redemption of any of
the Tender Notes that remain outstanding after the completion of the
Tender Offer in accordance with the terms of the make-whole provisions
of the indenture governing the Tender Notes. Pfizer intends to use the
remaining proceeds for general corporate purposes, including to
refinance, redeem or repurchase existing debt and to repay a portion of
its outstanding commercial paper.

The closing of the offering is expected to occur on November 21, 2016,
subject to satisfaction of customary closing conditions.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC,
Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital
Markets, LLC are acting as joint book-running managers for the offering.

The offering of these securities is being made only by means of a
prospectus. Copies may be obtained by calling Citigroup Global Markets
Inc. at (800) 831-9146, Credit Suisse Securities (USA) LLC at (800)
221-1037, Merrill Lynch, Pierce, Fenner & Smith Incorporated at (800)
294-1322 or RBC Capital Markets, LLC at (866) 375-6829.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the notes, nor will there be any
sale of the notes in any jurisdiction in which such offer, solicitation,
or sale would be unlawful.

About Pfizer

At Pfizer, we apply science and our global resources to bring therapies
to people that extend and significantly improve their lives. We strive
to set the standard for quality, safety and value in the discovery,
development and manufacture of health care products. Our global
portfolio includes medicines and vaccines as well as many of the world’s
best-known consumer health care products. Every day, Pfizer colleagues
work across developed and emerging markets to advance wellness,
prevention, treatments and cures that challenge the most feared diseases
of our time. Consistent with our responsibility as one of the world’s
premier innovative biopharmaceutical companies, we collaborate with
health care providers, governments and local communities to support and
expand access to reliable, affordable health care around the world. For
more than 150 years, we have worked to make a difference for all who
rely on us.

Forward-Looking Statements

This press release contains forward-looking statements made within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements involve substantial risks and uncertainties.
We have tried, wherever possible, to identify such statements by using
words such as “will,” “may,” “could,” “likely,” “ongoing,” “anticipate,”
“estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,”
“forecast,” “goal,” “objective,” “aim” and other words and terms of
similar meaning or by using future dates in connection with any
discussion of, among other things, expectations regarding the completion
of the notes offering and the use of proceeds. A list and description of
risks, uncertainties and other matters can be found in our Annual Report
on Form 10-K for the year ended December 31, 2015 and in our Quarterly
Report on Form 10-Q for the quarterly periods ended April 3, 2016, July
3, 2016 and October 2, 2016, in each case including in the sections
thereof captioned “Forward-Looking Information and Factors That May
Affect Future Results” and “Risk Factors,” in our Current Reports on
Form 8-K, and in the prospectus supplement and accompanying prospectus,
in each case including in the section thereof captioned “Risk Factors.”
You should understand that it is not possible to predict or identify all
such factors. Consequently, you should not consider any such list to be
a complete set of all potential risks or uncertainties.

We cannot guarantee that any forward-looking statement will be
realized, although we believe we have been prudent in our plans and
assumptions. Achievement of anticipated results is subject to
substantial risks, uncertainties and inaccurate assumptions. Should
known or unknown risks or uncertainties materialize, or should
underlying assumptions prove inaccurate, actual results could vary
materially from past results and those anticipated, estimated or
projected. You should bear this in mind as you consider forward-looking
statements, and you are cautioned not to put undue reliance on
forward-looking statements. We undertake no obligation to publicly
update forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law or by
the rules and regulations of the Securities and Exchange Commission (the
“SEC”). You are advised, however, to consult any further disclosures we
make on related subjects in our Form 10-K, 10-Q and 8-K reports and our
other filings with the SEC.

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