1. UBS Global Life Sciences
Conference
Ian Read
President, Worldwide Pharmaceutical Operations
September 22, 2008

2. Forward-Looking Statements and
Non-GAAP Financial Information
Discussions at this meeting will include forward-looking statements.
Actual results could differ materially from those projected in the forward-
looking statements. The factors that could cause actual results to differ
are discussed in Pfizer’s 2007 Annual Report on Form 10-K and in our
reports on Form 10-Q and Form 8-K.
Also, discussions during this meeting will include certain financial
measures that were not prepared in accordance with generally
accepted accounting principles. Reconciliations of those non-GAAP
financial measures to the most directly comparable GAAP financial
measures can be found in Pfizer’s Current Reports on Form 8-K dated
July 23, 2008.
These reports are available on our website at www.pfizer.com in the
quot;Investors—SEC Filingsquot; section.
2

3. Our Path Forward
Maximize Revenues from
Existing, New & Diverse
Sources
Take Advantage of Size,
Scale of Pfizer
Establish a Lower, More
Operate with Agility, Speed,
Flexible Cost Base
Focus of an Entrepreneurial
Organization
Innovate the
Business Model
Drive Greater Total Shareholder Return
3

4. Our Path Forward:
Today’s Focus
US Lipitor Post
Today
LOE Lipitor
Optimize the Patent-Protected Portfolio
Maximize the Value of New and Inline Products
Advance Compounds in the Pipeline
Maximize
Capitalize on Established Products
Revenues Sustainable
TSR Growth
Grow in Emerging Markets
Revenue
Invest in Complementary Businesses growth
EPS
Aggressively Manage Costs growth
Flexible
Cost Create More Flexible Operating Model
Base
Continuous Improvement in Processes
Innovate Our Business Model
4

5. Our Broad Patent-Protected Portfolio
First Half 2008 Global Product Revenues ($ Millions) % Change
$6,113 1
12
1,200
Primary Care
50
1,196
13
923
/ 5
603
/ 33
484
11
293
* 22
225
/ 841 12
551 20
/
Specialty
20
473
444 10
62
401
22
358
19
221
* Represents direct sales under license agreement with Eisai Co., Ltd.
Source: Pfizer 2Q2008 Earnings Release
5

6. Our Strong Global Presence
United States International
Revenues $12.4B in 1H2008 (+16%G)
$9.5B in 1H2008 (-13%G)
and Growth *
#2 Europe
$14.3B
6.8% Share
2.4%G
#1 U.S. #4 Africa/ #1 Japan
Middle East #1 Asia
$24.0B $4.1B
8.6% Share $0.5B 6.4% Share
$2.7B
-11.2%G 5.7% Share 5.3%G
5.3% Share
10.9%G 9.2%G
#1 Latin
America
$1.5B
5.9% Share
6.2%G
* Pfizer 2Q2008 Earnings Release
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Source: All IMS MAT 2Q2008, except as otherwise noted

7. Lots of Life Left for Lipitor
United States International
Revenues
$3.0B in 1H2008 (+16%G)
$3.1B in 1H2008 (-11%G)
and Growth*
• Hyper-competitive, generic, • Advocating first-line simvastatin use
decelerating market growth in most EU markets
Market
• Heightened cost sensitivity • Access challenges
Dynamics
• Lack of landmark data • Reimbursement pressures
• Reinforce differentiation with • Prevention focus in higher risk
compelling clinical evidence patients with higher doses of Lipitor
Game Plan • Target new & continuing patients
• Maintain access
w
Ne !
C
DT
7
* Pfizer 2Q2008 Earnings Release

8. Restoring Confidence in Chantix/Champix
United States International
Revenues
$182MM 1H2008 (+264%G)
$302MM 1H2008 (-3%G)
and Growth*
• 3 label changes • Muted media coverage
• Negative media coverage • Positive support from key
Market
influencers & smoking bans
• Physician and patient confidence
Dynamics
challenged • Patient willingness to pay
• Education/promotional efforts on • Continue launch rollout globally
process of quitting, Chantix • Support policies on smoking bans
benefit/risk profile, adherence
Game Plan and access/reimbursement
• Grow access, reimbursement • Education/promotional efforts to
• Safety studies ongoing target Rx quit season
e ’r e !
Wk
c
Ba is making a positive
impact on the lives of
millions of smokers
8
* Pfizer 2Q2008 Earnings Release

9. Growing Lyrica’s Leadership
United States International
Revenues
$510MM 1H2008 (+49%G)
$686MM 1H2008 (+50%G)
and Growth*
• Cymbalta launch • Challenging access environment
• Low diagnosis & treatment levels • Preference for cheaper alternatives
Market
• Generics are increasingly being • Cymbalta, Lyrica await approval for
Dynamics
used first Fibromyalgia
• Drive earlier diagnosis, treatment • Drive earlier diagnosis & treatment
and use with multi-channel efforts in neuropathic pain, epilepsy, GAD
• Legitimize Fibromyalgia as a
Game Plan • Legitimize Fibromyalgia as a disease
disease • Enhance access
• Grow 1st line use in DPN/PHN
Online
Educational
Materials
About
Fibromyalgia
Additional
Innovative
Tactics
Resources to Help Manage the Condition
9
* Pfizer 2Q2008 Earnings Release

10. Sutent –
The Bedrock of Our Oncology Portfolio
United States International
Revenues
$275MM 1H2008 (+106%G)
$126MM 1H2008 (+10%G)
and Growth*
Increased 1st line RCC competition
Rapid uptake of new agents
High unmet medical needs More stringent reimbursement and
Market access issues
Extended treatment regimens as
Dynamics
patients live longer Growing opportunity in emerging
Asian markets
Efficacy focus Continue global launch roll-out
Keep patients at the appropriate Efficacy focus
dose through all treatment cycles
Game Plan Remain as standard of care
Highlight 2-yr mRCC survival data Highlight 2yr mRCC survival data
Potential indications to drive growth Manage cost-benefit concerns
mRCC
FR GER SP US IT UK
Patient
Share –
74% 63% 63% 52% 51% 37%
1st Line
Sources: US share = ImpactRx (March ’08 data; n=153); EU share = Custom Patient Record Study (fielded 4Q07; >1,200 pt records sampled)
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* Pfizer 2Q2008 Earnings Release

11. Investing to Win in Oncology
Global Oncology Opportunity:
Four Research Platforms $81B by 2012 with 7% CAGR
Pfizer Oncology products $1.3B 1H2008
ANTI- IMMUNO- Pfizer Assets and Advantages:
ANGIOGENESIS THERAPY
Among top Oncology field forces
Reawakens
Blocks growth
#1 in Oncology Account Management for
immune system
of tumor blood
customer focus and innovative value added
vessels
program *
PfizerOncology.com – 24/7 access to Pfizer
CYTOTOXIC/
SIGNAL oncology resources for healthcare
POTENTIATORS
TRANSDUCTION professionals
INHIBITORS
Exploit defects
in repair and
Blocks cancer Pfizer Strategy:
cycle cells
growth signals
Created Business Unit focused on Oncology
Pursue continuous cycle of new indications
in different tumor types
Accelerate clinical trial enrollment &
Largest Oncology Pipeline with
execution
22 compounds in development
Supplement with business development
Leverage biotech assets
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* Towers Perrin

12. Promising Commercial Potential
From Our Phase 3 Portfolio
axitinib – Pancreatic Cancer PD-332334 – GAD
apixaban – VTE Prevention esreboxetine – Fibromyalgia
NMEs CP-945598 – Obesity Zithromax/chloroquine – Malaria
CP-751871 – Lung Cancer PF-1228305 (Thelin) – PAH
Dimebon* - Alzheimer’s
apixaban –
Atrial Fibrillation
New apixaban –
Indications VTE Treatment
/
axitinib –
Renal cell cancer
* Pending HSR approval
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13. Two Distinct, Yet Complementary
Strategic Growth Initiatives
Established Products Emerging Markets
• Medicines that have lost – or are • Asian, Latin American and
about to lose – patent protection Eastern European countries
with growing economies and
• Fastest growing segment of the middle-class populations
global pharmaceutical market demanding quality healthcare
Market Opportunity
Market Opportunity:
$152B in 2007 $267B by 2012
$271B in 2006 $523B in 2012
What Makes Pfizer’s Initiatives Different From Those
of Other Companies ?
Why Are We Confident We Will Succeed ?
Source: IMS, Internal Analysis
13

14. Established Products
$523B Opportunity by 2012
Dispensing Drivers: Payers and
Pharmacy Channel, with Physician Branded Emerging Markets
Branded Traditional Markets
and Pharmacy Influence
IP-Driven Markets
Brand: Moderately Important
2012 Size: $130B
LOE Cliff: Moderate
Dispensing Drivers:
Payers and Pharmacy
Channel
Brand: Less Important
2012 Size: $150B
Dispensing Drivers:
LOE Cliff: Steepest
Physician and Pharmacist
Brand: Very Important
2012 Size: $235B
LOE Cliff: Smallest
Source: Datamonitor; EvaluatePharma; analyst reports.
14

15. Unlocking the Value in Established
Products – Strategy Overview
Strengths Focus Goals
Brand equity A leader in
1
Oral solid dose
and breadth the LOE Market
Product quality
and reliability Product
enhancements and
A leading provider
Global reformulations
2 of low cost
presence
medicines
Technology “Niche” markets
innovation
Outpace market
Partnerships
3
Late stage growth
lifecycle planning
Experienced
local talent
15

16. Emerging Markets
$267B Opportunity by 2012
Global Pharma Revenues ($ Billions)
CAGR
267
Brazil………….. 10%
152 China………….. 20% Top-priority Areas
India…………… 13% Expected to Grow
Mexico………….. 7%
154 13% CAGR and
$71 Billion by
Russia………… 16%
2012
South Korea….. 9%
83 Turkey………… 14%
7 Priority
Markets
113
All Other 69
2007 2012
Source: IMS Health (Market Prognosis)
16

17. We’re Already On Our Way…
BRAZIL TURKEY
All major products lack IP protection
Double-digit brand growth for both patent
protected and LOE products 8 product launches in 2008; 1 to go
Sutent, +270% since launch Expanded field force ~ 50% since 2006
More nimble, flexible use of marketing Pfizer presence since 1957
strategies
Pfizer presence since 1952
CHINA RUSSIA
Norvasc #1 anti-hypertensive – even Significant potential for growth; per
though off patent 5 years capita Rx consumption <$50
Field force expansion ahead of schedule Sutent, Champix launches planned
Asian-specific clinical research – Aim to expand sales force 40% by 2011
oncology center of excellence Pfizer presence since 1992
Pfizer presence since early 1980’s
17

18. Growing in Emerging Markets –
Strategy Overview
Strengths Focus Goals
Brand equity
and breadth New segments
A leading Pharma
1
Global Scale company in our
7 priority areas
Leading market
R&D Presence
growth where we
are already present
Grow faster than
Established,
2 the broader
experienced
Pharma market
local talent
Products and
Global Access
Partnerships
initiatives
18

19. Innovation Focuses on Three Areas
Customer Centricity
Create access to Optimize our
Create access to Optimize our
new markets, new interactions with
new markets, new interactions with
business models, and in support of
business models, and in support of
and differentiated customers (e.g.,
Identify New Optimize Our
and differentiated customers (e.g.,
Sources of Go-To-Market
customer physicians, payers,
customer physicians, payers,
Growth Model
experiences pharmacies,
experiences pharmacies,
employers and
employers and
consumers)
consumers)
Build Flexible
Capabilities
Develop capabilities to ensure flexible and
Develop capabilities to ensure flexible and
responsive use of resources and produce
responsive use of resources and produce
the greatest value for our customers
the greatest value for our customers
19

20. Innovating the Business Model: Europe
Benefits Realized
Change
Replaced ALL traditional sales reps with Key Account
Managers, who changed their focus from GPs to new
customers and influencers
Sweden
More resources allocated to support optimal product usage
Lipitor sales went from flat-to-negative to +4% operational
growth in 1H2008
Reduced GP field force 25%; created new tiered customer
engagement model
Germany
Fully integrated team at the regional level accountable for
entire portfolio
Positive customer response
UK
Re-engineered traditional field based approach; changed
400 traditional reps to 100 account managers
20

21. Innovating the Business Model: US
In Place Today Pilots to be Scaled New Models in Development
Needs Based Selling
Account Mgt. Closed-Loop Marketing
Medical
State Planning E-detail
Rep visit
Customized
Tactics Behavioral Model Regional Business Unit
Regional General
Manager
P&L Talent Mgmt
21

22. Cumulative Progress on Cost-Reduction
Target (Second-Quarter 2008)
On-track to reduce absolute
Cost Reduction
adjusted total costs1 by at
Period
(2006 Currency Rates)
least $1.5 to $2.0 billion on a
constant currency basis2 for
FY2007 $600 Million 2008 vs. 2006
Q1 ’08 $170 Million Cumulative operational cost
reduction of $1.2 billion
Q2 ’08 $465 Million
Reduction even after inflation
and reinvestment in the
Total $1.2 Billion
business
Much of the Remaining Cost Reductions
Expected to Be Realized in the Fourth-Quarter 2008
1 “Adjust income” and its components are defined as reported net income and its components excluding purchase-accounting adjustments, acquisition-
related costs, discontinued operations and certain significant items. Adjust Total Costs represents the total of Adjusted Cost of Sales, Adjusted SI&A
and Adjusted R&D
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2 Constant currency basis means that the applicable projected financial measure is based upon the actual foreign exchange rates in effect during 2006 .

23. Our Path Forward:
Strategies for Growth
US Lipitor Post
Today
LOE Lipitor
Optimize the Patent-Protected Portfolio
Maximize the Value of New and Inline Products
Advance Compounds in the Pipeline
Maximize
Capitalize on Established Products
Revenues Sustainable
TSR Growth
Grow in Emerging Markets
Revenue
Invest in Complementary Businesses growth
EPS
Aggressively Manage Costs growth
Flexible
Cost Create More Flexible Operating Model
Base
Continuous Improvement in Processes
Innovate Our Business Model
23