Martin Mackay, president of Pfizer's global research and development, presented strategies to drive growth after Lipitor loses patent exclusivity. He outlined plans to (1) optimize existing drugs and advance compounds in development, (2) maximize revenues from new and established products including emerging markets, and (3) create a more flexible cost structure. Key focus areas include oncology, pain, and immunology. Pfizer's pipeline includes several phase 3 programs and potential new indications for priority drugs like Sutent and axitinib. Recent business development deals strengthened oncology and biologics research.

1. Goldman Sachs
Global Healthcare Conference
Martin Mackay
President, Global Research & Development
June 11, 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 may 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 Report on Form 8-K dated April 17, 2008.
These reports are available on our website at www.pfizer.com
in the “Investors—SEC Filings” section.

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

4. 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
growth
Invest in Complementary Businesses
EPS
Aggressively Manage Costs growth
Flexible
Cost Create More Flexible Operating Model
Base
Continuous Improvement in Processes
Innovate Our Business Model

5. Optimizing The Patent Protected Portfolio
Pipeline as of Feb 28, 2008
Approved
Selzentry
More than
300 Lyrica for
Phase 1 Phase 2 Phase 3 In Reg.
Discovery Fibromyalgia
47 37 16 2
Projects fesoterodine
(EU)
Accelerating Pipeline with sharpened focus on
key disease areas
Strong flow of medicines expected to progress from
Phase 2 to Phase 3

6. Aggressive Goal To Rebuild Our
Phase 3 Portfolio
Total of 15–20 Phase 3 starts 2008–2009
Phase 3 total programs grow to 24–28 by December 2009
15–20 regulatory submissions between 2010–2012

7. Today’s Phase 3 Portfolio
axitinib – Pancreatic Cancer PD-332334 – GAD
apixaban – VTE Prevention S,S-reboxetine – Fibromyalgia
NMEs
CP-945598 – Obesity Zithromax/chloroquine – Malaria
CP-751871 - Lung Cancer PF-1228305 (Thelin) – PAH
New apixaban –
Indications Atrial Fibrillation
/
apixaban –
VTE Treatment

8. Projected 15–20 Phase 3 Starts 2008–2009
CP-751871 PF-885706 – GERD PF-868554 PF-734200
– Lung Cancer – HCV – Diabetes
PF-299804 – Cancer
PF-4383119 PF-4194471 PF-4522625
PH-797804 – RA
– OA Pain – HIV – Seasonal Flu
NMEs IV sulopenem/Oral
PD-200390 CP-690550 UK-453061
sulopenem pro-drug
– Insomnia – RA – HIV
– Bacterial Infections
UK-369003 –
LUTS
apixaban – VTE
PF-4383119
treatment
– Chronic Pain
apixaban – ACS
New S,S-reboxetine – DPN
axitinib – RCC &
Indications sildenafil citrate IV
Lung

9. Pfizer Disease Area Priorities
Invest to Win
First or High Market High
Best in Class Growth Unmet Need
Oncology
Pain
Immunology/Inflammation
Diabetes/Obesity
Alzheimer’s Disease
Schizophrenia

10. Recent Oncology Phase 3 Starts
Phase 3 Starts Since ASCO 2007
Sutent First line CRC
Sutent Second line NSCLC
Sutent Adjuvant RCC
Axitinib Pancreatic cancer
CP-751871 First line NSCLC
CP-751871 Refractory NSCLC
Phase 3 Trials Expected to be Initiated in 2008
Sutent First line HCC
Sutent Second line mHRPC
Axitinib Second line mRCC
Axitinib First line NSCLC
CP-751871 First line NSCLC

11. Potential New Indications Expected
To Drive Value
Colorectal
es
nu
ve
Non Small Cell Lung
Re
Hepatocellular Carcinoma
Breast
Renal Cell Carcinoma & Gastrointestinal Stromal Tumor
Time

12. Pfizer Oncology Clinical Portfolio
TSP-1
Platform Key
(CVX-045)*
Anti-Angiogenesis
Ang-2 Ant
(CVX-060)* Transitions Since
ASCO 2007 Signal Transduction
ALK1 mAb
(PF-3446962)
Immunotherapy
sVEGFR
(PF-337,210) Cytotoxic/
Potentiators
mRTK
P-Cad mAb (SU-14,813)
(PF-3, 732,010)
Pan-ErbB
FAK Sutent®
(PF-00299804)
(PF-562,271)
Sutent®
EGFRvlll
C-Met
Aromasin®
(CDX-110)
(PF-2,341,066)
Axitinib
(AG-013,736)
Tremelimumab
C-Met BU
Camptosar®
(CP-675,206)
(PF-4217903)
IGF-1R mAb
TLR9 (CP-751,871)
Hsp90
Ellence ®
(PF-3,512,676)
(SNX 5422)
CD40 mAb PARP
(CP-870,893) AG-14,699 *Pfizer Biotherapeutics and Bioinnovation Center
CDK 4/6
(PD-332991)
CHK1
(PF-477,736)
AUR2
(PF-3,814,735
13 6 3 4
Phase I Phase 2 Phase 3 Approved

13. Axitinib Phase 3 First or High Market High Unmet
Best in Class Growth Need
In 1st Line NSCLC
Axitinib demonstrates activity as a single-agent in refractory NSCLC
patients (14.6 months median survival)
Axitinib demonstrates good combinability with chemotherapy
Overall Survival Phase 3 Study Design
1.0
R
R
A
A
0.8 Axitinib +
N
N
Gem/Cis
Survival Probability
D
D
O
0.6 Stage IIIb or O
M
IV NSCLC M
II
n=1000
0.4 Z
Z
A
A
T Placebo +
T
0.2 Median Overall Survival: 14.6 months
II Gem/Cis
(95% CI: 107, undefined)
O
O
N
0.0 N
0 5 10 15 20
Establish Efficacy of Axitinib
Survival Time (Months)
in 1st Line NSCLC
Schiller et al., ASCO 2007

14. CP-751871: First or High Market High Unmet
Best in Class Growth Need
Phase 2 NSCLC Activity
Carboplatin/Paclitaxel
Treatment-naïve Stage IIIB/IV
NSCLC Patients Carboplatin/Paclitaxel + CP-751,871
Overall Population Dose (mg/kg) 0 10 20
Sample size (n) 50 46 53
100
Dose:
Median PFS (months) 4.3 3.6 5.0
0
80
10
p = 0.017
20
60
Population
20 mg/kg demonstrated
40
significantly improved PFS
20
Highest ORR in squamous
histologies linked to highest PFS
0
(5.6mo @ 20mg/kg)
0 50 100 150 200 250 300 350
Time (Days)
Karp et al ASCO 2008

15. Recent Oncology Licensing And Acquisitions
Company/Compound Value to Pfizer Portfolio
Novel vaccine in Phase 2b/3 for GBM
Avant – license
CDX-110 (EGFRvIII vaccine) High unmet medical need
Serenex – acquisition Phase I, novel mechanism
SNX-5422 (Hsp90 inhibitor) Complementary to portfolio
Two Phase I agents
CovX – acquisition
CVX 045 (thrombospondin), Novel anti-angiogenesis mechanisms
CVX 060 (angiopoietin)
Expands vaccine development capability
Coley – acquisition
Vaccine platform, TLR-7 and TLR-9 Strengthens immuno-oncology portfolio
programs

16. First or High Market High Unmet
CP-690550: Best in Class Growth Need
JAK-3 Inhibitor
RA Phase 2a Response Rate
100
80
60
40
20
0
0 2 4 6
Weeks
Phase 2b dose ranging in rheumatoid
Placebo 5 mg 15 mg 30 mg
arthritis ongoing – anticipate
Kremer JM et al, ACR 2006 presentation at ACR 2008
Simultaneous Development Programs in Psoriasis, Transplant
Rejection, Rheumatoid Arthritis and Crohn’s Disease

17. PF-4383119 (RN-624): First or High Market High Unmet
Best in Class Growth Need
Nerve Growth Factor Inhibitor
Heavy
Projected 1st Biotherapeutic for Pain
Chain
Blocks Nerve Growth Factor (NGF)
Humanized monoclonal antibody
NGF
Efficacy demonstrated in Phase 2
osteoarthritis (OA) pain study
Favorable safety profile to date
>600 patients treated
Light
Chain

18. PF-4383119:
Osteoarthritis Knee Pain
Single IV Infusion: Mean Change from Baseline (mm) Over 8 Weeks
Panel 1 Panel 2
Baseline Pain = 43–46 mm Baseline Pain = 54–60 mm
n=12 n=6 n=6 n=6 n=26 n=27 n=26
0
-5
-10
-15
-20
-25
*
*
-30 *
*
-35
Placebo 0.1 mg/kg 0.3 mg/kg 1.0 mg/kg
Encouraging Phase 1/2 Efficacy and Safety Data
* p<0.05 vs placebo

19. 86 Biotherapeutics In The Pipeline
Research Development Marketed
60 26 5
$1.4 B 2007
Diverse Portfolio Revenues
8 TAs
(dalteparin sodium injection)
(interferon beta-1a)
6 Modalities
53 MAbs
8 Vaccines
(pegvisomant for injection)

20. Rebuilding The Phase 3 Portfolio
Number of Phase 3 Programs
24–28
22–24
16
Mar '08 Mar '09 Dec '09
Projected Projected
NMEs New Indications

21. Building Momentum
Sutent, Champix, Approved for GIST and RCC, Smoking Cessation, PAH (Japan)
sildenafil
Zithromac SR, Xalacom, Submitted for Bacterial Infections, Glaucoma, HIV Treatment
Experienced Patients (Japan)
Maraviroc
Lyrica, Fablyn Submitted for Fibromyalgia, Osteoporosis Treatment (Europe)
CP-751871, Geodon Adj Depression, apixaban (VTE treatment)
Advanced to Phase 3 Sutent CRC, axitinib and Neurontin Peds (Japan)
Potential New Oncology Sutent and axitinib
Indications
Avant, Encysive, Serenex, CovX
Business Development
3 POCs, 13 FIPs, 8 FIHs
Early Portfolio

22. Goldman Sachs
Global Healthcare Conference
Martin Mackay
President, Global Research & Development
June 11, 2008