PRICING AGREEMENT

Exhibit 1.2

PRICING XXXXXXXXX

Xxxxx 00, 0000

XxxX Securities, Inc.

Xxx Xxxxxx Xxxx

Xxx Xxxx, Xxx Xxxx 00000

Credit Suisse Securities (USA) LLC
Eleven Madison Avenue
New York, New York 10010

Xxxxxx Xxxxxxx & Co. LLC
0000 Xxxxxxxx
Xxx Xxxx, XX 00000

As Representatives of the several Underwriters

Ladies and Gentlemen:

Pfizer Inc., a Delaware corporation (the “Company”), proposes, subject to the terms and conditions stated herein and in the Underwriting Agreement, dated March 25, 2020 (the “Underwriting Agreement”), between the Company and the Representatives of the several Underwriters to issue and sell to each of the Underwriters named in Schedule I hereto (the “Underwriters”) the Securities specified in Schedule II hereto (the “Designated Securities”). Each of the provisions of the Underwriting Agreement is incorporated herein by reference in its entirety, and shall be deemed to be a part of this Agreement to the same extent as if such provisions had been set forth in full herein; and each of the representations and warranties set forth therein shall be deemed to have been made at and as of the date of this Pricing Agreement, except that each representation and warranty which refers to the Prospectus in Section 2 of the Underwriting Agreement shall be deemed to be a representation or warranty as of the date of the Underwriting Agreement in relation to the Prospectus (as therein defined), and also a representation and warranty as of the Applicable Time in relation to the Pricing Disclosure Package and Prospectus as amended or supplemented relating to the Designated Securities which are the subject of this Pricing Agreement. Each reference to the “Representatives” herein and in the provisions of the Underwriting Agreement so incorporated by reference shall be deemed to refer to you. Unless otherwise defined herein, terms defined in the Underwriting Agreement are used herein as therein defined. The Representatives designated to act on behalf of the Representatives and on behalf of each of the Underwriters of the Designated Securities pursuant to Section 12 of the Underwriting Agreement and the address of the Representatives referred to in such Section 12 are set forth at the end of Schedule II hereto.

An amendment to the Registration Statement, or a supplement to the Prospectus, as the case may be, relating to the Designated Securities, in the form heretofore delivered to you is now proposed to be filed with the Commission.

Subject to the terms and conditions set forth herein and in the Underwriting Agreement incorporated herein by reference, the Company agrees to issue and sell to each of the Underwriters, and each of the Underwriters agrees, severally and not jointly, to purchase from the Company, at the time and place and at the purchase price to the Underwriters set forth in Schedule II hereto, the principal amount of Designated Securities set forth opposite the name of such Underwriter in Schedule I hereto, plus any additional principal amount of Designated Securities which such Underwriter may become obligated to purchase pursuant to the provisions of Section 9 of the Underwriting Agreement.

If the foregoing is in accordance with your understanding, please sign and return to us four counterparts hereof, and upon acceptance hereof by you, on behalf of each of the Underwriters this letter and such acceptance hereof, including the provisions of the Underwriting Agreement incorporated herein by reference, shall constitute a binding agreement between each of the Underwriters and the Company. It is understood that your acceptance of this letter on behalf of each of the Underwriters is or will be pursuant to the authority set forth in an Agreement among Underwriters, the form of which shall be submitted to the Company for examination upon request, but without warranty on the part of the Representatives as to the authority of the signers thereof.

[Signatures follow]

Very truly yours,

PFIZER INC.

By:_/s/ Xxxxx Byala______________
Name: Xxxxx Byala
Title: Senior Vice President and Treasurer

[Signature Page to the Pricing Agreement]

Accepted as of the date hereof:

BOFA Securities, InC,
as a Representative of the Underwriters

By:_/s/ Xxxxxx X. Little______________
Name: Xxxxxx X. Xxxxxx
Title: Managing Director

Credit Suisse Securities (USA) LLC,
as a Representative of the Underwriters

By:_/s/ Xxxxxxxxxxx Murphy__________
Name: Xxxxxxxxxxx Xxxxxx
Title: Managing Director

Xxxxxx Xxxxxxx & Co. LLC,
as a Representative of the Underwriters

By:_/s/ Ian Drewe__________________
Name: Ian Drewe
Title: Executive Director

[Signature Page to the Pricing Agreement]

SCHEDULE I

Underwriters			Principal Amount of Notes
BofA Securities, Inc.			$325,000,000
Credit Suisse Securities (USA) LLC			$325,000,000
Xxxxxx Xxxxxxx & Co. LLC			$325,000,000
Deutsche Bank Securities Inc.			$75,000,000
RBC Capital Markets, LLC			$75,000,000
BNP Paribas Securities Corp.			$43,750,000
Standard Chartered Bank			$43,750,000
Academy Securities, Inc.			$12,500,000
Xxxxxxx Xxxxxxxx Shank & Co., LLC			$12,500,000
Xxxxxx X. Xxxxxxx & Company, Inc.			$12,500,000
Total			$1,250,000,000

SCHEDULE II

Title of Designated Securities:

2.625% Notes due 2030 (the “ Notes”)

Commission File Number of Initial Registration Statement:

333-223221

Aggregate Principal Amount:

$1,250,000,000

Price to Public:

99.650% of the principal amount, plus accrued interest, from Xxxxx 00, 0000

Xxxxxxxx Price by Underwriters:

99.200% of the principal amount, plus accrued interest, from March 27, 2020

Form of Designated Securities:

Book-entry only form represented by one or more global securities deposited with the depositary or its designated custodian, to be made available for checking by the Representative at least twenty-four hours prior to the Time of Delivery at the office of the depositary.

Specified Funds for Payment of Purchase Price:

Wire transfer of immediately available funds.

Indenture:

Indenture dated September 7, 2018, between the Company and The Bank of New York Mellon as supplemented by the third supplemental indenture to be dated March 27, 2020 between the Company and The Bank of New York Mellon.

Maturity:

April 1, 2030

Interest Rate:

2.625% per annum

Interest Payment Dates:

April 1 and October 1 of each year, beginning on October 1, 2020

Record Dates:

March 15 or September 15 immediately preceding the relevant Interest Payment Date

Redemption Provisions:

The Notes may be redeemed in whole or in part at the price(s) described in the Prospectus relating to the Notes.

Sinking Fund Provisions:

None.

Defeasance Provisions:

As described in the Basic Prospectus dated February 26, 2018.

Applicable Time:

1:20 P.M. New York City time on March 25, 2020

Issuer Free Writing Prospectuses:

Pricing Term Sheet dated March 25, 2020, as filed under Rule 433

Recently Filed Documents for Section 2(d) of the Underwriting Agreement:

None.

Time of Delivery:

10:00 A.M. New York City time on March 27, 2020

Closing Location:

Xxxxxxx Xxxxxxx & Xxxxxxxx LLP, 000 Xxxxxxxxx Xxxxxx, Xxx Xxxx, XX 00000.

Additional Agreements of the Underwriters:

Each of the Underwriters has agreed that it will not offer, sell, or deliver any of the Designated Securities, directly or indirectly, or distribute the Prospectus or any other offering material relating to the Designated Securities, in or from any jurisdiction except under circumstances that will, to the best of the Underwriters’

knowledge and belief, result in compliance with the applicable laws and regulations and which will not impose any obligations on the Company.

Each of the Underwriters agrees to abide by the offering restrictions as set forth under the following captions in the Prospectus:

“Underwriting—Notice to Prospective Investors in the European Economic Area and the United Kingdom”,
“Underwriting—Notice to Prospective Investors in the United Kingdom”,
“Underwriting—Notice to Prospective Investors in France”,

“Underwriting—Notice to Prospective Investors in Switzerland”,
“Underwriting—Notice to Prospective Investors in Hong Kong”,
“Underwriting—Notice to Prospective Investors in Japan”,
“Underwriting—Notice to Prospective Investors in Singapore” and
“Underwriting—Notice to Prospective Investors in Canada”.

Contact Information for Representatives for purposes of Section 12 of the Underwriting Agreement:

BofA Securities, Inc.

00 Xxxxxxxxxxx Xxxxx, XX0-000-00-00

Xxx Xxxx, Xxx Xxxx 00000

Fax No.: (000) 000-0000

Attention: High Grade Debt Capital Markets Transaction Management/Legal

Credit Suisse Securities (USA) LLC

Eleven Xxxxxxx Xxxxxx

Xxx Xxxx, Xxx Xxxx 00000

Attention: IBCM-Legal

Fax No.: (000) 000-0000

Xxxxxx Xxxxxxx & Co. LLC

0000 Xxxxxxxx, 00xx Xxxxx

Xxx Xxxx, Xxx Xxxx 00000

Fax No.: (000) 000-0000

Attention: Investment Banking Division

Information furnished by the Underwriters for purposes of Sections 2(b), 2(c), 2(d), 2(e), 8(a), 8(b) and 16(c) of the Underwriting Agreement:

The information in the last paragraph of the cover page of the Prospectus.

The information set forth in the third, fourth and ninth paragraphs under the caption “Underwriting”.

The information in the third sentence of the tenth paragraph and the second sentence of the thirteenth paragraph under the caption “Underwriting”.

No other information in the Prospectus has been furnished by the Underwriters for use therein.