As of Q4'25, Pfizer's R&D Expenses reached 3.42B USD, while SG&A Expenses stood at 3.73B USD. This marks the highest quarterly level for R&D Expenses in the period shown, with SG&A also showing a notable increase compared to previous quarters. From Q1'23 to Q4'25, both R&D and SG&A Expenses exhibited a generally upward trend with periodic fluctuations. R&D Expenses saw significant spikes in Q4'24 and Q4'25, while SG&A Expenses peaked in Q4'23 and Q4'24 before rising again in Q4'25. Overall, the data indicates seasonal increases in both expense categories, particularly in the final quarter of each year, suggesting cyclical spending patterns for Pfizer over this time frame.