Overview
- Pfizer reported first‑quarter revenue of $14.5 billion and adjusted earnings of $0.75 per share, both above Wall Street estimates.
- Revenue excluding COVID products grew 7% on an operational basis as launched and acquired medicines rose 22%, led by Padcev, Nurtec, oncology biosimilars, and Eliquis.
- COVID sales kept falling, with Comirnaty vaccine revenue down 59% operationally and Paxlovid antiviral revenue down 63%.
- The company reaffirmed 2026 guidance for $59.5 billion to $62.5 billion in revenue and $2.80 to $3.00 in adjusted EPS, with the midpoint below recent analyst forecasts.
- Profitability softened, with reported net income down 9% to $2.69 billion, while Pfizer increased R&D focused on oncology and obesity and set plans to begin about 20 pivotal studies in 2026.