Overview
- Quarterly revenue reached $17.56 billion versus $16.95 billion expected and adjusted EPS came in at $0.66 versus $0.57, but Pfizer recorded a $1.6 billion net loss after about $4.4 billion in impairments.
- Covid products continued to decline, with Comirnaty vaccine sales down roughly 35% and Paxlovid down about 75%, partly offset by demand for Eliquis and RSV vaccine Abrysvo.
- Pfizer reaffirmed 2026 guidance for $59.5–$62.5 billion in revenue and $2.80–$3.00 in adjusted EPS, incorporating pricing pressures and the impact of generic competition.
- Management outlined around 20 pivotal trial starts in 2026, about half in ultra-long-acting obesity programs acquired with Metsera, with first potential obesity approvals targeted for 2028.
- The company reiterated that no share repurchases are planned for 2026, is targeting roughly $7.7 billion in cost savings by end-2027, and its stock fell about 3% after the announcement.