Pfizer má dividendový výnos 6,8 % a vedení chce dividendu udržet i zvyšovat. V 1. čtvrtletí pokryl hotovostní tok výplatu dividendy 2,445 miliardy USD.
Pfizer (PFE -0.20%) has a shockingly high dividend yield of 6.8%. The S&P 500 Index (^GSPC +0.05%) has a 1% yield, and the average pharmaceutical stock's yield is roughly 1.5%. Given that huge disparity, it looks like Pfizer's yield is too good to be true.
There are reasons for the high yield that need to be monitored. However, management doesn't seem too worried about the dividend. Here are some reasons why, and why you might want to buy ultra-high-yield Pfizer.
Pfizer's management is focused on maintaining the dividend Pfizer's dividend, like all dividends, is paid at the discretion of the board of directors. That said, the company's management team has been very clear about its support for the dividend. The dividend was mentioned directly on two slides in the first-quarter 2026 earnings presentation. One slide, focused on 2026 capital allocation priorities, stated that the company wants to "maintain and grow our dividend." A second slide, directed at longer-term growth, made "maintain dividend" a stated goal.
Image source: Getty Images.
If the board was actively considering cutting the dividend, management wouldn't likely have mentioned the dividend on those two slides. Meanwhile, it is important to examine what supports the dividend. The answer isn't earnings, which are under pressure right now, because a company's dividend payments appear on its cash flow statement. The number is fairly large for Pfizer, with the first-quarter dividend payment totaling $2.445 billion. Annualize that, and you get nearly $10 billion.
The company generated $2.6 billion from operating activities, which actually covers the dividend. However, the dividend isn't the only thing the company has to pay for. After paying dividends, paying down debt, and investing in its business, the company's cash balance at the end of the first quarter was higher than at the start. And not just a little higher, $560 million higher. The source of the extra cash was Pfizer selling long-term investments. Turning to the balance sheet, the company still has $11.3 billion in long-term investments, in addition to $1.7 billion in cash.
Watch Pfizer's dividend, but there's plenty to support it This isn't meant to suggest that investors should simply ignore the headwinds Pfizer is facing today. While the company looks capable of supporting the dividend, investors are worried about the pharmaceutical company's future, which has pushed the stock lower and the yield higher. That said, most of the problems the company faces are normal for the pharmaceutical industry.
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For example, Pfizer has several blockbuster drugs set to lose patent protection. However, its research and development haven't yet produced new drugs to fill the gap. In fact, the company has clearly fallen behind peers in the hot GLP-1 weight-loss space, after it had to stop work on a drug there in 2025. The thing is, R&D doesn't work on a timeline, even though patent expirations do. Sometimes things just don't line up as well as investors would like.
Pfizer has a long and successful history of developing drugs. Notably, in the case of GLP-1 drugs, it quickly adjusted and bought another company with a more attractive drug candidate. And it has numerous drugs working through the approval process beyond it, as well.
Think long-term with Pfizer Pfizer is still a well-run drug company. It is just working through a difficult period, which has Wall Street worried about the future. If you think long-term, however, you may want to consider buying Pfizer and its outsize yield while everyone else is scared. The company is clearly standing behind the dividend, and when you dig a little deeper, it appears to have the wherewithal to keep supporting it.
Pfizer získal od americké FDA prioritní přezkum pro rozšíření indikace kombinace Talzenna a Xtandi u rakoviny prostaty s metastázami a mutacemi HRR. Rozhodnutí se očekává ve 4. čtvrtletí roku 2026.
The Pfizer logo is seen in this illustration taken August 3, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
CompaniesJuly 22 (Reuters) - Pfizer (PFE.N), opens new tab said on Wednesday the U.S. Food and Drug Administration has granted priority review to its application seeking expanded approval for its prostate cancer treatment combination.
The company sought expanded approval to use a combination of two approved drugs branded as Talzenna and Xtandi in men with metastatic castration-sensitive prostate cancer, whose tumors have acquired gene changes known as HRR mutations.
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Talzenna and Xtandi are already approved in the United States for men whose prostate cancer has spread to other parts of the body and stopped responding to hormone therapy.
For the combination drug, Pfizer said the FDA had set a target decision date in the last quarter of 2026.
Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Shailesh Kuber and Pooja Desai
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Key Takeaways Pfizer's Q2 non-oncology outlook includes gains for Eliquis and Vyndaqel amid mixed portfolio trends.PFE's Comirnaty and Paxlovid sales are expected to decline on lower demand and purchases.Pfizer's Abrysvo may gain internationally, while U.S. vaccination rates remain weaker. Pfizer (PFE - Free Report) will announce its second-quarter 2026 earnings on Aug. 4, and investors will be watching the performance of its oncology business closely, as the segment generates nearly 27% of the company's total revenues. Its key cancer medicines include Ibrance, Xtandi, Lorbrena, Braftovi/Mektovi and Seagen-acquired antibody-drug conjugate, Padcev.
Apart from oncology, Pfizer has a broad portfolio spanning primary care, vaccines, inflammation and immunology, rare diseases, and other specialty therapies. These businesses are organized under the company's Primary Care and Specialty Care segments.
Here’s a closer look at the expected second-quarter performance of Pfizer’s therapies across these two non-oncology business segments.
In Primary Care, alliance revenues and direct sales from Bristol-Myers (BMY - Free Report) -partnered Eliquis are likely to have risen, driven by higher demand trends globally, partially offset by price and generic erosion in some ex-U.S. markets. As regards sales of key vaccine Prevnar, higher sales in ex-U.S. markets are likely to have been offset by the impact of lower demand in the United States.
The Zacks Consensus Estimate for alliance revenues from Eliquis is $1.98 billion.
The Zacks Consensus Estimate for sales of the Prevnar family of vaccines is $1.39 billion.
Pfizer records direct sales and alliance revenues from its partner, BioNTech (BNTX - Free Report) , for the COVID-19 vaccine, Comirnaty. Revenues from Pfizer/BioNTech’s Comirnaty are likely to have declined in the second quarter due to narrower COVID-19 vaccine recommendations in the United States that have reduced Comirnaty’s eligible patient population. Sales of the antiviral pill for COVID, Paxlovid, should also have declined due to lower infection rates, which hurt demand trends and lower international government purchases.
The Zacks Consensus Estimate for direct sales and alliance revenues from Comirnaty is $278 million, while that for Paxlovid is $119.0 million.
Among the newer products, sales of the RSV vaccine, Abrysvo, are likely to have gained from launch uptake in some international markets, partially offset by weaker vaccination rates in the United States. The Zacks Consensus Estimate for sales of Abrysvo is $155 million.
In the Specialty Care unit, sales of Vyndaqel are expected to have risen as higher sales in international markets may offset lower revenues in the United States. The Zacks Consensus Estimate for sales of Vyndaqel/Vyndamax is $1.75 billion.
While sales of Xeljanz rose, those of Enbrel declined in the first quarter, a trend likely to have continued in the second quarter.
Pfizer’s Key CompetitorsIn inflammation & immunology, Pfizer’s key competitors include AbbVie, Johnson & Johnson, Amgen and Novartis. In areas such as diabetes, cardiovascular disease, obesity, and other chronic conditions, Pfizer faces competition from Eli Lilly, Novo Nordisk, Merck, AstraZeneca, and Sanofi. In vaccines, it competes primarily with Merck, GSK, Sanofi, and Moderna.
PFE’s Price Performance, Valuation and EstimatesPfizer’s stock has risen 2.8% so far this year compared with an increase of 12.7% for the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, Pfizer appears attractive relative to the industry and is trading below its five-year mean. Going by the price/earnings ratio, Pfizer’s shares currently trade at 8.55 forward earnings, significantly lower than 18.88 for the industry as well as the stock’s five-year mean of 9.34.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings has declined from $2.99 per share to $2.96 per share, while that for 2027 has declined from $2.86 per share to $2.85 per share over the past 30 days.
Image Source: Zacks Investment Research
Pfizer has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Akcie Pfizeru jsou od vrcholu z konce roku 2021 níže o více než 50 %, což vytlačilo dividendový výnos na historicky vysokých 6,9 %. Investoři ale řeší blížící se expirace patentů a poměr výplat dividend nad 130 %.
Shares of Pfizer (PFE 0.22%) have fallen more than 50% from their late 2021 highs. That massive drawdown has pushed the dividend yield up to a historically high 6.9%. To put that yield into perspective, the S&P 500 index (^GSPC 1.01%) has a yield of roughly 1.1%, and the average pharmaceutical stock's yield is around 1.5%. As a dividend stock, Pfizer looks historically cheap and relatively cheap. Here's what's going on and why you might want to add this drug maker to your shortlist.
Pfizer has some problems to deal with Companies don't end up with outsize yields for no reason. Pfizer has several major patent expirations coming up. When a blockbuster drug loses patent protection, generic competition typically enters and revenues decline. This is why drug companies are always on the lookout for new drugs.
Image source: Getty Images.
On the new drug front, Pfizer hasn't been seeing the success Wall Street would like to see. Notably, it had to drop a GLP-1 weight-loss drug it was developing in early 2025. That was a public black eye, since it put the company well behind competitors.
There are very good reasons why investors are worried about Pfizer. And, notably, the dividend payout ratio is above 130%. There's also legitimate concern about the dividend's safety.
Things don't always line up in the business world There are definitely things for dividend investors to worry about with Pfizer, and conservative types may want to avoid it. However, there's really nothing out of the ordinary going on with the company. Patent expiration dates and new drug development don't always align the way a company would like. But Pfizer has a long and successful history in the drug sector, so it seems highly likely it will navigate this transition period.
Notably, after its GLP-1 mishap, Pfizer quickly announced the acquisition of a company with a more promising weight-loss drug candidate. It has other notable drugs in its pipeline as well.
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On the dividend front, the company's cash flows still cover the payment. Since dividends are paid out of cash flows, Pfizer has more wiggle room than it may seem to support the dividend (including using cash on its balance sheet and taking on additional debt). Management has also been very clear that protecting the dividend is a key priority.
Worth a risk for those willing to invest in out-of-favor stocks Risk-averse investors probably won't like Pfizer. But given the company's strong history, the moves it is making to address the totally normal headwinds it faces, and its stated commitment to the dividend, more aggressive dividend investors may find this cheap income stock compelling enough to put on their shortlists.
Pfizer za posledních šest čtvrtletí vyplatil na dividendách 14,6 miliardy USD, zatímco jeho cash dividend payout ratio činil 103 %. Firma přesto říká, že udržení dividendy je prioritou.
The big reason to buy Pfizer (PFE 0.22%) right now is its huge 7% dividend yield. To put that into perspective, the S&P 500 index (^GSPC 1.01%) yields a tiny 1%, and the average pharmaceutical stock yields 1.5%. The big risk with buying Pfizer for its outsize yield is that the dividend could be cut. Here's a look at the problem.
Pfizer's spending a lot of cash on its dividend In 2025, Pfizer paid roughly $9.8 billion in dividends. Through the first half of 2026, it paid roughly $4.8 billion. That's a total of $14.6 billion in dividends over the last six quarters. It is a lot of money going out the door at a time when the company needs cash to pay for other things.
Image source: Getty Images.
The most notable other thing this pharmaceutical giant is paying for right now is the research and development of new drugs. To be fair, drug companies are always spending on R&D. New drugs are granted time-limited patent protection, so there's a constant need to develop new drugs to replace older ones that are losing patent protection. When a patent expires, generic drugs enter the market and revenues from branded drugs tend to decline sharply.
Pfizer's problem is that several of its large drugs are set to lose patent protection. Oncology drug Ibrance loses patent protection in 2027, with cardiovascular drugs Eliquis and Vyndaqel set to lose patent protection in 2028. And Pfizer doesn't have any big new drugs lined up to replace them just yet. To be fair, patent expirations happen on a set schedule, but R&D does not. So this isn't a shocking development. Still, investors have to consider the risk posed to the dividend if new drugs don't arrive in time to offset the revenue hit from generic competition. Meanwhile, the company had a very public setback when it had to drop a GLP-1 drug candidate in 2025.
Pfizer has options and says the dividend is a priority Pfizer's trailing 12-month dividend payout ratio was over 130% at the end of the first quarter of 2026. That's a level that would worry most dividend investors. However, the financial impact of dividends isn't reported on the income statement; it is reported on the cash flow statement. If you compare dividends to cash flow using the cash dividend payout ratio, the figure is slightly more reassuring: 103%.
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It is important to note that companies can access cash in different ways. For example, Pfizer ended the first quarter with $1.7 billion in cash on its balance sheet and $11.3 billion in short-term investments. Put those two together, and Pfizer can support its dividend just from that for a few quarters. But it could also elect to take on additional debt, using the cash it raises to support the dividend. In other words, Pfizer has options.
The dividend, meanwhile, is paid at the discretion of the board of directors. Management has made it very clear that the dividend is a priority, stating in the first quarter slide deck that "maintain dividend" is a key long-term goal. Management wouldn't likely have said that if the board was seriously considering a dividend cut.
Pfizer: No dividend guarantees Pfizer's yield is so high because investors are worried about the safety of the dividend. Given the healthcare company's backdrop, that concern makes complete sense. From a business perspective, Pfizer's long and successful history suggests it will muddle through this rough patch in relative stride. For example, it quickly pivoted in the GLP-1 space and bought a company with a more promising drug candidate. Still, it isn't 100% clear that the dividend will survive.
Given the facts around the dividend, however, it seems likely that more aggressive dividend investors could end up big winners if they take on the risk of a dividend cut. Meanwhile, a realistic worst-case scenario would probably be a 50% dividend reduction. That would still leave the stock with an above-average yield, and such a cut appears to be already priced in. All in, the risk/reward balance may not be as bad as the out size yield suggests.
Pfizer má v indexu S&P 500 nejvyšší dividendový výnos 7,1 %, což vyvolává obavy o jeho udržitelnost. V prvním čtvrtletí činil zředěný zisk na akcii 0,47 USD při dividendě 0,43 USD.
A high-yielding dividend may sound great for investors, but it can be a double-edged sword: when it's too high, investors start to worry about its safety. That's a big part of the reason why Pfizer (PFE 0.90%), whose 7.1% yield is well above the S&P 500 average of just 1.1%, isn't able to draw in investors; many are worried the dividend is due for a cut.
Not only is Pfizer's dividend far above average, but it is now also the highest yield in the entire S&P 500. Is this a warning sign for investors that the dividend may be cut in the near future, or could Pfizer prove to be an underrated income stock to buy right now?
Image source: Getty Images.
Pfizer's yield has been volatile in recent years A high yield can be concerning, but that alone doesn't make it risky. Similarly, just because a yield is low doesn't mean it's sustainable, either. The yield can fluctuate significantly because it is tied to the share price. When a stock is rising, its yield falls because it costs more to secure the same level of dividend income. And when it falls, as has been the case with Pfizer's stock in recent years, the yield can rise significantly.
PFE Dividend Yield data by YCharts
If Pfizer posts strong earnings numbers in its upcoming quarterly results, issues promising guidance, or there's positive news around one of its drugs, its share price could take off, and just like that, the yield could come down.
There is, however, some risk with the dividend because Pfizer's earnings haven't been all that strong in recent quarters. During the first three months of the year, the company's diluted per-share profit was $0.47, not much higher than its quarterly dividend rate -- $0.43. There's not much of a buffer there, and investors may also be concerned about its long-term future, as the pharma company deals with patent cliffs and navigates a challenging course ahead, which could see its sales (and profits) drop in the future.
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Is Pfizer's stock worth buying? Pfizer's dividend may look shaky, but the good news is the company's earnings aren't in bad shape, and it's in the midst of restructuring and cutting costs, which should give it more breathing room in the future. It has also acquired companies that could unlock more growth opportunities down the road.
While this may not be the type of stock investors can simply buy and forget, Pfizer may be a good option for income investors willing to monitor it closely. As of now, the dividend still looks safe, and this could be an underrated option to consider, especially given its low valuation, as the stock trades at just eight times its estimated future earnings, based on analyst expectations.
Pfizer čeká, že růst onkologických tržeb ve 2. čtvrtletí podpoří Padcev, Lorbrena, Braftovi-Mektovi kombinace, Elrexfio a biosimilars, zatímco Ibrance a Adcetris budou dál klesat. Firma má také přinést aktualizace k pozdním onkologickým kandidátům a PF-08634404.
Key Takeaways Pfizer's Q2 oncology sales may be lifted by Padcev, Lorbrena, Elrexfio and oncology biosimilars. PFE is expected to share updates on late-stage oncology candidates and PF-08634404 on its Q2 call. Ibrance and Adcetris declines may be offset by stronger sales from newer cancer therapies. Pfizer (PFE - Free Report) is one of the world’s leading oncology drugmakers, with a strong presence across breast, genitourinary, thoracic, gastrointestinal and hematologic cancers. The company has built a broad portfolio of marketed cancer therapies and maintains a deep oncology pipeline spanning multiple treatment modalities, including small molecules, antibody-drug conjugates (ADCs) and immuno-oncology biologics.
Oncology sales comprise around 27% of its total revenues. Its oncology revenues grew 7% to $3.8 billion in the first quarter of 2026. Investors will be keen to know how its oncology segment performed in the second quarter when the company announces results on Aug. 4.
Pfizer’s oncology sales in the second quarter are expected to have been driven by higher sales of key drugs like Padcev, Lorbrena and the Braftovi-Mektovi combination, which should make up for declining sales of drugs like Ibrance and Adcetris. Sales of the new drug, Elrexfio, are also likely to have risen in the quarter.
The Zacks Consensus Estimate for Padcev is $661 million, while that for Ibrance is $1.05 billion.
Pfizer has ventured into the oncology biosimilars space and markets six biosimilars for cancer. Its oncology biosimilars are expected to have made a significant contribution to sales growth in the second quarter of 2026, similar to the past few quarters.
Pfizer is also likely to provide updates on its key oncology candidates on the second-quarter conference call. Several oncology candidates have entered late-stage development, such as atirmociclib and sigvotatug vedotin. A regulatory application seeking approval of sasanlimab is also under review in the EU.
Last year, Pfizer entered into a global ex-China in-licensing agreement with China's 3SBio for exclusive rights to PF-08634404, a dual PD-1 and VEGF inhibitor, which it plans to establish as a potential backbone therapy across multiple tumor types. Pfizer plans to start four pivotal studies for PF-08634404 in 2026. An update on PF-08634404 is expected on the second-quarter conference call.
Competition in the Oncology SpacePfizer is one of the largest drugmakers of cancer medicines. Other large players in the oncology space are AstraZeneca (AZN - Free Report) , Merck (MRK - Free Report) , J&J (JNJ - Free Report) and Bristol-Myers.
For J&J, the Oncology segment comprises around 29% of total revenues and 45% of its Innovative Medicine segment sales. Its oncology sales rose 17.8% on an operational basis in the first quarter of 2026, driven by strong market growth and share gains of key cancer products such as Darzalex and Erleada. The sales growth was partially dampened by lower sales of Imbruvica. J&J’s new cancer drugs, Carvykti, Tecvayli, Talvey and Rybrevant/Lazcluze, are contributing significantly to top-line growth, driven by market share gains.
For AstraZeneca, oncology sales now comprise around 45% of total revenues. Sales in its oncology segment rose 16% at constant exchange rate (CER) in the first quarter of 2026. AstraZeneca’s strong oncology performance was driven by medicines such as Tagrisso, Lynparza, Imfinzi, Calquence and Enhertu (in partnership with Daiichi Sankyo).
Merck’s key oncology medicines are PD-L1 inhibitor, Keytruda and PARP inhibitor, Lynparza, which it markets in partnership with AstraZeneca. Keytruda, approved for several types of cancer, alone accounts for around 50% of Merck’s pharmaceutical sales. Keytruda recorded sales of $8 billion in the first quarter of 2026, up 8% year over year.
PFE’s Price Performance, Valuation and EstimatesPfizer’s stock has risen 1.6% so far this year compared with an increase of 12.1% for the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, Pfizer appears attractive relative to the industry and is trading below its five-year mean. Going by the price/earnings ratio, Pfizer’s shares currently trade at 8.42 forward earnings, significantly lower than 18.49 for the industry as well as the stock’s five-year mean of 9.37.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings has declined from $2.99 per share to $2.96 per share, while that for 2027 has been stable at $2.86 per share over the past 60 days.
Image Source: Zacks Investment Research
Pfizer has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Jim Cramer odmítl doporučit Pfizer, i když akcie nabízejí 7% dividendu a jsou poblíž 52týdenního minima. Uvedl, že firmě chybí růst a má problémy s růstem zisku.
Jim Cramer stared down a stock yielding 7% and sitting near its 52-week low, and still would not tell viewers to buy it. On the July 7 episode of CNBC’s Mad Money, a caller from Orland Park, Illinois pitched Pfizer as an income-and-value setup, and Cramer conceded the case looked tempting. He landed on a reluctant pass anyway, telling the caller, “It kills me to say that a stock that yields 7% that used to have a lot of growth is going to have growth again, but I can’t come up with where the growth is. I just can’t. I’m sorry.”
The Caller and the Setup After a friendly exchange about Cramer’s 2:47 AM wake-up habit and a shout-out to a staffer named Sean, the Orland Park caller framed the question plainly: “I’m looking at a pharmaceutical company. You’ve had the CEO on your show several times over the past few years. Pays a high dividend. Down near the 52-week low. What do you think about Pfizer, Jim?” It is the kind of pitch that usually gets a warmer response from a host who has hosted CEO Albert Bourla repeatedly.
Cramer’s Reasoning on Pfizer Pfizer (NYSE:PFE | PFE Price Prediction) drew a diagnosis rather than an endorsement. Cramer told the caller, “Okay, they do have earnings growth problems. They haven’t been able to make the Seagen acquisition work the way it should. The dividend is safe at 7%.” The Seagen deal, closed in December 2023 for roughly $43 billion, was supposed to seed Pfizer’s post-COVID oncology franchise. Padcev, one of the assets that came over, did grow 39% operationally in Q1 2026, but that has not been enough to offset a 59% drop in Comirnaty and a 63% operational decline in Paxlovid.
The headline numbers still show a company that beats and guides steadily. Pfizer posted Q1 2026 revenue of $14.45 billion against a $13.80 billion estimate, adjusted EPS of $0.75 (a fifth consecutive beat), and reaffirmed FY2026 revenue guidance of $59.5 billion to $62.5 billion and adjusted EPS of $2.80 to $3.00, per the company’s 8-K filing. Net income of $2.687 billion was down 9.44% year over year, and operating income fell 31.44%. That is the growth gap Cramer is pointing at.
The Core Tension: Safe Yield, No Growth Cramer’s stance boils down to a simple test that a safe payout alone does not clear. Pfizer’s quarterly dividend of $0.43 was raised from $0.42 beginning with the January 2026 payment, extending a long streak of modest increases. FY2025 dividends paid totaled $9.8 billion, and management has signaled no buybacks in 2026 despite a $3.3 billion remaining authorization. Cash is going to the payout and to deals like the ~$7.0 billion Metsera acquisition in obesity/GLP-1 and a $1.35 billion charge to in-license a PD-1 x VEGF bispecific from 3SBio. Those bets could re-seed the pipeline. They have not yet moved the earnings needle in a way that satisfies Cramer.
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What the Market Says The market seems to agree, at least for now. Pfizer closed at $24.05 on July 8, down 6.13% over the past month and roughly flat year to date. The 52-week range runs from $21.97 to $28.28, and the trailing yield sits at 7.25%. Analyst consensus target is $29.00, with 16 Hold ratings dominating the board. Forward P/E of 8x tells you the market is pricing in the patent cliff around Eliquis and Vyndaqel, IRA Medicare Part D redesign pressure, and Most-Favored-Nation drug pricing risk.
For readers weighing this against other high-yield names, our ongoing Paycheck Portfolio coverage tracks how income investors are handling yield traps versus durable payers in 2026.
The Bottom Line Cramer’s take is Cramer’s take. Income investors who care most about a covered 7% payout may reasonably read the same facts and reach a different conclusion, especially with the stock sitting closer to the low end of its 52-week range. Growth investors hunting a catalyst will hear Cramer clearly. This is reporting on his opinion, and readers should treat it as such. Do your own research before acting.
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Pfizer má dividendový výnos 7 %, ale text varuje, že není tak bezpečná, jak se zdá. Firma v roce 2025 nevygenerovala dostatek hotovosti na pokrytí dividend a chybělo jí asi 700 milionů USD.
It's hard not to love high dividend yields. Who doesn't want more dividends for their money? Pfizer (PFE +1.31%) and its current yield of 7% will certainly grab your attention.
But remember that the company sets the dividend amount, and the market sets the stock's yield. A yield as high as Pfizer's can be a warning that Wall Street sees problems and trades the stock at a price that reflects those risks.
The problem for investors is that it's difficult to see any obvious red flags in Pfizer's dividend -- right now. Here's why it's far riskier than it might look.
Image source: The Motley Fool
Pfizer's dividend looks and sounds safe, on the surface Wall Street analysts estimate that the pharmaceutical giant will earn approximately $2.99 per share this year. That's good news. Pfizer pays out $1.72 in dividends, so, at least based on earnings, the payout ratio is healthy at 57%. Additionally, the management team has been quite vocal about the dividend. Pfizer noted that preserving and supporting its dividend is a priority as recently as its first-quarter 2026 earnings call in May.
That will resonate with investors. The company benefited from selling COVID-19 vaccines and treatments in the early years of the pandemic, but has struggled since then as that windfall dried up. Pfizer's dividend, especially at a 7% yield, genuinely moves the needle for investors who might be sitting on some unrealized capital losses. The stock is still 60% below its 2022 high.
Unfortunately, there are risks now and on the horizon Pfizer is facing the dreaded patent cliff over the next few years, when patents on some key products expire; these include Eliquis, its top seller in 2025, with roughly $8 billion in sales. Its COVID-related products Comirnaty and Paxlovid, combined, generated $6.7 billion in sales last year but continue to decline sharply. Industry analysts estimate that Pfizer could lose $17 billion in revenue from its existing portfolio by 2030.
The company is working to plug that hole with new drugs from its pipeline, but Pfizer's financial profile could dramatically shift soon. On top of that, the company didn't earn enough cash flow to cover its dividends in 2025, falling approximately $700 million short. Dividends are a cash expense, so that's a red flag, regardless of what earnings based on generally accepted accounting principles (GAAP) say.
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What should investors do? Pfizer seems committed to the dividend for now. The company has $13 billion in cash on hand, so dipping into that last year to cover its payouts isn't the end of the world. However, it's difficult to place much confidence in the dividend from one quarter to the next, because the cash payout ratio is tight and uncertainty about the next few years looms over Pfizer's business.
If you're buying Pfizer stock for its dividend, you'll want to weigh these risks, because the dividend isn't as ironclad as it looks.
HSBC snížila rating společnosti Pfizer na Hold z Buy a cílovou cenu na 28 USD z 32 USD kvůli nejistotě kolem pipeline a změnám ve vedení. Klíčový program sigvotatug vedotin po selhání ve fázi 3 ztratil na pravděpodobnosti úspěchu na 40 %.
Analysts Rajesh Kumar and Dylan Whitfield downgraded to Hold from Buy and lowered their target forecast to $28 from $32, citing increased uncertainty around key pipeline assets and recent executive leadership changes.
The original bullish thesis centered on Pfizer’s increased R&D focus, a dividend yield of roughly 6%, and management’s goal of delivering high single-digit revenue growth between 2028 and 2032.
However, HSBC analysts now believe those growth expectations are unlikely to be validated in the near term.
Oncology Pipeline Delay Weighs On Growth OutlookA key factor behind the downgrade was a reduction in the probability of success for sigvotatug vedotin (SV) to 40% following its Phase 3 setback in non-small cell lung cancer (NSCLC).
The analysts also raised the stock’s beta to 0.85 from 0.78, contributing to the lower price target.
According to the note, Pfizer’s long-term growth outlook depends heavily on the success of SV, atirmociclib, a VEGF-bispecific oncology program, and, to a lesser extent, its obesity portfolio.
However, analysts said meaningful catalysts for these programs are expected closer to 2027 rather than in the second half of 2026, leaving investors with few near-term events that could resolve the ongoing growth debate.
In the meantime, analysts expect the effects of MFN pricing, IRA-related changes, and loss-of-exclusivity pressures to become increasingly visible.
Management Changes Add Another Layer Of UncertaintyThe report also highlighted recent executive leadership changes as another reason for caution.
With a new chief financial officer and chief strategy officer joining the leadership team under the current CEO, analysts believe investors may wait for greater clarity on the company’s approach to capital allocation and dividend discipline.
While analysts said Pfizer’s valuation appears attractive relative to its medium-term earnings potential, they cautioned that the stock could remain inexpensive unless the company delivers successful pipeline outcomes.
They also warned that the NSCLC setback for sigvotatug vedotin increases uncertainty around future catalysts and could negatively affect investor perception of management’s capital allocation if impairments related to Seagen’s intangible assets emerge.
PFE Stock Price Activity: Pfizer shares were down 2.06% at $23.82 at the time of publication on Monday, according to Benzinga Pro data.
Photo: Molly Woodward / Shutterstock
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GLP-1 léky Pfizeru a Innoventu prošly v Číně předběžným posouzením pro možné zařazení do základního seznamu zdravotního pojištění. Akcie Innoventu po oznámení vzrostly asi o 7 %.
A logo of Pfizer at the company’s booth at the 8th China International Import Expo (CIIE) in Shanghai, China, November 6, 2025.REUTERS/Maxim Shemetov/File Photo Purchase Licensing Rights, opens new tab
CompaniesSHANGHAI, June 29 (Reuters) - GLP-1 drugs from Pfizer (PFE.N), opens new tab and Innovent Biologics (1801.HK), opens new tab have passed a preliminary review to be potentially included in China's basic medical insurance drug catalogue, a list published by the National Healthcare Security Administration showed on Monday.
Pfizer's ecnoglutide and Innovent's mazdutide, approved in China as treatments for weight management and type II diabetes, belong to the class of GLP-1 receptor agonist drugs already included in China's state insurance list from drugmakers such as Novo Nordisk (NOVOb.CO), opens new tab, Eli Lilly (LLY.N), opens new tab and Guangzhou Innogen Pharmaceutical Group (2591.HK), opens new tab.
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Innovent shares were up about 7% after the announcement.
Novo's Ozempic was first added to China's reimbursement list in 2022, followed by Lilly's Mounjaro and Innogen's efsubaglutide alfa from this year for patients with type II diabetes. Inclusion in the national reimbursement list makes drugs more widely available to the public in a country with a population of 1.4 billion, though an increase in sales volume is often mitigated by lower prices.
Sales of Ozempic injector pens in mainland China, Taiwan and Hong Kong — Novo's largest market after the U.S. — slipped 7% to about 5.4 billion Danish crowns ($853 million) in 2025.
Sales of GLP-1 treatments in China through major e-commerce platforms Alibaba (9988.HK), opens new tab and JD.com (9618.HK), opens new tab totalled about 1.4 billion yuan ($207 million) in the first quarter of 2026, according to Jefferies.
A spokesperson for Pfizer did not immediately respond to a request for comment.
A spokesperson for Innovent told Reuters that in terms of medical insurance coverage in China only treatment for diabetes could be considered.
Reporting by Andrew Silver; Additional reporting by Ethan Wang and Ryan Woo; Editing by Tom Hogue and Muralikumar Anantharaman
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Pfizer oznámil odchod CFO Davea Dentona k 15. srpnu. Zároveň jeho kandidát sigvotatug vedotin ve 3. fázi u NSCLC neprokázal statisticky významné zlepšení celkového přežití.
Pfizer's (PFE +2.62%) shares have lost more than 50% of their value since late 2021 due to poor financial results. The company has tried to bounce back. Notably, it has expanded its pipeline through acquisitions, the most expensive one of which was its $43 billion buyout of Seagen, a cancer-focused drugmaker, in 2023. However, recent developments may suggest to some that Pfizer's efforts to turn things around are not going to work, and the stock may continue moving south.
Image source: The Motley Fool.
A clinical trial flop and a leadership shake-up One of the promising candidates Pfizer got access to through its acquisition of Seagen was sigvotatug vedotin, an investigational medicine for non-small cell lung cancer (NSCLC), one of the leading causes of cancer death in the world. This is a large market that could help Pfizer generate billions of dollars annually, provided it can gain a foothold in it with this therapy. Unfortunately, that now seems unlikely to happen.
Pfizer recently reported that in a phase 3 clinical trial in previously treated NSCLC patients, sigvotatug vedotin failed to show a statistically significant improvement in overall survival, a key endpoint in cancer clinical studies. In the trial, the medicine was pitted against docetaxel, a chemotherapy medication. These results make it unlikely that sigvotatug vedotin will make significant headway in this narrow indication.
Further, there was more negative news for Pfizer recently. On June 18, the pharmaceutical giant announced that its CFO, Dave Denton, would leave the company on Aug. 15. The market is sometimes wary of leadership changes, especially for a company that has been struggling as much as Pfizer has in recent years. It's also worth noting that the drugmaker will face even more challenges ahead. Pfizer's anticoagulant, Eliquis, one of its best-selling drugs, will lose patent exclusivity by the end of the decade. With all that going on, is it time to give up on Pfizer?
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Focus on the long-term It's a bit premature to definitively say that Pfizer's blockbuster acquisition of Seagen was a waste of money. After all, the company is already benefiting from some of the products the buyout added to its portfolio. For instance, Padcev, a medicine for bladder cancer, is currently an important growth driver for Pfizer. In the first quarter, sales from this therapy totaled $591 million, up 39% year over year. There are also other clinical trial candidates that Pfizer inherited from Seagen that could make significant headway in the next few years.
Elsewhere, Pfizer has other attractive pipeline products that may also help it rebound. The company's work in the weight-loss market finally got a boost -- also thanks to an acquisition -- after several internally developed products went nowhere. Pfizer's GLP-1, MET-097i, showed strong results in phase 2 studies and could eventually become an important medicine in this category. The drugmaker boasts other candidates in areas such as immunology, vaccines, and more.
And some of its newer approvals, such as Abrysvo, a respiratory syncytial virus vaccine, are also performing well. Lastly, Pfizer is a solid dividend stock, with a juicy forward yield of 7.3%. All these factors make the stock attractive, and the CFO change shouldn't alter its prospects much. Pfizer may not bounce back immediately, but the stock could eventually do so as it advances through clinical and regulatory milestones over the next five years. That's why its shares are still a buy.
Board of Directors approves quarterly cash dividend of $0.43 per share
NEW YORK--(BUSINESS WIRE)--Pfizer Inc. (NYSE: PFE) today announced that its board of directors declared a $0.43 third-quarter 2026 dividend on the company’s common stock, payable September 1, 2026, to holders of the Common Stock of record at the close of business on July 24, 2026.
Pfizer is committed to maintaining, and over the longer term, growing the dividend, as part of its capital allocation strategy. The third-quarter 2026 cash dividend will be the 351st consecutive quarterly dividend paid by Pfizer.
About Pfizer: Breakthroughs That Change Patients’ Lives
At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative medicines and vaccines. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For over 175 years, we have worked to make a difference for all who rely on us. We routinely post information that may be important to investors on our website at www.Pfizer.com. In addition, to learn more, please visit us on www.Pfizer.com and follow us on X at @Pfizer and @Pfizer News, LinkedIn, YouTube and like us on Facebook at Facebook.com/Pfizer.
Disclosure Notice: The information contained in this release is as of June 24, 2026. The Company assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments.
This release contains forward-looking information about, among other things, Pfizer’s commitment to maintaining, and over the longer term, growing the dividend, that involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for our clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data; risks associated with interim and preliminary data; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; risks associated with our clinical development plans; whether regulatory authorities will be satisfied with the design of and results from our clinical studies; whether and when any drug applications, biologics license applications and/or emergency use authorization applications may be filed in any jurisdictions for any potential indication for Pfizer’s product candidates; whether and when any such applications that may be pending or filed for any of Pfizer’s product candidates may be approved by regulatory authorities, which will depend on myriad factors, including making a determination as to whether the product's benefits outweigh its known risks and determination of the product's efficacy and, if approved, whether any such product candidates will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of Pfizer’s product candidates, including development of products or therapies by other companies; manufacturing capabilities or capacity; uncertainties regarding the ability to obtain or maintain recommendations from vaccine technical committees and other public health authorities and uncertainties regarding the commercial impact of any such recommendations; risks related to the ability to realize the anticipated benefits of Pfizer’s business development transactions, including the possibility that the expected benefits from such transactions will not be realized or will not be realized within the expected time period; the uncertainties inherent in business and financial planning, including, without limitation, risks related to Pfizer’s business and prospects, adverse developments in Pfizer’s markets, or adverse developments in the U.S. or global capital markets, credit markets, regulatory environment, trade policies or economies generally; the impact of COVID-19 on our business, operations and financial results; and competitive developments.
A further description of risks and uncertainties can be found in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and in its subsequent reports on Form 10-Q, including in the sections thereof captioned “Risk Factors” and “Forward-Looking Information and Factors That May Affect Future Results”, as well as in its subsequent reports on Form 8-K, all of which are filed with the U.S. Securities and Exchange Commission and available at www.sec.gov and www.pfizer.com.
Pfizer byl v USA vyřazen ze žaloby států kvůli údajnému fixování cen generických léků. Soud nenašel důkaz o přímém spiknutí s Greenstone ani o manipulaci s cenami.
A Pfizer logo is shown at a research facility in the La Jolla neighborhood of San Diego, California, U.S., September 30, 2025. REUTERS/Mike Blake/File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesNo proof of Pfizer's direct conspiracy to fix prices45 U.S. states, others sued over 80 generic drugsStates unavailable to commentJune 24 (Reuters) - Pfizer (PFE.N), opens new tab has been dismissed as a defendant in a sweeping antitrust lawsuit in which most U.S. states accused dozens of drugmakers and executives of fixing generic drug prices.
In a decision on Tuesday, Chief Judge Michael Shea of the federal district court in Connecticut said the states failed to show that Pfizer and its former Greenstone unit conspired with rivals between 2010 and 2014 to rig bids and allocate customers for six drug products.
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These included generic versions of Eplerenone tablets for high blood pressure, Latanoprost drops for glaucoma, and four versions of Clindamycin phosphate for acne.
The states alleged that Greenstone executives exchanged more than 360 phone calls and text messages with the Swiss drugmaker Sandoz (SDZ.S), opens new tab to coordinate anticompetitive activity.
But the judge said no reasonable jury could find that New York-based Pfizer directly conspired to fix prices, knew of collusion by Greenstone when asked to approve price changes, or was liable because Greenstone — the authorized generic manufacturer of Pfizer-branded drugs — acted as its agent.
"Greenstone existed for the purpose of selling generic drugs for profit in addition to the strategic value that it provided to its parent company," Shea wrote. "The states’ contention that it existed for the sole purpose of acting on its parent company’s behalf falls short."
LAWSUIT COVERS 80 GENERIC DRUGSThe dismissal came in a lawsuit brought by 45 U.S. states, the District of Columbia and four U.S. territories, accusing 36 defendants of conspiring to fix prices of 80 generic drugs, primarily for skin ailments.
Connecticut Attorney General William Tong has led the litigation, and New York Attorney General Letitia James filed papers opposing Pfizer's dismissal motion.
Tong's office had no immediate comment on Wednesday. James' office declined to comment.
Pfizer spun off Greenstone in a 2020 transaction that created Viatris (VTRS.O), opens new tab.
In a statement, Pfizer said it was pleased with the dismissal. It also said Greenstone was a "reliable and trusted supplier of affordable generic medicines for decades, and we will continue to vigorously defend against these claims."
Shea oversees two other antitrust lawsuits by state attorneys general related to generic drugs. Pfizer is a defendant in one of those cases.
Reporting by Jonathan Stempel in New York, Editing by Louise Heavens
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Akcie Pfizeru klesly téměř o 3 % po oznámení odchodu CFO Davea Dentona. Firma zároveň potvrdila výhled na rok 2026: tržby 59,5–62,5 mld. USD a upravený EPS 2,80–3,00 USD.
Key Takeaways Pfizer shares fell nearly 3% after CFO Dave Denton announced he will leave on Aug. 15.PFE reaffirmed 2026 guidance, expecting $59.5B-$62.5B in revenue and $2.80-$3.00 adjusted EPS.Pfizer named Cecile Guega interim CFO and said Denton will support the transition. Shares of Pfizer (PFE - Free Report) declined nearly 3% on Thursday after the company announced the departure of its chief financial officer (CFO), Dave Denton.
Denton will step down from his current role on Aug. 15 for “a professional opportunity outside of the pharmaceutical industry in consumer goods.” The company has initiated a comprehensive internal and external search for a permanent successor. Cecile Guega, currently senior vice president of finance for Pfizer’s global biopharmaceutical business, will serve as interim CFO beginning Aug.16. Guega will work alongside Denton during the transition period to ensure continuity across the company’s financial operations.
Denton’s resignation comes as a surprise, particularly as Pfizer continues to execute its post-pandemic transformation strategy. Since joining the company in May 2022, Denton has overseen several key initiatives, including cost realignment efforts, business development transactions (which include Seagen and Metsera deals) and capital allocation decisions aimed at stabilizing earnings following the sharp decline in COVID-related revenues.
Despite the leadership change, Pfizer reaffirmed its previously issued 2026 financial guidance, signaling that the transition is not expected to alter its near-term strategic priorities or operational outlook.
PFE Stock PerformanceYear to date, the company’s shares have gained over 1% compared with the industry’s 3% growth.
Image Source: Zacks Investment Research
Pfizer’s 2026 GuidanceThe company expects total revenues for 2026 to be between $59.5 billion and $62.5 billion. The range indicates a decline from 2025 revenues of $62.6 billion due to lower revenues from COVID products and loss of revenues from the upcoming patent cliff.
Pfizer expects adjusted EPS for the year in the range of $2.80-$3.00, which represents a decline from the 2025 EPS of $3.22 due to the dilutive impact of last year’s acquisition and licensing deals, lower COVID revenues and higher taxes.
Adjusted gross margin is expected to be in the mid-70% range, similar to the past several years. Adjusted R&D expenses are expected to be in the range of $10.5 billion to $11.5 billion in 2026, while adjusted SI&A spending is targeted between $12.5 billion and $13.5 billion.
The adjusted effective tax rate is expected to be approximately 15% in 2026.
PFE’s Zacks RanksPfizer currently carries a Zacks Rank #3 (Hold).
Key Picks Among Biotech StocksSome better-ranked stocks from the sector are Immunocore (IMCR - Free Report) and Indivior Pharmaceuticals (INDV - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Immunocore’s 2026 bottom line have improved from a loss per share of 88 cents to earnings of 6 cents. Over the same period, estimates for 2027 EPS have risen from 24 cents to 87 cents. IMCR’s shares have lost nearly 18% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters but missed the mark on one occasion, delivering an average surprise of 46.66%.
Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 EPS have increased from $3.33 to $4.05. Over the same period, EPS estimates for 2027 have risen from $3.66 to $4.27. INDV’s shares are up nearly 7% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 65.44%.
Pfizer v příštích dvou letech nečeká žádnou velkou akvizici a místo toho chce urychlit transformaci pomocí AI. Cílem je rychlejší vývoj léků a vyšší efektivita.
Acquisitions can be a double-edged sword for companies, as they can quickly bolster revenue and growth opportunities but also add costs and inefficiencies. Healthcare giant Pfizer (PFE +1.31%) has been involved in numerous acquisitions in recent years as it has worked to strengthen its prospects; a major risk for the stock has been uncertainty about where its growth will come from, particularly as it faces patent cliffs on key drugs.
One of the largest deals Pfizer made was the $43 billion acquisition of oncology company Seagen in 2023. It was a major acquisition that gave it some promising cancer-fighting medicines. But Pfizer isn't expecting to make significant deals like this in the near future. Here's how it plans to adjust its strategy and what that could mean for investors.
Image source: Getty Images.
Pfizer looks to take a break from acquisitions When a company is aggressively pursuing acquisitions, it can make it difficult to avoid rising costs, as it may incur acquisition-related expenses and become bloated with additional workers and overhead.
On Pfizer's most recent earnings call, CEO Albert Bourla was asked if there would be any more significant acquisitions in the near future. Bourla indicated that nothing's on the horizon and that the healthcare company will instead focus on enhancing its different businesses with artificial intelligence (AI).
"We think that right now, in the next two years, it is the time to execute on AI transformation of these organizations. That requires not the disruption of a mega merger."
Bourla sees tremendous potential with AI to develop new medicines more quickly. Not only could this accelerate the company's long-term growth, but it may also yield greater cost savings and efficiency, leading to stronger financial results.
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Does this news make Pfizer's stock a better buy? Slowing down its acquisition strategy could be an advantageous move for Pfizer, particularly as it works to use AI to improve its processes. If these AI transformations result in stronger earnings and long-term growth prospects, it's what the stock may need to get out of its funk; shares of Pizer are down 35% in the past five years, as even a low valuation hasn't been enough of a reason to entice investors to buy the stock.
The good news, however, is that the company appears to be moving in the right direction, growing its business and looking for ways to enhance its operations with the help of AI. At less than nine times its estimated future earnings (based on analyst expectations), the stock is deeply discounted and offers investors an excellent margin of safety. Plus, it offers a tremendously high dividend yield of around 6.8%. There may be some uncertainty ahead, but overall, Pfizer may be one of the better bargains in the market right now.
Pfizer uvedl, že experimentální lék sigvotatug vedotin v pozdní studii rakoviny plic nesplnil primární cíl a nepřinesl statisticky významné zlepšení přežití oproti chemoterapii. Akcie v poobchodní fázi klesly o více než 1 %.
A Pfizer logo is shown at a research facility in the La Jolla neighborhood of San Diego, California, U.S., September 30, 2025. REUTERS/Mike Blake//File Photo Purchase Licensing Rights, opens new tab
SummaryCompaniesContinuing with ongoing trial that combines drug with KeytrudaPlans to explore using the drug with other experimental treatmentsShares fall 1%June 22 (Reuters) - Pfizer (PFE.N), opens new tab said on Monday that one of the key experimental drugs it picked up in its $43 billion 2023 acquisition of Seagen failed to improve survival when compared to chemotherapy in a late-stage trial of lung cancer patients who had already tried other treatments.
The drug, sigvotatug vedotin, did not show a statistically significant improvement in the study's primary endpoint of overall survival in adults with locally advanced, unresectable or metastatic non-squamous non-small cell lung cancer (NSCLC) versus the chemotherapy docetaxel, Pfizer said. The company's shares fell more than 1 percent in after-hours trading.
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Pfizer said that it was still confident in the potential of the drug due to a stronger survival trend in the patients who had received only one prior course of treatment, as well as data from an early stage trial where the drug was used in combination with Merck's (MRK.N), opens new tab Keytruda.
"In patients who had received only one prior line of therapy here, we did see very favorable trends in both progression-free survival and overall survival, suggesting that the drug is active and the payload is getting directly to the cancer cells," Pfizer Chief Oncology Officer said in an interview.
The company already has an ongoing late-stage trial of the drug in combination with Keytruda as a first-line treatment. It also plans to explore using the drug with other experimental cancer treatments in its pipeline.
Sigvotatug vedotin targets a protein known as integrin beta‑6. In the trial, Pfizer said it found no clear relationship between tumors expressing the protein and patient response to the drug.
Pfizer bought Seagen and its portfolio of targeted cancer therapies called antibody-drug conjugates in hopes of offsetting the steep fall in sales of its COVID-19 portfolio and generic competition for some top-selling drugs.
The company is continuing to develop other ADCs, it said, including some that also target the same protein, IB6.
Pfizer shares have dropped more than 50% since early 2023 as the drugmaker has worked to develop new blockbuster drugs. It has said it expects to return to stronger growth in 2028.
Additional reporting by Puyaan Singh in Bengaluru; Editing by Vijay Kishore and Stephen Coates
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