Společnost Pfizer zvýšila ve 2. čtvrtletí tržby o 3 % na zhruba 15 mld. USD, a to navzdory poklesu prodejů přípravků proti covidu. Novější a akvizované produkty generují roční tržby ve výši 13 mld. USD.
The S&P 500 is full of quality dividend stocks. But is Pfizer (PFE -1.28%) one of them? On the one hand, the drugmaker has one of the highest yields in the index. However, some would point out that Pfizer has faced significant challenges and still has important ones on the horizon. Still, in my view, Pfizer is an attractive income stock to buy and hold. Here's why the dividend is safer than it appears at first.
Recent financial results have exceeded estimates Reduced demand for coronavirus products has affected Pfizer's financial results in recent years. In the second quarter, the company's COVID-19 vaccine, Comirnaty, reported $261 million in sales, down 32% year over year. Pfizer's coronavirus medicine, Paxlovid, performed even worse. The drug posted only $21 million in revenue, down 95% compared to the year-ago period.
Image source: The Motley Fool.
Despite that, Pfizer's total revenue climbed by 3% year over year to about $15 billion. As management has pointed out, the company has exceeded revenue expectations in nine out of the past 10 quarters, and it beat earnings estimates in all 10 of them. True, Pfizer is racing toward important patent cliffs, including that of Eliquis, an anticoagulant, its best-selling medicine.
Eliquis will lose its U.S. patent by the end of the decade. Two other drugs facing patent-exclusivity losses are Ibrance and Xtandi, both of which are cancer drugs. Still, Pfizer's newer and acquired products will help the company overcome this challenge. CEO Albert Bourla noted that these products generate $13 billion in annualized sales and are growing 20% year over year.
Suppose these medicines grow at a compound rate of 15% through the next four years. Their annualized revenue would get to $22.7 billion by 2030. As of the first half of the year, Ibrance, Xtandi, and Eliquis have combined annualized sales of $15.27 billion. That will certainly grow meaningfully before they hit their patent cliffs, and it's not as if their revenue will immediately drop to zero following their loss of patent exclusivity. Does that mean the new (and acquired) products will more than offset the loss-of-exclusivity products? Probably not.
But Pfizer is preparing for this challenge better than some investors realize. We can also look at the work it has done to increase profits. The company eliminated $7.2 billion from its cost base in the past three years. That's a meaningful amount, and future cost-cutting measures could also positively impact the drugmaker's results and help it navigate the difficult period it is entering.
PFE Pfizer$30.03-$0.39 (-1.28%)
NYSE · As of 4:00 PM ET 10/23/26
Pipeline progress is key Is Pfizer's dividend program -- which boasts a juicy 5.8% forward yield -- in trouble as the company faces several patent cliffs? Probably not. Here are two reasons why. First, Pfizer hasn't reduced its dividend in recent years, despite the challenges it has faced. The past isn't a guarantee of the future, but recent history suggests that management prioritizes returning capital to shareholders through dividends.
In the past five years, the company has increased its payouts by 10.26%. That's not extraordinary, but given the challenges it has faced, it's still fairly impressive. Second, beyond recent brand-new approvals, Pfizer boasts a deep pipeline that should help the company significantly expand its lineup of approved products over the next few years.
This is where even stronger growth could come from, especially since Pfizer boasts several highly promising candidates. For instance, the company's investigational long-acting GLP-1 weight-loss medicine, berobenatide, could eventually generate well over $1 billion in sales, given its monthly dosing schedule, strong tolerability, and the predicted rapid growth of the anti-obesity market.
That's just one of the more notable products in Pfizer's pipeline. Of course, the company could face clinical setbacks. But Pfizer's pipeline is deep: It boasts some 16 brand-new products in Phase 3 studies. That's not including earlier-stage programs. Even a modest Phase 3 success rate of 50% -- which is well in line with the industry average -- will lead to a good number of brand-new products over the next few years. These are all good reasons why Pfizer's outlook appears fairly strong, and the dividend looks safe, despite recent headwinds.
Akcie Pfizer letos vzrostly o 18 %, přesto jsou za pět let stále přibližně o 30 % níže. Poměr forwardového P/E kolem 10 a dividendový výnos 5,8 % podporují jejich ocenění.
Pfizer (PFE -0.47%) is a stock that the market has largely forgotten about for multiple years, languishing and struggling to rise in value despite having strong fundamentals and an attractive valuation.
Recently, however, it's been picking up steam. It's up 18% this year, in what is shaping up to be its best year since 2021, when it rose more than 60% due to strong revenue growth from its COVID vaccine and pill.
Despite its recent gains this year, however, the stock remains down around 30% over a five-year period. It may still have plenty of room to rise even higher.
Image source: Getty Images.
A rotation may be taking place, from tech into healthcareFor much of the past few years, it's been tech stocks that have been the hot buys, due to the enormous opportunities in artificial intelligence. But with interest rates on the rise, investors appear to be thinking twice about the sector of late. In the past few days, there's been a notable shift out of tech and into healthcare, as is evident with the following two exchange-traded funds.
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This is a small sample size, of course, but it may be the start of a new trend emerging, with investors pivoting to safer stocks that offer high yields. The healthcare sector is full of them, with Pfizer being one of the best in that regard.
At 5.8%, the stock offers one of the highest yields on the S&P 500, which is more than five times the index's average of just 1%. It's a huge incentive for income investors in search of recurring income.
Pfizer's stock still looks incredibly cheapAt first glance, investors may scoff at Pfizer's stock because of its seemingly expensive valuation. On a trailing earnings basis, its price-to-earnings (P/E) multiple is extremely high at 37. However, the company has been in the midst of restructuring its operations and has incurred impairment charges and other nonrecurring items, which have weighed on its bottom line, making its earnings worse than they otherwise would be.
PFE Pfizer$29.44-$0.14 (-0.47%)
NYSE · As of 4:00 PM ET 10/19/26
But on a forward basis, its P/E multiple is around 10. That's based on how much earnings analysts expect it will generate over the coming year. That can be a better measure of how expensive the stock truly is, without all the noise in its financials.
While there are still long-term question marks about its growth, the stock remains heavily undervalued and should be trading at a far higher multiple than it is right now. As the market begins to recognize that, the healthcare stock could soar far higher.
Pfizer zachovává čtvrtletní dividendu na úrovni 0,43 USD, přestože dividendy v roce 2025 představovaly 108 % volného peněžního toku. Generální ředitel se zavázal dividendu zachovat.
Pfizer's 5.8% yield looks tempting until you check what the dividend is actually costing the company relative to its cash generation. The math behind that payout is more uncomfortable than the headline numbers suggest.
Pfizer (NYSE:PFE | PFE Price Prediction) declared its quarterly dividend again on Oct. 6, 2026, at $0.43 per share. That’s the same amount it has paid since early 2025. The board held the payout steady after years of annual raises. The last increase took it from $0.42, a bump of about 2.4%. With shares at $29.58, up 24.96% year to date, the stock still yields roughly 5.80%. That raises the question: can Pfizer keep paying it?
Earnings Cover the Dividend, but Cash Flow Is Thin Pfizer’s 2026 adjusted EPS guidance is $2.80 to $3.00. Against that guidance, the $1.72 annual dividend works out to a payout ratio of about 57% to 61%. Cash flow looks less comfortable. In 2025, operating cash flow minus capital spending came to about $9.08 billion, while dividends cost $9.77 billion. That means the payout ate up about 108% of free cash flow. In the first half of 2026, free cash flow was roughly $2.48 billion, while the company paid $4.9 billion to shareholders. GAAP profits keep taking hits from write-downs, including a $3.8 billion impairment on Sigvotatug vedotin in the second quarter.
Debt From Pfizer’s Dealmaking Limits Its Options Total debt rose from $35.8 billion at the end of 2022 to $63.2 billion by June 30, 2026, while cash sat at just $976 million. Management put leverage at 2.7 times and offered no promise that it would fall soon:
“Given the LOE impact over the next few years, we expect leverage to remain around current level or modestly higher through this transition period.”
Buybacks are on hold. Pfizer’s 2026 guidance assumes no share repurchases, and $3.3 billion of authorization remains unused.
Pfizer’s Plan to Replace Revenue Lost to Patent Expirations Generic and biosimilar competition will cost Pfizer about $1.1 billion in revenue this year, and the larger loss-of-exclusivity (LOE) wave, when key patents expire, is still to come. To offset it, launched and acquired products grew 18% operationally in the second quarter. A patent settlement extends U.S. exclusivity for Vyndamax, a heart-disease drug, to June 2031. Cost programs aim for about $9.7 billion in net savings through 2029. Chief executive Albert Bourla addressed the payout directly on the second-quarter call:
“We feel extremely confident that, even in the most stretched scenarios that we are running, we will be able to maintain our dividend. So I want, once and for all, to make that clear to all: the dividend will be maintained, and eventually, after the LOE period, we will start growing it again.”
He also pointed to a “risk-adjusted, high single-digit revenue CAGR from year-end 2028 through year-end 2033,” with obesity drugs from the Metsera deal aiming for a first approval in 2028.
How Bristol Myers and Merck Compare Despite its own generic erosion, Bristol-Myers Squibb (NYSE:BMY) still raised its dividend to $0.63 per quarter. That was a 1.6% increase and its 17th consecutive annual raise. Bristol also lifted its 2026 EPS outlook to $6.75 to $7.00. Chief executive Christopher Boerner said, “The Growth Portfolio continues to deliver.”
Merck (NYSE:MRK) is paying the cost of rebuilding its pipeline. One-time charges of $9.0 billion for Cidara and $5.7 billion for Terns pulled its 2026 non-GAAP EPS outlook down to $2.66 to $2.76. Merck can absorb charges of that size from a $360 billion market cap. Pfizer is worth about $168.6 billion.
Verdict: Safe for Now, With No Growth Until the End of the Decade Adjusted earnings cover the dividend well, and management has staked its credibility on keeping it. Free cash flow, though, has fallen short of the payout, and the debt load leaves little room for error. The current $0.43 looks safe through the patent-expiration years. Pfizer’s own plan also makes clear that raises are unlikely to resume before the 2029 return to growth. Until then, keep an eye on free cash flow coverage and leverage.
Contact [email protected] for any questions or corrections.
Pfizer ve třetím čtvrtletí očekává pokles tržeb z vakcíny Comirnaty a přípravku Paxlovid kvůli slabší poptávce po léčbě COVID-19, zatímco tržby z Eliquisu by měly růst díky globální poptávce.
Key Takeaways Pfizer's non-oncology results will highlight performance across Primary Care and Specialty Care in Q3.Eliquis demand may boost sales, while lower COVID-19 demand will weigh on revenues.Vyndaqel sales may rise on international strength, while Xeljanz and Enbrel sales likely continue to decline. Pfizer (PFE - Free Report) will announce its third-quarter 2026 earnings on Nov. 3, 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 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 third-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) for the blood thinner 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.
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 third quarter due to lower U.S. utilization following narrower vaccination recommendations. 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.
Sales of respiratory syncytial virus (RSV) vaccine, Abrysvo, are likely to have gained from launch uptake in some international markets, although vaccination recommendations and competition may constrain growth in United States. Favorable timing of deliveries in some international markets and favorable buying patterns in the United States benefitted sales in the second quarter, which may have reversed in the third quarter. Sales of migraine drug, Nurtec ODT/Vydura, are likely to have benefited from strong demand and prescription growth in the United States.
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 due to the impact of price erosion as a result of new payer contracts in the United States.
Sales of Xeljanz and Enbrel may have declined due to competitive and pricing pressures. In contrast, newer medicines such as Cibinqo could benefit from continued market uptake.
Pfizer’s Key Competitors
In 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 (MRK - Free Report) , AstraZeneca and Sanofi. In vaccines, it competes primarily with Merck, GSK, Sanofi and Moderna.
Společnost Pfizer vyhlásila 352. čtvrtletní dividendu v řadě ve výši 0,43 USD; volný peněžní tok za poslední čtyři čtvrtletí dosáhl 11 mld. USD a převýšil vyplacené dividendy o více než 1 mld. USD.
Last week, drugmaker Pfizer (PFE +0.48%) declared a $0.43 fourth-quarter dividend, its 352nd consecutive quarterly dividend. The forward annual dividend, therefore, is $1.72 per share, which represents a handsome 5.9% yield. Consider that the current average S&P 500 dividend yield is around 1%, and you'll see how attractive Pfizer's yield is.
But is Pfizer's dividend safe? It's something every income investor absolutely needs to know, because a company's share price typically declines after a dividend cut, for two primary reasons. One, income investors often sell the stock to seek income elsewhere. And two, investors more broadly view a dividend cut as a flashing red warning signal that a company is facing financial stress and weak cash flow.
And Pfizer did cut its dividend in half back in 2009 during the great financial crisis, when many companies were forced to slash their payouts. But since 2010, the company has raised its dividend every year. That's impressive. But is it sustainable?
Patent cliffs loom for Pfizer Like many other drugmakers, Pfizer is facing some significant patent cliffs. Its blood-thinner drug, Eliquis, and its autoimmune disease drug, Xeljanz, lose U.S. patent exclusivity this year. Ibrance, a breast cancer drug, and Xtandi, a prostate cancer drug, will lose their exclusivity next year.
So, Pfizer has to continue to fill its pipeline with potential new drugs. That pipeline leans heavily on new cancer drugs, and it has been expanding that with development programs to treat breast, prostate, bladder, and lung cancers.
Image source: Getty Images.
Fortunately, the company has a robust product portfolio that should keep revenue and cash flow healthy until new drugs are approved and launched. That includes migraine drug Nurtec, which saw 18% growth in the second quarter, and oncology drugs Lorbrena (37% growth) and Padcev (23% growth). Plus, free cash flow, which is needed to pay dividends, has totaled some $11 billion over the past four quarters, more than $1 billion above its dividend payments.
Management has reiterated that, as part of its capital allocation strategy, it is committed to maintaining, and over the longer term, growing the dividend.
Investors are cautiously optimistic: They've bid the stock up more than 17% year this year, which means it has outperformed the S&P 500 index by more than four percentage points. The stock has climbed about 19% over the past 52 weeks.
PFE Pfizer$29.58+$0.14 (+0.48%)
NYSE · As of 4:00 PM ET 10/16/26
So, if you want a high-yielding drug stock, Pfizer could be a good choice. But you have to have confidence that it can replace patent-cliff drugs with new pipeline drugs to keep cash flow healthy enough to pay its juicy dividend.
Pfizer ve čtvrtletí překonal odhady: zisk na akcii (EPS) dosáhl 0,77 USD a tržby činily 15,03 miliardy USD. Konsenzus 21 analytiků zůstává na doporučení „držet“ s průměrnou cílovou cenou 28,72 USD.
Pfizer Inc. (NYSE:PFE – Get Free Report) has received a consensus recommendation of “Hold” from the twenty-one brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $28.72.
PFE has been the subject of a number of analyst reports. Bank of America dropped their price target on shares of Pfizer from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. BMO Capital Markets reduced their price target on Pfizer from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Wall Street Zen lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Cantor Fitzgerald lifted their price objective on Pfizer from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Finally, Weiss Ratings raised Pfizer from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 31st.
Read Our Latest Analysis on PFE
Pfizer Price Performance Shares of Pfizer stock opened at $29.22 on Thursday. Pfizer has a twelve month low of $23.62 and a twelve month high of $29.49. The company has a quick ratio of 0.96, a current ratio of 1.27 and a debt-to-equity ratio of 0.71. The company has a 50-day simple moving average of $27.88 and a two-hundred day simple moving average of $26.53. The stock has a market capitalization of $166.53 billion, a price-to-earnings ratio of 38.44, a price-to-earnings-growth ratio of 1.93 and a beta of 0.32. Pfizer (NYSE:PFE – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. Pfizer had a net margin of 6.80% and a return on equity of 19.63%. The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. Analysts forecast that Pfizer will post 2.95 EPS for the current year.
Pfizer Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Friday, November 6th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, November 6th. Pfizer’s payout ratio is 226.32%.
Institutional Investors Weigh In On Pfizer Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Pfizer by 6.3% during the second quarter. BlackRock Inc. now owns 529,670,433 shares of the biopharmaceutical company’s stock valued at $12,754,464,000 after acquiring an additional 31,412,883 shares during the last quarter. State Street Corp raised its stake in shares of Pfizer by 1.8% in the second quarter. State Street Corp now owns 307,090,897 shares of the biopharmaceutical company’s stock valued at $7,394,749,000 after acquiring an additional 5,501,032 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Pfizer by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 57,879,546 shares of the biopharmaceutical company’s stock valued at $1,393,739,000 after acquiring an additional 3,999,646 shares during the period. Bank of America Corp DE bought a new stake in shares of Pfizer in the 2nd quarter worth about $1,049,602,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Pfizer by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 36,422,799 shares of the biopharmaceutical company’s stock worth $1,022,606,000 after acquiring an additional 293,029 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.
Key Stories Impacting Pfizer Here are the key news stories impacting Pfizer this week:
Positive Sentiment: Pfizer said it will present data from more than 50 abstracts at IDWeek 2026, including updates on its Lyme vaccine, next-generation pneumococcal vaccine, RSV and COVID-19 programs. The breadth of the upcoming data could reinforce confidence in Pfizer’s infectious-disease pipeline. Pfizer Showcases Clinical Advancements Across Infectious Diseases at IDWeek 2026 Positive Sentiment: A next-generation pneumococcal vaccine has entered a key Phase 3 trial, potentially expanding Pfizer’s future vaccine revenue opportunities. Pfizer’s Next-Gen Pneumococcal Shot Enters Key Phase 3 Test Positive Sentiment: Pfizer entered a research collaboration and licensing agreement with Enodia Therapeutics to discover and develop Sec61-targeting small molecules. The deal adds another external innovation program to Pfizer’s pipeline, although commercial benefits are likely years away. Enodia Therapeutics Announces Research Collaboration and License Agreement with Pfizer Positive Sentiment: Unusually heavy call-option activity and recent purchases by several Pfizer insiders may have supported bullish trading sentiment. Investors are also attracted to the roughly 6% dividend yield and the declared quarterly dividend of $0.43 per share. Neutral Sentiment: Pfizer’s latest reported quarter exceeded earnings and revenue expectations, and management’s 2026 EPS guidance is $2.80–$3.00. However, the company’s outlook remains dependent on pipeline execution and replacing pandemic-related revenue declines. Negative Sentiment: The dividend’s sustainability remains a concern: commentary highlighted a payout ratio above reported earnings, while several analyst price targets cluster between $25 and $28—below the current share price. This could limit upside despite the attractive income yield. Pfizer Company Profile (Get Free Report)
Pfizer Inc (NYSE:PFE) is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its research and commercial activities focus on areas including oncology, inflammation and immunology, internal medicine, hospital care and vaccines.
The company’s portfolio includes widely used products such as the Prevnar family of pneumococcal vaccines, Ibrance for certain breast cancers, Eliquis for preventing blood clots, Xeljanz for inflammatory conditions, and Vyndaqel for transthyretin amyloidosis.
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Společnost Pfizer získala hodnocení Zacks Rank #2 (Buy), přestože konsenzuální odhad zisku na akcii (EPS) pro aktuální čtvrtletí za posledních 30 dní klesl o 2,4 %.
Pfizer (PFE - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Shares of this drugmaker have returned +0.6% over the past month versus the Zacks S&P 500 composite's +1.3% change. The Zacks Large Cap Pharmaceuticals industry, to which Pfizer belongs, has gained 0.3% over this period. Now the key question is: Where could the stock be headed in the near term?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Pfizer is expected to post earnings of $0.75 per share for the current quarter, representing a year-over-year change of -13.8%. Over the last 30 days, the Zacks Consensus Estimate has changed -2.4%.
The consensus earnings estimate of $2.98 for the current fiscal year indicates a year-over-year change of -7.5%. This estimate has remained unchanged over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $2.96 indicates a change of -0.6% from what Pfizer is expected to report a year ago. Over the past month, the estimate has changed +0.4%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Pfizer is rated Zacks Rank #2 (Buy).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
For Pfizer, the consensus sales estimate for the current quarter of $16.25 billion indicates a year-over-year change of -2.5%. For the current and next fiscal years, $62.49 billion and $61.05 billion estimates indicate -0.1% and -2.3% changes, respectively.
Last Reported Results and Surprise HistoryPfizer reported revenues of $15.03 billion in the last reported quarter, representing a year-over-year change of +2.6%. EPS of $0.77 for the same period compares with $0.78 a year ago.
Compared to the Zacks Consensus Estimate of $14.45 billion, the reported revenues represent a surprise of +4.04%. The EPS surprise was +13.24%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Pfizer is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Pfizer. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.
FDA schválila kombinaci přípravku Tukysa od společnosti Pfizer pro udržovací léčbu HER2-pozitivního pokročilého karcinomu prsu; medián přežití bez progrese dosáhl 24,9 měsíce oproti 16,3 měsíce u placeba.
Key Takeaways Pfizer's Tukysa combo won FDA approval for frontline maintenance in HER2-positive breast cancer.Tukysa reduced progression or death risk by 35.9%, with median PFS reaching 24.9 months.The approval expands Tukysa beyond second-line use, adding a chemotherapy-free maintenance option. Pfizer (PFE - Free Report) announced that the FDA has approved its marketed drug, Tukysa (tucatinib), in combination with Roche’s (RHHBY - Free Report) Herceptin (trastuzumab) and Perjeta (pertuzumab) for the maintenance treatment of adult patients with unresectable locally advanced or metastatic HER2-positive breast cancer following induction treatment.
The latest approval expands Tukysa’s use into the frontline setting, providing a chemotherapy-free maintenance treatment option for patients following initial induction therapy. The approval was supported by data from the phase III HER2CLIMB-05 study.
Data from the study showed that treatment with Tukysa in combination with RHHBY’s Herceptin and Perjeta reduced the risk of disease progression or death by 35.9% versus placebo plus Herceptin and Perjeta.
The median progression-free survival was 24.9 months in the Tukysa arm compared with 16.3 months in the placebo arm, representing an 8.6-month improvement.
The safety profile of the Tukysa regimen was generally consistent with its known profile, although hepatotoxicity was more severe.
PFE’s Price PerformanceYear to date, shares of Pfizer have rallied 18.3% compared with the industry’s increase of 11.7%.
Image Source: Zacks Investment Research
The latest FDA nod expands the use of Tukysa beyond its existing second-line indication in HER2-positive metastatic breast cancer. Pfizer noted that the drug is already an NCCN Category 1 second-line plus treatment for patients with HER2-positive metastatic breast cancer in the United States.
The December 2023 acquisition of Seagen strengthened Pfizer’s oncology portfolio by adding four antibody-drug conjugates or ADCs — Adcetris, Padcev, Tukysa and Tivdak.
PFE’s Strong Position in Oncology SpacePfizer is one of the world’s leading oncology drugmakers with a broad portfolio of marketed cancer therapies as well as a deep oncology pipeline.
The company’s oncology revenues grew 5% in the first half of 2026, driven by drugs like Xtandi, Lorbrena, the Braftovi-Mektovi combination and Padcev. Pfizer considers Padcev to be a potential growth driver in the oncology segment and plans to invest in this asset.
The company is also rebuilding its pipeline in oncology. A key candidate in its oncology pipeline is PF-08634404, a dual PD-1/VEGF inhibitor in-licensed from Chinese biotech 3SBio in 2025. Pfizer has initiated nine studies, including two pivotal phase III studies for PF-08634404 in first-line metastatic colorectal cancer and first-line NSCLC. Pfizer aims to establish PF-08634404 as a potential backbone therapy across multiple tumor types. By 2030, Pfizer expects to have eight or more blockbuster oncology medicines in its portfolio.
PFE’s Zacks Rank & Key PickPfizer currently carries a Zacks Rank #2 (Buy).
A top-ranked stock in the biotech sector is Inovio Pharmaceuticals (INO - Free Report) , 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 Inovio Pharmaceuticals’ 2026 loss per share have narrowed from 99 cents to 72 cents. During the same time, estimates for 2027 loss per share have narrowed from 46 cents to 44 cents. INO shares have lost 33.6% year to date.
Inovio Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 69.05%.
Onkologické tržby Pfizeru ve 2. čtvrtletí 2026 vzrostly o 3 % na 4,17 mld. USD; ve 3. čtvrtletí je mají podpořit výsledky přípravků Padcev, Lorbrena a Braftovi-Mektovi.
Key Takeaways Pfizer's oncology revenues rose 3% to $4.17 billion in Q2, or 2% operationally.Padcev, Lorbrena and Braftovi-Mektovi may offset declines in Ibrance and Adcetris in Q3.Pfizer is advancing PF-08634404 in nine studies, including two pivotal phase III studies. Pfizer (PFE - Free Report) is a major global player in oncology, with a diversified presence across breast, genitourinary, thoracic, gastrointestinal and hematologic cancers. Its established portfolio of marketed cancer treatments is complemented by a robust pipeline covering a range of therapeutic approaches, including small-molecule drugs, antibody-drug conjugates and immuno-oncology biologics.
Oncology sales comprise around 27% of its total revenues. In the second quarter of 2026, oncology revenues increased 3% to $4.17 billion, with 2% operational growth. Investors will be keen to know how its oncology segment performed in the third quarter when the company announces results on Nov. 3.
Pfizer’s oncology sales in the third 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 $692 million, while that for Ibrance is $1.01 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 third quarter of 2026, similar to the past few quarters.
Pfizer is also likely to provide updates on its key oncology candidates on the third-quarter conference call. Several oncology candidates have entered late-stage development, such as atirmociclib, sasanlimaband sigvotatug vedotin.
A key candidate in PFE’s oncology pipeline is PF-08634404, a dual PD-1/VEGF inhibitor in-licensed from Chinese biotech 3SBio in 2025. Pfizer has initiated nine studies, including two pivotal phase III studies for PF-08634404 in first-line metastatic colorectal cancer and first-line NSCLC, and additional phase II studies in small-cell lung cancer and gastroesophageal cancers. Pfizer aims to establish PF-08634404 as a potential backbone therapy across multiple tumor types. An update on PF-08634404 is expected on the third-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 J&J (JNJ - Free Report) , AstraZeneca (AZN - Free Report) , Merck (MRK - Free Report) and Bristol-Myers.
Oncology accounts for nearly 29% of J&J’s total revenues. In the first half of 2026, oncology revenues increased 16.9% to $14.4 billion on an operational basis, fueled by continued momentum for Darzalex and Erleada, although weaker demand for Imbruvica partially offset these gains. 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 46% of total revenues. Sales in its oncology segment rose 15% at constant exchange rate to $14.1 billion in the first half 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 the PD-L1 inhibitor Keytruda and the PARP inhibitor Lynparza, which it markets in partnership with AstraZeneca. Keytruda, approved for several types of cancer, alone accounts for more than 55% of the company’s pharmaceutical sales. Keytruda recorded sales of $15.8 billion in the first half of 2026, up 4% year over year.
PFE’s Price Performance, Valuation and EstimatesPfizer’s stock has risen 12.5% so far this year compared with an increase of 9.8% for the industry.
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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 9.48 forward earnings, significantly lower than 17.65 for the industry. However, PFE trades slightly above the stock’s five-year mean of 9.25.
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The Zacks Consensus Estimate for 2026 earnings has risen from $2.97 per share to $2.98 per share, while that for 2027 has risen from $2.94 per share to $2.95 per share over the past 60 days.
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Pfizer has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Pfizer (PFE -1.45%) is offering a dividend yield of roughly 6% today. That is well above the roughly 1% yield on offer from the S&P 500 index (^GSPC -0.34%) and the 1.4% average yield of pharmaceutical stocks. There are good reasons for the negative view of Pfizer, but investors may be ignoring the company's over 100-year history of success. Here's why you may want to consider buying this out-of-favor dividend stock while others are fearful.
Pfizer is facing normal industry headwinds Pfizer's stock rocketed higher during the coronavirus pandemic, as investors myopically focused on the company's COVID vaccine. When COVID turned out to be a less serious long-term threat than originally believed, Wall Street dumped Pfizer. At this point, the stock is down more than 50% from its 2021 high. That is a big part of the story behind the high yield.
Image source: Getty Images.
However, there's another piece that is more fundamental to the pharmaceutical industry. Like all drug makers, Pfizer's drugs receive time-limited patent protections. When patents expire, generic versions of the medications can be produced. That generally leads to a dramatic decline in revenue from Pfizer's drugs. Right now, Pfizer is facing down some notable patent expirations. This is a completely normal dynamic in the pharmaceutical sector.
Patent expirations are why drug companies are always on the lookout for new drugs. The problem is that patent expirations follow a set schedule, but drug development does not. Pfizer's drug pipeline isn't producing major new drugs right now, and it looks like it may have to work through a period in which new drugs won't fully offset revenue lost to patent expirations. This isn't uncommon, either, but investors are likely focusing on the short term rather than the long term when it comes to Pfizer.
Pfizer fumbles the GLP-1 opportunity A key driver of Wall Street's negativity is probably the GLP-1 weight-loss opportunity. Pfizer isn't even in the race yet, after one of its own drugs flamed out. No wonder the company's price-to-forward-earnings ratio is below 10x, while Eli Lilly (LLY -3.70%), the leader in the GLP-1 space, has a price-to-forward P/E of 24x.
To Pfizer's credit, however, it moved quickly to address its GLP-1 shortfall, buying a company with an attractive weight-loss drug still in development. It is also advancing a number of other drugs, notably in the cancer space, which is an extremely large treatment area. History suggests the company is dealing with a timing issue, not a fundamental shortfall of its business. Given enough time, Pfizer is highly likely to get back on track.
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Will Pfizer's 6% yield survive? Pfizer's management has stated clearly that it intends to support the dividend. In fact, the goal is to grow the dividend over the long term. Moreover, the company ended the second quarter with more than $11 billion in cash on its balance sheet, providing ample liquidity to support its business and dividend. While its dividend payout ratio is troublingly high, its cash dividend payout ratio is roughly 90%, so it still has the cash flow to cover the payout. (Dividends are paid out of cash flow, not earnings, which is why the financial impact of dividends is found on the cash flow statement.)
Given that Pfizer is facing patent expirations without new drugs to replace the income it will lose, there is clearly a near-term risk. That includes a risk that the dividend could be cut. However, even with a 50% dividend cut, the yield would remain attractively high. And given the stock price, you could easily argue a cut has already been priced in. Meanwhile, the company's long history of success suggests that it will eventually work through this period. More aggressive dividend investors may want to give it the benefit of the doubt, with the worst-case scenario likely being a still above-market and peer yield.
The Pfizer logo in New York City, U.S., August 25, 2026. REUTERS/Jeenah Moon Purchase Licensing Rights, opens new tab
CompaniesROME, Oct 7 (Reuters) - Pfizer (PFE.N), opens new tab will cut around 330 jobs in Italy at its Sicily plant, labour unions said on Wednesday, making the US drugmaker the latest international company downsizing its Italian operations.
Talks in Rome between Pfizer and Italy's industry ministry late on Tuesday did not yield results, the CGIL, CISL and UIL unions said in a statement.
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Pfizer's Sicily plant currently has 550 employees, unions said.
Pfizer was not immediately available for comment.
Italy's industry ministry said "the points raised during the meeting serve as a starting point for strengthening the dialogue," adding that industry minister Adolfo Urso would visit the plant on October 23.
Further talks between Pfizer and the ministry are scheduled for November 10, the ministry added.
Earlier this week, appliance maker Electrolux (ELUXb.ST), opens new tab presented a scaled-down restructuring plan for its Italian operations, with around 1,250 jobs now expected to be made redundant.
Swedish telecoms equipment maker Ericsson (ERICb.ST), opens new tab also said on Monday that, following talks with the ministry, a collective layoff of 131 workers in Genoa would be dropped in favour of a voluntary restructuring plan.
Reporting by Anna Uras; Editing by Cristina Carlevaro and Joe Bavier
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Pfizer Inc. (NYSE:PFE – Get Free Report) declared a quarterly dividend on Tuesday, October 6th. Stockholders of record on Friday, November 6th will be paid a dividend of $0.43 per share by the biopharmaceutical company on Monday, December 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, November 6th.
Pfizer has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 16 years. Pfizer has a payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pfizer to earn $2.95 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 58.3%.
Pfizer Stock Performance Shares of PFE stock opened at $27.48 on Wednesday. The company has a market capitalization of $156.63 billion, a price-to-earnings ratio of 36.16, a P/E/G ratio of 1.84 and a beta of 0.32. Pfizer has a 1-year low of $23.62 and a 1-year high of $29.21. The company has a current ratio of 1.27, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The stock’s fifty day simple moving average is $27.50 and its 200-day simple moving average is $26.48.
Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.09. Pfizer had a return on equity of 19.63% and a net margin of 6.80%.The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same period in the prior year, the business earned $0.78 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. On average, sell-side analysts predict that Pfizer will post 2.98 earnings per share for the current fiscal year. Hedge Funds Weigh In On Pfizer Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Moody National Bank Trust Division lifted its stake in Pfizer by 3.7% in the third quarter. Moody National Bank Trust Division now owns 86,627 shares of the biopharmaceutical company’s stock valued at $2,471,000 after acquiring an additional 3,061 shares during the last quarter. Legacy Private Trust Co. acquired a new position in shares of Pfizer during the 3rd quarter worth $207,000. Park National Corp OH raised its holdings in shares of Pfizer by 6.4% during the 3rd quarter. Park National Corp OH now owns 257,556 shares of the biopharmaceutical company’s stock valued at $7,345,000 after purchasing an additional 15,475 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its stake in shares of Pfizer by 35.0% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 12,951 shares of the biopharmaceutical company’s stock valued at $369,000 after purchasing an additional 3,361 shares during the last quarter. Finally, Argent Capital Management LLC acquired a new stake in shares of Pfizer in the 3rd quarter valued at $8,128,000. Institutional investors own 68.36% of the company’s stock.
About Pfizer (Get Free Report)
Pfizer Inc (NYSE:PFE) is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its research and commercial activities focus on areas including oncology, inflammation and immunology, internal medicine, hospital care and vaccines.
The company’s portfolio includes widely used products such as the Prevnar family of pneumococcal vaccines, Ibrance for certain breast cancers, Eliquis for preventing blood clots, Xeljanz for inflammatory conditions, and Vyndaqel for transthyretin amyloidosis.
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Pfizer nabízí dividendový výnos 6,2 %; volné peněžní toky za poslední čtyři čtvrtletí dosáhly 11 mld. USD a převýšily vyplacené dividendy o více než 1 mld. USD.
Pfizer (PFE -1.40%) has been a reliable healthcare company to invest in for decades, also providing shareholders with some terrific dividend income along the way. Nowadays, however, it's struggling to attract any investors at all.
While its shares are up over 10% this year, over the past five years, they're still down 35%. Worries about its future growth and the safety of the payout are keeping investors away. Here's why I think that's a mistake, and why it may just be the most underrated dividend stock out there today.
Image source: Getty Images.
The stock's 6.2% yield is not as risky as it appearsMany investors may scoff at stocks that have high yields, out of fear that they simply are too good to be true, and that a cut could be due. But that isn't always the case. In fact, there can be low and modest-yielding stocks that can be riskier. Yield is not always indicative of risk.
What matters are the underlying earnings and cash flow numbers. Pfizer's free cash flow has totaled $11 billion over the past four quarters, which is over $1 billion more than what it has paid in dividends during that time frame.
The healthcare company has been incurring losses recently, but that has been largely the result of writedowns and non-cash expenses. Its adjusted per-share earnings in its most recent quarter came in at $0.77, which is higher than the rate of its quarterly dividend ($0.43). Thus, its 6.2% yield doesn’t look all that risky.
Pfizer has been focusing on making its business leaner, and restructuring expenses have weighed on its financials. But ultimately, it should come out with better margins and strong profits.
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Pfizer's low valuation compensates investors for uncertainty aheadDue to the steep sell-off in recent years, Pfizer's stock is looking incredibly undervalued right now. It's trading at a forward price-to-earnings multiple of just 10. That's based on analyst expectations for future earnings. That's far lower than the S&P 500 average of 20.
The company is facing patent cliffs on some of its top drugs, but it has also been investing in its future growth and expanding its pipeline of drug candidates. Currently, it has 95 candidates. Even if not all of them succeed, a few solid ones could reenergize growth and alleviate concerns about the stock.
Pfizer is a stock that looks well overdue for a rally. Although it's been rising this year, it can still have much more to rise. At a low valuation and with an incredibly high dividend yield, it's one of the best stocks to buy right now.
Pfizer uvedl, že je „extrémně“ přesvědčen o udržení dividendy; v posledním čtvrtletí mu provozní tržby nově uvedených a převzatých produktů vzrostly o 18 %.
If you've been looking for high-yield stocks, Pfizer (PFE -1.40%) may have crossed your radar screen. As shares of the pharma giant slipped over the past few years, its dividend yield marched higher, and in recent times, settled at 6%.
High dividend yields are great, but the pattern of a dividend yield rising as the stock price falls could be a warning sign. That's because a declining stock price may signal business troubles. This, in and of itself, is negative, but it also suggests that, if the financial situation is rough, the company may not be able to maintain its dividend.
In the case of Pfizer, the pharma giant has indeed faced difficult times over the past few years. Demand for its coronavirus products has been on the decline from early pandemic levels, and the company lost exclusivity on a number of blockbusters. The company launched a cost realignment plan, which was positive news, but such plans take time, and it's not guaranteed that the most important goals will be met.
So, you might not have rushed into Pfizer stock, even if you like high-dividend players. Now, here's why Pfizer's 6% dividend yield might finally be worth the risk.
Image source: Getty Images.
The Pfizer of the past First, let's back up a bit and consider the Pfizer of a few years back. The company offers a broad portfolio of drugs across treatment areas, but it soared onto center stage thanks to its coronavirus vaccine and treatment. These products helped Pfizer reach a record of more than $100 billion in annual revenue back in 2022. But in the later days of the pandemic, as demand declined, the company's revenue fell significantly, and it became clear that the coronavirus portfolio wouldn't return to its earlier revenue levels.
Meanwhile, Pfizer was preparing to lose exclusivity on blockbusters including immunology drug Xeljanz and blood thinner Eliquis.
To combat these negative elements, Pfizer put into place a plan to realign costs with the revenue opportunity in the coronavirus space, and the company focused on pipeline development and growth through acquisition. Pfizer experienced its biggest wave of regulatory approvals over an 18-month period spanning 2023 and 2024. In 2023 alone, Pfizer won seven approvals across treatment areas.
Pfizer also completed the acquisition of oncology company Seagen in late 2023, a move that brought it four commercialized drugs and a fresh pipeline to potentially lead to future products. In the latest earnings call, Pfizer called the acquisitions of Seagen, cardiometabolic company Metsera, and migraine specialist Biohaven "transformative opportunities."
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Pfizer's commitment to its dividend As Pfizer began this transition into new drug launches and acquisitions and started to trim its costs, risk was high, and investors may have worried whether the company would even temporarily halt dividend payments. But in recent times, Pfizer has offered us reasons for optimism.
First, it's unlikely that the company will cut its dividend. In the recent earnings call, chief Albert Bourla, when asked about the possibility, said: "We feel extremely confident that we will -- even the most stretched scenarios that we are running, we will be able to maintain our dividend."
In the latest quarter, select recently launched and acquired products posted an 18% operational revenue gain, and the company lifted annual revenue guidance by $500 million at the midpoint to the range of $60.5 billion to $62.5 billion. The pharma powerhouse expects several trial readouts in the coming 12 months and says it's on track to return to growth as of 2029.
Pfizer shares have started to recover, delivering a 15% gain so far this year, and that's helped push valuation higher. Still, at 9.6x forward earnings estimates, the stock remains reasonably priced. Meanwhile, the company has expressed its commitment to rewarding shareholders with dividends, and continues to pay $1.72 per share, representing a yield of 6%.
Pfizer's progress along the recovery path and its focus on maintaining its dividend have significantly reduced risk for investors, making now a great time to get in on this high-yield player.
Florida podala žalobu na Pfizer a generálního ředitele Alberta Bourlu kvůli údajnému klamání o bezpečnosti a účinnosti vakcíny proti COVID-19. Stát tvrdí, že firma vydělala přes 80 miliard USD a v roce 2023 zvýšila cenu dávky z 30 USD na 110 až 130 USD.
Florida Attorney General James Uthmeier on Thursday filed a lawsuit against Pfizer (PFE.N) and its CEO, Albert Bourla, accusing the drugmaker of misleading consumers about the safety and effectiveness of its COVID-19 vaccine.
Here are more details:
Uthmeier filed the lawsuit in state court, alleging that Pfizer told consumers its COVID-19 vaccine was safe while failing to disclose potential risks, including heart inflammation and other adverse events.
Pfizer, according to the lawsuit, urged people to get the shot to protect others, even though the company never tested whether the vaccine stopped the virus from spreading.
Florida has also accused Pfizer of using unfair tactics to dominate the market.
It said the company made more than $80 billion from vaccine sales, then nearly quadrupled the price of the vaccine to $110 to $130 a dose in 2023 from $30.
The state, suing under its consumer protection law, wants a court order to stop the alleged conduct, fines of $10,000 per violation, or $15,000 when seniors or disabled people were harmed, and the return of profits.
Pfizer said in a statement the state's allegations have no merit and that it would respond to the suit in due course.
"The representations made by Pfizer about its COVID-19 vaccine have been accurate and science-based, and the company stands behind the safety and efficacy of its vaccine," the company said.
"The complaint and comments by Florida Attorney General James Uthmeier speak for themselves," the Florida Attorney General's Office said in response to a Reuters request for additional comment.
Study met primary endpoint, showing a statistically significant increase in the percentage of participants achieving EASI-75 versus placebo at Week 16, for the potentially first-in-class trispecific antibody
NEW YORK--(BUSINESS WIRE)--Pfizer Inc. (NYSE: PFE) today presented detailed results from an ongoing Phase 2 study investigating tilrekimig (PF-07275315) in adults with moderate-to-severe atopic dermatitis (AD). The study met its primary endpoint, demonstrating a statistically significant increase in the percentage of participants achieving EASI-75* (≥75% reduction in the Eczema Area and Severity Index) at Week 16 across all evaluated doses compared to placebo. The findings were shared today in an oral presentation at the 35th European Academy of Dermatology and Venereology (EADV) Annual Congress in Vienna, Austria.
Tilrekimig is an investigational, potential first-in-class trispecific antibody that simultaneously inhibits upstream and downstream drivers of type 2 inflammation through concurrent high-affinity binding to interleukin-4 (IL-4), interleukin-13 (IL-13), and thymic stromal lymphopoietin (TSLP). By directly blocking TSLP together with its downstream effectors, tilrekimig is designed to provide broader cytokine pathway coverage and potentially more durable clinical responses. Tilrekimig is also designed to have an extended half-life of about 37 days, which is anticipated to support monthly administration.
“Tilrekimig is a promising investigational medicine in Pfizer’s inflammation and immunology pipeline as we seek to pursue next-generation biologics that address persistent unmet medical needs. The compelling efficacy and tolerability demonstrated in this Phase 2 study validate this multi-pathway, trispecific approach and suggest that tilrekimig has the potential to raise the bar beyond current standard-of-care biologics. Building on these promising findings, we have initiated Phase 3 trials of tilrekimig in atopic dermatitis and asthma, and we are advancing a Phase 2b/3 study in COPD.”
“Systemic treatment in moderate-to-severe atopic dermatitis has moved from broad immunosuppression to targeted therapy, and that shift has meaningfully changed what we can offer patients. But atopic dermatitis is driven by several inflammatory signals, and a substantial proportion of patients still live with persistent itch and extensive skin involvement. The Week 16 results presented today are meaningful at this stage of development, with tilrekimig’s tolerability profile supporting continued study in a larger patient population.”
- Eric Simpson, M.D., M.C.R., Department of Dermatology, Oregon Health & Science University
Detailed Phase 2 Study Results at Week 16
The ongoing Phase 2 trial is evaluating adult patients with moderate-to-severe AD. Data presented at EADV reflect the first two stages of the study, which evaluated biologic-naïve patients: Stage 1 evaluated subcutaneous tilrekimig 450 mg every two weeks (Q2W) versus placebo. Stage 2 was a dose-ranging evaluation of tilrekimig 400 mg, 200 mg, or 50 mg every four weeks (Q4W) versus placebo. The results presented at EADV build upon previously announced topline results. Primary Endpoint (EASI-75 at Week 16): In Stage 1, 62.5% of patients receiving tilrekimig 450 mg Q2W achieved EASI-75, compared to 19.9% in the placebo group (p=0.0008). In Stage 2, 58.5% (400 mg Q4W), 61.0% (200 mg Q4W), and 47.8% (50 mg Q4W) of patients receiving tilrekimig achieved EASI-75, an absolute improvement of 49.4%, 51.9%, and 38.7%, respectively, compared to 9.1% for placebo (all p<0.003). Key Secondary Endpoint: vIGA 0/1 (Clear/Almost Clear skin with ≥2-point improvement): In Stage 1, 30.3% of patients in the 450 mg Q2W group achieved vIGA 0/1 (vs 11.8% for placebo; p=0.0251) In Stage 2, 26%–27% of patients across the Q4W groups achieved vIGA 0/1 (vs 0% for placebo; all p<0.006). Exploratory Endpoint: Itch Reduction (PP-NRS4): In an exploratory analysis, greater proportions of patients receiving tilrekimig achieved a ≥4-point reduction in weekly average Peak Pruritus Numerical Rating Scale compared to placebo, with treatment differences of 35.3% (42.5% vs 7.2%) in the 400 mg Q4W group and 43.6% (50.8% vs 7.2%) in the 200 mg Q4W group. Safety: Tilrekimig was well-tolerated, with no dose-dependent safety signals, with treatment-emergent adverse event (TEAE) rates comparable between treatment and placebo groups. In Stage 1, TEAEs were reported in 46.7% of patients receiving tilrekimig 450 mg Q2W versus 28.9% of patients receiving placebo. In Stage 2, TEAEs were reported in 42.2%, 47.7%, and 47.8% of patients receiving tilrekimig 400 mg, 200 mg, and 50 mg Q4W, respectively, versus 52.2% of patients receiving placebo. In doses up to 400 mg of tilrekimig Q4W, the observed frequency of conjunctivitis and injection-site reactions in this study was lower than rates reported with IL-4 receptor alpha inhibitors and comparable to placebo. There were no serious adverse events related to tilrekimig in both stages 1 and 2. About the Tilrekimig Clinical Trial Program
The Phase 2 study is an ongoing randomized, double-blind, placebo-controlled trial in adults with moderate-to-severe atopic dermatitis.
The Phase 3 pivotal program for tilrekimig is underway, with patients dosed in three Phase 3 studies: two in atopic dermatitis — including one with dupilumab as an active comparator — and one in asthma. Pfizer is also studying tilrekimig in an ongoing Phase 2b/3 study in chronic obstructive pulmonary disease (COPD).
Continuing Pfizer’s Commitment to Inflammation and Immunology Conditions
These results build on Pfizer’s ongoing commitment to advancing care for people living with immune-mediated skin conditions. Pfizer currently offers three approved medicines across atopic dermatitis and alopecia areata and continues to invest in a growing dermatology pipeline focused on addressing unmet needs for patients across these conditions.
Pfizer is presenting more than 30 accepted abstracts across its dermatology portfolio at the 35th EADV Congress, spanning atopic dermatitis, alopecia areata, and nonsegmental vitiligo.
Also in atopic dermatitis, Pfizer will present a late-breaking exploratory analysis of serum protein biomarkers from the Phase 3 JADE COMPARE study of CIBINQO (abrocitinib), alongside a final integrated safety analysis of 3,850 patients with up to 6.5 years of exposure. In nonsegmental vitiligo (NSV), Pfizer will present Phase 3 results from the TRANQUILLO program evaluating LITFULO (ritlecitinib) as an investigational medicine in the largest Phase 3 program to date studying an oral systemic therapy in NSV. In alopecia areata, Pfizer plans to share long-term Phase 3 data showing clinically meaningful improvements in scalp hair regrowth with LITFULO through five years, with no new safety signals observed. Pfizer has also initiated a pivotal study evaluating LITFULO for the treatment of moderate alopecia areata. For more information on Pfizer’s Commitment to Immunology and Inflammation, please visit: Inflammation & Immunology | Pfizer.
For more information on Tilrekimig and the trispecific program, please visit: Pfizer’s Phase 2 Study of Trispecific Antibody Positive in Moderate to Severe Atopic Dermatitis | Pfizer.
About Atopic Dermatitis
Atopic dermatitis is more than “just a rash.” It is a chronic Type 2 (Th2) inflammatory skin condition, affecting people of all ages and genders around the world.1,2 Atopic dermatitis is the most common form of eczema, and sometimes the terms are used interchangeably.3 The most frequent symptom of atopic dermatitis is itchy skin, which can lead to rashes, pain, and poor sleep.3 The condition can be debilitating, disrupting patients’ daily lives, and negatively affecting their emotional well-being. Many patients do not experience a clinically meaningful response to currently available treatments, signaling a critical need for further innovation in this class of medicines.
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 more than 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 www.facebook.com/Pfizer/.
Disclosure Notice
The information contained in this release is as of October 1, 2026. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
This release contains forward-looking information about tilrekimig (PF-07275315), including its potential benefits, the development program for tilrekimig, results from an ongoing Phase 2 trial for tilrekimig in patients with moderate-to-severe atopic dermatitis, the initiation of Phase 3 trials of tilrekimig in atopic dermatitis and asthma and the advancement of a Phase 2b/3 study in COPD, and Pfizer’s ongoing commitment to advancing care for people living with immune-mediated skin conditions and continued investment in a growing dermatology pipeline focused on addressing unmet needs for patients across these conditions, that involves 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; the risks associated with initial, preliminary or interim data; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from our clinical studies; whether and when applications for tilrekimig may be filed in particular jurisdictions for any potential indications; whether and when any such applications for tilrekimig that may be filed 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 tilrekimig 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 tilrekimig; risks and uncertainties related to issued or future executive orders or other new, or changes in, laws or regulations; uncertainties regarding the impact of COVID-19 on Pfizer’s 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.
References
1 Jeskey J, Kurien C, Blunk H, et al. Atopic dermatitis: A review of diagnosis and treatment. J Pediatr Pharmacol Ther. 2024 Dec;29(6):587-603. doi: 10.5863/1551-6776-29.6.587.
2 Choragudi S, Yosipovitch G. Trends in the prevalence of eczema among US children by age, sex, race, and ethnicity from 1997 to 2018. JAMA Dermatol. 2023;159(4):454-456.
3 Chovatiya R. Atopic dermatitis (eczema). JAMA. 2023 Jan 17;329(3):268. doi: 10.1001/jama.2022.21457.
Category: Research and Pipeline
* EASI-75 is the industry standard for measuring how effectively a treatment candidate reduces atopic dermatitis (eczema) severity and extent from baseline.
Nurix Therapeutics oznámila dosažení milníku 7 milionů USD v rámci strategické spolupráce se společností Pfizer na vývoji degrader antibody conjugates (DACs). Celkem už z této dohody obdržela 82 milionů USD.
Milestone reflects continued progress in collaboration to develop a novel class of degrader antibody conjugates, or DACs | Source: Nurix Therapeutics, Inc.
BRISBANE, Calif., Sept. 29, 2026 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, today announced the achievement of a $7 million research milestone under its strategic collaboration with Pfizer for the discovery and development of degrader antibody conjugates (DACs).
Nurix entered into the collaboration with Seagen Inc., now part of Pfizer, in September 2023. Under the terms of the agreement, Nurix received an upfront payment of $60 million and became eligible to receive up to $3.4 billion in potential research, development, regulatory and commercial milestone payments across multiple programs, as well as mid-single-digit to low-double-digit percentage tiered royalties on future product sales. Nurix also retains an option for U.S. profit sharing and co-promotion on up to two products arising from the collaboration. In connection with today’s announcement, Nurix will receive a $7 million milestone payment from Pfizer, which will bring the total amount received under this agreement to $82 million.
About Degrader Antibody Conjugates (DACs)
DACs are an emerging therapeutic modality designed to combine the cell and tissue selectivity of antibodies with the catalytic mechanism of targeted protein degraders. Unlike traditional antibody-drug conjugates (ADCs), which typically deliver cytotoxic payloads to antigen-expressing cells, DACs deliver targeted protein degraders designed to eliminate specific disease-driving proteins. This approach has the potential to provide multiple layers of selectivity based on cell-surface antigen expression, the intracellular protein target and E3 ligase expression.
About Nurix Therapeutics, Inc.
Nurix Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, a new frontier in drug discovery aimed at improving treatment options for patients with cancer and autoimmune diseases. Nurix’s clinical-stage oncology pipeline includes bexobrutideg, a degrader of BTK being co-developed with Roche, and NX-1607, an inhibitor of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), an E3 ligase that regulates activation of multiple immune cell types including T cells and NK cells. Nurix’s autoimmune disease pipeline includes bexobrutideg in collaboration with Roche and clinical-stage degraders of IRAK4 in collaboration with Gilead and STAT6 in collaboration with Sanofi. Nurix is also advancing multiple potentially first-in-class or best-in-class degraders and degrader antibody conjugates in its wholly owned preclinical pipeline and under collaboration agreements with Gilead Sciences, Inc., Sanofi S.A. and Pfizer Inc., within which Nurix retains certain options for co-development, co-commercialization and profit sharing in the United States for multiple drug candidates. Powered by an AI-integrated discovery engine capable of tackling virtually any protein class, and coupled with unparalleled ligase expertise, Nurix’s dedicated team has built a formidable advantage in translating the science of targeted protein degradation into clinical advancements. Nurix aims to establish degrader-based treatments at the forefront of patient care, writing medicine’s next chapter with a new script to outmatch disease. Nurix is headquartered in Brisbane, California. For additional information, visit www.nurixtx.com.
Forward-Looking Statements
This press release contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that reflect Nurix’s expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding: Nurix’s expectations for its collaboration with Pfizer; the potential benefits of Nurix’s collaboration with Pfizer; the potential benefits of degrader antibody conjugates; and the potential achievement of milestone, royalty and license payments under the Nurix-Pfizer collaboration. Forward-looking statements reflect Nurix’s current beliefs, expectations, and assumptions. Although Nurix believes such expectations and assumptions are reasonable, Nurix can give no assurance that they will prove to be correct. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, which could cause Nurix’s actual activities and results to differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to: (i) the ability of each party to perform its obligations under the Nurix-Pfizer collaboration; (ii) whether the parties will be able to successfully conduct and complete preclinical development, clinical development and commercialization of any drug candidates under the Nurix-Pfizer collaboration; (iii) the unexpected emergence of adverse events or other undesirable side effects during preclinical and clinical development; (iv) whether Nurix will be able to fund development activities and achieve development goals, including those under the Nurix-Pfizer collaboration; (v) risks and uncertainties relating to the timing and receipt of payments from Nurix’s collaboration partners, including milestone payments and royalties on future potential product sales; and (vi) other risks and uncertainties described under the heading “Risk Factors” in Nurix’s Quarterly Report on Form 10-Q for the fiscal period ended May 31, 2026, and other SEC filings. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. The statements in this press release speak only as of the date of this press release, even if subsequently made available by Nurix on its website or otherwise. Nurix disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.
Contacts:
Media and Investors
Kris Fortner
Nurix Therapeutics, Inc. [email protected]
Pfizer byl zvýšen na buy díky nízkému ocenění, silnému volnému cash flow a dividendovému výnosu 6,2 %. Firma zároveň ve 2. čtvrtletí překonala očekávání a zvýšila celoroční výhled tržeb.
SummaryPfizer is upgraded to buy, supported by a low valuation, strong free cash flow, and a high 6.2% dividend yield.PFE delivered a Q2 double beat, raised full-year revenue guidance, and benefits from pipeline progress, though COVID-19 product sales guidance was trimmed.Technical momentum is building, with a golden cross and bullish rounded bottom pattern, but resistance remains near $30.Key risks include pipeline uncertainty, earnings outlook volatility, litigation, and policy headwinds, but investors are paid to wait. VIDOK/iStock Unreleased via Getty Images
Pfizer (PFE) has sprung back to life in 2026. Even with a stumble since late August, shares of this big-cap pharma name are up 17% on the year, dividends included. The stock was little changed to begin the
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Pfizer přestavuje růstovou strategii na nové a získané produkty, které už v mezinárodním byznysu vynesly 4 miliardy USD. Zároveň snižuje závislost na portfoliu produktů proti covidu, jehož tržby mají klesnout na 4 miliardy USD v roce 2026.
The Phase 3 Failure That Sent Biotech Winners and Losers in Opposite DirectionsPfizer NYSE: PFE has rebuilt its commercial model around newer and acquired products while reducing exposure to its COVID-19 franchise, according to Alexandre de Germay, the company’s chief international commercial officer and executive vice president.
Speaking with Chris Schott at a company event, de Germay said Pfizer has redirected spending toward markets and products where it believes it can generate stronger returns. He said the company had been spreading resources too broadly following the acquisition of Seagen and a series of product and vaccine launches.
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Patent Cliff Predators: GSK Acquires Nuvalent For $10.6 Billion“We needed to actually refocus on our portfolio, pipeline, and understand where we can win and redeploy the resources behind those territories and behind those products,” de Germay said.
New Products Become a Larger Base De Germay said new and newly acquired products in Pfizer’s international business generated about $500 million in 2023 and have since risen to $4 billion. At the global level, he said new acquired and launched products produced $3.2 billion in the second quarter, up 18% following 22% growth in the first quarter.
2 Ways to Play the Big Pharma Patent CliffAt the same time, the company has reduced its dependence on COVID-19 products. De Germay said Pfizer generated about $11 billion from COVID vaccines and antivirals in 2024, approximately $6.7 billion in 2025, and has guided for $4 billion in 2026.
The company has also cut operating expenses and halted certain launches, commercial structures and clinical studies that it viewed as less productive, he said. In the international organization, sales-force productivity has tripled over three years through more focused resource deployment, according to de Germay.
He pointed to vaccines and oncology as examples of markets with further growth potential. In Brazil, Pfizer has expanded Prevnar 20 vaccination, reaching an 80% vaccination rate among the country’s 2.5 million babies, he said. In older-adult vaccines, he cited vaccination rates of 25% of the target population in France, 28% in Germany and 3% in Japan as evidence of potential room for growth.
De Germay also highlighted LORBRENA in lung cancer, saying it has reached between 60% and 70% of first-line new patient starts in certain markets and 77% in France. The product generated $250 million internationally during the quarter, which he said puts it at roughly a $1 billion annualized level.
Pipeline Focused on Existing Strengths Pfizer currently has 31 Phase III clinical studies underway, de Germay said. He described the pipeline as increasingly aligned with therapeutic areas where the company already has commercial and medical capabilities, including thoracic cancer, breast cancer, prostate cancer, vaccines and internal medicine.
In thoracic cancer, Pfizer has three Phase III candidates, including two antibody-drug conjugates and a bispecific candidate targeting VEGF and PD-L1, according to de Germay. He said the company’s commercial infrastructure and established presence with LORBRENA could support additional assets in the category.
He also discussed chronic weight management as a major opportunity. De Germay said Pfizer recently commercialized ecnoglutide, its first GLP-1 product in China, and views the broader market as consisting of numerous patient segments with different needs for efficacy, tolerability, dosing and access.
Pfizer’s obesity portfolio includes bempaglutide in Phase III, a GLP-1 and amylin combination expected to read out by year-end, and additional oral and ultra-long-acting programs being developed by the Metsera team, he said. Pfizer will also continue evaluating external opportunities, including potential assets from China.
Pricing, China and AI On international pricing, de Germay said Pfizer’s most-favored-nation agreement helped remove the threat of tariffs to the industry and has supported discussions about pricing innovation more fairly in markets outside the United States. He cited changes in the United Kingdom, including inflation being reflected in NICE assessments, a reduction in clawback mechanisms and a commitment to allocate 0.6% of GDP to innovative medicines.
He said governments in Europe and Japan are facing greater pressure to improve conditions for life-sciences innovation as China’s biotechnology industry expands. China produces about 300,000 science and technology PhDs annually, he said, while about 50% of global clinical studies across antibody-drug conjugate and bispecific platforms are being run in China.
Pfizer has pursued deals with Chinese companies including Innovent and 3SBio, while also preparing to compete with Chinese drugmakers in global markets, de Germay said.
Artificial intelligence is already contributing to commercial productivity, he said, including sales-force analytics, training, medical reporting and regulatory paperwork. Looking ahead, he said electronic health records could help reshape clinical development by enabling companies to identify potential study participants more efficiently.
In his additional role chairing Pfizer’s portfolio management team, de Germay said the company is evaluating development and business-development opportunities not only individually, but also based on their contribution to the overall portfolio. The approach considers returns, projected sales, technical and regulatory probabilities of success, as well as competitive, access and regulatory “swing factors.”
About Pfizer (NYSE:PFE)Pfizer Inc is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its portfolio addresses a range of therapeutic areas, including oncology, inflammation and immunology, internal medicine, hospital care, rare diseases and infectious diseases. The company serves patients and healthcare providers in markets worldwide.
Pfizer's products include the Comirnaty COVID-19 vaccine, the Prevnar family of pneumococcal vaccines, and medicines such as Eliquis, Ibrance, Vyndaqel and Zavzaret.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Pfizer uvedla, že je „extrémně sebevědomá“, že udrží dividendu i v nejhorších scénářích. Firma má navíc hotovost a růstové portfolio, které má tlumit dopady patentového útesu.
Pfizer's (PFE -0.33%) forward dividend yield currently tops 6.2%. You can count the number of S&P 500 (^GSPC -0.45%) members with higher yields on your fingers -- and have several fingers to spare.
Does Pfizer's dividend program face big questions? Absolutely. However, that doesn't mean the drugmaker's dividend is in imminent jeopardy. Here are three reasons Pfizer's dividend should survive.
Image source: Getty Images.
1. Management commitment to the dividend Pfizer CEO Albert Bourla emphasized in his opening remarks during the company's second-quarter earnings call in August, "We remain committed to maintaining and, over time, growing our dividend." This statement echoes what Bourla has said multiple times in the past.
Interim CFO Cecile Guegan referenced maintaining the dividend and growing it over the long term, not just once, not just twice, but three times during her financial report in the Q2 call. Guegan stressed that Pfizer would keep the dividends flowing while continuing to invest in growth.
However, the most striking example of Pfizer's commitment to the dividend came later in the earnings call. Morgan Stanley (NYSE: MS) analyst Terence Flynn asked Bourla point-blank what would have to happen for Pfizer to consider cutting its dividend. Bourla responded that the management team is "extremely confident that we will -- even the most stretched scenarios that we are running -- we will be able to maintain our dividend." He even added that he wanted to "once and for all to make that clear to all" that Pfizer would maintain its dividend and eventually resume growing it.
Sure, executives sometimes say things that they eventually have to walk back. But I think it's highly unlikely that Bourla would make such a forceful statement if he thought there was any chance of a dividend cut in the future.
2. Pfizer's growth portfolio There's a simple explanation for why some investors are concerned about Pfizer's dividend: The company faces a daunting patent cliff. The good news, though, is that Pfizer's growth portfolio already appears to be offsetting the anticipated revenue declines resulting from products losing exclusivity faster than expected.
Pfizer has exceeded revenue expectations in nine of the past 10 quarters. It has beaten adjusted earnings estimates in all of the past 10 quarters.
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One-fourth of Pfizer's operating revenue growth in Q2 came from acquired products. Therapies gained as a result of the Seagen acquisition delivered 21% year-over-year operating revenue growth. In comparison, operating revenue for the migraine drug Nurtec (which Pfizer added with its acquisition of Biohaven) jumped 17%.
Pfizer continues to project a high single-digit compound annual growth rate in revenue over the next five years. New products will be important in achieving this goal, including the promising weight-loss drug berobenatide, which was added to the pipeline through Pfizer's acquisition of Metsera.
3. A nice cash stockpile Importantly, Pfizer also boasts a sizable cash stockpile on its balance sheet, which further bolsters its ability to fund the dividend program. As of June 28, 2026, the company's cash, cash equivalents, and short-term investments totaled roughly $11.7 billion.
We know that Pfizer isn't planning to use its cash to pay down debt. Guegan stated in the Q2 earnings call, "Given the LOE [loss of exclusivity] impact over the next few years, we expect leverage to remain around the current level or modestly higher through this transition period."
Pfizer isn't likely to buy back shares, either. Guegan mentioned "reserving optionality for future value-enhancing actions, including share repurchases," but there was no hint that any share buybacks were imminent.
The company could spend some of its cash on business development. However, Bourla told analysts during the Q2 call that any further acquisitions would be "bolt-on" deals.
No dividend increase anytime soon, but no cuts Don't bank on Pfizer increasing its dividend in the near future. Management's references to potentially resuming dividend growth are focused on after 2028. However, I don't think investors should be afraid of a dividend cut. Pfizer appears to be in a position to weather the patent cliff while continuing to pay dividends at the current level.
Yes, Pfizer faces challenges with multiple drugs losing exclusivity over the next couple of years. But with an ultra-high yield and a low valuation, this big pharma stock remains a good pick, in my view, for income investors who aren't too risk-averse.
Pfizer čeká na rozhodnutí FDA o rozšíření kombinace Talzenna/Xtandi do HRR gen-mutované metastatické kastračně senzitivní rakoviny prostaty. Novartis mezitím rozšířil použití Pluvicto na PSMA-pozitivní metastatickou androgenně modulačně naivní nebo senzitivní rakovinu prostaty v kombinaci s inhibitorem androgenní dráhy a další expanzi testuje v klinických studiích.
Key Takeaways Pfizer awaits an FDA decision on expanding Talzenna/Xtandi into an earlier prostate-cancer setting.Novartis' Pluvicto gained a broader prostate-cancer use, while new studies could expand its reach further.Candel is preparing an FDA filing, while Janux advances multiple early-stage prostate-cancer programs. September marks Prostate Cancer Awareness Month, putting renewed attention on one of the most common cancer manifestations affecting men. The American Cancer Society estimates that 333,830 men in the United States will be diagnosed with prostate cancer in 2026, while 36,320 are expected to die from the disease. Prostate cancer is also the most commonly diagnosed cancer among U.S. men, underscoring the importance of awareness, risk assessment and timely detection.
The focus is particularly relevant as the disease burden evolves. The American Cancer Society says prostate-cancer incidence increased by roughly 3% annually from 2014 through 2022, with advanced-stage diagnoses showing the steepest rise. At the same time, earlier diagnosis can improve outcomes, highlighting the continuing need for better screening, treatment options and approaches that can delay disease progression.
Against this backdrop, Pfizer (PFE - Free Report) , Novartis (NVS - Free Report) , Candel Therapeutics (CADL - Free Report) and Janux Therapeutics (JANX - Free Report) are four stocks worth watching. PFE and NVS offer relatively safer exposure as large-cap pharmaceutical companies with established commercial franchises. On the other hand, JANX and CADL are more speculative bets because their prostate-cancer opportunities remain in clinical development. All four have meaningful prostate-cancer exposure and identifiable clinical or regulatory catalysts, making them interesting names as investors assess the industry's efforts to advance prostate-cancer treatment. Pfizer, Novartis and Janux carry a Zacks Rank #3 (Hold) each, while Candel has a Zacks Rank #4 (Sell) at present.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PfizerPfizer's prostate-cancer portfolio is anchored by Xtandi (enzalutamide), which it co-commercializes with partner Astellas Pharma. Xtandi is approved for castration-resistant prostate cancer, metastatic castration-sensitive prostate cancer and non-metastatic castration-sensitive prostate cancer with high-risk biochemical recurrence. Pfizer reported $978 million in first-half 2026 Xtandi alliance revenues. The company also markets Talzenna (talazoparib), which is approved in combination with Xtandi for adults with homologous recombination repair (HRR) gene-mutated metastatic castration-resistant prostate cancer; Talzenna generated $107 million in first-half 2026 sales, up 24% year over year. Talzenna monotherapy is also approved for a breast cancer indication.
A key near-term pipeline catalyst is the potential expansion of the Talzenna/Xtandi combo into HRR gene-mutated metastatic castration-sensitive prostate cancer. Pfizer's supplemental application is being reviewed under the FDA’s Priority Review pathway, with the agency expected to communicate a decision in the fourth quarter of 2026. The filing was supported by positive phase III TALAPRO-3 results, which met the study’s primary endpoint. The therapy improved radiographic progression-free survival by more than 50% and reduced the risk of radiographic disease progression or death by 52% versus Xtandi plus placebo.
Pfizer also has investigational EZH2 inhibitor mevrometostat in its prostate-cancer pipeline. The candidate is being evaluated in combination with Xtandi in multiple phase III studies across metastatic castration-resistant and metastatic castration-sensitive prostate cancer, including patients who are treatment-naïve to newer hormonal therapies and those whose disease has progressed following abiraterone.
NovartisNovartis' flagship prostate-cancer drug Pluvicto (lutetium Lu 177 vipivotide tetraxetan) was initially approved for PSMA-positive metastatic castration-resistant prostate cancer in appropriate patients who had received prior androgen-receptor pathway inhibitor therapy and taxane-based chemotherapy. In July 2026, the FDA expanded its use to PSMA-positive metastatic androgen pathway modulation-naive or -sensitive prostate cancer in combination with an androgen receptor pathway inhibitor, significantly broadening the addressable population. Pluvicto generated $1.3 billion in first-half 2026 sales, up 57% year over year.
Novartis is looking to further expand Pluvicto’s prostate-cancer label, with the drug in phase III development for oligometastatic prostate cancer, potentially extending its use to an earlier stage of the disease. Beyond Pluvicto, NVS is advancing next-generation radioligand candidate AAA817 (225Ac-PSMA-617) in a phase II/III study as a monotherapy for PSMA-positive metastatic castration-resistant prostate cancer, including patients whose disease has progressed after prior lutetium-based PSMA-targeted therapy. A separate phase III study is evaluating AAA817 in combination with an androgen receptor pathway inhibitor for PSMA-positive metastatic castration-resistant prostate cancer.
Candel TherapeuticsCandel’s lead candidate, aglatimagene besadenovec (aglatimagene), has completed pivotal late-stage development for intermediate- to high-risk localized prostate cancer, with the goal of enhancing the effects of standard-of-care radiotherapy. The pivotal phase III study met its primary endpoint, delivering a statistically significant improvement in disease-free survival compared with radiotherapy alone. At a median follow-up of 58 months, the aglatimagene arm showed a 39% improvement in prostate cancer-specific disease-free survival, underscoring the durability of the treatment benefit.
The encouraging clinical data have moved aglatimagene toward a key regulatory catalyst, with Candel planning to submit a regulatory filing to the FDA for localized prostate cancer in the fourth quarter of 2026. The candidate has received both FDA Fast Track and Regenerative Medicine Advanced Therapy designations for the above indication, which could support its regulatory review. Candel is also strengthening its commercial and regulatory infrastructure ahead of the planned filing.
Janux TherapeuticsJanux also does not yet have an approved prostate-cancer drug. Its lead candidate, JANX007, is a PSMA×CD3 tumor-activated T-cell engager being evaluated in a phase Ib study in metastatic castration-resistant prostate cancer, with enrollment continuing in both monotherapy and Nubeqa (darolutamide) combination cohorts. The company is evaluating the candidate's safety, dosing and preliminary antitumor activity as the program advances.
Beyond JANX007, Janux is advancing JANX014, another PSMA×CD3 tumor-activated T-cell engager, in a phase I study for metastatic castration-resistant prostate cancer. The company has also initiated a phase I study of JANX013, a PSMA×CD28 TRACIr, in combination with JANX007, with the first patient now dosed for metastatic castration-resistant prostate cancer. Janux ended the second quarter of 2026 with $970.9 million in cash, cash equivalents and short-term investments, providing substantial financial capacity to advance its early-stage prostate-cancer pipeline.
Bank of America Corp DE ve 2. čtvrtletí koupila nový podíl ve společnosti Pfizer za zhruba 1,05 miliardy USD. Drží 43 588 109 akcií, tedy asi 0,76 % společnosti.
Bank of America Corp DE purchased a new stake in Pfizer Inc. (NYSE:PFE – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,588,109 shares of the biopharmaceutical company’s stock, valued at approximately $1,049,602,000. Bank of America Corp DE owned about 0.76% of Pfizer as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. boosted its position in Pfizer by 132.2% in the 1st quarter. Evolution Wealth Management Inc. now owns 994 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 566 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new position in shares of Pfizer during the 4th quarter valued at approximately $26,000. Keb Asset Management LLC purchased a new position in shares of Pfizer during the 2nd quarter valued at approximately $26,000. Global Trust Asset Management LLC lifted its stake in shares of Pfizer by 126.7% in the 1st quarter. Global Trust Asset Management LLC now owns 1,163 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 650 shares during the period. Finally, Abound Financial LLC purchased a new stake in Pfizer during the fourth quarter worth $31,000. 68.36% of the stock is owned by institutional investors and hedge funds.
More Pfizer News Here are the key news stories impacting Pfizer this week:
Positive Sentiment: Analysts at Wall Street Zen upgraded Pfizer, providing a favorable near-term sentiment signal, although the available report does not specify the new rating or price target. Pfizer Upgraded at Wall Street Zen Positive Sentiment: Pfizer’s new products, acquisitions and late-stage pipeline could help offset COVID-product declines and support renewed growth from 2029, offering a longer-term bull case for the stock. Can Pfizer Overcome Its COVID and Patent Cliff Headwinds? Positive Sentiment: Management’s presentation at Morgan Stanley’s 24th Annual Global Healthcare Conference gives investors an updated opportunity to assess Pfizer’s strategy, pipeline and response to its patent and revenue challenges. Pfizer Morgan Stanley Healthcare Conference Transcript Neutral Sentiment: Pfizer is highlighted as a high-yield dividend stock, with a roughly 6% yield that may appeal to income-focused investors and tax-advantaged accounts. High-Yield Dividend Stocks Worth Having in Your Roth IRA Negative Sentiment: COVID-product revenue is falling, while major drugs face a patent cliff. The resulting earnings pressure could persist before pipeline launches and acquisitions materially contribute to growth. Pfizer COVID and Patent Cliff Headwinds Negative Sentiment: Commentary warns that Pfizer’s dividend may be vulnerable if cash flow weakens, as patent losses and balance-sheet constraints leave limited room for execution mistakes. Pfizer’s 6% Yield Masks a Fragile Dividend Story Negative Sentiment: A dispute with Poland and Romania over approximately $2 billion of unwanted COVID-19 vaccines adds legal and financial uncertainty. Pfizer Dispute Over Unwanted COVID-19 Vaccines Analysts Set New Price Targets Several analysts recently commented on the stock. UBS Group restated a “neutral” rating and set a $27.00 price target on shares of Pfizer in a research report on Wednesday, May 27th. Weiss Ratings raised shares of Pfizer from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 31st. Royal Bank Of Canada upgraded Pfizer from an “underperform” rating to a “sector perform” rating and set a $25.00 target price on the stock in a research report on Tuesday, June 9th. BMO Capital Markets cut their price target on Pfizer from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $27.00 price target on shares of Pfizer in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.39. Read Our Latest Stock Report on PFE
Pfizer Stock Performance Shares of NYSE:PFE opened at $27.74 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.27 and a quick ratio of 0.96. Pfizer Inc. has a 1 year low of $23.58 and a 1 year high of $29.21. The firm has a market capitalization of $158.11 billion, a PE ratio of 36.50, a P/E/G ratio of 1.86 and a beta of 0.34. The business’s 50 day moving average price is $26.43 and its 200-day moving average price is $26.37.
Pfizer (NYSE:PFE – Get Free Report) last announced its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.09. Pfizer had a net margin of 6.80% and a return on equity of 19.63%. The company had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.40 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. As a group, equities research analysts expect that Pfizer Inc. will post 2.98 earnings per share for the current fiscal year.
Pfizer Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, July 24th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend was Friday, July 24th. Pfizer’s dividend payout ratio (DPR) is currently 226.32%.
Pfizer Profile (Free Report)
Pfizer Inc is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its portfolio addresses a range of therapeutic areas, including oncology, inflammation and immunology, internal medicine, hospital care, rare diseases and infectious diseases. The company serves patients and healthcare providers in markets worldwide.
Pfizer’s products include the Comirnaty COVID-19 vaccine, the Prevnar family of pneumococcal vaccines, and medicines such as Eliquis, Ibrance, Vyndaqel and Zavzaret.
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Pfizer čeká v roce 2026 pokles tržeb na 60,5–62,5 miliardy USD kvůli slabším prodejům vakcín proti COVID-19 a patentovému propadu. Ztráta exkluzivity má snížit tržby asi o 1,1 miliardy USD.
Key Takeaways Pfizer expects its LOE cliff to reduce revenues by approximately $1.1 billion in 2026.Pfizer's 2026 revenue guidance of $60.5-$62.5 billion signals mostly flat to slightly negative growth.New products, acquisitions and pipeline investments are expected to drive a return to growth from 2029. Pfizer (PFE - Free Report) faces a number of structural headwinds, ranging from patent expirations and declining COVID-19 revenues to pricing pressure, intense competition and the need to replenish its pipeline.
PFE’s LOE HeadwindsOne of Pfizer’s biggest challenges is the approaching loss of exclusivity (LOE) for several important products. Pfizer expects a significant negative impact on revenues from the LOE cliff in the 2026-2030 period as several of its key products, including Eliquis, Ibrance, Xeljanz and Xtandi, face patent expirations. The LOE cliff is expected to hurt sales by approximately $1.1 billion in 2026.
PFE’s COVID Business Faces Continued Revenue DeclinesDuring the pandemic, Pfizer generated extraordinary COVID-related sales from Comirnaty and Paxlovid. Sales of Comirnaty and Paxlovid have fallen substantially from pandemic levels, turning these products from major growth drivers into sources of revenue volatility.
Although the company has been able to stabilize the business, COVID-related sales remain considerably below their pandemic peaks. This means Pfizer must increasingly rely on its non-COVID portfolio to drive growth.
Pfizer’s 2026 Guidance Points to Sluggish GrowthPfizer’s revenue guidance for 2026 indicates mostly flat to slightly negative year-over-year growth.
The company expects total revenues for 2026 to be between $60.5 billion and $62.5 billion. The range represents a slight decline from 2025 revenues of $62.6 billion due to lower revenues from Comirnaty and Paxlovid and loss of revenues from the patent cliff.
In 2026, Pfizer expects adjusted earnings per share 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 3SBio and Metsera deals, lower COVID revenues and higher taxes.
Pfizer Banks on New Products & Buyouts to Return to GrowthPfizer is taking a multi-pronged approach to offset the decline in COVID-19 revenues and the impact of upcoming patent expirations. The company is focusing on strengthening its non-COVID portfolio, accelerating new product launches and investing in its pipeline to build replacement growth ahead of the patent cliff.
The company is also using acquisitions and licensing deals to supplement internal innovation, including investments in obesity programs from Metsera and oncology assets such as the PD-1 x VEGF bispecific licensed from 3SBio.
Pfizer’s recently launched and acquired products recorded continued double-digit growth in both the first and second quarters of 2026. Its non-COVID revenues also rose in a mid-single-digit range, on an operational basis, in both quarters of 2026.
Although Pfizer’s 2026 sales guidance indicates minimal growth, the company expects a high single-digit revenue CAGR for five years, starting from year-end 2028. Pfizer expects its recently launched and acquired products, along with a strong pipeline, to help it return to growth from 2029 onward.
Competition in the Oncology SpacePfizer is one of the largest drugmakers of cancer medicines. Other large players in the oncology space are J&J (JNJ - Free Report) , AstraZeneca (AZN - Free Report) , Merck (MRK - Free Report) and Bristol-Myers.
Oncology accounts for nearly 29% of J&J’s total revenues. In the first half of 2026, oncology revenues increased 16.9% to $14.4 billion on an operational basis, fueled by continued momentum for Darzalex and Erleada, although weaker demand for Imbruvica partially offset these gains. 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 46% of total revenues. Sales in its oncology segment rose 15% at constant exchange rate to $14.1 billion in the first half 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 the PD-L1 inhibitor Keytruda and the PARP inhibitor Lynparza, which it markets in partnership with AstraZeneca. Keytruda, approved for several types of cancer, alone accounts for more than 55% of the company’s pharmaceutical sales. Keytruda recorded sales of $15.8 billion in the first half of 2026, up 4% year over year.
PFE’s Price Performance, Valuation and Estimates
Pfizer stock has risen 11.3% so far this year compared with an increase of 9.8% for the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, Pfizer appears attractive relative to the industry. Going by the price/earnings ratio, Pfizer’s shares currently trade at 9.40 forward earnings, significantly lower than 17.86 for the industry. However, the stock is trading slightly above its five-year mean of 9.25.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings per share has risen from $2.96 to $2.98, while that for 2027 has risen from $2.86 to $2.94 over the past 60 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.
Pfizer uvedla, že ustupují hlavní protivětry včetně nejistoty kolem politiky, slabší poptávky po COVID a ztrát exkluzivity. Zájem investorů se podle Alberta Bourly přesouvá k pipeline a k očekávaným klinickým katalyzátorům v roce 2027.
The Phase 3 Failure That Sent Biotech Winners and Losers in Opposite DirectionsPfizer NYSE: PFE Chairman and Chief Executive Officer Albert Bourla said the drugmaker has addressed several major headwinds that weighed on investor attention, including policy uncertainty, declining COVID-19-related demand and upcoming losses of exclusivity for certain products.
Speaking at a Morgan Stanley conference, Bourla said Pfizer had reached agreements related to tariffs and most-favored-nation pricing policies, while the company’s financial results have remained resilient despite what he described as the smallest COVID season Pfizer could have anticipated. He said Pfizer outperformed revenue expectations in nine of its last 10 earnings reports and exceeded earnings-per-share expectations in all 10, spanning 2024, 2025 and the first two earnings reports of 2026.
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Patent Cliff Predators: GSK Acquires Nuvalent For $10.6 BillionBourla also pointed to cost reductions and new-product growth as important components of Pfizer’s strategy for navigating losses of exclusivity. The company has removed $7.2 billion from its cost base over three years, he said, and recently announced another cost initiative intended to help offset future patent expirations.
New products and products obtained through business development are running at an annualized rate of about $13 billion and growing in the “20s percent,” according to Bourla. He said investor discussions have increasingly shifted away from COVID-19, pricing policy and losses of exclusivity toward Pfizer’s pipeline and expected clinical catalysts in 2027.
Policy outlook and 340B program 2 Ways to Play the Big Pharma Patent CliffBourla said he does not expect substantial U.S. policy changes ahead of the midterm elections and anticipates that only measures with bipartisan support may advance afterward, particularly if the government is divided.
He identified pharmacy benefit manager reform as an area with bipartisan backing, saying several regulatory and legislative steps have already been taken. He also described the 340B drug-pricing program as a major issue for the industry, though he was less optimistic about a broader resolution because of the political sensitivities involving hospitals.
Pfizer saw both favorable and unfavorable effects from 340B-related developments, Bourla said, with the net impact only marginally positive. He cautioned against assuming the industry will receive a substantial ongoing benefit.
The Department of Health and Human Services is scheduled to begin a 340B pilot in January 2027 that includes Pfizer’s ELIQUIS and IBRANCE products. Bourla said the program could provide insight into both the near-term business impact and longer-term consequences of the policy.
Business development shifts toward selective deals Pfizer expects to be more selective with future business development as it focuses on extracting value from recent investments, Bourla said. The company has spent close to $80 billion on business development during the past three years, with roughly 80% concentrated in three major transactions.
Seagen, which Bourla said is performing ahead of Pfizer’s expectations and provides a broader oncology platform rather than a single product. Biohaven, including NURTEC ODT, which he said has contributed significantly to growth. Metsera, which expanded Pfizer’s obesity-drug portfolio. Going forward, Bourla said Pfizer expects to pursue opportunities more strategically, with particular interest in earlier-stage assets in China, including peri-IND, Phase I and Phase II programs.
He described China as a growing source of innovation, citing faster development timelines and lower costs. However, Bourla said Pfizer conducts especially extensive due diligence on Chinese opportunities, including on-the-ground reviews of patient records and clinical-study sites. He also cited policy risks from both the U.S. and China that could affect cross-border licensing arrangements.
Bourla said he would be surprised if global Chinese pharmaceutical companies do not emerge by the end of the decade. He said Pfizer is preparing for a more competitive environment through productivity improvements, including broader deployment of artificial intelligence.
AI, oncology and obesity pipeline plans Beyond research and development, Bourla said Pfizer sees opportunities for AI in marketing, field-force support and manufacturing. He said physicians increasingly obtain information through large language models, creating a need for companies to ensure scientific data are included in those systems. Pfizer also sees AI as a means to broaden sales representatives’ product knowledge and improve manufacturing costs, reliability and speed.
In oncology, Bourla said Pfizer is “reasonably optimistic” about upcoming Phase III results for mevrometostat in metastatic prostate cancer. The company has two late-stage trials underway and expects results before the end of the year, although he emphasized that the studies are event-driven.
The readout has been delayed because fewer events have occurred than anticipated, Bourla said. He noted that the randomized earlier-stage data showed a 50% improvement, while a 30% improvement in the Phase III setting would still be meaningful and statistically significant. Pfizer owns global rights to mevrometostat, unlike XTANDI, where it shared economics in certain markets.
In obesity, Bourla said the Metsera acquisition provides Pfizer with a portfolio that includes weekly and monthly GLP-1 candidates. Pfizer is conducting 20 obesity studies this year, including 10 Phase III studies, covering weekly programs in diabetes and non-diabetes as well as a monthly program.
The company is also studying whether patients using other GLP-1 medicines can transition to monthly maintenance therapy after reaching a weight-loss plateau. Pfizer has begun a Phase II study of a monthly amylin-plus-GLP-1 combination, expected to report results next year, while Phase I data are anticipated toward the end of the current year.
Bourla said Pfizer has modified Phase III titration protocols to improve gastrointestinal tolerability for monthly treatments, including more gradual dose escalation and the ability for patients to step down to a lower dose if tolerability issues arise. He said Pfizer is also advancing a licensed oral GLP-1 candidate that uses a smaller dose than some competing oral approaches and may be more suitable for combination pills.
About Pfizer (NYSE:PFE)Pfizer Inc is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its portfolio addresses a range of therapeutic areas, including oncology, inflammation and immunology, internal medicine, hospital care, rare diseases and infectious diseases. The company serves patients and healthcare providers in markets worldwide.
Pfizer's products include the Comirnaty COVID-19 vaccine, the Prevnar family of pneumococcal vaccines, and medicines such as Eliquis, Ibrance, Vyndaqel and Zavzaret.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Pfizer má sice ziskové krytí dividend slabé, ale z peněžního toku ji stále pokrývá zhruba z 90 % a drží téměř 12,7 miliardy USD v hotovosti a krátkodobých investicích. Firma zároveň říká, že dividendu chce v blízké době udržet.
Pfizer (PFE +0.25%) is not hitting on all cylinders today. That's why the stock is down more than 50% from its 2021 high, as of this writing, and its payout ratio is well north of 100%. Dividend investors may find the huge 6% yield attractive, but before buying, you have to ask if that dividend is actually sustainable. The answer is likely yes, here's why.
Dividends don't come out of earnings The financial impact of dividends shows up on the cash flow statement, not the earnings statement. This is important to understand as you look at the payout ratio, which compares dividends to earnings. It is definitely a good thing if earnings cover the dividend, which Pfizer's earnings do not right now, but it isn't necessary for this to be the case for a company to continue supporting its dividends.
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When you compare Pfizer's cash flow to its dividend, using the cash dividend payout ratio, the figure comes in at roughly 90%. That's high, but it suggests the pharmaceutical giant can continue covering the payment for now. Backing that up is nearly $12.7 billion in cash and short-term investments on its balance sheet at the end of the second quarter of 2026. The company paid roughly $4.9 billion in dividends through the first half of the year. It could cover more than a year of dividend payments with that cash alone.
Also, the company is openly stating that it wants to maintain the dividend in the near term. Management probably wouldn't be so vocal about that if the board of directors were seriously considering a dividend cut.
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The real issue is Pfizer's business The problem right now for Pfizer is that it is dealing with patent expirations, but it hasn't found new drugs to replace the revenues being lost from the old ones. That's actually pretty normal in the drug sector, since research and development doesn't operate on a fixed schedule, even though patent expirations do. Mismatches like the one that is happening today are really pretty common in this highly competitive segment of the healthcare sector, with a number of the company's peers basically in the same boat.
However, given Pfizer's long history of success, it seems highly likely that it will muddle through this rough patch and develop (or buy) new blockbuster drugs to sell. The worst-case scenario is likely a dividend cut, but even a 50% reduction would still leave the company with a well-above-market yield. If you can stomach some uncertainty, the risk versus reward balance here is likely tilted toward reward.
Medicus Pharma uvedla, že SkinJect má potvrzené dávkování 200 mikrogramů pro další registrační zkoušky a program pro Gorlinův syndrom míří ke klíčové studii schválené FDA. Současně rozvíjí i licenční spolupráci s Pfizer na ADC zaměřeném na CD228.
Medicus Pharma (NASDAQ:MDCX) earlier this week outlined progress across its SkinJect program and a co-development and licensing opportunity with Pfizer, with CEO Raza Bokhari highlighting clinical, partnership and funding developments as the company sharpens its focus on precision oncology and capital-efficient drug development.
Bokhari said final SkinJect results published on ClinicalTrials.gov had confirmed the 200-microgram patch as the dose to be taken forward into further registrational studies.
He said Medicus Pharma (NASDAQ:MDCX) would continue focusing on Gorlin syndrome, including steps to recruit patients for the SkinJect 005 study and work towards the pivotal study that he said had already received FDA approval. Meanwhile, the nodular basal cell carcinoma opportunity has been positioned for an out-licence.
“We are very excited that we have clarity on our way forward,” Bokhari said, adding that the prospect of SkinJect becoming a therapy for Gorlin syndrome patients with multiple basal cell lesions was getting “closer and closer”.
A potential partnership represents another catalyst. Bokhari described the program as “clearly partner-ready” and said Medicus Pharma hoped a partner could take the baton while the company continued development work.
He also pointed to the potential commercial characteristics of the rare disease opportunity. An independent report commissioned by Medicus Pharma indicated potential reimbursement of around $25,000 or more, according to Bokhari.
Alongside SkinJect, the company is advancing a co-development and licensing opportunity with Pfizer involving a CD228-targeted antibody-drug conjugate to explore its efficacy in refractory melanoma and other solid tumours.
Bokhari said the Pfizer relationship came with $2 million in development funding as well as inventory and infrastructure support. He said Medicus Pharma was therefore adequately funded, and potentially fully funded, to pick up where Pfizer left off with a Phase 1 dose-escalation study.
He described the addition of the program as a “paradigm shift” in the company’s portfolio, providing an opportunity for Medicus Pharma to refine its position as a precision oncology-led biotech life sciences company.
For investors, potential catalysts highlighted in the interview include progress towards recruitment for SkinJect 005, advancement of the pivotal Gorlin syndrome program, a potential SkinJect partnership and further development of the CD228-targeted antibody-drug conjugate program.
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Novavax posouvá byznys směrem k partnerstvím kolem platformy Matrix-M, přičemž klíčovými katalyzátory jsou Sanofi a Pfizer. Sanofi už zahajuje zásilky NUVAXOVID do lékáren a Pfizer má v dohodě až 500 milionů USD na potenciálních milníkových platbách.
Analysts Think These Stocks Could More Than Double in ValueNovavax NASDAQ: NVAX executives outlined the company’s transition from a COVID-19 vaccine-focused business toward a partnership-driven model centered on its Matrix-M adjuvant technology, with near-term attention on Sanofi’s commercial rollout of NUVAXOVID, combination vaccine development and early oncology research.
Speaking at Citi’s 2026 Biopharma Back to School Conference, Chief Executive Officer John Jacobs said the company has transformed over the past three and a half years by pursuing technology out-licensing, external partnerships and selective internal research investments. Novavax has agreements with Sanofi and Pfizer and is also working through collaborations generated through material transfer agreements, he said.
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Sanofi rollout and combination vaccine milestones Is Biotech’s Bull Run Over? Examining Election ImpactsJacobs identified Sanofi as Novavax’s largest and first partner, highlighting the start of NUVAXOVID shipments to pharmacies as a near-term catalyst. He said major retailers were expected to have the protein-based COVID-19 vaccine in stock alongside mRNA vaccines by the end of the week, while Sanofi was expected to begin direct-to-consumer marketing efforts.
Novavax expects Sanofi to build market share methodically rather than achieve a major share gain immediately, Jacobs said. He noted that the current season marks Sanofi’s first full commercial launch cycle following licensure and retail contracting. The company expects the most active vaccination period to occur over the following six to eight weeks.
Moderna Dips on Q2 Earnings But Can It Rip on a Short Squeeze?Sanofi has also confirmed its intention to be among the first companies to develop a COVID-flu combination vaccine, according to Jacobs. He said Sanofi was in late-stage regulatory discussions regarding the timing of a pivotal trial. The start of a clinical trial in either Europe or the U.S. would trigger a $125 million milestone payment to Novavax.
Novavax also anticipates a $75 million milestone next year tied to technology transfer enabling Sanofi to take over full manufacturing of NUVAXOVID. Jacobs said the expected $200 million in payments, excluding royalties and possible revenue from future partnerships, would extend the company’s cash runway into the 2030s.
Bob Walker, Novavax’s head of research and development, said combination-vaccine studies for a European license could be based on immunogenicity rather than efficacy and may be conducted over a single season, followed by regulatory review. He added that non-inferiority immunogenicity could represent another potential licensure pathway in Europe, while the U.S. regulatory path remains evolving.
Pfizer agreement supports platform strategy Jacobs said Pfizer has selected the first of two potential fields under its Matrix-M partnership with Novavax. The agreement includes up to $500 million in potential milestones, including $250 million per field, as well as a $30 million upfront payment already received. Of the potential milestone payments, $70 million is tied to clinical development and $180 million is tied to sales-related milestones, Jacobs said.
Novavax expects a future catalyst when Pfizer begins a clinical study in the selected field, which would result in a milestone payment. The agreement also includes royalties for two decades following commercialization in each field.
Chief Financial Officer Jim Kelly said Pfizer and Sanofi, two of the four major vaccine companies, have identified Matrix-M as a contributor to vaccine innovation. Sanofi has access to Matrix-M across an uncapped number of fields, while Pfizer has rights covering two potential fields.
Oncology research and C. difficile plans Novavax is also evaluating Matrix-M in oncology, where the company expects to receive initial preclinical data in coming quarters from internal work and a collaboration with an unnamed top-10 pharmaceutical company that is a global oncology leader.
Walker said Matrix-M has shown activity on the cell-mediated side of the immune system, including T-cell activation. In oncology, he said, CD8 T cells are particularly important because they can kill tumor cells. The company is evaluating standard preclinical measures including tumor size, tumor shrinkage, immune-cell infiltration and surface markers, as well as potential combinations with other therapies.
Jacobs said the company began exploring oncology before recent news from Moderna and Merck, citing the potential for a relatively faster proof of concept than in some other therapeutic categories. He cautioned that Novavax is still determining in which tumor types Matrix-M may be most applicable.
Separately, Novavax plans to advance a pentavalent vaccine candidate targeting Clostridioides difficile, or C. diff, and could enter the clinic as early as 2027. Jacobs described C. diff as an unmet medical need and a potential multibillion-dollar market opportunity. He said Novavax intends to seek a partner to fund later-stage development if possible, though the company has contemplated advancing the program further if needed without exceeding its stated R&D and selling, general and administrative expense targets.
Kelly estimated the global COVID vaccine market at roughly $5 billion this year and the flu market at approximately $5 billion to $6 billion. He said the markets could increasingly converge through combination vaccines, particularly for older and immunocompromised patients.
About Novavax (NASDAQ:NVAX)Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.
The company's lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.
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Pfizer v srpnu vzrostl téměř o 14 % po lepších čtvrtletních výsledcích a zvýšení spodní hranice celoročního výhledu tržeb na 60,5 až 62,5 miliardy USD. Získal také regulační pokroky u léčby Lymeovy nemoci a vakcíny Comirnaty.
In the world of big pharmaceutical companies, Pfizer (PFE -2.32%) stock has been a notable laggard over the past few years. It was something of a surprise, then, when it outperformed many of its peers by racing nearly 14% higher over the course of last month. A better-than-expected quarterly earnings report had something to do with that, as did several regulatory advancements.
2 beats and 1 raise The first significant stock-moving event for Pfizer that month was the release of its second-quarter earnings report on Aug. 4. Revenue for the pharmaceutical giant rose by 3% to $15 billion, while net income not under generally accepted accounting principles (non-GAAP, or adjusted) was up marginally to $4.4 billion, or $0.77 per share.
Image source: Getty Images.
Those growth rates might not be explosive, but they were higher than what analysts tracking the stock were expecting. The consensus pundit estimate for revenue was $14.4 billion, while that for adjusted earnings per share (EPS) was only $0.68 per share.
Compounding that pair of beats, Pfizer raised the low end of its full-year revenue guidance range, as it increased its sales estimate for non-COVID products but decreased its forecast for those goods. The new revenue projection is $60.5 billion to $62.5 billion, up from the previous $59.5 billion to $62.5 billion. However, the company didn't change its $2.80 to $3 adjusted EPS guidance.
Pfizer's No. 1 drug, the anticoagulant Eliquis, was again the motor of its growth; its sales grew by a sturdy 19% year over year in the quarter. The big caveat in that otherwise impressive performance is that Eliquis will soon fall off the dreaded patent cliff and face competition from generic versions made by rivals.
This is why Pfizer has been loading up on acquisitions over the past few years and aggressively advancing its development programs. The latter is usually not a quick process; however, it can reward investors with a relatively long-term horizon.
In August, the company scored a regulatory victory when the European Medicines Agency (EMA), the 27-member European Union's regulator, validated the application for PF-07307405. This is a next-generation treatment for Lyme disease being developed by Pfizer and its partner Valneva.
And on our shores, toward the end of the month, the U.S. Food and Drug Administration (FDA) approved a supplemental biologics license application (BLA) for the latest version of its durable COVID vaccine Comirnaty developed with its biotech peer BioNTech.
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Blockbuster or bust I feel the market is underestimating Pfizer as, for many, the company's status as a pandemic-era star (with Comirnaty) is still fresh in their minds. Since then, it hasn't produced a new blockbuster product, and investors are getting impatient.
Those willing to wait should be rewarded, I believe. Pfizer's acquisitions haven't come cheap, by and large, but they've given the company a set of highly promising assets. The pipeline is now extremely wide and varied, and very likely to produce a top-selling medicine, perhaps even in the near future. This remains an undervalued stock to me, and one ripe for a buy.
Pfizer čeká slabší období do roku 2030, než se naplno rozjede růst z nových onkologických léků. Firma zároveň plánuje do roku 2029 úspory 9,7 miliardy USD.
As the old saying goes, "If something sounds too good to be true, it probably is."
That clichéd wisdom presents something of a problem for any investor eyeing a new stake in pharmaceutical outfit Pfizer (PFE -0.72%) while its stock is priced at less than 10 times this year's expected per-share profit of $2.98, with a forward-looking dividend yield that's unusually high at just over 6%.
What's the market seeing? Maybe it's what the market's not seeing. To this end, if you're thinking about diving in, here are the top three things you need to know about Pfizer today.
1. The real revenue turning point is 2030 All stock prices reflect that company's plausible future more so than its past, or even its present. The challenge for investors interested in Pfizer at this time is how far into the future they need to look.
While its acquisitions and in-house research and development work on this front are certainly promising, the company's goal of having eight new blockbuster oncology drugs on the market -- and doubling its total number of cancer patients it's currently serving as a result -- won't even begin to start happening until after 2028, and not in earnest until 2030.
image source: Getty Images.
Meanwhile, its top-selling drugs like cancer-fighting Ibrance, pneumonia vaccine Prevnar, and blood-thinner Eliquis (which accounts for about 15% of Pfizer's total revenue) will lose their patent protection. In other words, it could be a tough few years between now and 2030,
2. Its cost-cutting goals aggressive At the same time, the drugmaker is setting up new profit centers to offset the eventual wind-down of others, and it's also cutting costs. Specifically, between this year and 2029, Pfizer expects to find $9.7 billion worth of operational savings. Most will come from cost realignments, but some will be the result of manufacturing optimization.
For perspective on that number, the company's on pace to do on the order of $62 billion worth of business this year. That's also more than all of last year's net income.
3. The high yield and low valuation make it worth the risk Finally, although the stock's dirt cheap valuation and oddly high dividend yield suggest most investors doubt Pfizer will be able to achieve its goals anytime soon (and with a consensus 12-month price target of only $28.28 per share, most analysts seem to agree), this is a scenario where investors should think longer term, recognizing that Pfizer's forced overhaul isn't anything new or unusual for it or any other names in the pharmaceutical industry. It should be a far more promising company five years from now.
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Also, remember that most stocks tend to move in anticipation of turnarounds, because they actually take hold. In this vein, Pfizer's got a great deal of drug-development progress news already lined up for the next five years, which will give investors plenty of bullish milestones to latch onto. Just make sure you're ready for a bumpy ride during this stretch.
Pfizer soustředí svůj vývojový pipeline na obezitu a onkologii, aby obnovil růst po propadu tržeb z produktů proti COVID-19 a blížících se expiracích patentů. Berobenatide je ve fázi III a firma cílí na první možné schválení v roce 2028. K 4. srpnu 2026 měl Pfizer 95 programů v pipeline.
Key Takeaways Pfizer's 95-program pipeline is increasingly focusing on obesity and oncology to rebuild growth.Berobenatide is in phase III, with Pfizer targeting its first potential approvals in 2028.Oncology remains a key pipeline engine, with late-stage candidates spanning several cancer types. Pfizer’s (PFE - Free Report) R&D pipeline is becoming an increasingly important part of the investment story as the company is trying to revive growth after the sharp decline in COVID-19 product revenues and address several upcoming patent expirations. As of Aug. 4, 2026, Pfizer had 95 pipeline programs. The pipeline spans oncology, internal medicine, inflammation & immunology and vaccines. Though Pfizer's pipeline is broad, the most important assets are concentrated in obesity and oncology.
Let's break it down.
Berobenatide: Pfizer's Biggest New Growth OpportunityThe most important emerging asset in Pfizer's pipeline is arguably berobenatide, its monthly GLP-1 receptor agonist, added from last year’s Metsera acquisition. The candidate is being developed in phase III for chronic weight management.
Pfizer's earlier oral GLP-1 program, danuglipron, failed to establish the company as a major oral obesity player. Berobenatide represents a different approach. Berobenatide is a long-acting injectable peptide GLP-1, whereas danuglipron was an oral small-molecule GLP-1.
The currently available and highly popular weight loss GLP therapies, Eli Lilly’s (LLY - Free Report) Zepbound and Novo Nordisk’s (NVO - Free Report) Wegovy, are weekly injections. On the other hand, Pfizer’s berobenatide starts off as a weekly injection and then switches to a monthly injection. Berobenatide is designed for monthly maintenance dosing.
Pfizer plans 10 phase III studies for berobenatide for obesity and obesity-related comorbidities, including knee osteoarthritis and obstructive sleep apnea. Three phase III studies on berobenatide have already begun. Pfizer is targeting the first of a series of potential approvals for berobenatide in 2028. Pfizer is also evaluating berobenatide in combination with an amylin-based therapy, PF'3945, in phase II studies.
Oncology Remains Pfizer's Strongest Pipeline EnginePfizer is also advancing its oncology clinical pipeline across areas such as breast, thoracic, gastrointestinal and blood cancers. Several oncology candidates have entered late-stage development, such as atirmociclib (a selective CDK4 inhibitor for HR-positive/HER2-negative breast cancer), sigvotatug vedotin (an antibody-drug conjugate for first-line metastatic non-small cell lung cancer) and mevrometostat (an EZH2 inhibitor being developed in combination with enzalutamide for prostate cancer). A regulatory application seeking approval of sasanlimab for BCG-naïve, high-risk non-muscle invasive bladder cancer is also under review in the EU.
One of Pfizer's more strategically interesting oncology programs is PF-08634404, a dual PD-1/VEGF inhibitor in-licensed from Chinese biotech 3SBio in 2025. Pfizer has initiated nine studies, including two pivotal phase III studies for PF-08634404 in first-line metastatic colorectal cancer and first-line NSCLC, and additional phase II studies in small-cell lung cancer and gastroesophageal cancers. Pfizer aims to establish PF-08634404 as a potential backbone therapy across multiple tumor types.
Dual PD-1/VEGF inhibitors have been designed to overcome the limitations of single-target cancer therapies like Merck’s (MRK - Free Report) blockbuster PD-L1 inhibitor, Keytruda.
Pfizer is also working on expanding the labels of approved cancer products like Padcev, Tuksya and Elrexfio, among others.
ConclusionThe 95-program pipeline provides plenty of shots on goal, but the key question for PFE investors is whether berobenatide plus the next generation of oncology drugs can generate enough new revenues to offset declining COVID sales, patent expirations and other portfolio pressures.
PFE’s Price Performance, Valuation and EstimatesPfizer stock has risen 16.6% so far this year compared with an increase of 14.6% for the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, Pfizer appears attractive relative to the industry. Going by the price/earnings ratio, Pfizer’s shares currently trade at 9.84 forward earnings, significantly lower than 18.79 for the industry. However, the stock is trading above its five-year mean of 9.25.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings per share has risen from $2.96 to $2.98, while that for 2027 has risen from $2.85 to $2.94 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.
A month has gone by since the last earnings report for Pfizer (PFE - Free Report) . Shares have added about 12.4% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Pfizer due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Pfizer Inc. before we dive into how investors and analysts have reacted as of late.
Q2 Earnings & Sales Beat EstimatesPfizer reported second-quarter 2026 adjusted earnings per share of 77 cents, which beat the Zacks Consensus Estimate of 68 cents per share. Earnings were flat year over year.
Revenues came in at $15.03 billion, up 3% from the year-ago quarter on a reported basis and 1% on an operational basis. Total revenues beat the Zacks Consensus Estimate of $14.45 billion. Growth in Eliquis, Padcev, the Vyndaqel family and Lorbrena offset steep declines in COVID-19 products.
International revenues rose 3% on an operational basis to $6.18 billion. U.S. revenues were flat at $8.86 billion.
Excluding BioNTech-partnered Comirnaty and Paxlovid, revenues increased 5% operationally. Pfizer’s newly launched and acquired products delivered $3.2 billion in revenues and grew 18% operationally in the quarter. Excluding one-time items recorded in the second quarter of 2025, primarily related to the legacy Seagen in-line portfolio, this operational growth would have been 27%.
Adjusted selling, informational and administrative (SI&A) expenses declined 3% (operationally) in the quarter to $3.34 billion due to lower spending in corporate enabling functions. Adjusted R&D expenses rose 12% to $2.73 billion due to higher spending on oncology and obesity pipeline.
Segment DiscussionPfizer reports its revenues under three broad sub-segments of its Biopharma operating segment — Primary Care, Specialty Care and Oncology. In first-quarter 2026, Pfizer created a new Hospital and Biosimilars Division within its Biopharma segment, moving certain off-patent brands, generic sterile injectables and biosimilars out of Specialty Care and Oncology.
Primary Care sales declined 2% on an operational basis to $5.5 billion. Oncology revenues rose 2% to $4.17 billion, while Specialty Care sales increased 7% to $3.35 billion. Hospital and Biosimilars revenues declined 2% to $1.64 billion.
Primary CareIn Primary Care, alliance revenues and direct sales from Eliquis increased 19% to $2.43 billion as higher demand trends globally were partially offset by price and generic erosion in some ex-U.S. markets. Eliquis sales beat the Zacks Consensus Estimate of $1.98 billion.
Global Prevnar family revenues declined 4% to $1.34 billion and missed the consensus estimate of $1.39 billion. U.S. sales fell 13%, more than offsetting a 10% increase in the international market. U.S. sales declined due to lower vaccination rates in the pediatric and adult indications. International sales rose due to continued increases in demand in both the adult and pediatric indications.
Direct sales and alliance revenues from partner BioNTech for Comirnaty were $261.0 million in the quarter, down 34% year over year, missing the consensus estimate of $278 million. The decrease reflected a smaller favorable adjustment to the returns provision and lower U.S. utilization following narrower vaccination recommendations.
Paxlovid revenues plunged 95% to $21 million due to lower COVID-19 infections and reduced government purchases in some international markets. Sales fell well short of the consensus estimate of $119 million.
Nurtec ODT/Vydura contributed $421.0 million in the quarter, up 17% year over year, driven by strong demand and prescription growth.
Among the new products, Pfizer’s RSV vaccine, Abrysvo, recorded sales of $208 million, up 43% on an operational basis, driven by launch uptake and favorable timing of deliveries in some international markets and favorable buying patterns in the United States.
OncologyIn Oncology, Ibrance revenues were flat at $1.06 billion, exceeding the Zacks Consensus Estimate of $1.05 billion.
Padcev sales climbed 23% to $667 million and surpassed the consensus estimate of $661 million. Padcev benefited from strong demand trends mainly due to market share gains in first-line metastatic urothelial cancer and launch momentum from the new muscle-invasive bladder cancer indication.
Xtandi alliance revenues declined 6% to $534 million. Lorbrena revenues rose 37% to $354 million, driven by market share gains in the first-line ALK-positive metastatic NSCLC treatment setting in the United States, China, and some other international countries. Adcetris sales fell 23% to $196 million. Inlyta revenues decreased 12% to $218 million. Braftovi/Mektovi revenues rose 23% to $223 million.
New drug, Elrexfio, generated sales of $89 million in the quarter, up 5% year over year.
Pfizer's Specialty Care and Hospital SalesVyndaqel family revenues increased 8% to $1.76 billion, slightly exceeding the Zacks Consensus Estimate of $1.75 billion. The Vyndaqel family includes global revenues from Vyndaqel as well as revenues from Vyndamax in the United States and Vynmac in Japan. Growth reflected continued patient diagnosis and improved access in international markets, along with U.S. market expansion, which partially offset the impact of price erosion as a result of new payer contracts in the United States.
Xeljanz sales declined 23% to $251 million, while Enbrel revenues fell 10% to $142 million. Cibinqo sales rose 34% to $94 million.
Within Hospital and Biosimilars, oncology biosimilar sales increased 1% to $359 million, and Inflectra revenues rose 23% to $171 million.
2026 GuidancePfizer raised the lower end of its 2026 revenue guidance, backed by continued strong performance of its new and acquired products. The company now expects revenues between $60.5 billion and $62.5 billion, compared with the previous range of $59.5 billion to $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.
The revised outlook reflects approximately $1.5 billion of better-than-expected non-COVID product performance, partly offset by a $1 billion reduction in expected COVID-19 product revenues. Pfizer now expects around $4 billion from COVID-19 products in 2026, lower than the prior expectation of around $5 billion.
Paxlovid demand is expected to be limited due to low COVID infection levels. Meanwhile, most sales of Comirnaty are expected later in the year, in line with the seasonal vaccination period.
The adjusted earnings guidance was reaffirmed at $2.80-$3.00 per share. However, the guidance now absorbs a 10 cents per share charge related to its licensing deal with Chinese biotech Innovent Biologics that will be recorded in the third quarter of 2026.
Adjusted gross margin is expected to be in the mid-70s 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.
Pfizer also said it expects additional cost savings of $2.5 billion, which it expects to realize from 2027 through 2029.
Pfizer remains on track to achieve approximately $5.7 billion in net savings from its ongoing cost realignment program by the end of 2026 and has expanded the initiative with an additional $1 billion in expected SG&A savings through 2029, bringing total savings from the program to about $6.7 billion through 2029. Separately, the company has expanded its multi-year manufacturing optimization program, which is now expected to generate approximately $3 billion in cumulative cost-of-goods savings by 2029. Overall, Pfizer expects approximately $9.7 billion in total net savings from its productivity enhancement initiative through 2029.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.
The consensus estimate has shifted -8.39% due to these changes.
VGM ScoresAt this time, Pfizer has a average Growth Score of C, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Pfizer has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerPfizer is part of the Zacks Large Cap Pharmaceuticals industry. Over the past month, AbbVie (ABBV - Free Report) , a stock from the same industry, has gained 6.3%. The company reported its results for the quarter ended June 2026 more than a month ago.
AbbVie reported revenues of $16.99 billion in the last reported quarter, representing a year-over-year change of +10.2%. EPS of $3.65 for the same period compares with $2.97 a year ago.
For the current quarter, AbbVie is expected to post earnings of $3.86 per share, indicating a change of +107.5% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.5% over the last 30 days.
AbbVie has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
Medicus Pharma získala od Pfizer exkluzivní globální licenci na vývoj, výrobu a komercializaci PF-08046031, přičemž Pfizer může získat milníkové platby přesahující 1 miliardu USD. Medicus zaplatila 12 milionů USD předem a dalších 15 milionů USD má uhradit k prvnímu výročí.
Medicus Pharma Ltd. (NASDAQ:MDCX) secured on Wednesday an exclusive, sublicensable global license from Pfizer Inc. (NYSE:PFE) to develop, manufacture, and commercialize PF-08046031 (CD228V), an early clinical-stage antibody-drug conjugate targeting melanotransferrin.
• Medicus Pharma stock is testing key support levels. What’s behind MDCX weakness?
Melanotransferrin is a protein that in humans, is encoded by the MF12 gene. The protein is a cell-surface glycoprotein found on melanoma (a type of skin cancer) cells.
The co-development agreement grants Medicus full rights to utilize CD228V for the treatment, prevention, diagnosis, control and maintenance of all human diseases and disorders.
Financial Commitments and Billion-Dollar MilestonesTo obtain the license, Medicus paid a $12 million non-refundable upfront fee to Pfizer and must pay another $15 million on the first anniversary.
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To support initial progress, Pfizer delivered a $2 million development funding payment to Medicus, which must be applied solely toward executing the CD228V development plan.
Pfizer stands to gain development, regulatory, and sales milestone payments exceeding $1 billion if all target benchmarks across multiple indications are achieved. The pharmaceutical company is also eligible for low double-digit tiered royalties on annual net sales of CD228V products throughout the royalty term.
Operational Roles and Licensing TermsAlthough Pfizer maintains patent ownership and participates in co-development oversight, Medicus retains sole authority and financial responsibility for manufacturing, regulatory approval, and commercialization efforts.
Pfizer holds the right to review budgets, receive progress reports, and elect to fund product development following the initiation of the first pivotal trial.
Additionally, Pfizer will receive a portion of specified proceeds in events involving sublicensing, strategic transactions, or a change of control at Medicus.
Unless terminated early, the contract remains effective on a product-by-product and country-by-country basis until the applicable royalty terms expire.
MDCX Stock Price Activity: Medicus Pharma shares were down 32.24% to 18 cents at the time of publication on Thursday, according to Benzinga Pro data.
Archer Investment Corp ve 2. čtvrtletí otevřela novou pozici v akciích Pfizer o 73 546 kusech za zhruba 1,771 milionu USD. Pfizer zároveň oznámila zisk 0,77 USD na akcii a tržby 15,03 miliardy USD, obojí nad odhady.
Archer Investment Corp bought a new position in shares of Pfizer Inc. (NYSE:PFE – Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 73,546 shares of the biopharmaceutical company’s stock, valued at approximately $1,771,000.
Other institutional investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its stake in Pfizer by 10.4% in the second quarter. Handelsbanken Fonder AB now owns 2,462,431 shares of the biopharmaceutical company’s stock valued at $59,295,000 after buying an additional 232,528 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Pfizer by 15.7% in the second quarter. Russell Investments Group Ltd. now owns 5,482,863 shares of the biopharmaceutical company’s stock valued at $132,365,000 after purchasing an additional 745,213 shares during the period. Leuthold Group LLC bought a new stake in shares of Pfizer during the second quarter valued at approximately $4,887,000. North Dakota State Investment Board acquired a new position in shares of Pfizer during the fourth quarter worth approximately $5,348,000. Finally, Park National Corp OH boosted its position in shares of Pfizer by 332.1% during the second quarter. Park National Corp OH now owns 242,081 shares of the biopharmaceutical company’s stock worth $5,829,000 after buying an additional 186,053 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.
Pfizer Trading Down 0.2% NYSE:PFE opened at $27.95 on Friday. Pfizer Inc. has a one year low of $23.58 and a one year high of $28.75. The company has a market cap of $159.31 billion, a PE ratio of 36.78 and a beta of 0.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.27 and a quick ratio of 0.96. The firm has a 50-day moving average of $25.55 and a 200-day moving average of $26.30.
Pfizer (NYSE:PFE – Get Free Report) last posted its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The company had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.40 billion. Pfizer had a return on equity of 19.63% and a net margin of 6.80%.The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. As a group, equities research analysts expect that Pfizer Inc. will post 2.98 EPS for the current fiscal year. Pfizer Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, July 24th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.2%. Pfizer’s dividend payout ratio is currently 226.32%.
Analyst Upgrades and Downgrades Several brokerages have weighed in on PFE. UBS Group reaffirmed a “neutral” rating and set a $27.00 target price on shares of Pfizer in a research note on Wednesday, May 27th. Wolfe Research reissued an “underperform” rating and set a $26.00 price target on shares of Pfizer in a report on Thursday, May 14th. JPMorgan Chase & Co. reduced their price objective on shares of Pfizer from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. BMO Capital Markets decreased their target price on shares of Pfizer from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, Weiss Ratings cut shares of Pfizer from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.28.
View Our Latest Research Report on PFE
Pfizer News Roundup Here are the key news stories impacting Pfizer this week:
Positive Sentiment: The FDA approved Pfizer and BioNTech’s XFG-adapted 2026–2027 COMIRNATY vaccine for adults 65 and older and people ages 5–64 with underlying conditions that increase the risk of severe COVID-19. Shipments to U.S. pharmacies, hospitals and clinics are beginning immediately, supporting seasonal vaccine revenue and confirming Pfizer’s continuing role in infectious-disease prevention. Reuters FDA approval article Positive Sentiment: Pfizer and Valneva’s Lyme disease vaccine candidate, PF-07307405, reached an additional regulatory milestone after its European Marketing Authorization Application was validated. If approved, the product could help diversify Pfizer’s vaccine portfolio beyond COVID-19. Pfizer COVID and Lyme vaccine milestones article Neutral Sentiment: Pfizer announced several clinical-development updates, including an early-stage autoimmune trial for PF-08154225, a Phase 1 study evaluating easier injection delivery for tilrekimig, a tucatinib continuation study and a post-marketing Xalkori study. These programs may strengthen the pipeline, but they remain too early or incremental to affect near-term valuation. Pfizer pipeline update Negative Sentiment: The updated COVID vaccine is aimed at older and high-risk patients, creating a substantially smaller addressable market than broad-based vaccination campaigns. That limits the likely revenue lift even though approval and immediate distribution are favorable developments. Pfizer updated COVID shot article Negative Sentiment: BioNTech’s failed colorectal-cancer vaccine trial pressured sentiment across the mRNA sector. Pfizer was relatively insulated because the setback involves BioNTech’s oncology program rather than a Pfizer-specific clinical failure, but the broader result reinforces investor concerns about the limits of mRNA technology outside infectious disease. BioNTech colorectal cancer trial article Negative Sentiment: Commentary continues to question Pfizer’s dividend sustainability because its payout ratio exceeds 100% and much of the turnaround case depends on cost reductions and growth targets that do not begin meaningfully until later in the decade. These concerns can cap enthusiasm despite Pfizer trading near its 52-week high. About Pfizer (Free Report)
Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.
Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.
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Advisors Capital Management ve 2. čtvrtletí zvýšila podíl ve společnosti Pfizer o 2,8 % a nakoupila dalších 73 540 akcií. Drží 2 703 246 akcií v hodnotě 65,094 mil. USD.
Advisors Capital Management LLC raised its holdings in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,703,246 shares of the biopharmaceutical company’s stock after purchasing an additional 73,540 shares during the quarter. Advisors Capital Management LLC’s holdings in Pfizer were worth $65,094,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Evolution Wealth Management Inc. boosted its holdings in shares of Pfizer by 132.2% in the 1st quarter. Evolution Wealth Management Inc. now owns 994 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 566 shares during the last quarter. Godfrey Financial Associates Inc. bought a new stake in Pfizer during the 4th quarter valued at $26,000. Keb Asset Management LLC purchased a new stake in Pfizer during the 2nd quarter worth about $26,000. HFM Investment Advisors LLC boosted its position in shares of Pfizer by 61.0% in the fourth quarter. HFM Investment Advisors LLC now owns 1,127 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 427 shares during the period. Finally, Global Trust Asset Management LLC boosted its holdings in Pfizer by 126.7% in the 1st quarter. Global Trust Asset Management LLC now owns 1,163 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.
Wall Street Analysts Forecast Growth A number of analysts have recently issued reports on PFE shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $27.00 price target on shares of Pfizer in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Wolfe Research reaffirmed an “underperform” rating and issued a $26.00 target price on shares of Pfizer in a research note on Thursday, May 14th. BMO Capital Markets dropped their target price on shares of Pfizer from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, Guggenheim cut their price target on shares of Pfizer from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Pfizer presently has an average rating of “Hold” and a consensus target price of $28.28.
Check Out Our Latest Research Report on PFE Pfizer Price Performance PFE opened at $28.00 on Monday. The company has a current ratio of 1.27, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $159.59 billion, a P/E ratio of 36.84 and a beta of 0.34. The stock has a 50-day moving average price of $25.30 and a 200-day moving average price of $26.25. Pfizer Inc. has a 12-month low of $23.58 and a 12-month high of $28.75.
Pfizer (NYSE:PFE – Get Free Report) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09. The company had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.40 billion. Pfizer had a net margin of 6.80% and a return on equity of 19.63%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. Equities analysts predict that Pfizer Inc. will post 2.98 earnings per share for the current fiscal year.
Pfizer Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, July 24th will be issued a $0.43 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.1%. Pfizer’s payout ratio is currently 226.32%.
Pfizer News Summary Here are the key news stories impacting Pfizer this week:
Positive Sentiment: Pfizer completed a Phase 1/2 study of PF-07868489, an experimental treatment for pulmonary arterial hypertension. The milestone supports early-stage pipeline progress, though additional clinical testing will be needed before any potential commercialization. Pfizer’s PF-07868489 PAH Study Reaches Completion Positive Sentiment: Several additional clinical updates highlighted progress across Pfizer’s development portfolio: completion of a Phase 1 atirmociclib study, completion of a drug-interaction study for PF-07248144, and a new Phase 1 liver study for atirmociclib. These milestones may reinforce confidence in Pfizer’s ability to replenish revenue as older products face competition. Atirmociclib Study Update PF-07248144 Study Update Positive Sentiment: Pfizer is also expanding real-world evidence efforts for prostate cancer therapies, Ibrance in advanced breast cancer, and a migraine treatment study in India. These studies could support broader use and strengthen commercial evidence for existing medicines. Pfizer Real-World Prostate Cancer Study Positive Sentiment: Investor-oriented coverage remains constructive, citing Pfizer’s roughly 19% year-to-date gain, attractive dividend yield, and reported hedge-fund buying. The stock’s move toward its 52-week high suggests improving sentiment. Hedge Funds Buying Pfizer Neutral Sentiment: Unusually large options activity may increase short-term trading interest, but it does not establish a clear fundamental direction for PFE. Pfizer Options Trading Negative Sentiment: Coverage of settlements involving thousands of Depo-Provera lawsuits raises concerns about potential legal costs and ongoing liability. Analysts also continue to weigh whether new drugs and acquisitions can offset revenue losses from expiring patents. Pfizer Legal Claims Pfizer Company Profile (Free Report)
Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.
Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.
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Edmond de Rothschild Holding S.A. ve 2. čtvrtletí snížila podíl ve společnosti Pfizer o 8,1 % a prodala 128 428 akcií. Po prodeji držela 1 455 651 akcií v hodnotě 35,052 mil. USD.
Edmond DE Rothschild Holding S.A. reduced its position in Pfizer Inc. (NYSE:PFE – Free Report) by 8.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,455,651 shares of the biopharmaceutical company’s stock after selling 128,428 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Pfizer were worth $35,052,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vermillion Wealth Management Inc. lifted its stake in shares of Pfizer by 19.4% during the first quarter. Vermillion Wealth Management Inc. now owns 2,352 shares of the biopharmaceutical company’s stock valued at $66,000 after acquiring an additional 382 shares during the period. Eagle Capital Management LLC increased its position in Pfizer by 0.3% in the first quarter. Eagle Capital Management LLC now owns 126,573 shares of the biopharmaceutical company’s stock worth $3,554,000 after purchasing an additional 390 shares during the period. Delta Financial Advisors LLC increased its position in Pfizer by 1.6% in the first quarter. Delta Financial Advisors LLC now owns 25,266 shares of the biopharmaceutical company’s stock worth $709,000 after purchasing an additional 398 shares during the period. Pines Wealth Management LLC raised its holdings in Pfizer by 4.4% during the 4th quarter. Pines Wealth Management LLC now owns 9,430 shares of the biopharmaceutical company’s stock worth $235,000 after purchasing an additional 400 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD raised its holdings in Pfizer by 1.0% during the 1st quarter. Mount Vernon Associates Inc. MD now owns 41,919 shares of the biopharmaceutical company’s stock worth $1,177,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.
Wall Street Analyst Weigh In Several brokerages have recently issued reports on PFE. HSBC lowered shares of Pfizer from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $28.00 in a research note on Monday, July 6th. Guggenheim cut their price objective on shares of Pfizer from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $27.00 price objective on shares of Pfizer in a research note on Monday, July 6th. JPMorgan Chase & Co. lowered their target price on shares of Pfizer from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Finally, Bank of America dropped their target price on shares of Pfizer from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Pfizer has a consensus rating of “Hold” and an average target price of $28.28.
Check Out Our Latest Stock Report on PFE Pfizer Price Performance Pfizer stock opened at $28.00 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $159.59 billion, a P/E ratio of 36.84 and a beta of 0.34. The business has a 50-day moving average of $25.30 and a 200-day moving average of $26.25. Pfizer Inc. has a 1 year low of $23.58 and a 1 year high of $28.75.
Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. Pfizer had a net margin of 6.80% and a return on equity of 19.63%. The business had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same period last year, the company posted $0.78 EPS. Pfizer’s revenue for the quarter was up 2.6% on a year-over-year basis. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. On average, equities analysts anticipate that Pfizer Inc. will post 2.98 EPS for the current year.
Pfizer Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, July 24th will be issued a $0.43 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.72 annualized dividend and a yield of 6.1%. Pfizer’s dividend payout ratio (DPR) is 226.32%.
Trending Headlines about Pfizer Here are the key news stories impacting Pfizer this week:
Positive Sentiment: Pfizer completed a Phase 1/2 study of PF-07868489, an experimental treatment for pulmonary arterial hypertension. The milestone supports early-stage pipeline progress, though additional clinical testing will be needed before any potential commercialization. Pfizer’s PF-07868489 PAH Study Reaches Completion Positive Sentiment: Several additional clinical updates highlighted progress across Pfizer’s development portfolio: completion of a Phase 1 atirmociclib study, completion of a drug-interaction study for PF-07248144, and a new Phase 1 liver study for atirmociclib. These milestones may reinforce confidence in Pfizer’s ability to replenish revenue as older products face competition. Atirmociclib Study Update PF-07248144 Study Update Positive Sentiment: Pfizer is also expanding real-world evidence efforts for prostate cancer therapies, Ibrance in advanced breast cancer, and a migraine treatment study in India. These studies could support broader use and strengthen commercial evidence for existing medicines. Pfizer Real-World Prostate Cancer Study Positive Sentiment: Investor-oriented coverage remains constructive, citing Pfizer’s roughly 19% year-to-date gain, attractive dividend yield, and reported hedge-fund buying. The stock’s move toward its 52-week high suggests improving sentiment. Hedge Funds Buying Pfizer Neutral Sentiment: Unusually large options activity may increase short-term trading interest, but it does not establish a clear fundamental direction for PFE. Pfizer Options Trading Negative Sentiment: Coverage of settlements involving thousands of Depo-Provera lawsuits raises concerns about potential legal costs and ongoing liability. Analysts also continue to weigh whether new drugs and acquisitions can offset revenue losses from expiring patents. Pfizer Legal Claims About Pfizer (Free Report)
Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.
Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.
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BlackRock Inc. raised its stake in Pfizer Inc. (NYSE:PFE – Free Report) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 529,670,433 shares of the biopharmaceutical company’s stock after acquiring an additional 31,412,883 shares during the quarter. BlackRock Inc. owned approximately 9.29% of Pfizer worth $12,754,464,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Pfizer in the 4th quarter worth approximately $1,830,986,000. Morgan Stanley grew its position in shares of Pfizer by 19.2% in the fourth quarter. Morgan Stanley now owns 89,113,604 shares of the biopharmaceutical company’s stock valued at $2,218,929,000 after purchasing an additional 14,342,946 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Pfizer by 38.9% during the fourth quarter. Bank of New York Mellon Corp now owns 48,514,971 shares of the biopharmaceutical company’s stock valued at $1,208,023,000 after buying an additional 13,581,757 shares during the period. Janus Henderson Group PLC grew its stake in Pfizer by 577.5% during the fourth quarter. Janus Henderson Group PLC now owns 8,786,084 shares of the biopharmaceutical company’s stock valued at $218,817,000 after acquiring an additional 7,489,189 shares in the last quarter. Finally, Capital World Investors increased its holdings in shares of Pfizer by 51.5% in the fourth quarter. Capital World Investors now owns 21,433,890 shares of the biopharmaceutical company’s stock worth $533,704,000 after purchasing an additional 7,287,194 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.
Pfizer Trading Up 0.8% Pfizer stock opened at $28.00 on Friday. The company has a market capitalization of $159.59 billion, a price-to-earnings ratio of 36.84 and a beta of 0.34. The business’s fifty day simple moving average is $25.30 and its two-hundred day simple moving average is $26.25. Pfizer Inc. has a 12 month low of $23.58 and a 12 month high of $28.75. The company has a current ratio of 1.27, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71.
Pfizer (NYSE:PFE – Get Free Report) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09. Pfizer had a return on equity of 19.63% and a net margin of 6.80%.The business had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. Pfizer’s revenue was up 2.6% on a year-over-year basis. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. As a group, equities analysts predict that Pfizer Inc. will post 2.98 earnings per share for the current fiscal year. Pfizer Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, July 24th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.1%. Pfizer’s dividend payout ratio is presently 226.32%.
Key Pfizer News Here are the key news stories impacting Pfizer this week:
Positive Sentiment: Pfizer completed a Phase 1/2 study of PF-07868489, an experimental treatment for pulmonary arterial hypertension. The milestone supports early-stage pipeline progress, though additional clinical testing will be needed before any potential commercialization. Pfizer’s PF-07868489 PAH Study Reaches Completion Positive Sentiment: Several additional clinical updates highlighted progress across Pfizer’s development portfolio: completion of a Phase 1 atirmociclib study, completion of a drug-interaction study for PF-07248144, and a new Phase 1 liver study for atirmociclib. These milestones may reinforce confidence in Pfizer’s ability to replenish revenue as older products face competition. Atirmociclib Study Update PF-07248144 Study Update Positive Sentiment: Pfizer is also expanding real-world evidence efforts for prostate cancer therapies, Ibrance in advanced breast cancer, and a migraine treatment study in India. These studies could support broader use and strengthen commercial evidence for existing medicines. Pfizer Real-World Prostate Cancer Study Positive Sentiment: Investor-oriented coverage remains constructive, citing Pfizer’s roughly 19% year-to-date gain, attractive dividend yield, and reported hedge-fund buying. The stock’s move toward its 52-week high suggests improving sentiment. Hedge Funds Buying Pfizer Neutral Sentiment: Unusually large options activity may increase short-term trading interest, but it does not establish a clear fundamental direction for PFE. Pfizer Options Trading Negative Sentiment: Coverage of settlements involving thousands of Depo-Provera lawsuits raises concerns about potential legal costs and ongoing liability. Analysts also continue to weigh whether new drugs and acquisitions can offset revenue losses from expiring patents. Pfizer Legal Claims Analyst Ratings Changes Several equities research analysts recently issued reports on the company. Bank of America dropped their price objective on Pfizer from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Cantor Fitzgerald restated a “neutral” rating and issued a $27.00 price objective on shares of Pfizer in a research report on Monday, July 6th. Guggenheim decreased their price target on shares of Pfizer from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings cut shares of Pfizer from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Finally, HSBC downgraded Pfizer from a “buy” rating to a “hold” rating and lowered their price target for the company from $32.00 to $28.00 in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Pfizer currently has an average rating of “Hold” and a consensus price target of $28.28.
View Our Latest Stock Analysis on Pfizer
About Pfizer (Free Report)
Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.
Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.
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Key Takeaways Pfizer plans more than 20 obesity studies in 2026, including 10 phase III berobenatide trials.Berobenatide could offer monthly maintenance dosing after an initial weekly injection.Pfizer targets its first potential berobenatide approval in 2028, but faces high execution risk. The global obesity market is emerging as one of the largest growth opportunities in pharmaceuticals. The market is projected to grow dramatically, reaching nearly $114 billion by 2030, according to Goldman Sachs estimates. At present, Eli Lilly’s (LLY - Free Report) Zepbound and Novo Nordisk’s (NVO - Free Report) Wegovy are the most popular GLP-1 drugs used to treat obesity.
To take a share of this market, Pfizer (PFE - Free Report) has made a significant strategic move to participate through its 2025 acquisition of Metsera and development of a broad obesity pipeline. Pfizer’s obesity portfolio includes injectables with the potential for monthly or longer dosing, once-daily orals and other novel combinations
The most important asset added from the Metsera deal is berobenatide (MET-097i), a long-acting GLP-1 receptor agonist that is in phase III development for chronic weight management.
While Zepbound and Wegovy are weekly injections, berobenatide starts off as a weekly injection and then switches to a monthly injection. Berobenatide is designed for monthly maintenance dosing.
Data from phase IIb VESPER studies on berobenatide showed that the candidate delivers meaningful weight loss while maintaining a favorable tolerability profile following the transition from weekly to monthly dosing.
Pfizer plans an extensive phase III program for berobenatide in 2026. Pfizer plans to start more than 20 obesity studies in 2026, including 10 phase III studies for berobenatide for obesity and obesity-related comorbidities, including knee osteoarthritis and obstructive sleep apnea. Three phase III studies on berobenatide have already begun. Pfizer plans to soon start a phase III study evaluating participants switching from approved weekly therapies to monthly berobenatide.
Pfizer is targeting the first of a series of potential approvals for berobenatide in 2028. Pfizer is also evaluating berobenatide in combination with an ultra-long-acting amylin analog, PF'3945, as a monthly medicine in phase II studies with additional data expected later this year.
Can Pfizer Carve Out a Share in the Obesity Market?Pfizer is a late entrant in the obesity market, which is heavily dominated by Lilly and Novo Nordisk. LLY and NVO already enjoy enormous commercial scale and brand recognition in the obesity space.
Moreover, to maintain their prowess in the lucrative obesity market, both Novo Nordisk and Lilly are developing several next-generation, more powerful and more convenient GLP-1-based treatments, including oral options and multi-acting candidates. Both Lilly and Novo Nordisk have also launched oral GLP-1 pills for obesity called Foundayo and Wegovy pill, respectively.
The obesity pipeline is rapidly evolving beyond traditional GLP-1 therapies. Lilly's next-generation candidate, retatrutide, which targets GLP-1, GIP and glucagon receptors simultaneously, has demonstrated profound levels of weight loss and improvements in A1C, cardiovascular risk factors, osteoarthritis pain and sleep apnea, across its TRIUMPH program. Lilly plans to submit the treatment to the FDA in the first quarter of 2027.
Pfizer currently trails Lilly and Novo Nordisk by several years in the obesity space. However, the obesity market is huge and can support multiple players, and even a mid-single-digit market share could translate into billions of dollars in annual revenues.
If Pfizer’s berobenatide succeeds and monthly dosing or better tolerability differentiates it from Zepbound/Wegovy, or if its next-generation oral programs prove competitive, it can take a slice of the obesity space in the long term.
Overall, Pfizer’s obesity opportunity is high potential but has high execution risk as well.
Competition Heating Up in the Obesity SpaceWhile Lilly and Novo Nordisk currently dominate this space, smaller biotechs like Structure Therapeutics and Viking Therapeutics are also developing oral GLP-1 drugs for treating obesity.
Amgen is also developing MariTide, a GIPR/GLP-1 receptor, with a monthly and maybe less frequent dosing.
Others, such as Roche, AstraZeneca (AZN - Free Report) and AbbVie, have strengthened their obesity pipelines through licensing deals and acquisitions involving smaller biotechs. AbbVie entered the obesity field by licensing GUB014295 (now ABBV-295), a long-acting amylin analog, from Gubra in 2025. Roche strengthened its obesity presence through the acquisition of Carmot Therapeutics and its obesity assets, such as enicepatide (previously CT-388), as well as the exclusive collaboration with Zealand Pharma, which added petrelintide, a long-acting amylin analog.
AstraZeneca’s most important obesity candidate is oral GLP-1 receptor agonist elecoglipron, which it licensed from Eccogene in 2023 and is now in phase III.
PFE’s Price Performance, Valuation and Estimates Pfizer stock has risen 9.5% so far this year compared with an 11.9% growth of 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 9.24 forward earnings, significantly lower than 18.51 for the industry as well as the stock’s five-year mean of 9.25.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings per share has risen from $2.96 to $2.98, while that for 2027 has increased from $2.85 to $2.93 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.
Gateway Wealth Partners ve 2. čtvrtletí snížila podíl v Pfizeru o 54,4 % na 19 883 akcií v hodnotě 479 000 USD. Pfizer zároveň oznámil čtvrtletní zisk 0,77 USD na akcii a tržby 15,03 miliardy USD.
Gateway Wealth Partners LLC lowered its position in Pfizer Inc. (NYSE:PFE – Free Report) by 54.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,883 shares of the biopharmaceutical company’s stock after selling 23,708 shares during the period. Gateway Wealth Partners LLC’s holdings in Pfizer were worth $479,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of PFE. Godfrey Financial Associates Inc. bought a new position in Pfizer in the 4th quarter valued at $26,000. Keb Asset Management LLC acquired a new position in Pfizer in the second quarter worth $26,000. HFM Investment Advisors LLC grew its holdings in shares of Pfizer by 61.0% during the fourth quarter. HFM Investment Advisors LLC now owns 1,127 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 427 shares during the last quarter. Evolution Wealth Management Inc. grew its holdings in shares of Pfizer by 132.2% during the first quarter. Evolution Wealth Management Inc. now owns 994 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 566 shares during the last quarter. Finally, Abound Financial LLC acquired a new stake in shares of Pfizer in the fourth quarter valued at $31,000. 68.36% of the stock is currently owned by institutional investors.
Key Pfizer News Here are the key news stories impacting Pfizer this week:
Positive Sentiment: EMA validates Lyme vaccine filing: The European Medicines Agency validated Pfizer and Valneva’s marketing application for their Lyme disease vaccine candidate, allowing the application to proceed to a full regulatory review. The filing follows late-stage data showing encouraging efficacy and safety. Approval could create a new commercial opportunity for Pfizer, although regulatory and launch risks remain. Pfizer Gets EMA Lyme Vaccine Filing Validation Positive Sentiment: Pipeline and intellectual-property support: Pfizer completed a Phase 1 study of its early-stage obesity candidate PF-08653944, maintaining optionality in a high-growth therapeutic market. A separate patent analysis also identified Pfizer as a leading holder of next-generation antibody-drug-conjugate patents, strengthening the company’s potential position in cancer treatment. Both developments are longer-term catalysts rather than immediate revenue drivers. Pfizer Advances Early Obesity Drug PF-08653944 Neutral Sentiment: Healthcare-sector momentum: Healthcare indexes rose broadly late Tuesday, providing a favorable trading backdrop for defensive, dividend-paying pharmaceutical companies such as Pfizer. The sector move appears to be a market-wide factor rather than a Pfizer-specific fundamental change. Healthcare Stocks Climb Late Afternoon Neutral Sentiment: Obesity-drug competition and deal interest: Kailera Therapeutics’ large obesity-drug IPO highlights intense industry interest in the market and could increase attention on Pfizer’s pipeline or potential acquisition opportunities. At the same time, rising competition makes Pfizer’s early-stage program more speculative. Kailera Therapeutics Obesity IPO Negative Sentiment: Patent-cliff concerns remain: Despite Pfizer’s low valuation and attractive dividend, analysts continue to warn that upcoming patent expirations could pressure revenue and earnings as key products face generic or biosimilar competition. This remains the primary fundamental overhang on PFE. Pfizer Still Cheap Valuation Meets a Looming Patent Cliff Pfizer Price Performance Pfizer stock opened at $27.30 on Wednesday. The business’s 50-day simple moving average is $25.18 and its 200 day simple moving average is $26.21. The stock has a market cap of $155.57 billion, a price-to-earnings ratio of 35.91 and a beta of 0.34. Pfizer Inc. has a 12-month low of $23.58 and a 12-month high of $28.75. The company has a quick ratio of 0.96, a current ratio of 1.27 and a debt-to-equity ratio of 0.71. Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.09. Pfizer had a return on equity of 19.63% and a net margin of 6.80%.The firm had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.40 billion. During the same period in the previous year, the business posted $0.78 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. As a group, research analysts anticipate that Pfizer Inc. will post 2.98 earnings per share for the current year.
Pfizer Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, July 24th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, July 24th. Pfizer’s payout ratio is 226.32%.
Wall Street Analysts Forecast Growth PFE has been the topic of several research reports. HSBC downgraded shares of Pfizer from a “buy” rating to a “hold” rating and reduced their price target for the stock from $32.00 to $28.00 in a research report on Monday, July 6th. BMO Capital Markets lowered their price objective on shares of Pfizer from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. JPMorgan Chase & Co. dropped their target price on shares of Pfizer from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. UBS Group reiterated a “neutral” rating and set a $27.00 target price on shares of Pfizer in a research report on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.28.
Check Out Our Latest Stock Analysis on Pfizer
Pfizer Profile (Free Report)
Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.
Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.
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EMA validovala žádost o schválení vakcíny proti lymské borelióze PF-07307405 od společností Pfizer a Valneva. Kandidát ve fázi 3 vykázal účinnost přes 70 % a nebyly hlášeny bezpečnostní problémy.
Valneva SE (NASDAQ:VALN) stock is surging on Friday after the company and its partner Pfizer Inc. (NYSE:PFE) announced that the European Medicines Agency (EMA) has validated the Marketing Authorization Application (MAA) for PF-07307405, their Lyme disease vaccine candidate.
The EMA will now commence its assessment of the application.
Clinical Trial ResultsThe application for PF-07307405 is supported by encouraging efficacy data from the Phase 3 VALOR clinical trial.
The trial evaluated the vaccine candidate’s ability to prevent Lyme disease in individuals aged five and older. The results demonstrated an efficacy of over 70%.
Furthermore, the vaccine was well-tolerated among trial participants, with no safety concerns reported.
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In March, the companies released topline results from the Phase 3 VALOR clinical trial for its Lyme disease vaccine candidate, which did not meet the primary endpoint criteria.
The Phase 3 VALOR trial results showed that fewer Lyme disease cases were accrued than anticipated, and the primary endpoint was not met in the first analysis.
Collaborative EffortPF-07307405 was developed through a collaboration between Pfizer and Valneva. The vaccine candidate has undergone rigorous evaluation for its efficacy, safety, tolerability, immunogenicity, and manufacturing lot consistency.
The two companies entered into a collaboration and license agreement in April 2020. Under this agreement, they are co-developing PF-07307405, and Pfizer holds the exclusive rights to manufacture and commercialize the vaccine, pending regulatory approval.
VALN Stock Price Activity: Valneva shares were up 24.96% at $7.06 at the time of publication on Friday,
according to Benzinga Pro data.
Photo: Shutterstock
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Market News and Data brought to you by Benzinga APIs
Pfizer ve 2. čtvrtletí zvýšil tržby mimo COVID o 5 % operativně a tržby z nově uvedených a převzatých produktů o 18 %. Zároveň navýšil výhled tržeb pro rok 2026 o 500 milionů USD.
Key Takeaways Pfizer's non-COVID revenues rose 5% operationally in Q2, while launched and acquired products grew 18%. Pfizer raised 2026 revenue guidance by $500 million, citing stronger non-COVID product performance.Pfizer is targeting 2028 obesity approvals while advancing late-stage oncology candidates for future growth. Pfizer's (PFE - Free Report) business mix has changed significantly over the past few years. During the pandemic, the company became heavily dependent on COVID-19 products, Comirnaty (COVID-19 vaccine) and Paxlovid (oral antiviral). However, the company is gradually diversifying its portfolio through a combination of internal product launches, strategic acquisitions and the continued growth of several established brands.
Pfizer’s non-COVID portfolio is increasingly becoming the company’s primary engine of growth, helping offset the sharp decline in Comirnaty and Paxlovid revenues. The latest second-quarter 2026 results provide particularly strong evidence of this transition. Pfizer’s revenues excluding Comirnaty and Paxlovid increased 5% operationally, while its launched and acquired products grew 18% operationally. Pfizer also raised the midpoint of its 2026 revenue guidance by $500 million, with the company attributing roughly $1.5 billion of the improvement to better-than-expected performance of non-COVID products.
Established Brands & New Products Drive PFE’s Non-COVID GrowthA key driving factor behind growth in non-COVID revenues has been the continued rise in sales of several established brands like Vyndaqel and alliance revenues from partner Bristol-Myers (BMY - Free Report) for Eliquis.
Some internally developed product launches are also contributing to its top-line growth. Key recent product launches include Abrysvo, the first RSV vaccine approved for older adults and for maternal immunization to protect infants; Zavzpret, a nasal spray CGRP antagonist for acute migraine treatment; Hympavzi, a once-weekly treatment for hemophilia A and B with inhibitors; Elrexfio, a BCMA-targeted bispecific antibody for relapsed or refractory multiple myeloma, and Litfulo for severe alopecia areata.
PFE’s Acquisitions Complement Internal R&DThe company is also trying to rebuild its pipeline through acquisitions. Seagen, Metsera and Biohaven are the most significant strategic acquisitions in recent years and could turn out to be transformative opportunities for the company. A key acquired product that has become a significant contributor to revenue growth is Padcev, added from Seagen.
In the second quarter, revenues from Pfizer’s acquired products like Padcev, Nurtec (added from Biohaven) and others grew 25% operationally, when excluding the impact of certain one-time items in the same quarter a year ago.
Pfizer’s Pipeline Provides a Second Wave of GrowthPfizer is rebuilding its pipeline in oncology and obesity, which it believes can drive growth in 2028 and beyond. In obesity, Pfizer plans an extensive phase III program for berobenatide, its monthly GLP-1 receptor agonist added from last year’s Metsera acquisition, in 2026. Pfizer plans to start more than 20 obesity studies in 2026, including 10 phase III studies for berobenatide for obesity and obesity-related comorbidities, including knee osteoarthritis and obstructive sleep apnea. Pfizer is targeting the first of a series of potential approvals for berobenatide in 2028. However, in the obesity space, Pfizer lags behind leaders like Eli Lilly (LLY - Free Report) and Novo Nordisk (NVO - Free Report) .
The currently available and highly popular weight loss GLP therapies, Eli Lilly’s Zepbound and Novo Nordisk’s Wegovy, are weekly injections. On the other hand, Pfizer’s berobenatide starts off as a weekly injection and then switches to a monthly injection. Berobenatide is designed for monthly maintenance dosing.
Pfizer is also advancing its oncology clinical pipeline across areas such as breast, thoracic, gastrointestinal and blood cancer. Several oncology candidates have entered late-stage development. Pfizer plans to start four pivotal studies for PF-08634404, a dual PD-1/VEGF inhibitor in-licensed from Chinese biotech 3SBio in 2025. Besides obesity and oncology, Pfizer is advancing candidates in migraine, hemophilia, vaccines, inflammation and immunology. Several of these programs could create additional growth opportunities over the next several years.
ConclusionAlthough Pfizer’s 2026 sales guidance indicates minimal growth, the company expects a high single-digit revenue CAGR for five years, starting from year-end 2028. Pfizer expects its recently launched and acquired products, along with a strong pipeline, to help it return to growth from 2029 onward.
The key question is therefore shifting from “How quickly will Pfizer recover from the decline in COVID revenues?” to “Can its newer products grow rapidly enough to deliver sustainable overall growth amid an approaching patent cliff and continued pricing pressures?” So far, the outlook appears increasingly encouraging. Established growth drivers such as Eliquis, Vyndaqel, Padcev and Lorbrena are already generating meaningful growth, while newer launches, obesity programs and a broader pipeline could provide additional growth opportunities over the next several years.
PFE’s Price Performance, Valuation and EstimatesPfizer’s stock has risen 6.8% so far this year compared with an increase of 13.5% 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 9.03 forward earnings, significantly lower than 18.91 for the industry and slightly below the stock’s five-year mean of 9.28. The stock is also trading below most large drugmakers like Lilly, Novo Nordisk, AstraZeneca, AbbVie, J&J and others.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings has risen from $2.96 per share to $2.97 per share, while that for 2027 has risen from $2.86 per share to $2.93 per share over the past 60 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.
Pfizer letos vykázala čistý zisk 2,4 miliardy USD, což je meziročně o 58 % méně. Volný cash flow za poslední čtyři čtvrtletí ale činil 11 miliard USD a pokryl dividendu.
Dividend cuts don't typically happen without warning. Investors can see a business that's in trouble. Perhaps it's in the midst of a turnaround, it's restructuring, or its profits are simply declining, and the dividend may no longer be sustainable. These are all things to watch out for and consider before investing in a stock for its dividend.
Pfizer (PFE +0.87%) is a top healthcare stock, which investors have relied on for years for its growth and reliable payouts. But recently, it has had trouble attracting many investors due to question marks around its growth prospects and its poor financials. This year, its earnings are down big. Does that mean a dividend cut could happen soon?
Image source: Getty Images.
Is Pfizer's dividend still sustainable? Pfizer has been struggling to generate much growth, meanwhile, its expenses have been on the rise as it restructures its business and incorporates recent acquisitions into the fold. In its most recent quarter, which ended on June 30, it incurred a net loss of $248 million, largely due to $3.8 billion worth of impairment charges related to in-process research and development assets.
On a year-to-date basis, the company's net income totaled $2.4 billion, which was down 58% from the $5.9 billion it reported a year ago. Clearly, a big part of the reason for the decline relates to the recent impairment. The good news for income investors: it's a non-cash charge.
What may be more important is to focus on free cash flow, which tells investors how much cash the business has available to fund its payout. The number represents how much cash flow is left after deducting capital expenditures, which are necessary for the company's growth.
Cash can fluctuate significantly depending on when a company pays bills and collects revenue, which is why it's helpful to look beyond just a single period. Over the past four quarters, Pfizer's free cash has totaled $11 billion, which is more than the roughly $9.8 billion it has paid in dividends during that stretch. That's a positive sign that the dividend may still be safe.
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Pfizer has a lot of upside, but it does come with risk Year to date, Pfizer's stock has risen by 9%, but over the past five years, it's down a massive 44%. If it can show that its acquisitions are paying off and get back to growing, as it plans to, then there may be room for the stock to rise significantly higher. But there are no guarantees. The same goes for its dividend, which yields 6.4%. It appears safe for now, but if the company has to conserve cash to invest it into its future growth, there is the possibility that a cut to the payout may happen.
Pfizer could be a good stock to buy for the long haul, but there are definitely safer options out there for income investors.
Pfizer po výsledcích za 2. čtvrtletí zvýšil spodní hranici výhledu tržeb pro rok 2026 na 60,5–62,5 miliardy USD. Akcie od oznámení výsledků vzrostly o 6,9 %.
Key Takeaways Pfizer raised the lower end of the 2026 revenue guidance as new and acquired products gained traction.Pfizer's COVID sales continue to fall, while patent expirations are expected to weigh on revenues.Pfizer is advancing oncology and obesity pipelines to drive growth, with newer products posting strong gains. Pfizer (PFE - Free Report) stock has risen 6.9% since it announced second-quarter 2026 results on Aug. 4. Pfizer delivered a solid second quarter, beating estimates for both earnings and revenues. While earnings growth was flat year over year, revenues rose 1% on an operational basis. Strength in non-COVID products continued to offset declining sales of its COVID products, Comirnaty (COVID-19 vaccine - in partnership with BioNTech [(BNTX - Free Report) ]) and Paxlovid (oral antiviral). Excluding sales from BioNTech-partnered Comirnaty and Paxlovid, revenues increased 5% operationally.
Pfizer also raised the lower end of its 2026 revenue guidance, backed by continued strong performance of its new and acquired products. The company now expects revenues between $60.5 billion and $62.5 billion, compared with the previous range of $59.5 billion to $62.5 billion. The adjusted earnings guidance was reaffirmed at $2.80-$3.00 per share. However, the guidance now absorbs a 10 cents per share charge related to its licensing deal with Chinese biotech Innovent Biologics that will be recorded in the third quarter of 2026.
However, a single quarter’s results are not so important for long-term investors. To make an informed decision on whether to buy, sell or hold the stock, it is important to evaluate the company’s fundamentals by examining its key strengths and weaknesses.
First, let’s understand the negatives.
Declining Sales of PFE’s COVID ProductsDuring the pandemic, Pfizer generated extraordinary COVID-related sales from Comirnaty and Paxlovid. Those revenues have fallen sharply as the pandemic faded.
Sales of Pfizer’s COVID products, Comirnaty and Paxlovid, came down to around $11 billion in 2024 and $6.7 billion in 2025 from $56.7 billion in 2022. Sales of Comirnaty are declining due to a narrow recommendation for COVID vaccines in the United States, while Paxlovid is experiencing reduced demand from lower infection rates.
In 2026, Pfizer expects COVID-related revenues of approximately $4 billion, down from its previous forecast of $5 billion and below $6.7 billion generated in 2025. The decline reflects the continued normalization of COVID-19 infection rates and lower demand for COVID products. Consistent with this trend, sales of both Comirnaty and Paxlovid declined significantly during the first half of 2026.
PFE’s LOE HeadwindsPfizer faces a significant patent cliff later this decade. Pfizer expects a significant negative impact on revenues from the loss of exclusivity (“LOE”) cliff in the 2026-2030 period as several of its key products, including Eliquis, Ibrance, Xeljanz and Xtandi, face patent expirations. The LOE cliff is expected to hurt sales by approximately $1.1 billion in 2026, which is slightly lower than the prior expectation of $1.5 billion.
PFE’s 2026 Financial Outlook DullPfizer’s revenue and earnings guidance for 2026 indicates mostly flat to slightly negative year-over-year growth.
Pfizer expects total revenues for 2026 to be between $60.5 billion and $62.5 billion. The range represents a slight decline from 2025 revenues of $62.6 billion due to lower revenues from COVID products, Comirnaty and Paxlovid, and loss of revenues from the upcoming patent cliff.
In 2026, Pfizer expects adjusted earnings per share 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 3SBio and Metsera deals, lower COVID revenues and higher taxes.
However, not everything is going wrong at Pfizer. Let’s see the positives.
PFE’s Non-COVID Portfolio Driving Its Next Phase of GrowthPfizer's business mix has changed significantly over the past few years. During the pandemic, the company became heavily dependent on COVID-19 products. However, the company is gradually diversifying its portfolio through a combination of internal product launches like Abrysvo, Zavzpret, Elrexfio, Hympavzi, Litfulo and others, strategic acquisitions like Seagen, Metsera and Biohaven and the continued growth of several established brands like Vyndaqel, Padcev and Eliquis.
Pfizer expects its recently launched and acquired products to record continued double-digit growth. Reflecting this trend, sales from these products increased 22% operationally in the first quarter of 2026 and 18% in the second quarter.
PFE Enjoys a Strong Position in OncologyPfizer is one of the world’s leading oncology drugmakers with a broad portfolio of marketed cancer therapies as well as 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 5% in the first half of 2026, driven by drugs like Xtandi, Lorbrena, the Braftovi-Mektovi combination and Padcev. Pfizer considers Padcev to be a potential growth driver in the oncology segment and plans to invest in this asset.
Pfizer has ventured into the oncology biosimilars space and markets six biosimilars for cancer. It is also advancing its oncology clinical pipeline across areas such as breast, thoracic, gastrointestinal and blood cancers. 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.
A key candidate in its oncology pipeline is PF-08634404, a dual PD-1/VEGF inhibitor in-licensed from Chinese biotech 3SBio in 2025. Pfizer has initiated nine studies, including two pivotal phase III studies for PF-08634404 in first-line metastatic colorectal cancer and first-line NSCLC. Pfizer aims to establish PF-08634404 as a potential backbone therapy across multiple tumor types. By 2030, Pfizer expects to have eight or more blockbuster oncology medicines in its portfolio.
Pfizer’s Fast Progressing Obesity PipelineThe company is rebuilding its pipeline in oncology and obesity, which it believes can drive growth in 2028 and beyond. Pfizer plans an extensive phase III program for berobenatide, its monthly GLP-1 receptor agonist added from last year’s Metsera acquisition, in 2026. Pfizer plans to start more than 20 obesity studies in 2026, including 10 phase III studies for berobenatide for obesity and obesity-related comorbidities, including knee osteoarthritis and obstructive sleep apnea. Three phase III studies on berobenatide have already begun. Pfizer is targeting the first of a series of potential approvals for berobenatide in 2028. Pfizer is also evaluating berobenatide in combination with an amylin-based therapy, PF'3945, in phase II studies. However, in the obesity space, Pfizer lags far behind leaders like Eli Lilly (LLY - Free Report) and Novo Nordisk (NVO - Free Report) .
PFE Stock’s Price, Estimates & ValuationPfizer’s stock has risen 7.5% so far this year compared with an increase of 11.4% for the industry.
PFE Stock Underperforms IndustryImage 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 9.08 forward earnings, significantly lower than 18.53 for the industry and slightly lower than the stock’s five-year mean of 9.28. The stock is also trading below most large drugmakers like Lilly, Novo Nordisk, AstraZeneca, AbbVie, J&J and others.
PFE Stock ValuationImage Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings is stable at $2.97 per share, while that for 2027 has risen from $2.86 per share to $2.93 per share over the past 30 days.
PFE Estimate Movement Image Source: Zacks Investment Research
Stay Invested in PFE StockPfizer is navigating a difficult transition following the sharp decline in COVID-related sales from Comirnaty and Paxlovid. The market is concerned about Pfizer’s ability to replace declining COVID-related revenues and offset upcoming patent expirations through new product launches, pipeline development and contributions from acquisitions.
Although Pfizer’s 2026 sales guidance indicates minimal growth, the company expects a high single-digit revenue CAGR for five years, starting from year-end 2028. Pfizer expects its recently launched and acquired products, along with a strong pipeline, to help it return to growth from 2029 onward.
Pfizer's valuation is relatively inexpensive compared with many large pharmaceutical peers, and the stock offers one of the highest dividend yields in the sector. Pfizer’s dividend yield stands at around 6.4%
Pfizer’s significant cost reduction and efforts to improve R&D productivity measures are also driving profit growth. Pfizer expects approximately $9.7 billion in total net savings from its productivity enhancement initiative through 2029.
Long-term investors may consider retaining this Zacks Rank #3 (Hold) stock and can wait and see if Pfizer can successfully execute on its strategy and generate meaningful growth from its newer assets and restore revenue growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The past few years have been rough on Pfizer (PFE +2.14%). The company has generally posted subpar financial results due to weakness within its coronavirus franchise, which once helped it become the first biopharmaceutical company to achieve $100 billion in annual sales. The drugmaker is looking to turn things around by developing potential blockbuster products, and one of its most promising candidates is berobenatide, an investigational weight loss therapy. The anti-obesity market is growing rapidly and could be worth $190 billion by 2035, compared to just $79 billion last year, according to some estimates. Could Pfizer's berobenatide help the company capitalize on this large opportunity?
Image source: The Motley Fool.
Challenging the giants Pfizer will have to compete against the leaders in the weight-loss market, Eli Lilly, whose Zepbound is the best-selling drug in this niche, and Novo Nordisk, a pioneer in the market and the company behind Wegovy, perhaps the best-known brand in the field. How does berobenatide compare to Wegovy and Zepbound? It's hard to say without head-to-head clinical trials, but the data we do have so far suggest that Pfizer's candidate could be highly competitive.
In a phase 2b study, berobenatide achieved a weight loss of almost 16% (non-placebo-adjusted) in 32 weeks, with no plateau observed. Those are strong results, considering that Zepbound posted a weight loss of 20.2%, versus Wegovy's 13.7%, in a 72-week head-to-head study. If berobenatide can extend its results in phase 3 studies, we could be looking at the next billion-dollar weight loss drug.
The case for Pfizer Berobenatide has another advantage: It could be administered monthly. So, even with slightly lower efficacy than weekly anti-obesity medicines, it may attract a large patient population. Further, the medicine's safety and tolerability profile appears strong. Pfizer is planning to run various phase 3 studies for this candidate across weight management and obesity-related comorbidities, including such potential indications as obstructive sleep apnea and knee osteoarthritis. This is clearly a highly promising product, and it seems the market has yet to factor its potential into Pfizer's share price.
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The stock has basically moved sideways since November, when Pfizer acquired Metsera, the biotech company that originally developed berobenatide. It's also worth noting that Pfizer has plenty of other attractive candidates, especially in oncology. Also, even though its financial results haven't been strong, some of the company's products should perform well over the medium term. The list includes Padcev, a cancer medicine. Then there is Pfizer's strong dividend program. The company regularly increases its payouts and currently offers a juicy forward yield of 6.7%. All of those are great reasons to consider the stock.
Beware of these risks However, there are also significant risks to consider. There is, of course, the possibility that berobenatide will not perform as well as expected in phase 3 studies that test investigational drugs in broader, more representative patient populations using more rigorous endpoints. Even beyond that, we should expect many other pharmaceutical leaders to make headway in this field over the next couple of years.
For instance, Amgen (AMGN +1.50%) is also working on a weight loss candidate that could be administered monthly (or less frequently). As more weight loss drugs enter the market, it will become harder for newer medicines to earn approval (regulators will have higher standards), and it may put downward pressure on the prices of these drugs, making them less commercially viable. None of that means Pfizer's berobenatide won't be successful, but it's important to consider this before deciding to buy the company's shares.
Similar risks apply to Pfizer's efforts in oncology and other fields. That's all before we account for the company's upcoming patent cliffs, including that of Eliquis -- one of its best-selling drugs -- by the end of the decade. Can Pfizer overcome these potential challenges? My view is that it is well-positioned to do so, given the breadth of its pipeline across weight management, oncology, and other areas, which gives it multiple opportunities to hit the mark.
Within five years, we could be looking at a transformed lineup of approved drugs that will help replace the company's weakening coronavirus business and the patent cliffs it will soon experience. The stock appears attractive to investors willing to be patient and stay put despite the challenges Pfizer faces.
Dva ředitelé Pfizer nakoupili akcie PFE za celkem 1,96 milionu USD, zatímco SVP a kontrolorka společnosti část prodala. Nákupy přišly po silných výsledcích za 2. čtvrtletí a zvýšení celoročního výhledu.
As Pfizer Inc. (NYSE: PFE) stock gained over 5% this week fueled by its strong second quarter 2026 earnings report, Finbold has observed its increased insider trading .
Two Pfizer directors, Ronald E. Blaylock and Mortimer J. Buckley spent a total of $1,959,190 to purchase PFE shares on August 5, according to data from Secform4, which Finbold analyzed on August 7. Specifically, Blaylock spent $998,821 to buy 39,231 Pfizer shares at an average price of $25.46, hence increasing shares stake to 71,688.
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Buckley bought 37,632 PFE shares for $960,369 at an average price of $25.52, thereby inflating the holdings to 37,632 shares. On the other hand, Danica Jennifer, the company’s Senior Vice President (SVP) and Controller, sold 3,278 Pfizer shares for $83,261 at an average price of $25.4, thus currently holding 28,611 shares.
Pfizer’s insider trading. Source: Secform4 As a result, Pfizer insider trading has resulted in a net purchase of about $1,875,929.
Why are top executives net-buying Pfizer stock? Top executives at Pfizer are net buying PFE shares after the company delivered a strong quarterly earnings report, raised its full-year guidance, and announced billions in new cost cuts. Pfizer announced $15.03 billion in revenue, which beat analysts’ expectations of $14.41 billion.
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Additionally, the company raised its full-year 2026 guidance to a range of $60.5 billion to $62.5 billion, up from $59.5 billion to $62.5 billion. The upward adjustment was fueled by its newly acquired drugs that consist of non-COVID portfolio.
As such, several Wall Street analysts, including Vamil Divan at Guggenheim, have reiterated a Buy rating for Pfizer stock in the next 12 months. As of press time, 20 analysts surveyed by TipRanks have set an average 12-month target for PFE shares at $27.94, signaling a potential 5.96% upside.
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PFE stock price outlook Over the last 30 days, PFE stock price has surged by 8.94%, trading at $26.20 on Friday. Consequently, the company had a market capitalization of approximately $149.3 billion.
PFE stock 30D chart. Source: Finbold The company’s stock price is well positioned to rally further as insider net purchases boosts analysts and investors’ confidence.
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Pfizer ve 2. čtvrtletí zvýšil tržby na 15,03 miliardy USD, meziročně o 2,6 %, a akcie po zveřejnění výsledků mírně posílily. Firma zároveň ukončila vývoj dvou kandidátů na lék proti obezitě.
SummaryPfizer shares edged higher after Q2 earnings, shrugging off criticism over the discontinuation of two obesity drug candidates, MET-224o and PF-07976016.PFE highlighted Metsera's rapid progress and plans to strategically deploy its remaining $6 billion-$7 billion toward bolt-on opportunities in oncology, IMIDs, and obesity.In Q2, sales of the tafamidis franchise were $1.76 billion, up 10% QoQ.Meanwhile, Abrysvo, an RSV vaccine, generated $208 million in revenue for PFE, up 45.5% from the second quarter of 2025.In this article, I explain why I continue to cover PFE with a 'Strong Buy' rating. seb_ra/iStock via Getty Images
2 days ago, on August 4, Pfizer (PFE) released another strong earnings report.
In Q2, its revenue was $15.03 billion, up 4% quarter-over-quarter and 2.6% YoY.
At the same time, Pfizer's non-GAAP EPS of 77
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Item 1 of 2 A pharmacist holds a bottle of the drug Eliquis, made by Pfizer Pharmaceuticals, at a pharmacy in Provo, Utah, U.S. January 9, 2020. REUTERS/George Frey
[1/2]A pharmacist holds a bottle of the drug Eliquis, made by Pfizer Pharmaceuticals, at a pharmacy in Provo, Utah, U.S. January 9, 2020. REUTERS/George Frey Purchase Licensing Rights, opens new tab
CompaniesAug 4 (Reuters) - Pfizer (PFE.N), opens new tab on Tuesday reported better-than-expected second-quarter results, boosted by strong demand for blood thinner Eliquis, and unveiled plans for an additional $2.5 billion in savings through its ongoing cost-cutting efforts.
Investors look for signs that Pfizer’s big-ticket deals are paying offPfizer said the additional savings, expected to be realized between 2027 and 2029, will build on existing cost-cutting efforts as it seeks to offset declining COVID-related revenue and restore sustainable growth.
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The company is also counting on newer medicines to lessen its dependence on aging blockbuster drugs, while investors are watching for signs that its $10 billion acquisition of Metsera can help establish a meaningful foothold in the fast-growing obesity market.
Pfizer has said it expects to return to stronger growth after 2028.
CEO Albert Bourla struck an optimistic tone, saying the company's "launched and acquired products performed well ... our obesity program is advancing with meaningful momentum."
Revenue from acquired products rose 25% on an operational basis during the quarter.
Eliquis sales rose 19% on an operational basis, driven by higher U.S. net pricing from lower rebates and a favorable channel mix, along with stronger demand across global markets.
Sales of Eliquis, which Pfizer sells with Bristol Myers Squibb (BMY.N), opens new tab, were $2.43 billion in the quarter, above analysts' estimates of $1.93 billion.
Higher sales of Eliquis and cancer therapy Padcev helped offset weaker demand for the company's COVID products.
The U.S. drugmaker now expects annual sales of $60.5 billion to $62.5 billion, up from $59.5 billion to $62.5 billion forecast previously.
It reaffirmed its annual profit forecast to reflect a $650 million impact related to a licensing deal worth up to $10.5 billion with China's Innovent Biologics (1801.HK), opens new tab.
On an adjusted basis, the company reported a profit of 77 cents per share, compared with analysts' estimates of 68 cents per share, according to data compiled by LSEG.
Shares of the drugmaker were flat in premarket trading.
Reporting by Mariam Sunny and Mrinalika Roy in Bengaluru; Editing by Anil D'Silva
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Pfizer ve 2. čtvrtletí překonal odhady a zvýšil spodní hranici celoročního výhledu tržeb na 60,5–62,5 miliardy USD díky silnějším produktům mimo Covid.
Pfizer on Tuesday reported second-quarter results that topped estimates and hiked the low end of its revenue outlook, citing an added $1.5 billion in sales from its non-Covid products.
The company is now expecting full-year revenue to total $60.5 billion to $62.5 billion, which compares to a previous outlook of $59.5 billion to $62.5 billion. That sales range would still be roughly flat or down slightly compared with 2025 revenue of $62.6 billion.
Pfizer said it cut its full-year revenue expectation for its Covid products – the vaccine and antiviral pill Paxlovid – to $4 billion, down from around $5 billion previously.
The pharmaceutical giant reiterated its full-year adjusted profit outlook of between $2.80 and $3 per share.
Here's what the company reported for the second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: 77 cents adjusted vs. 68 cents expectedRevenue: $15.03 billion vs. $14.41 billion expectedPfizer reported revenue of $15.03 billion for the first quarter, up 3% from the same period a year ago. Sales increases for key products, including its blood thinner Eliquis and targeted cancer drug Padcev, helped to counteract struggles in its Covid business.
Eliquis in particular blew past estimates for the quarter, raking in $2.43 billion in sales, up 19%. Analysts were expecting revenue of $2.08 billion, according to StreetAccount.
The company booked a net loss of $248 million, or 4 cents per share, for the period. That compares with net income of $2.91 billion, or 51 cents per share, during the second quarter of 2025.
Excluding certain items, including restructuring charges and costs associated with intangible assets, Pfizer posted earnings per share of 77 cents for the quarter.
The company also announced the second phase of a multi-year initiative to slash costs, which targets around $1.5 billion in savings through 2029. That phase focuses on what the company called product portfolio enhancements, network structure changes and additional operational efficiencies.
The first part of that effort is on track to deliver $1.5 billion in savings by the end of 2027.
Pfizer announced an additional $1 billion in savings from a separate cost-cutting program, which will be achieved from 2027 to 2029. That adds to the previously announced $5.7 billion in cost savings the company will achieve through the program by the end of the year.
The pharmaceutical giant is looking to longer-term investments in its pipeline, including its recent $10 billion acquisition of the obesity biotech Metsera, to counter waning Covid product sales and declines from older drugs. Investors are focused on several crucial data releases from Pfizer this year, including data on a combination regimen that includes its GLP-1 injection and an amylin asset.
Pfizer (PFE - Free Report) came out with quarterly earnings of $0.77 per share, beating the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +13.24%. A quarter ago, it was expected that this drugmaker would post earnings of $0.71 per share when it actually produced earnings of $0.75, delivering a surprise of +5.63%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Pfizer, which belongs to the Zacks Large Cap Pharmaceuticals industry, posted revenues of $15.03 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.04%. This compares to year-ago revenues of $14.65 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Pfizer shares have added about 0.5% since the beginning of the year versus the S&P 500's gain of 11%.
What's Next for Pfizer?While Pfizer has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Pfizer was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.87 on $16.11 billion in revenues for the coming quarter and $2.96 on $61.87 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Large Cap Pharmaceuticals is currently in the bottom 7% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Eli Lilly (LLY - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.
This drugmaker is expected to post quarterly earnings of $6.01 per share in its upcoming report, which represents a year-over-year change of -4.8%. The consensus EPS estimate for the quarter has been revised 2.3% lower over the last 30 days to the current level.
Eli Lilly's revenues are expected to be $20.26 billion, up 30.2% from the year-ago quarter.
Pfizer (NYSE:PFE – Get Free Report) is projected to announce its Q2 2026 results before the market opens on Tuesday, August 4th. Analysts expect the company to announce earnings of $0.68 per share and revenue of $14.3994 billion for the quarter. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. Investors are encouraged to explore the company’s upcoming Q2 2026 earning report page for the latest details on the call scheduled for Tuesday, August 4, 2026 at 10:00 AM ET.
Pfizer (NYSE:PFE – Get Free Report) last released its earnings results on Tuesday, May 5th. The biopharmaceutical company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Pfizer had a return on equity of 19.44% and a net margin of 11.83%.The business had revenue of $14.45 billion during the quarter, compared to analysts’ expectations of $13.84 billion. During the same quarter last year, the firm posted $0.92 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, analysts expect Pfizer to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Pfizer Price Performance Shares of PFE opened at $25.10 on Monday. Pfizer has a 52-week low of $23.11 and a 52-week high of $28.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.94 and a current ratio of 1.25. The business’s 50 day moving average price is $25.04 and its two-hundred day moving average price is $26.16. The firm has a market cap of $143.06 billion, a PE ratio of 19.16 and a beta of 0.34.
Pfizer Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, July 24th will be paid a $0.43 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.9%. Pfizer’s payout ratio is currently 131.30%.
Wall Street Analysts Forecast Growth Several equities research analysts have weighed in on the stock. UBS Group reaffirmed a “neutral” rating and issued a $27.00 price target on shares of Pfizer in a research note on Wednesday, May 27th. Weiss Ratings upgraded Pfizer from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. BMO Capital Markets reduced their price objective on Pfizer from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. JPMorgan Chase & Co. decreased their price objective on Pfizer from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Finally, Guggenheim lowered their target price on Pfizer from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.50.
View Our Latest Stock Report on Pfizer
Key Stories Impacting Pfizer Here are the key news stories impacting Pfizer this week:
Positive Sentiment: Positive Phase 3 vitiligo data: Pfizer reported that oral LITFULO significantly improved skin repigmentation in two late-stage trials for nonsegmental vitiligo. The results support planned regulatory filings and could create a new growth opportunity for the company. Reuters LITFULO vitiligo trial article Positive Sentiment: Updated COVID vaccine approved in Europe: The European Commission authorized Pfizer and BioNTech’s XFG-adapted vaccine for the 2026–2027 season across the European Union. The approval enables production and advance supply, although seasonal COVID demand remains difficult to forecast. EU approval article Positive Sentiment: Value appeal and estimates: Investor commentary highlights Pfizer’s roughly 6.8% dividend yield and inexpensive earnings valuation, while Erste Group reportedly raised its FY2027 EPS estimate. These factors may attract income and value-focused investors. Pfizer valuation article Neutral Sentiment: Upcoming earnings focus: Analysts are watching Pfizer’s second-quarter revenue, adjusted earnings, product sales and full-year outlook. The available reports are previews rather than an announcement of actual quarterly results, so earnings remain a near-term catalyst. Pfizer Q2 earnings preview Negative Sentiment: Growth concerns remain: Pfizer’s valuation reflects investor skepticism about post-pandemic revenue, a comparatively modest growth profile and execution risks surrounding its pipeline. Its obesity-drug candidate is promising but still late-stage and faces powerful competition from Eli Lilly and Novo Nordisk, limiting any immediate earnings benefit. Pfizer earnings preview and valuation article Institutional Investors Weigh In On Pfizer Several institutional investors and hedge funds have recently added to or reduced their stakes in PFE. Darwin Wealth Management LLC bought a new stake in shares of Pfizer during the 2nd quarter worth $32,000. IFC & Insurance Marketing Inc. purchased a new position in Pfizer during the 4th quarter valued at about $34,000. Birchwood Financial Partners Inc. purchased a new position in Pfizer during the fourth quarter valued at approximately $38,000. WFA of San Diego LLC purchased a new position in shares of Pfizer during the 2nd quarter valued at $40,000. Finally, Atlas Capital Advisors Inc. bought a new position in Pfizer in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.
About Pfizer (Get Free Report)
Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.
Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.
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Pfizer uvedl, že jeho perorální lék Litfulo ve dvou pozdních studiích významně obnovil pigmentaci kůže u pacientů s nonsegmentálním vitiligem. Firma chce data předložit regulátorům k získání schválení.
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 30 (Reuters) - Pfizer (PFE.N), opens new tab said on Thursday its oral drug helped restore skin color in patients with a common form of vitiligo in two late-stage trials, paving the way for regulatory submissions seeking approval in the autoimmune skin disease.
Here are the details:
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The U.S. drugmaker was testing Litfulo in patients with nonsegmental vitiligo, the most common type of the disease, which causes patches of skin to lose pigment.
Pfizer said both studies showed significantly more patients treated with the drug achieved at least a 75% improvement in facial repigmentation and at least a 50% improvement in total-body repigmentation after 52 weeks compared with those given placebo.
"Litfulo could become a new oral systemic treatment option for adults living with NSV, significantly improving and potentially maintaining facial and total body repigmentation," Michael Vincent, Pfizer's chief inflammation and immunology officer, said in a statement.
The trials, which enrolled a combined 2,174 patients across 50 mg and 100 mg once-daily doses, were the largest late-stage programs to evaluate an oral treatment for nonsegmental vitiligo, the company said.
The drug works by blocking specific proteins inside immune cells, called JAK3 and TEC family kinases, which helps stop the immune system from attacking the pigment-producing cells in the skin.
Litfulo is already approved in several countries, including the United States, for severe alopecia areata, an autoimmune disorder that causes hair loss.
Pfizer said the drug's safety profile in vitiligo patients was consistent with that seen in studies of alopecia areata, with no new safety signals identified.
Pfizer plans to submit the data to health regulators globally to seek approval for the treatment in adults with nonsegmental vitiligo.
Reporting by Kamal Choudhury in Bengaluru; Editing by Vijay Kishore
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