Pfizer raised its full-year 2026 revenue outlook to $62B–$64B and adjusted EPS guidance to $2.95–$3.05 on November 3, 2026. Strong demand for non-Covid drugs, including Eliquis sales of $2.52B and Padcev revenue of $720M, helped offset steep declines in Covid-19 vaccine and Paxlovid sales. Pfizer also permanently appointed Cecile Guegan as CFO.
Full-year 2026 guidance raised
- ▪Pfizer raised its 2026 full-year adjusted earnings guidance to between $2.95 and $3.05 per share, up from $2.80 to $3.00 per share
- ▪Pfizer raised its 2026 full-year revenue forecast on November 3, 2026, to between $62 billion and $64 billion, up from $60.5 billion to $62.5 billion
Third-quarter 2026 financial results
- ▪Pfizer posted third-quarter 2026 net income of $3.24 billion, or 56 cents per share, compared with $3.54 billion, or 62 cents per share, in third-quarter 2025
- ▪Pfizer reported third-quarter 2026 revenue of $16.58 billion, surpassing Wall Street analyst expectations of $15.87 billion
- ▪Pfizer recorded a one-time $650 million charge, or 10 cents per share, in third-quarter 2026 associated with its licensing agreement with Innovent Biologics
- ▪Pfizer reported third-quarter 2026 adjusted earnings per share of 87 cents, exceeding analyst estimates of 73 cents
Pfizer stock performance
- ▪Pfizer shares rallied during the second half of 2026 after struggling in the first half of the year
- ▪Pfizer shares rose less than 1% in early trading on November 3, 2026, reaching a 23% gain year-to-date
Revenue from non-Covid medicines
- ▪Pfizer generated third-quarter 2026 revenues of $1.77 billion for heart drug Vyndaqel and $1.56 billion for pneumococcal vaccine Prevnar
- ▪Pfizer's newly launched and acquired products, including Abrysvo, Prevnar 20, and Lorbrena, achieved 32% operational sales growth in third-quarter 2026
- ▪Pfizer's revenue from non-Covid medicines grew 7% year-over-year during the third quarter of 2026
- ▪Pfizer recorded $2.52 billion in third-quarter 2026 revenue for blood thinner Eliquis, a 25% increase driven by higher U.S. net prices
Oncology portfolio sales
- ▪Pfizer's total oncology drug portfolio generated $4.3 billion in revenue during the third quarter of 2026
- ▪Pfizer recorded third-quarter 2026 revenue of $720 million for bladder cancer drug Padcev, beating Wall Street estimates of $658 million
Declining Covid-19 product sales
- ▪Pfizer's Paxlovid antiviral treatment sales fell 63% year-over-year to $449 million in third-quarter 2026, exceeding analyst expectations of $394.1 million
- ▪Pfizer's third-quarter 2026 revenue from Comirnaty Covid-19 vaccine dropped 29% year-over-year to $808 million, while still topping analyst estimates of $770.4 million
Permanent CFO appointment
- ▪Pfizer announced that interim Chief Financial Officer Cecile Guegan was appointed permanently as CFO
- ▪Cecile Guegan served in finance leadership roles at Pfizer for two decades and had acted as interim CFO since Dave Denton departed for Nike in August 2026
Metsera acquisition
- ▪Pfizer acquired weight-loss biotech startup Metsera in 2025 to develop experimental monthly obesity treatments to compete against Eli Lilly and Novo Nordisk
- ▪Pfizer prevailed over rival Novo Nordisk in a 2025 boardroom battle to acquire weight-loss biotech startup Metsera
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