Summary of Pfizer's 2026 Financial Guidance Call Company Overview - **Company**: Pfizer - **Event**: Analyst and investor call to review full year 2026 financial guidance Key Points Financial Performance and Guidance - Pfizer reaffirmed its full year 2025 adjusted diluted EPS guidance and revised revenue guidance to approximately **$62 billion** for 2025, which is within the previous range [5][16] - For 2026, total revenues are expected to be in the range of **$59.5 billion to $62.5 billion** [17] - COVID-19 product revenues are projected to decline to approximately **$5 billion** in 2026, down from **$6.5 billion** in 2025, reflecting a **40% decline** year-over-year [16][18] - Adjusted diluted EPS for 2026 is anticipated to be in the range of **$2.80 to $3.00** [19] Strategic Initiatives - Pfizer has entered a landmark voluntary agreement with the U.S. Government to lower prescription drug costs, providing clarity on pricing and tariffs [6][35] - The company is focusing on expanding its obesity portfolio, with plans to advance about **15 programs** in 2026, many of which will be in phase 3 studies [7][51] - Pfizer's oncology pipeline remains strong, with recent FDA approvals and ongoing studies expected to enhance its market position [9][10] Cost Management and Efficiency - Pfizer is on track to achieve approximately **$7.2 billion** in total combined net cost savings by the end of 2026, one year ahead of schedule [11][23] - Adjusted SI&A and R&D expenses for 2026 are expected to be in the range of **$23 billion to $25 billion**, with a focus on maintaining productivity and efficiency [20][21] Market Dynamics and Challenges - The company anticipates facing significant headwinds from loss of exclusivity (LOE) for several major brands, with approximately **$17 billion** in revenues impacted by patent expirations expected between 2026 and 2028 [26] - Pfizer is committed to maintaining its dividend while prioritizing investments in business development to ensure long-term growth [85] Future Outlook - Pfizer expects to return to growth by the end of the decade, driven by the maturation of its R&D pipeline and the performance of recently launched products [26][68] - The company is optimistic about the potential for growth in 2029 and 2030, with a focus on maximizing the potential of its pipeline and acquisitions [48][69] Additional Insights - The new organization for global hospital and biosimilars products aims to enhance productivity and streamline operations [25][80] - Pfizer's commitment to vaccines remains strong, despite current market challenges, as they are viewed as essential for public health [59] Conclusion Pfizer's 2026 financial guidance reflects a strategic focus on managing costs, expanding its product portfolio, and navigating the challenges posed by LOEs and market dynamics. The company is positioning itself for future growth while maintaining a commitment to shareholder value through dividends and strategic investments.

此外，辉瑞公司最畅销的血液稀释剂Eliquis的价格下调将于明年生效，此前该药被列入拜登时代的《通 胀削减法案》谈判名单。与此同时，辉瑞的关键药物，如肺炎疫苗Prevnar和心脏病治疗药物Vyndaqel， 正面临来自竞争对手的日益激烈的竞争。 这促使Bourla开始寻求收购机会，以帮助辉瑞公司拓展其药物研发管线。该公司最近在与诺和诺德 (NVO.US)的激烈竞购战中胜出，成功收购了肥胖症药物生产商Metsera。 辉瑞斥资100亿美元收购Metsera，使其在这个快速增长的领域获得了一系列极具潜力的新型肥胖症药 物，而此前辉瑞一直难以打入该领域。然而，Metsera的药物仍处于早期研发阶段，这意味着它们可能 还需要数年时间才能上市。 智通财经APP获悉，辉瑞(PFE.US)预测，随着该公司正努力通过一系列昂贵的收购来更新其热门药物产 品线，明年的销售增长将微乎其微甚至没有增长。辉瑞公司周二在一份声明中表示，预计2026年营收将 在595亿美元至625亿美元之间，与华尔街的预期大致相符。今年销售额预计为620亿美元，与该公司11 月初的指引范围一致。该公司预计明年调整后每股收益将位于2.80美元至3美元之间。 ...

Core Viewpoint - The drugmaker has revised its revenue guidance for 2025, now expecting $62 billion in revenue for the year [1] Summary by Category - **Revenue Guidance** - The company anticipates a revenue of $62 billion for the year 2025 [1]

Market Analysis by covering: Pfizer Inc. Read 's Market Analysis on Investing.com ...

Pfizer expects revenue and earnings to fall in 2026. ...

Pfizer forecast little growth in sales for next year as the drugmaker looks to refresh its pipeline of hit drugs with a series of pricey acquisitions https://t.co/iqTRppXFph ...

Pfizer projected 2026 revenue of $59.5 billion to $62.5 billion and adjusted earnings of $2.80 to $3 a share. Wall Street is forecasting 2026 revenue of $61.6 billion and adjusted earnings of $3.05 a share. ...

(本文来自第一财经) 辉瑞披露，预计2025年营收约为620亿美元。预计2026年营收为595亿美元至625亿美元。预计2026年调 整后EPS为2.80美元至3.00美元。 (本文来自第一财经) 辉瑞披露，预计2025年营收约为620亿美元。预计2026年营收为595亿美元至625亿美元。预计2026年调 整后EPS为2.80美元至3.00美元。 ...

格隆汇12月16日｜辉瑞(PFE.US)美股盘前跌1.6%。消息面上，辉瑞预计2025年营收约620亿美元，此前 预计为610亿至640亿美元。 ...

Group 1 - Health care stocks have outperformed the S&P 500 over the past three months, with an average gain of 11.55%, but Pfizer's shares have declined by 5% since the start of October [3][8] - Other major pharmaceutical companies like Johnson & Johnson, Regeneron Pharmaceuticals, and Eli Lilly have seen significant gains of nearly 14%, 24%, and 25% respectively during the same period [4] - Pfizer's recent acquisition of obesity biotech Metsera for $10 billion has only resulted in a modest 0.23% gain in its stock since the announcement [4] Group 2 - Pfizer is aiming to expand its presence in the weight loss drug market to recover revenue lost from declining demand for mRNA-based COVID-19 vaccines [5][8] - The company has entered into a $2.1 billion licensing agreement with China's YaoPharma to develop a GLP-1 weight loss pill, which is in early-stage development [5][8] - The agreement includes an upfront payment of $150 million to YaoPharma's parent company, Shanghai Fosun Pharmaceutical, and potential milestone payments of up to $1.94 billion based on the drug's approval progress [6][7]