Pfizer (PFE) Closes 2025 on Solid Note, Returns $9.8B to Shareholders

Core Insights - Pfizer Inc. reported Q4 2025 results with revenue of $17.56 billion, a slight decline of 1.1% year-over-year, but exceeded expectations on revenue and adjusted diluted EPS, returning $9.8 billion to shareholders through dividends [2][5]. Group 1: Financial Performance - Full-year 2025 revenue was $62.6 billion, down from $63.6 billion the previous year, reflecting a 2% operational decline; however, excluding COVID-19 products, operational revenue grew by 6% [5]. - Adjusted gross margins expanded to 76%, aligning with company expectations [5]. Group 2: Strategic Focus - The company aims to derive more value from recent acquisitions, advance its obesity pipeline, and expand the use of artificial intelligence across its operations [3]. - Key acquisitions mentioned include Seagen, Metsera, and Biohaven, which are expected to reshape Pfizer's business [3]. Group 3: Product Development - Progress in Pfizer's obesity program was highlighted, particularly encouraging results from the VESPER-3 study of its next-generation injectable GLP-1 receptor agonist, previously known as MET-097i [4].