Pfizer Targets Long-Term Oncology Growth Amid Competitive Pressure

Core Insights - Pfizer is a leading player in the oncology market with a diverse portfolio of approved cancer medicines and a strong pipeline focused on various modalities [1][9] Oncology Sales Performance - Oncology sales account for approximately 27% of Pfizer's total revenues, with an 8% growth in 2025 driven by key drugs such as Xtandi, Lorbrena, Braftovi-Mektovi combination, and Padcev [2][11] - Xtandi generated alliance revenues of $2.19 billion in 2025, up 8% year over year, while Lorbrena sales increased by 40% to $1.02 billion [3] - Padcev sales rose 22% to $1.94 billion, supported by strong demand trends, while Ibrance revenues declined by 6% to $4.1 billion [4][11] Pipeline and Future Growth - Pfizer is investing in Padcev, which has received FDA approval for a combination treatment with Merck's Keytruda for muscle-invasive bladder cancer, potentially expanding its patient population [5][9] - The oncology biosimilars segment contributed $1.3 billion in sales, reflecting a 26% year-over-year increase [6] - Pfizer's late-stage pipeline includes candidates like atirmociclib and sigvotatug vedotin, with expectations of having eight or more blockbuster oncology medicines by 2030 [7][11] Competitive Landscape - Pfizer competes with major players in the oncology space, including AstraZeneca, Merck, Johnson & Johnson, and Bristol-Myers [10] - AstraZeneca's oncology sales rose 14% in 2025, while Merck's Keytruda accounted for over 50% of its pharmaceutical sales, reaching $31.7 billion [12][13] Stock Performance and Valuation - Pfizer's stock has increased by 5.7% over the past year, compared to a 17.3% rise in the industry [18] - The company's shares are trading at a forward price/earnings ratio of 9.28, lower than the industry average of 18.86 and its own 5-year mean of 10.22 [20]