Pfizer falls on disappointing guidance

Financial Guidance - Pfizer projects 2026 sales between $595 billion and $625 billion, roughly in line with street expectations but flat compared to the expected $62 billion for 2025 [2] - The company's profit guidance came in slightly below street expectations, at $280 to $300 per share [2] Revenue Challenges - Pfizer anticipates a $15 billion decrease in revenue from COVID products in 2026 compared to 2025 [3] - An additional $15 billion revenue hit is expected from upcoming patent expirations of older drugs [3] Mitigation Strategies - Analysts suggest the guidance reflects costs tied to recent acquisitions, including the obesity biotech Mitsera [4] - Pfizer is targeting more than $7 billion in cost savings by 2027 to partially offset revenue declines [4] Market Perception - The market did not appreciate Pfizer's 2026 guidance [1] - COVID weakness and deal dilution are still impacting Pfizer's performance [5]