Key Takeaways MRK faces major headwinds as Keytruda, its top seller, nears the loss of exclusivity in 2028. Gardasil sales dropped 40% in Q1 2025 due to weak China demand, despite strength in other regions. MRK expects IRA's Medicare drug pricing to impact Januvia in 2026 and Keytruda starting in 2028.Merck (MRK) is expected to face several hurdles over the next few years that could affect its long-term growth trajectory, starting with the anticipated loss of exclusivity of its blockbuster PD-L1 inhibitor ...

Key Takeaways JNJ expects 2025 to be a catalyst year, with accelerating growth in the second half of the decade. PFE faces declining COVID revenues and upcoming patent expirations for several key drugs. JNJ forecasts 5-7% annual growth in Innovative Medicine from 2025 to 2030Johnson & Johnson (JNJ) and Pfizer (PFE) rank among the world’s largest pharmaceutical companies, each with broad and diversified healthcare portfolios. J&J operates primarily through its pharmaceuticals and medical devices segments. ...

Core Viewpoint - Pfizer (PFE) is currently trading above its 50-day simple moving average (SMA), indicating a short-term bullish trend and presenting an attractive investment opportunity from a technical perspective [1][10]. Financial Performance - Pfizer's COVID-19 product sales are projected to decline significantly, with revenues expected to drop to approximately $11 billion in 2024 from $56.7 billion in 2022, and similar figures anticipated for 2025 [4]. - Despite the decline in COVID-related sales, Pfizer's non-COVID operational revenues improved in 2024, driven by key products such as Vyndaqel, Padcev, and Eliquis, as well as new launches and acquisitions [5]. - Pfizer expects a revenue compound annual growth rate (CAGR) of approximately 6% from 2025 to 2030, supported by its diversified drug portfolio [6]. Product Pipeline and Market Position - Pfizer has strengthened its position in oncology through the acquisition of Seagen, enhancing its portfolio with several successful oncology drugs and a robust clinical pipeline [7][8]. - The company is advancing several late-stage oncology candidates and expects to have eight or more blockbuster oncology medicines by 2030 [8]. Challenges and Strategic Initiatives - Pfizer anticipates a moderate negative impact on revenues due to the loss of exclusivity for several key products between 2026 and 2030 [12]. - The company expects an unfavorable impact of approximately $1 billion from the redesign of Medicare Part D under the Inflation Reduction Act [13]. - Pfizer is implementing cost-cutting measures and internal restructuring, aiming for savings of $7.7 billion by the end of 2027, which should support profit growth [24]. Valuation and Investment Outlook - Pfizer's stock is trading below its 5-year average price-to-earnings (P/E) ratio, currently at 8.23 compared to the industry average of 15.05, indicating potential value for investors [18]. - The Zacks Consensus Estimate for earnings remains unchanged at $3.06 per share for 2025 and $3.09 for 2026, suggesting stability in earnings expectations [21]. - With a dividend yield of around 7%, Pfizer presents an attractive option for income investors, alongside its potential for capital appreciation [24][25].

When it comes to your hard-earned money, you have a lot of choices about where to spend it. If your physician prescribes a new branded drug, though, you and your insurance company have few options.Patent-protected exclusivity is the reason pharmaceutical stocks are known for delivering reliably growing dividend payments. Unfortunately, some of Pfizer's (PFE 1.08%) most important patents are expiring soon.Shares of Pfizer have been beaten down about 60% from their previous peak in 2021. The price is way down ...

Key Takeaways PFE expects steady 2025 COVID sales but anticipates major LOE losses and IRA headwinds in the future. Medicare Part D changes may cut into sales of key PFE drugs like Vyndaqel, Ibrance, Xtandi and Xeljanz. PFE trades at 7.82x forward earnings, below industry average, with EPS estimates rising for 2025 and 2026.Pfizer (PFE) is likely to encounter several headwinds in the next couple of years that can hurt its sales and profits, the first being declining sales of COVID products, Comirnaty and ...

Industry Overview - The Zacks Large Cap Pharmaceuticals industry includes major global companies developing multi-million-dollar drugs across various therapeutic areas such as neuroscience, cardiovascular, metabolism, rare diseases, immunology, and oncology [4] - Continuous innovation and significant investment in R&D are defining characteristics of these companies, with regular mergers and acquisitions being common [4][5] Current Market Conditions - The industry has shown resilience amid broader macroeconomic uncertainties, with a year-to-date performance increase of 3.9%, outperforming the Zacks Medical Sector's decline of 1.5% and the S&P 500's rise of 1.7% [14] - The current forward 12-month price-to-earnings (P/E) ratio for the industry is 15.65X, lower than the S&P 500's 21.89X and the Zacks Medical Sector's 19.31X, indicating potential value [17] Key Players and Performance - **Bayer**: Key drugs like Nubeqa and Kerendia are driving growth, with plans for new drug launches in 2025. The stock has risen 61.9% year-to-date, with 2025 EPS estimates increasing from $1.19 to $1.25 [20][22] - **Pfizer**: Strengthened its oncology position with the acquisition of Seagen. Despite challenges from declining COVID-19 product sales and patent expirations, non-COVID operational revenues are improving. The stock has lost 4.2% year-to-date, but 2025 EPS estimates have risen from $2.98 to $3.06 [25][26][28] - **Novartis**: Following the separation of Sandoz, it has a strong portfolio with drugs like Kisqali and Leqvio. The stock has risen 25.6% year-to-date, with 2025 EPS estimates increasing from $8.46 to $8.74 [31][32] - **AbbVie**: Successfully transitioned from the loss of exclusivity of Humira with new drugs like Skyrizi and Rinvoq. The stock has risen 9.5% year-to-date, with stable 2025 EPS estimates at $12.28 [35][37] - **Sanofi**: Dupixent is a key growth driver, supported by a strong vaccine portfolio. The stock has risen 6.3% year-to-date, with 2025 EPS estimates increasing from $4.43 to $4.56 [40][42] M&A and Innovation Trends - The industry is characterized by aggressive M&A activity, with large pharmaceutical companies acquiring innovative small and mid-cap biotech firms to enhance their pipelines [6][7] - Recent notable M&A activity includes Sanofi's offer to acquire Blueprint Medicines for approximately $9.5 billion, indicating continued robust M&A activity expected throughout the year [8]

Key Takeaways PFE's non-COVID revenues are rising, fueled by new drugs, key in-line products and Seagen acquisition. The Seagen deal added four ADCs to PFE's oncology portfolio, boosting revenues in 2024 and early 2025. PFE shares trade at a forward P/E of 7.97, well below the industry average and its 5-year historical mean.With the end of the pandemic, sales of Pfizer’s (PFE) COVID products, Comirnaty and Paxlovid, have declined. Though COVID revenues are declining, Pfizer’s non-COVID operational revenue ...

Key Takeaways PFE stock is down 10.7% YTD, underperforming its industry, sector, and the broader market. COVID product sales are falling, but oncology drugs and Seagen assets are boosting top-line growth. PFE trades well below peers in terms of valuation and offers a 7.4% dividend yield with rising EPS estimates.Pfizer’s (PFE) stock has declined 10.7% so far this year compared with a decrease of 7.7% for the industry. The stock has also underperformed the sector and the S&P 500, as seen in the chart below ...

Pfizer (PFE) FY Conference June 09, 2025 08:00 AM ET Speaker0 Great. Good morning, everyone, and welcome to our forty sixth Annual Global Healthcare Conference. My name is Assad Heather. I'm The U. S. Pharma Analyst here at Goldman Sachs. And we are very privileged to have Albert Bula with us to kick up this conference. Albert's the CEO of Pfizer. Albert, thank you for being with us. Speaker1 Great pleasure. Speaker0 Albert, we have about thirty five minutes, so I wanna start with a big picture question for ...

Core Viewpoint - Pfizer's stock has declined approximately 25% from its 52-week high, primarily due to pipeline setbacks and management concerns regarding R&D spending and acquisitions [1][2][11] Valuation - Pfizer's current price-to-sales (P/S) ratio is 2.1, compared to 3.0 for the S&P 500, indicating it is slightly undervalued [8] - The price-to-free cash flow (P/FCF) ratio stands at 9.5 versus 20.5 for the S&P 500, and the price-to-earnings (P/E) ratio is 16.8 compared to 26.4 for the benchmark [8] Revenue Performance - Pfizer's revenues have seen a marginal decline over recent years, with an average shrinkage of 9.0% over the last three years, while the S&P 500 experienced a growth of 5.5% [8] - However, revenues grew by 11.7% from $60 billion to $64 billion in the last 12 months, outperforming the S&P 500's growth of 5.5% [8] Profitability - Pfizer's profit margins are around the median level for companies in the Trefis coverage universe, with an operating margin of 24.3% compared to 13.2% for the S&P 500 [8] Financial Stability - The company's balance sheet is considered weak, with a debt figure of $61 billion and a poor debt-to-equity ratio of 46.2% compared to 19.9% for the S&P 500 [13] - Cash and cash equivalents amount to $17 billion, yielding a cash-to-assets ratio of 8.3% versus 13.8% for the S&P 500 [13] Downturn Resilience - Pfizer's stock has historically underperformed the S&P 500 during market downturns, with a peak-to-trough decline of 57.3% from a high of $61.25 to $26.13 [14][15] - The stock has not yet recovered to its pre-crisis high, currently trading around $23 [14] Future Outlook - Despite current challenges, Pfizer has a robust pipeline, particularly in oncology, with potential blockbuster drugs that could enhance future revenues [12] - The acquisition of Seagen is beginning to positively impact sales and earnings, although it has not fully offset the revenue loss from COVID-19 products [10][12]