Core Viewpoint - Pfizer has lowered its FY2026 profit forecast due to declining Covid vaccine sales and impending patent expirations on key products, projecting profits between $2.80 and $3 per share, below analyst expectations of $3.05 per share [1] Financial Projections - The company anticipates FY2026 revenue to be between $59.5 billion and $62.5 billion, compared to analyst estimates of $61.59 billion [2] - Pfizer's FY2025 profit forecast has also been reduced to $62 billion, which is at the lower end of its previous guidance of $61 billion to $64 billion [6] Research and Development - R&D expenses are expected to range from $10.5 billion to $11.5 billion as Pfizer focuses on advancing its newly licensed PD-1xVEGF oncology asset and various clinical programs from the Metsera acquisition [3] Impact of Covid Vaccine Sales - Projected profits from Covid vaccine sales are expected to decline by $1.5 billion in 2026 compared to 2025 forecasts, reflecting a broader trend affecting other pharmaceutical companies [4] Patent Expirations - Pfizer estimates a loss of $1.5 billion in profit due to the expiration of market exclusivity for certain products, including the JAK inhibitor Xeljanz, blood thinner Eliquis, and cancer drug Ibrance [5] Cost-Cutting Measures - The company has initiated a cost-cutting strategy aimed at reducing spending by $7.7 billion by 2027, which includes cutting 230 jobs in Switzerland as part of a broader operational downsizing [7] Strategic Focus - Pfizer is targeting the weight loss market while implementing stringent cost-cutting measures and pursuing pipeline-enhancing deals [8]