Pfizer tops Wall Street estimates, reaffirms outlook as newer products show growth

Pfizer on Tuesday posted first-quarter earnings and income that topped estimates and reaffirmed its 2026 outlook, as its just lately launched and purchased products confirmed growth.

Older top-selling medicine, together with its blood thinner Eliquis, additionally helped drive demand within the quarter and offset the decline in income from Pfizer’s Covid vaccine and antiviral capsule to deal with the virus, Paxlovid.

This is what the corporate reported for the primary quarter in contrast with what Wall Street was anticipating, based mostly on a survey of analysts by LSEG: 

• Earnings per share: 75 cents adjusted vs. 72 cents anticipated
• Income: $14.45 billion vs. $13.79 billion anticipated

The pharmaceutical large is trying to longer-term investments in its pipeline, together with its current $10 billion acquisition of the weight problems biotech Metsera, to counter waning Covid product gross sales and declines from older medicine. Pfizer is concentrated on a number of essential knowledge releases this yr, together with late-stage trial outcomes on an experimental focused drug in lung most cancers. 

Pfizer reported income of $14.45 billion for the primary quarter, up 5% from the identical interval a yr in the past. Gross sales will increase for key products helped to counteract struggles in its Covid enterprise.

The corporate booked web revenue of $2.69 billion, or 47 cents per share. That compares with web revenue of $2.97 billion, or 52 cents per share, throughout the identical interval a yr in the past.

Excluding sure objects, together with restructuring costs and prices related to intangible property, Pfizer posted earnings per share of 75 cents for the quarter.

Pfizer reaffirmed its 2026 outlook, anticipating full-year adjusted revenue to come back in between $2.80 and $3 per share, and income to whole $59.5 billion to $62.5 billion. That gross sales vary can be roughly flat or down barely in contrast with 2025 income of $62.6 billion.

Pfizer beforehand stated the lackluster income outlook is available in half from declining gross sales of its Covid vaccine and Paxlovid, which it expects to fall by about $1.5 billion yr over yr to $5 billion. 

The corporate additionally pointed to a different roughly $1.5 billion year-over-year anticipated drop in gross sales on account of sure products shedding their market exclusivity. Some blockbuster medicine, such as the corporate’s pneumonia vaccine Prevnar, are going through extra competitors from rivals.

The outcomes come per week after Pfizer entered into settlement agreements with three generic drug producers that successfully lengthen the corporate’s U.S. patent safety for Vyndamax till June 1, 2031. That is a prescription drugs that helps deal with a uncommon, critical coronary heart situation.

Gross sales of Pfizer’s Covid shot and Paxlovid each got here in properly below analysts’ estimates, in accordance with StreetAccount.

The vaccine raked in $232 million in income for the quarter, down 59% from the identical interval a yr in the past, whereas Paxlovid gross sales fell 62% to $186 million. Analysts had been anticipating gross sales of $445.9 million and $286.2 million, respectively, for the 2 products.

In the meantime, Eliquis generated $2.17 billion in gross sales for the quarter, up 13% from the year-ago interval. Analysts anticipated $1.96 billion in income, in accordance with StreetAccount estimates. 

Different older medicine and a few newer products additionally beat estimates for the quarter. 

Focused most cancers drug Padcev booked $591 million in income, up 39% from the identical interval a yr in the past and surpassing the $542.3 million that analysts had been anticipating. 

Pfizer’s vaccine in opposition to respiratory syncytial virus, a extra just lately launched product, booked $180 million in gross sales for the primary quarter. That is up 37% from the year-earlier interval and is available in greater than the $145.1 million that analysts had been anticipating. 

Gross sales of just lately launched and purchased products grew 22% operationally throughout the quarter, Pfizer stated.