Prime Highlights
- Pfizer expects stronger growth after 2028, backed by obesity drugs, Vyndamax patent protection and vaccine-related gains in Europe.
- First-quarter revenue and profit beat estimates, helped by Eliquis and newer acquired products.
Key Facts
- Pfizer is a leading global pharmaceutical company based in New York.
- First-quarter sales rose to $14.45 billion, above analyst expectations of $13.79 billion.
Background
Pfizer said it expects to return to stronger growth after 2028, supported by obesity drugs in development, an extended patent runway for heart drug Vyndamax, and a favorable European court ruling linked to its COVID-19 vaccine business. The company shared the outlook after reporting first-quarter revenue and profit above market expectations.
The drugmaker posted first-quarter sales of $14.45 billion, beating analyst estimates of $13.79 billion. Adjusted profit came in at 75 cents per share, also ahead of expectations. Strong demand for blood thinner Eliquis and recently acquired products helped results, even as COVID-related sales continued to decline.
Pfizer said sales of newly launched and acquired medicines rose 22% year-on-year in the quarter. Growth came from products such as cancer drug Padcev and migraine treatment Nurtec ODT. Analysts said the newer portfolio is helping offset weakness in the company’s COVID franchise.
The company recently settled patent disputes with three generic drugmakers over Vyndamax, delaying lower-cost copies until mid-2031. Management said the agreement could significantly improve Pfizer’s growth profile after 2028 and supports confidence in delivering high-single-digit annual growth from 2029 over five years.
Pfizer is also increasing its focus on obesity treatments following its Metsera acquisition. Management said the company has a strong commercial reach with doctors who are likely to prescribe weight-loss drugs and sees opportunities in emerging markets such as Brazil and Mexico.
Despite the earnings beat, Pfizer kept its full-year forecast unchanged at $59.5 billion to $62.5 billion in revenue and adjusted earnings of $2.80 to $3.00 per share.
