Pfizer Anticipates Slower Growth in 2026 Despite Efforts to Enhance Pipeline and Reduce Costs

Fiscal 2026 Guidance: Pfizer projects adjusted earnings of $2.80-$3.00 per share and sales of $59.5 billion-$62.5 billion for 2026, both below consensus estimates, with anticipated revenue declines from COVID-19 products and loss of exclusivity for certain products.

2025 Performance and Guidance: The company affirmed its fiscal 2025 adjusted earnings guidance of $3.00-$3.15 per share and narrowed sales guidance to around $62 billion, aligning closely with market expectations.

R&D and Cost Management: Pfizer plans to allocate $10.5 to $11.5 billion for R&D in 2026, focusing on key therapeutic areas and ongoing clinical programs, while also managing operational expenses through a Cost Realignment Program.

BioNTech Stake Sale: Pfizer is reportedly selling its remaining stake in BioNTech, aiming for approximately $508 million from the sale of about 4.55 million American depositary receipts, with shares of both companies showing slight movements in premarket trading.