The upbeat results come as Pfizer navigates falling demand for its COVID-19 products and faces patent expirations on several of its older drugs. Pfizer has already warned of challenges it sees over the next few years and has said that it does not expect to return to revenue growth until 2029. The company is banking on developing new blockbuster medicines, including obesity drugs acquired through recent deals, to help drive that recovery.
The drugmaker last year shelled out $10 billion to acquire obesity drug developer, Metsera, emerging victorious from a fierce bidding war with Novo Nordisk and securing a foothold in the booming weight-loss drug market.
“2026 will be an important year rich in key catalysts, including our expectation for approximately 20 key pivotal study starts,” Chief Executive Officer, Albert Bourla said. The company is targeting a series of potential obesity approvals in 2028. For the reported quarter, the company saw sales rise to $17.56 billion, partly helped by robust demand for its blood thinner Eliquis and RSV vaccine Abrysvo. Analysts were expecting $16.95 billion in sales, according to data compiled by LSEG.
–Reuters–
