Pfizer Inc. (NYSE: PFE) reported its third‑quarter 2026 financial results, generating $16.6 billion in revenue, flat year‑over‑year but reflecting 7 % operational growth excluding COVID‑19 products, as sales from Launched and Acquired Products surged 32 %. Alongside the results, Pfizer raised its full‑year 2026 guidance for both revenue and adjusted diluted EPS and announced the appointment of Cecile Guegan as Chief Financial Officer.
$16.583 billion – down $71 million YoY (virtually flat); +7 % excluding Comirnaty and Paxlovid
Launched & Acquired Products
Sales surged 32 %
First Nine Months Revenue
$46.067 billion, +2 % YoY
FY 2026 Revenue Guidance
Raised by $1.5 billion to $62.0–$64.0 billion (previously $60.5–$62.5 billion)
FY 2026 Adjusted Diluted EPS Guidance
Raised (specific figures not disclosed)
Leadership
Cecile Guegan appointed Chief Financial Officer
Therapeutic Area Performance – Q3 2026
Therapeutic Area
Q3 Sales
YoY Change
Notes
Oncology
$4.327 billion
+10 %
–
Specialty Care
$3.349 billion
+7 %
–
Primary Care
$6.971 billion
−9 %
Dragged primarily by COVID‑19 products and the Prevnar pneumococcal vaccine franchise
Collaborative Revenues
$2.851 billion
+24 %
–
Key Product Momentum – New Launches Drive Growth
Product
Q3 Sales
YoY
First Nine Months
Growth Drivers
Eliquis (apixaban)
$2.523 billion
+25 %
$7.114 billion, +18 %
U.S. net price realization (lower rebates, favorable channel mix); global demand growth
Padcev (enfortumab vedotin)
$720 million
+55 %
$1.979 billion, +38 %
Share gains in first‑line urothelial carcinoma; adoption in new indications
Vyndaqel family (transthyretin amyloidosis)
$1.773 billion
+12 %
$5.136 billion, +8 %
Continued U.S. market expansion; higher international diagnosis rates
Nurtec ODT/Vydura (rimegepant)
$547 million
+33 %
$1.321 billion, +29 %
–
Lorbrena (lorlatinib)
$387 million
+43 %
$1.046 billion, +38 %
Expanding share in first‑line ALK‑positive lung cancer in the U.S., China and other international markets
R&D Pipeline Terminations
PF‑07868489 (PAH): Pfizer terminated a Phase II study of this BMP9 antagonist for pulmonary arterial hypertension on business grounds; a Phase I/II trial launched in 2023, and a Phase II open‑label extension study was initiated in 2025.
PF‑06835375 (ITP/Lupus): A Phase II trial in primary immune thrombocytopenia (ITP) was ended early on business grounds; the Q3 pipeline update removed both the ITP program and a Phase I evaluation in lupus.
Metsera‑Acquired Obesity Assets: Pfizer disclosed termination of a Phase I trial combining the GIPR agonist PF‑08654696 with the GLP‑1 receptor agonist PF‑08653944. The GLP‑1 candidate continues to be evaluated in other settings, but the terminated Phase I was the only active study for the GIPR agonist.
Broader Pruning:Four other Phase I programs were also culled, including two candidates targeted at obesity and chronic weight management.
Market Impact & Outlook
Guidance Raise Signals Confidence: Lifting full‑year revenue guidance by $1.5 billion to $62.0–$64.0 billion — alongside a higher adjusted EPS outlook — reflects management confidence in the post‑COVID growth engine despite flat headline revenue.
Portfolio Transformation: With Launched and Acquired Products up 32 % and five growth products delivering double‑digit to >50 % gains, Pfizer’s new‑launch cohort is now clearly offsetting Comirnaty/Paxlovid decay and Prevnar softness.
Disciplined Pipeline Pruning: The terminations across PAH, ITP, lupus, and obesity programs — including one of the Metsera‑acquired assets — illustrate ongoing portfolio prioritization and capital reallocation toward higher‑conviction programs.
CFO Transition: The appointment of Cecile Guegan as Chief Financial Officer adds a leadership change to an already consequential earnings report (transition details not disclosed).
Forward‑Looking Statements This brief contains forward‑looking statements regarding Pfizer’s full‑year 2026 revenue and adjusted EPS guidance, product growth trends, pipeline development decisions, and leadership transition. Actual results may differ materially due to risks including market conditions, competitive dynamics, patent expirations, regulatory developments, and clinical trial outcomes.-Fineline Info & Tech
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