The drug giant updated its revenue guidance for 2025, saying it now expects $62 billion in revenue for the year
Pfizer revised its revenue expectations for 2025 and detailed its guidance for 2026.
Pfizer said revenue should come in at the lower end of its guidance this year, and it expects less revenue in 2026 than in 2025, as the drugmaker's efforts to remake its business continue to play out.
The company's stock (PFE) was down about 5% on Tuesday morning.
Pfizer revised its revenue guidance for 2025 on Tuesday, saying it now expects $62.0 billion in revenue for the year due to lower-than-expected sales of its COVID-19 products and a $1.5 billion impact from certain therapies losing patent protection. Back in November, the company reaffirmed revenue in the range of $61.0 billion and $64.0 billion for 2025.
As for 2026, it expects revenue in the range of $59.5 billion to $62.5 billion, compared with a FactSet estimate of $61.6 billion. The pharmaceutical giant also said it anticipates adjusted EPS in 2026 in the range of $2.80 to $3.00. The FactSet estimate is for $3.05.
Pfizer's stock hit an all-time high of $59.05 on Dec. 31, 2021 - during the pandemic - but its shares struggled against a rapidly changing world that largely stopped relying on its COVID vaccine and treatment.
Over the last two years, the drugmaker announced a cost-cutting initiative, replaced several senior executives, streamlined its business into four therapeutics categories, fought off an activist investor and pursued deals in two of the most popular areas of drug development: PD-1xVEGF bispecifics, and obesity.
Pfizer is working with 3SBio on a PD-1xVEGF bispecific as part of an exclusive licensing deal announced in May, and it ended up closing its acquisition of the obesity drug developer Metsera last month after a contested bid by Novo Nordisk (NVO).
Pfizer's shares have been flat since January.
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