Pfizer Lifts 2026 Revenue Floor to $60.5 Billion as Q2 Sales Beat on Non-Covid Drugs
Updated
Updated · CNBC · Aug 4
Pfizer Lifts 2026 Revenue Floor to $60.5 Billion as Q2 Sales Beat on Non-Covid Drugs
3 articles · Updated · CNBC · Aug 4
Summary
$15.03 billion in second-quarter revenue beat the $14.41 billion consensus, while adjusted earnings of 77 cents a share topped estimates of 68 cents.
Pfizer raised the low end of its full-year revenue outlook to $60.5 billion from $59.5 billion, citing a $1.5 billion boost from non-Covid products led by Eliquis and newer medicines.
Covid products are now expected to bring in $4 billion this year, down from about $5 billion, as low infection levels curb Paxlovid use and most Comirnaty sales are pushed toward year-end.
A $248 million net loss reflected a $4.3 billion non-cash impairment tied mainly to weaker expectations for sigvotatug vedotin and the removal of Oxbryta revenue projections after FDA talks.
Pfizer also outlined $2.5 billion in additional savings from 2027 to 2029, extending its push to offset fading Covid sales with cost cuts and pipeline investments.
Can aggressive cost cuts and a $10 billion gamble on weight-loss treatments truly mask the devastating financial blow of Pfizer's recent clinical failures?
After quietly absorbing catastrophic losses from withdrawn drugs, will Pfizer's high-stakes bet on the booming obesity market pay off or backfire completely?