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Pfizer Signals Lower 2026 Revenue Amidst Write-Down
3 Feb
Summary
- Pfizer reported a quarterly loss due to a $4.4 billion asset impairment.
- The company anticipates approximately 20 key pivotal study starts in 2026.
- Projected 2026 revenues are between $59.5 to $62.5 billion, below last year.
Pfizer reported a quarterly loss of $1.6 billion, attributed in part to a significant $4.4 billion asset impairment stemming from revised development plans and commercial forecasts. This financial news led to a drop in the company's stock value.
The drugmaker's outlook for 2026 projects revenues between $59.5 and $62.5 billion, a slight decrease from the $62.6 billion achieved last year. This forecast also accounts for an anticipated $1.5 billion revenue reduction due to the introduction of generic products.
Despite the revenue dip, Pfizer's Chief Executive Albert Bourla emphasized a "foundation for future growth" in 2025, with 2026 poised to be "rich in key catalysts." The company anticipates approximately 20 pivotal study starts in 2026, including a focus on "ultra-long-acting obesity assets" acquired through recent acquisitions.
Pfizer has confirmed it does not plan share repurchases in 2026, prioritizing debt reduction to fund its substantial research and development initiatives, which are expected to range from $10.5 to $11.5 billion in 2026. The company anticipates first government approvals for its anti-obesity products in 2028.
