Pfizer Raises Forecast on Momentum With New Products — Update

By Kelly Cloonan

Pfizer boosted its guidance for the year, as momentum in new products helped it offset declining sales for its Covid-19 vaccine and treatments.

The New York company said Tuesday that sales for its recently launched and acquired products--which include cancer treatments Padcev and Lorbrena--gained 32% in the latest quarter. Higher sales for other products, like blood thinner Eliquis and heart-disease treatment Vyndaqel, also boosted the company's top line.

Sales of Covid products like Paxlovid and Comirnaty, meanwhile, continued to slide.

In the wake of the pandemic, Pfizer has been working to develop new medicines and buy other treatments, including weight-loss drugs, as it contends with plummeting demand for its Covid products.

Given the traction it is seeing with the new products, the company said it now projects sales of $62 billion to $64 billion this year, up from a prior outlook of $60.5 billion to $62.5 billion. It now expects adjusted earnings per share of $2.95 to $3.05, compared with a prior range of $2.80 to $3.

Analysts polled by FactSet expect full-year adjusted earnings of $2.96 a share on sales of $62.2 billion.

"With a robust slate of expected catalysts ahead, I believe we're well positioned to deliver meaningful new medicines for patients and lasting value in the years ahead," Chief Executive Albert Bourla said.

In the third quarter, Pfizer's sales were roughly flat on a year-over-year basis at $16.58 billion, but topped Wall Street's estimate of $15.85 billion, according to FactSet.

Pfizer's third-quarter profit came in at $3.24 billion, or 56 cents a share, compared with $3.54 billion, or 62 cents a share, a year earlier.

Adjusted earnings per share were 87 cents, compared with analyst estimates of 74 cents, according to FactSet.

Separately on Tuesday the company named Cecile Guegan as chief financial officer, a role she has held on an interim basis since August. Guegan's appointment is set to take effect Nov. 1, and comes after the company's former finance chief David Denton left the role to take on the same post at Nike.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

November 03, 2026 08:18 ET (13:18 GMT)