NEW YORK, May 5, 2026 — Leads & Copy — Pfizer Inc. (NYSE: PFE) has released its financial results for the first quarter of 2026, reaffirming its financial guidance for the year.
Chairman and CEO Dr. Albert Bourla noted the company’s strong start to 2026, expressing confidence in navigating this “defining period” for Pfizer. He highlighted the progress of the R&D pipeline, citing positive Phase 3 readouts and encouraging mid-stage results, with particular enthusiasm for developments in oncology and obesity.
CFO and EVP David Denton attributed the first-quarter results to solid commercial performance and a focus on operational efficiency. He was pleased with the 22% year-over-year operational revenue growth from launched and acquired products and reaffirmed the full-year 2026 financial guidance.
First-quarter 2026 revenues reached $14.5 billion, a 2% year-over-year operational growth. Excluding contributions from Comirnaty and Paxlovid, revenues grew 7% operationally. Launched and acquired products saw a 22% operational revenue increase. Reported diluted EPS was $0.47, and adjusted diluted EPS was $0.75.
Pfizer reaffirmed its full-year 2026 financial guidance, including revenues between $59.5 and $62.5 billion and adjusted diluted EPS between $2.80 and $3.00.
Organizational changes were implemented within the Global Biopharmaceuticals Business (Biopharma) to optimize performance, including the transition of certain off-patent branded and generic sterile injectables and biosimilars to a new Hospital and Biosimilars product portfolio and the creation of a new Global Hospital and Biosimilars Division within Biopharma.
First-quarter 2026 revenues totaled $14.5 billion, a 5% increase compared to the prior year, reflecting a 2% operational increase and a favorable impact of foreign exchange. The operational increase was primarily driven by revenues for Padcev, Eliquis, Oncology biosimilars, Nurtec, and other products, offset by a decline in COVID-19 product revenues. Excluding Comirnaty and Paxlovid, revenues grew 7% operationally. Launched and Acquired Products grew 22% operationally.
Operational revenue growth was driven by:
- Padcev: Up 39% globally, driven by market share in urothelial cancer and launch momentum in muscle-invasive bladder cancer.
- Eliquis: Up 8% globally, driven by higher demand.
- Oncology biosimilars: Up 52% globally, driven by favorable net price in the U.S. and supply recovery.
- Nurtec ODT/Vydura: Up 41% globally, driven by strong demand and net price favorability in the U.S., and recent launches in international markets.
- Lorbrena: Up 32% globally, driven by increased patient share in non-small cell lung cancer treatment.
- Vyndaqel family: Up 4% globally, driven by strong demand and improved access in international markets.
- Xeljanz: Up 34% globally, driven by favorable net price in the U.S.
- Abrysvo: Up 31% globally, driven by a lower returns provision in the U.S. and launch uptake in international markets.
Partially offset by lower revenues for:
- Comirnaty: Down 59% globally, driven by a decline in international markets and lower utilization in the U.S.
- Paxlovid: Down 63% globally, driven by lower COVID-19 infections and government purchases.
During the first three months of 2026, Pfizer’s capital allocation included:
- $2.5 billion invested in internal research and development projects.
- Approximately $110 million invested in business development transactions.
- $2.4 billion of cash dividends, or $0.43 per share of common stock.
As of May 5, 2026, Pfizer’s remaining share repurchase authorization is $3.3 billion. Current financial guidance does not anticipate any share repurchases in 2026.
Recent notable developments include:
- Full FDA approval for Braftovi in combination with cetuximab and fluorouracil-based chemotherapy for metastatic colorectal cancer (mCRC) with a BRAF V600E mutation.
- Positive topline progression-free survival (PFS) results from the BREAKWATER trial, evaluating Braftovi in combination with cetuximab and FOLFIRI in patients with previously untreated mCRC with a BRAF V600E mutation.
- Positive topline results from the Phase 3 MagnetisMM-5 study evaluating Elrexfio as monotherapy in adults with relapsed or refractory multiple myeloma (RRMM).
- Positive opinion from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) for Hympavzi to expand the approved indication to include patients 12 years of age and older weighing at least 35 kg with hemophilia A or B with inhibitors.
- FDA acceptance and priority review for the supplemental Biologics License Application (sBLA) for Hympavzi to expand the approved indication to include the treatment of hemophilia A or B patients 6 years and older with inhibitors, and pediatric patients (ages 6 to 11) with hemophilia A or B without inhibitors.
- FDA acceptance for priority review of a sBLA for perioperative Padcev in combination with pembrolizumab or pembrolizumab and berahyaluronidase alfa-pmph as treatment for patients with muscle-invasive bladder cancer (MIBC).
- Positive results from the investigational Phase 3 EV-304 clinical trial for Padcev in combination with pembrolizumab in patients with MIBC eligible for cisplatin-based chemotherapy.
- Positive topline results from the investigational Phase 3 TALAPRO-3 study of Talzenna in combination with Xtandi in people with homologous recombination repair (HRR) gene-mutated metastatic castration-sensitive prostate cancer (mCSPC).
- Positive topline results from the randomized Phase 2 FOURLIGHT-1 study evaluating atirmociclib in combination with fulvestrant in people with hormone receptor (HR)-positive, human epidermal growth factor receptor 2-negative (HER2-) advanced or metastatic breast cancer (MBC).
- Topline results from the Phase 3 VALOR clinical trial of its investigational 6-valent OspA-based Lyme disease vaccine candidate PF-07307405.
- Positive topline results from a Phase 2 study investigating tilrekimig (PF-07275315) in adults with moderate to severe atopic dermatitis.
- Strategic commercialization collaboration between Pfizer and Hangzhou Sciwind Biosciences Co., Ltd. (Sciwind Biosciences) in which Pfizer obtained exclusive commercialization rights for Sciwind Biosciences’ glucagon-like peptide 1 (GLP-1) receptor agonist ecnoglutide in Mainland China.
- Launch of Pfizer’s participation on TrumpRx.gov providing Americans a wide range of more than 30 medicines at a significant discount off list prices.
- Pfizer completed the exit of its 11.7% investment in ViiV Healthcare Limited and received $1.875 billion in proceeds.
- Pfizer entered into settlement agreements with generic drug manufacturers Dexcel Pharma, Hikma Pharmaceuticals and Cipla Ltd, regarding lawsuits filed in the U.S. District Court for the District of Delaware for infringement of patents relating to Vyndamax.
Pfizer hosted a live conference call and webcast on May 5, 2026, to discuss the results.
See the financial schedules and product revenue tables within the press release for additional details.
‘Launched and Acquired Products’ represent select recently launched and acquired products, including new indications. Launched products primarily include Prevnar 20 (Pediatrics), Abrysvo (Older Adult / Maternal), Elrexfio, Cibinqo, Talzenna, Litfulo, Ngenla, Hympavzi, Penbraya Adolescent, and Lorbrena (added Q1-26); and acquired products primarily include Padcev, Adcetris, Tukysa, Tivdak, Nurtec ODT/Vydura, and Velsipity.
Pfizer does not provide guidance for U.S. generally accepted accounting principles (GAAP) Reported financial measures (other than revenues) or a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP Reported financial measures on a forward-looking basis because it is unable to predict with reasonable certainty the ultimate outcome of unusual gains and losses, certain acquisition-related expenses, gains and losses from equity securities, actuarial gains and losses from pension and postretirement plan remeasurements, potential future asset impairments and pending litigation without unreasonable effort.
Xianweiying® is a registered trademark of Hangzhou Sciwind Biosciences Co., Ltd.
Disclaimer: The information in this release is current as of May 5, 2026, and Pfizer assumes no obligation to update forward-looking statements.
Source: Pfizer
