Finance
Pfizer beats earnings estimates as demand for older drugs offsets COVID slump
Published by Global Banking and Finance Review
Posted on February 3, 2026
2 min readLast updated: February 3, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on February 3, 2026
2 min readLast updated: February 3, 2026
Pfizer's Q4 profit beat expectations due to strong drug demand, despite challenges from declining COVID product sales and upcoming patent expirations.
Feb 3(Reuters) - Pfizer on Tuesday reported fourth-quarter earnings above Wall Street estimates, as sustained demand for older drugs such as blood thinner Eliquis helped offset fading sales of its COVID products.
The upbeat results come as Pfizer navigates falling demand for its COVID-19 products and faces patent expirations on several of its older drugs.
Pfizer has already warned of challenges it sees over the next few years and has said that it does not expect to return to revenue growth until 2029. The company is banking on developing new blockbuster medicines, including obesity drugs acquired through recent deals, to help drive that recovery.
The drugmaker last year shelled out $10 billion to acquire obesity drug developer Metsera, emerging victorious from a fierce bidding war with Novo Nordisk and securing a foothold in the booming weight-loss drug market.
"2026 will be an important year rich in key catalysts, including our expectation for approximately 20 key pivotal study starts," CEO Albert Bourla said.
The company is targeting a series of potential obesity approvals in 2028.
OLDER DRUGS SEE ROBUST DEMAND
For the reported quarter, the company saw sales rise to $17.56 billion, partly helped by robust demand for its blood thinner Eliquis and RSV vaccine Abrysvo. Analysts were expecting $16.95 billion in sales, according to data compiled by LSEG.
Abrysvo full-year sales came in at $1.03 billion, compared with estimates of $764.40 million.
Sales of blood thinner Eliquis came in at $2.02 billion for the fourth quarter, compared with estimates of $2.1 billion.
On an adjusted basis, the company reported a profit of 66 cents per share, compared with analysts' estimates of 57 cents per share.
The company reaffirmed its 2026 forecast and said the forecast reflects the anticipated unfavorable impact of Most-Favored-Nation drug pricing and TrumpRx.
(Reporting by Sneha S K in Bengaluru; Editing by Anil D'Silva)
Revenue growth refers to the increase in a company's sales over a specific period, often expressed as a percentage. It indicates the company's ability to expand its business and increase its market share.
Patent expiration occurs when the legal protection granted to an invention or product ends, allowing other companies to produce generic versions. This can significantly impact a company's revenue from patented products.
A blockbuster medicine is a pharmaceutical product that generates annual sales of over $1 billion. These drugs are often critical to a company's revenue and market position.
Adjusted profit is a measure of a company's profitability that excludes certain one-time expenses or income, providing a clearer view of ongoing operational performance.
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