Pfizer has raised the midpoint of its full-year 2026 revenue guidance after posting solid second-quarter results, driven by strong performance from its launched and acquired products, continued momentum in its obesity program and oncology portfolio, and improved operational efficiency.

 

The pharmaceutical giant increased the midpoint of its 2026 revenue forecast by $500 million while reaffirming its adjusted diluted earnings per share (EPS) guidance, despite absorbing an estimated $0.10 per-share impact related to its Innovent Biologics transaction.

 

Second-quarter revenue reached $15 billion, representing 1% operational year-over-year growth. Excluding sales from Comirnaty and Paxlovid, operational revenue increased 5%, while revenue from launched and acquired products surged 18% operationally.

 

Pfizer reported a loss per share of $0.04 for the quarter, primarily due to $4.3 billion in non-cash intangible asset impairments, while adjusted diluted EPS came in at $0.77.

 

The company also announced an expansion of its productivity enhancement program, targeting an additional $2.5 billion in savings expected to be realized between 2027 and 2029.

 

Looking ahead, Pfizer said it expects several key late-stage clinical trial readouts over the next 12 months as it advances its pipeline.

 

“Pfizer had another strong quarter, delivering on our financial commitments and advancing our strategy. Our launched and acquired products performed well, our obesity program is advancing with meaningful momentum and our oncology portfolio remains a source of strength. I am confident we will create substantial future value for patients and shareholders,” said Albert Bourla, Chairman and CEO of Pfizer.

 

Incoming Interim Chief Financial Officer and Executive Vice President Cecile Guegan credited the company's commercial execution and operational discipline for the latest results.

 

“Our second-quarter results are attributable to our solid commercial performance globally as well as our ongoing focus on operational efficiency. This quarter, I’m particularly pleased with the 18% year-over-year operational revenue growth from our launched and acquired products. Our updated full-year 2026 guidance reflects the continued strength of and confidence in our business,” Guegan said.

 

Pfizer now expects full-year 2026 revenue of $60.5 billion to $62.5 billion, reflecting the higher guidance, while maintaining its adjusted diluted EPS forecast of $2.80 to $3.00.