By: IPP Bureau
Last updated : April 29, 2025 4:46 pm
Delivers robust earnings performance, successfully navigating a dynamic environment
Pfizer reported financial results for the first quarter of 2025 and reaffirmed its 2025 financial guidance. During Q1 205, Pfizer’s revenues totaled $13.7 billion, a decrease of $1.2 billion, or 8%, compared to the prior-year quarter, reflecting an operational decrease of $908 million, or 6%, as well as an unfavorable impact of foreign exchange of $256 million, or 2%.
The operational decrease was primarily driven by a decline in Paxlovid revenues, partially offset by growth from the Vyndaqel family, Comirnaty , and several other products across categories despite the unfavorable impact of higher manufacturer discounts resulting from the Inflation Reduction Act (IRA) Medicare Part D Redesign.
Dr. Albert Bourla, Chairman and CEO, Pfizer, commented: “We continued to execute with focus and discipline against our strategic priorities, including strengthening our R&D organization and driving improved productivity. With the underlying strength of our business, we believe we can be agile in navigating an uncertain and volatile external environment.”
David Denton, CFO and EVP, Pfizer, added: “Our overall solid first-quarter performance demonstrates our continued focus on commercial execution amid U.S. Medicare Part D headwinds. Our focus on operational efficiency and financial discipline is driving strong results to our bottom line. We are currently trending towards the upper end of our 2025 Adjusted diluted EPS guidance range.”
Pfizer is on track to deliver operating margin expansion from ongoing cost realignment program with approximately $4.5 billion of net cost savings by end of 2025, and announces additional productivity gains expected through 2027 leveraging digital enablement and process simplification. Moreover, additional anticipated net cost savings of approximately $1.2 billion primarily in SI&A by end of 2027. The company also expanded program to include anticipated R&D re-organization cost savings of approximately $500 million by end of 2026.
2025 FINANCIAL GUIDANCE
Reaffirms All Components of Full-Year 2025 Financial Guidance, including Revenues in a Range of $61.0 to $64.0 Billion and Adjusted Diluted EPS in a Range of $2.80 to $3.00. The company’s reaffirmed guidance does not currently include any potential impact related to future tariffs and trade policy changes, which we are unable to predict at this time.