Pfizer raises 2026 revenue outlook, reports Q2 loss on impairment charges
Pfizer lifted the midpoint of its full-year revenue guidance while reaffirming adjusted EPS guidance, which factors in costs tied to its Innovent Biologics licensing deal.
Pfizer reported second-quarter 2026 results on August 4, 2026, showing revenues of $15.0 billion, representing 1% year-over-year operational growth, with revenues excluding Comirnaty and Paxlovid growing 5% operationally1. The company posted a reported loss per share of $(0.04) and adjusted diluted EPS of $0.77, with the loss reflecting $4.3 billion in non-cash intangible asset impairments1.
Pfizer raised its full-year 2026 revenue guidance by $500 million at the midpoint to a range of $60.5 to $62.5 billion, from $59.5 to $62.5 billion previously1. The company said this reflects better than expected performance of non-COVID products by approximately $1.5 billion and a revised COVID-19 product revenue expectation, down to approximately $4 billion from approximately $5 billion previously1. Pfizer also reaffirmed its full-year adjusted diluted EPS guidance in a range of $2.80 to $3.001, a figure that absorbs a $650 million acquired in-process R&D charge tied to the completed Innovent Biologics licensing agreement, to be recorded in the third quarter with an expected unfavorable impact of approximately $0.10 per share1.
On the pipeline, Pfizer presented Phase 2b data on berobenatide, an investigational monthly GLP-1 receptor agonist peptide, and said the results support plans to advance 10 Phase 3 studies in 2026 for chronic weight management and related conditions1. The company also disclosed a setback: sigvotatug vedotin did not show a statistically significant overall survival improvement versus docetaxel in the Phase 3 SigVie-002 study in non-squamous NSCLC1, contributing to a $3.8 billion impairment of the drug's IPR&D asset following the unfavorable trial results1.
On regulatory matters, the FDA approved Ibrance in combination with trastuzumab, with or without pertuzumab, and endocrine therapy for maintenance treatment of HR+/HER2+ metastatic breast cancer1, and separately accepted for priority review a supplemental application for Talzenna plus Xtandi in certain prostate cancer patients, with a PDUFA date set for the fourth quarter of 20261.
On costs, Pfizer announced $1.0 billion of additional anticipated net cost savings from its ongoing cost realignment program, to be realized from 2027 through 20291.
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.