辉瑞公布2025年全年业绩及2026年指引

NEW YORK, Tuesday, February 3, 2026 — Pfizer Inc. (NYSE: PFE) reported financial results for fourth-quarterand full-year 2025 and reaffirmed its full-year 2026 financial guidance(1) provided on December 16, 2025. 

EXECUTIVE COMMENTARY 

Dr. Albert Bourla, Chairman and CEO of Pfizer:

 “With excellent execution in 2025, we delivered a solid financial performance and strengthened Pfizer’sfoundation for future growth. Looking ahead, 2026 will be an important year rich in key catalysts, including ourexpectation for approximately 20 key pivotal study starts, and continued strategic investment to maximize ouropportunities for industry-leading growth at the end of the decade.”

David Denton, CFO and EVP of Pfizer: 

“I’m pleased with our solid financial results in 2025. With focused commercial execution, we delivered full-yearoperational revenue growth of 6% for our non-COVID portfolio, and our continued financial discipline drovestrong EPS performance. Today, we are reaffirming our full-year 2026 financial guidance.” 

OVERALL RESULTS

• Full-Year 2025 Revenues of $62.6 Billion, Reflecting a 2% Year-over-Year Operational Decline– Excluding Contributions from Paxlovid and Comirnaty, Revenues Grew 6% Operationally 

• Full-Year 2025 Reported(2) Diluted EPS of $1.36 and Adjusted(3) Diluted EPS of $3.22 

• Fourth-Quarter 2025 Revenues of $17.6 Billion, Representing a 3% Year-over-Year Operational Decline– Excluding Contributions from Paxlovid and Comirnaty, Revenues Grew 9% Operationally 

• Fourth-Quarter 2025 Reported(2) Diluted Loss Per Share (LPS) of $(0.29) and Adjusted(3) Diluted EPS of$0.66 

• Reaffirms All Components of Full-Year 2026 Financial Guidance(1), including Revenues in a Range of $59.5 to$62.5 Billion and Adjusted(3) Diluted EPS in a Range of $2.80 to $3.00

Some amounts in this press release may not add due to rounding. All percentages have been calculated usingunrounded amounts. References to operational variances pertain to period-over-period changes that exclude theimpact of foreign exchange rates(4). 

Results for the fourth quarter and full year of 2025 and 2024(5) are summarized below

2026 FINANCIAL GUIDANCE(1) 

• Reaffirms full-year 2026 Revenue guidance in a range of $59.5 to $62.5 billion and Adjusted(3) diluted EPSguidance(1) in a range of $2.80 to $3.00. 

• The reaffirmed 2026 Revenue guidance reflects the expectation of approximately $5 billion in revenues fromour COVID-19 products and an expected year-over-year negative revenue impact of approximately $1.5billion due to certain products experiencing loss of exclusivity (LOE)(1). 

• 2026 Adjusted(3) diluted EPS guidance primarily reflects our expected revenues, anticipated stable gross andoperating margins versus full-year 2025, and an anticipated higher tax rate on Adjusted(3) income versus fullyear 2025. Additionally, our guidance reflects our expectation for a continued focus on prioritization in keytherapeutic areas as well as our plan to start approximately 20 key pivotal trials in 2026, including ten pivotaltrials for ultra-long-acting obesity assets acquired from Metsera and four pivotal trials for PF-08634404 (aPD-1 x VEGF bispecific antibody in-licensed from 3SBio). 

• The company’s guidance reflects the anticipated unfavorable impact of Most-Favored-Nation drug pricing andTrumpRx.

• The company’s guidance includes the anticipated impact of currently imposed tariffs.