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Earnings Driven by Focused Execution and 22% Op Revenue Growth of Launched and Acquired Products(1)
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Pipeline Momentum Builds on Positive Phase 3 and Mid-Stage Readouts
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Robust Late-Stage R&D Pipeline, On Track to Start ~20 Key Pivotal Studies in 2026
NEW YORK, Tuesday, May 5, 2026 — Pfizer Inc. (NYSE: PFE) reported financial results for the first quarter of2026 and reaffirmed its full-year 2026 financial guidance(2).
EXECUTIVE COMMENTARY
Dr. Albert Bourla, Chairman and CEO of Pfizer:“We're off to a strong start in 2026, and it reinforces our confidence that we will successfully navigate thisdefining period for Pfizer. Our R&D pipeline is advancing on multiple fronts – with positive Phase 3 readoutsand encouraging mid-stage results building meaningful momentum – and I'm particularly encouraged by whatwe're seeing in oncology and obesity, two areas where I believe Pfizer is positioned to lead.”
David Denton, CFO and EVP of Pfizer:
“Our first-quarter results are attributable to our solid commercial performance globally as well as our ongoingfocus on operational efficiency. This quarter, I’m particularly pleased with the 22% year-over-year operationalrevenue growth from our launched and acquired products(1). Today, we are reaffirming our full-year 2026financial guidance.”
OVERALL RESULTS
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First-Quarter 2026 Revenues of $14.5 Billion, Representing 2% Year-over-Year Operational Growth
– Excluding Contributions from Comirnaty and Paxlovid, Revenues Grew 7% Operationally
– Revenues of Launched and Acquired Products(1) Grew 22% Operationally
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First-Quarter 2026 Reported(3) Diluted EPS of $0.47, and Adjusted(4) Diluted EPS of $0.75
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Reaffirms All Components of Full-Year 2026 Financial Guidance(2), including Revenues in a Range of $59.5 to$62.5 Billion and Adjusted(4) Diluted EPS in a Range of $2.80 to $3.00
Beginning in the first quarter of 2026, we made organizational changes in our commercial organization within theGlobal Biopharmaceuticals Business (Biopharma) to better support and optimize performance across our productportfolios. These changes include the transition of certain off-patent branded and generic sterile injectables andbiosimilars primarily from the Specialty Care and Oncology product portfolios to a new Hospital and Biosimilarsproduct portfolio and the creation of a new Global Hospital and Biosimilars Division within Biopharma. See theItem 1. Business––Commercial Operations section of Pfizer's 2025 Annual Report on Form 10-K (available atwww.pfizer.com and www.sec.gov).
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(5).
Results for the first quarter of 2026 and 2025(6) are summarized below.
2026 FINANCIAL GUIDANCE(2)
Reaffirms all components of full-year 2026 Financial Guidance(2), including Revenues in a range of $59.5 to$62.5 billion and Adjusted(4) Diluted EPS in a Range of $2.80 to $3.00.
