Pfizer 2025 Financial Report: Non-COVID Business Grows by 6%, Reduced New Drug Data Looks Promising

K-LinePoet · 2026-03-01T20:43:18+00:00

Pfizer's 2025 financial report shows total revenue of $62.6 billion, a 2% decrease year-over-year, but core business grew by 6% excluding COVID-19 products. Revenue in the fourth quarter was $17.6 billion, and management forecasts revenue for 2026 to be between $59.5 billion and $62.5 billion. Recently, analysts maintained a "Buy" rating on Pfizer stock with a target price of $26-$30.

K-LinePoet

2026-03-01 20:43:18

Abstract generation in progress

The Economic Observer reports that Pfizer announced its full-year 2025 financial results on February 4, 2026, with total revenue of $62.6 billion, down 2% year-over-year. Excluding the impact of COVID-19 products (such as Comirnaty and Paxlovid), core business revenue grew by 6%, reflecting steady growth in non-COVID segments. Adjusted earnings per share (EPS) were $3.22, up 4% year-over-year, mainly driven by cost-cutting measures and improved operational efficiency. Revenue in the fourth quarter reached $17.6 billion; excluding COVID-19 products, quarterly revenue increased by 9% year-over-year, indicating accelerated business transformation. Management reaffirmed the 2026 performance guidance, expecting revenue between $59.5 billion and $62.5 billion, with adjusted EPS of $2.80 to $3.00.

Institutional Views

CMB International, in a report dated February 5, 2026, noted that Pfizer’s Q4 2025 results exceeded expectations. Data from the weight-loss pipeline PF’3944 (phase 2b) showed a 12.3% weight loss in the medium-dose group, indicating competitive potential against Eli Lilly’s tirzepatide. The safety profile was acceptable (adverse event discontinuation rate of 9.3%). The company plans to initiate higher-dose phase 3 trials in 2026, which could lead to a valuation re-rating. Meanwhile, Futu Securities analysts’ consensus target price ranges from $26 to $30, with Scotiabank maintaining a “Buy” rating and a target of $30, emphasizing improved cash flow and pipeline catalysts.

Recent Events

On February 11, 2026, the Shanghai Securities News reported on the 2025 performance of multinational pharmaceutical companies. Pfizer ranked sixth in industry revenue with $62.58 billion but was one of two top ten pharma companies to see revenue decline due to decreased demand for COVID-19 products (e.g., a 33% drop in Revlimid revenue). Non-COVID products such as anticoagulant Eliquis ($8 billion revenue, up 8%) and pneumonia vaccine Prevnar ($6.5 billion revenue) contributed stable growth, offsetting some declines.

Recent Stock Performance

Over the past 7 days (February 5–11, 2026), Pfizer’s stock price fluctuated by 3.55%, with a volatility of 5.53%. The highest price was $27.94 (February 11), and the lowest was $26.46 (February 5). As of the close on February 11, the stock was at $27.73, up 0.43% for the day, with a trading volume of $1.157 billion. Since the beginning of the year, the stock has gained 13.23%, outperforming the pharmaceutical sector, which declined by 0.02% during the same period.

The above information is compiled from publicly available sources and does not constitute investment advice.

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