News Brief: Pfizer’s 2026 Outlook
Summary
Pfizer issued a modest financial forecast for 2026, reflecting challenges from declining COVID-19 product sales, patent expirations on older drugs, and costs from recent acquisitions. The company is relying on long-term pipeline investments to drive future growth.
Key Points
- 2026 Guidance: Forecasts adjusted earnings of $2.80-$3.00 per share and revenue of $59.5B-$62.5B, slightly below some analyst estimates.
- Revenue Headwinds: Expects ~$1.5B drop in COVID product sales (to ~$5B) and another ~$1.5B decline from drugs losing market exclusivity.
- Recent Acquisitions: Large deals (e.g., Seagen for $43B, Metsera for $10B) are investments for the future but are not yet paying off.
- Cost Savings: Exceeded 2025 cost-saving goals; targeting over $7B in cuts by 2027, with most delivered by 2026.
- Policy Impact: Guidance includes pressure from Medicare drug price negotiations (Inflation Reduction Act) and a landmark pricing deal with the Trump administration.
- Market Reaction: Shares fell nearly 5% on the day of the announcement.
新闻简报：辉瑞公司2026年展望
摘要
辉瑞公司发布了2026年温和的财务预测，反映出其面临COVID-19产品销售额下降、老药专利到期以及近期收购成本带来的挑战。公司正依赖其研发管线的长期投资来推动未来增长。
关键要点
- 2026年指引：预计调整后每股收益为2.80-3.00美元，营收为595亿至625亿美元，略低于部分分析师预期。
- 营收阻力：预计COVID产品销售额将下降约15亿美元（至约50亿美元），另有约15亿美元的收入下降来自失去市场独占权的药物。
- 近期收购：大型交易（如430亿美元收购Seagen，100亿美元收购Metsera）是为未来进行的投资，但目前尚未产生回报。
- 成本节约：已超额完成2025年成本节约目标；计划到2027年削减超过70亿美元成本，其中大部分将在2026年前实现。
- 政策影响：指引包含了医疗保险药品价格谈判（《通胀削减法案》）以及与特朗普政府达成的里程碑式定价协议带来的压力。
- 市场反应：公告发布当日，公司股价下跌近5%。
Original Article Link: https://www.cnbc.com/2025/12/16/pfizer-2026-guidance-metsera-seagen-deals.html