Pfizer’s Q4 and full-year 2025 financial reports reveal that the company is in the midst of a deep strategic transformation. Revenue for Q4 2025 was $17.56 billion, a slight decrease of 1% year-over-year, while core business operating growth reached 9%, demonstrating strong endogenous momentum. Adjusted EPS for Q4 was $0.66, up 5% year-over-year, reflecting improved operational efficiency under aggressive cost-cutting measures.
The full-year 2025 total revenue was $62.6 billion. Adjusted EPS was $3.22, up 4% year-over-year, slightly exceeding market expectations.
Among the full-year 2025 performance, the anticoagulant Eliquis ($8 billion, +8%) and the heart disease drug Vyndaqel ($6.4 billion, +17%) performed steadily. RSV vaccine Abrysvo ($1 billion, +37%) and the oncology drug Lorbrena (+40%) became key growth drivers.
Thanks to the integration of Seagen, the oncology segment’s full-year revenue reached $16.8 billion (+8%), with the ADC flagship product Padcev soaring 22%, becoming Pfizer’s second growth curve in the oncology field.
Through the acquisition of Metsera, Pfizer gained a long-acting GLP-1 receptor agonist. The company plans to initiate 20 key clinical trials in 2026, with 10 focusing on obesity assets, aiming to carve out a share in the duopoly market of Novo Nordisk and Eli Lilly.
The company reaffirmed its 2026 revenue guidance of $59.5 billion to $62.5 billion. This target accounts for approximately $1.5 billion in patent expiration impacts.
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Pfizer reaffirms 2026 revenue guidance of $59.5 billion to $62.5 billion
Pfizer’s Q4 and full-year 2025 financial reports reveal that the company is in the midst of a deep strategic transformation. Revenue for Q4 2025 was $17.56 billion, a slight decrease of 1% year-over-year, while core business operating growth reached 9%, demonstrating strong endogenous momentum. Adjusted EPS for Q4 was $0.66, up 5% year-over-year, reflecting improved operational efficiency under aggressive cost-cutting measures.
The full-year 2025 total revenue was $62.6 billion. Adjusted EPS was $3.22, up 4% year-over-year, slightly exceeding market expectations.
Among the full-year 2025 performance, the anticoagulant Eliquis ($8 billion, +8%) and the heart disease drug Vyndaqel ($6.4 billion, +17%) performed steadily. RSV vaccine Abrysvo ($1 billion, +37%) and the oncology drug Lorbrena (+40%) became key growth drivers.
Thanks to the integration of Seagen, the oncology segment’s full-year revenue reached $16.8 billion (+8%), with the ADC flagship product Padcev soaring 22%, becoming Pfizer’s second growth curve in the oncology field.
Through the acquisition of Metsera, Pfizer gained a long-acting GLP-1 receptor agonist. The company plans to initiate 20 key clinical trials in 2026, with 10 focusing on obesity assets, aiming to carve out a share in the duopoly market of Novo Nordisk and Eli Lilly.
The company reaffirmed its 2026 revenue guidance of $59.5 billion to $62.5 billion. This target accounts for approximately $1.5 billion in patent expiration impacts.