Pfizer Inc (NYSE:PFE, XETRA:PFE) reported first-quarter 2026 revenue and adjusted profit above Wall Street expectations on Tuesday, driven by strong growth in its launched and acquired products, as the drugmaker reaffirmed its full-year financial outlook.
The pharmaceutical giant posted revenue of $14.5 billion for the quarter ended March 31, up 5% from a year earlier and ahead of analyst estimates of $13.84 billion. Adjusted earnings per share came in at $0.75, topping the consensus estimate of $0.72.
Excluding Comirnaty, its COVID-19 vaccine, and Paxlovid, its antiviral treatment, revenue rose 7% on an operational basis, underscoring the company's push to diversify beyond its pandemic-era products. Revenue from launched and acquired products climbed 22% operationally year over year.
Several key products posted double-digit growth in the quarter. Cancer drug Padcev rose 39% operationally, oncology biosimilars surged 52%, migraine treatment Nurtec ODT/Vydura gained 41%, and lung cancer medication Lorbrena climbed 32%.
Eliquis, the blood thinner co-marketed with Bristol-Myers Squibb, rose 8% operationally, while the Vyndaqel family of heart disease drugs grew 4%. Abrysvo, Pfizer's respiratory syncytial virus vaccine, advanced 31%, and rheumatoid arthritis drug Xeljanz increased 34%.
In contrast, Comirnaty revenue fell 59% operationally and Paxlovid dropped 63%, continuing their retreat from pandemic-era peaks.
Adjusted income for the quarter was $4.29 billion, down 18% from a year ago, as adjusted cost of sales rose 31% and adjusted research and development expenses increased 12% year over year.
On the pipeline front, Pfizer said it remains on track to initiate approximately 20 key pivotal studies in 2026, with the company citing encouraging progress in oncology and obesity.
Pfizer reaffirmed its full-year 2026 revenue guidance of $59.5 billion to $62.5 billion and adjusted EPS of $2.80 to $3, compared with analyst estimates of $2.96.
Pfizer shares were down approximately 0.9% in Tuesday trading.