Pfizer
on Tuesday forecast modest 2026 guidance as it looks to longer-term investments in its pipeline to counter waning Covid product sales and declines from older drugs.
Those hurdles aren’t surprising or new for Pfizer, which has seen a dramatic decline in Covid vaccine and antiviral sales after raking in record-setting revenue during the pandemic. The drugmaker has pursued deals of all sizes in recent years to build new revenue streams, such as its recently closed $10 billion acquisition of the obesity biotech Metsera and the whopping $43 billion tie-up for cancer drugmaker Seagen in 2023.
But the guidance underscores that those investments are still some distance from paying off. Metsera, for example, brings a pipeline of drugs that are still in early-stage development.
Shares of the company slid nearly 5% on Tuesday. The stock is also down about 5% for the year.
