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Pfizer
on Tuesday reported fourth-quarter results that topped estimates even amid dwindling demand for its Covid products, while reaffirming its modest 2026 guidance that rattled investors in December.
The pharmaceutical giant is looking to longer-term investments in its pipeline, including its $10 billion acquisition of the obesity biotech Metsera, to counter waning Covid product sales and declines from older drugs. Pfizer moved to show the promise of that investment Tuesday, when it also reported mid-stage data showing that an obesity injection from Metsera can be taken once a month and drive solid weight loss.
In addition, Pfizer is on track to cut costs by about $7.7 billion by the end of 2027 as part of two separate initiatives.
