Pfizer Inc. Q3 2026 Earnings Recap

Pfizer shares fell 2.2% after earnings, a roughly flat reaction. The company raised full-year 2026 revenue and adjusted EPS guidance, while the call highlighted growth in acquired products and ongoing investment in its pipeline.

Key Takeaways

• Launched and acquired products grew 32% operationally in the quarter; acquired products grew 37%.
• Seagen’s legacy portfolio grew 39% year over year in the U.S., driven by Padcev.
• Biohaven grew 33% operationally, with management citing demand and commercial execution amid competition in oral CGRP.
• Pfizer plans 10 active or planned Phase 3 obesity trials in 2026 and is working toward a first potential berobenatide approval in 2028.
• Management cited financial discipline and productivity improvements as margin contributors, but the provided remarks do not include specific quarterly financial results or the details of the raised guidance.