PFE · 10-Q · 2026Q3 · Full report

Revenue Performance and Mix

PFIZER INC · 2026-11-03 · Importance 57 · Surprise 64 · Matches filing data

Third-quarter revenue was relatively flat, while revenue excluding Comirnaty and Paxlovid increased 7% operationally; nine-month revenue also increased 7% excluding those COVID-19 products. Demand and market-share gains drove growth in Padcev (up 55% for the quarter), Nurtec ODT/Vydura (up 33%), Lorbrena (up 43%) and the Vyndaqel family (up 12%); Padcev benefited from first-line la/mUC share gains and launch uptake in cisplatin-ineligible muscle-invasive bladder cancer. Pfizer cited lower adult and pediatric vaccination rates and adult market-share erosion in the U.S. for the Prevnar family, while Paxlovid declined with lower COVID-19 infections and government purchases, and Comirnaty declined with lower U.S. utilization and international deliveries. Trends varied by geography: Eliquis benefited from higher U.S. net price and global demand despite generic entry and international price erosion; Vyndaqel grew with U.S. market expansion and international diagnosis and access; and Ibrance faced competitive pressure in emerging markets.

Key facts

• Pfizer expects an unfavorable 2026 revenue impact of approximately $1.1 billion from patent-based or regulatory exclusivity expiries. source
• Pfizer expects an unfavorable impact from exclusivity expiries to significantly accelerate over the next few years, with significant revenue reductions anticipated from 2026 through 2030. source

Impact estimates