Pfizer lifts 2026 forecast despite profit fall

Pfizer raised its 2026 forecast on Tuesday despite reporting lower third-quarter profit, pointing to sales growth from products added through recent acquisitions.

The drugmaker reported profit of $3.2 billion in the third quarter, down eight percent from a year earlier. Revenue fell by less than one percent to $16.6 billion.

Pfizer said sales of acquired products grew 37 percent operationally in the quarter. Products with significant revenue increases included the blood thinner Eliquis, the migraine medication Nurtec and the cancer drug Lorbrena.

The company raised its 2026 revenue forecast to a range of $62 billion to $64 billion, up $1.5 billion from its previous outlook. It also lifted its earnings-per-share forecast range.

Pfizer said it increased research and development spending from a year earlier and had higher restructuring costs. Chief executive Albert Bourla said the company had a robust pipeline of clinical trials upcoming.

Pfizer shares slipped 0.3 percent in pre-market trading.