Pfizer raises 2026 forecasts as Eliquis, cancer drugs drive third-quarter results
Pfizer raised its 2023 profit and revenue forecasts due to strong demand for Eliquis and cancer drug Padcev. It now expects $62B-$64B in sales and $2.95-$3.05 EPS. CEO Albert Bourla cited strong Q3 performance and confidence in the pipeline. The company has invested heavily in acquisitions, including Seagen and Metsera. Pfizer reported Q3 adjusted profit of $0.87 per share, above estimates, with revenue of $16.58B. Eliquis sales rose 25% to $2.52B.
How this was made
The 30-second read
Why it matters
The guidance raise and Q3 beat provide a near-term earnings floor, but the pipeline catalyst timing (mevrometostat now in Q1 2027) is a key swing factor for longer-duration valuation.
Market read
Traders can update 2026 earnings expectations immediately based on the new sales and EPS ranges, and adjust positioning around the delayed 2027 pipeline readout.
What to watch
The mevrometostat data delay to Q1 2027 could shift near-term expectations for pipeline-driven growth, and the CFO transition may affect how investors interpret future guidance-setting credibility.
Background
Pfizer is integrating acquired oncology and obesity assets (Seagen, Metsera) while facing looming patent expirations and COVID-19 product declines.
Ticker impact
Pfizer raised full-year sales to $62B-$64B and EPS to $2.95-$3.05 after Q3 beats driven by Eliquis and Padcev demand.
Likely upward bias as the market reprices higher 2026 earnings power, tempered by the delayed mevrometostat readout into Q1 2027.
The article discloses new, company-specific forecast numbers plus a fresh catalyst timeline (mevrometostat now expected in Q1 2027) and an executive transition (new CFO effective Nov 1).
Market effects
Strength in Eliquis demand and Medicare negotiation dynamics may influence sentiment across large-cap pharma anticoagulants and pricing negotiations.
US large-cap pharma sentiment likely supported by raised 2026 outlook and Q3 beat.
Limited direct global spillover beyond multinational pharma earnings/guidance read-through.
Counterpoint
The raised forecast may be more dependent on Eliquis and acquired assets than on durable pipeline execution, leaving upside vulnerable to later patent and trial outcomes.
Key entities
- companyPfizer
Raised 2026 sales and EPS forecasts on stronger Q3 results led by Eliquis and Padcev demand; appointed new CFO.
- productEliquis
Blood thinner co-marketed with Bristol Myers Squibb; sales rose 25% to $2.52B in Q3.
- drug_candidatemevrometostat
Late-stage experimental cancer drug; data now anticipated in Q1 2027 instead of year-end.
- executiveCecile Guegan
Appointed CFO effective Nov 1, succeeding Dave Denton.
