After several challenging years, Pfizer has shifted focus to high-potential late-stage assets that could offset upcoming patent expirations. The company’s PF-4404 oncology program is now in pivotal trials across multiple tumor types, with interim data expected in Q4 2026. In parallel, Pfizer acquired MET-097i last year and has initiated Phase 2b studies in obesity, targeting a 15% mean placebo-adjusted weight loss at 24 weeks. Management forecasts that combined revenues from these two assets alone could exceed $4 billion by 2030, assuming regulatory approval.

To insulate its global supply chain from incoming U.S. import duties, Pfizer negotiated a three-year exemption from tariffs in exchange for modest price concessions on select medicines. This agreement, effective January 1, 2026, is expected to save Pfizer an estimated $400 million in incremental costs through 2028, while preserving gross margins above 68%. The deal also secures uninterrupted access to raw materials for vaccine production, bolstering Pfizer’s capacity ahead of anticipated demand for next-generation immunizations.

At Davos, CEO Albert Bourla publicly rebuked Robert F. Kennedy’s vaccine skepticism as an ideological barrier to constructive policy dialogue, and urged replacement of the U.S. Health Secretary to revitalize science-based decision making. Bourla further warned that underinvestment in American university research has ceded roughly 80% of top global health-science rankings to Chinese institutions. He advocated for renewed funding initiatives to restore U.S. leadership in mRNA, oncology and immunology research, noting that China’s reforms have accelerated domestic innovation in original drug discovery.