Pfizer forecasts post-2028 growth after $14.45B Q1 beat, obesity pipeline
Pfizer posted first-quarter sales of $14.45 billion, surpassing the $13.79 billion consensus on 22% growth in newly launched products led by Eliquis, Padcev and Nurtec ODT. It projects a return to stronger growth after 2028, driven by its obesity-drug pipeline, Vyndamax patent extension to 2031 and a European vaccine ruling.
1. First-Quarter Performance
Pfizer reported Q1 sales of $14.45 billion, topping the $13.79 billion estimate. Growth in newly launched products rose 22%, driven by blood thinner Eliquis, cancer drug Padcev and migraine treatment Nurtec ODT.
2. Vyndamax Patent Settlement
The company settled patent disputes to extend exclusivity for heart drug Vyndamax until mid-2031, delaying generic competition. This deal underpins Pfizer’s confidence in a high-single-digit annual growth rate from 2029 through 2033.
3. Obesity Pipeline Strategy
Pfizer’s first obesity drug, acquired via its $10 billion Metsera purchase, targets a market seen exceeding $100 billion annually. The candidate won’t reach market before 2028, but sales teams already engage 60% of obesity-prescribing physicians.
4. Vaccine Ruling and Emerging Markets
A European court ruling on its COVID-19 vaccine enhances long-term outlook. Pfizer plans to leverage its primary-care presence to expand in emerging markets such as Brazil and Mexico.