Pfizer is offering a 6.7% dividend yield, one of the highest in the pharmaceutical sector, after its COVID-19 vaccine and Paxlovid treatment revenues declined sharply. Management has committed to maintaining and growing the dividend while the company works to diversify its sales base. Pfizer’s forward price-to-earnings ratio stands at 8.7, below its five-year average of 9.7, suggesting the stock is trading at a discount. To bolster future growth, Pfizer struck a licensing agreement with China’s YaoPharma for an early-stage GLP-1 candidate and has significantly increased investment in oncology research, targeting multiple late-stage clinical readouts in 2026 and beyond.

In January 2026, Pfizer completed the sale of its 11.7% stake in ViiV Healthcare for $1.875 billion, using proceeds to fund pipeline expansion. Looking ahead to its fourth quarter, the company expects continued strong growth from its anticoagulant Eliquis, which generated over $10 billion in 2025 sales, and stable demand for key non-oncology products. Management anticipates COVID-related revenues will be down by more than 70% year-over-year in Q4, but believes that gains in established franchises—such as Prevnar and Ibrance—will offset much of the decline and support mid-single-digit overall revenue growth for the unit.