Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States and internationally. As one of the world's largest pharmaceutical companies, Pfizer has a market cap of $144.29 Billion USD as of July 2025, making it the world's 121st most valuable company by market cap. The company trades on the New York Stock Exchange under the ticker symbol PFE.
The company operates through comprehensive business segments that span across multiple therapeutic areas. Its Biopharma segment includes the Pfizer U.S. Commercial Division and the Pfizer International Commercial Division. Its product categories include oncology, primary care, and specialty care. It serves wholesalers, retailers, hospitals, clinics, government agencies, pharmacies, individual provider offices, retail pharmacies, and integrated delivery systems.
Pfizer maintains a diverse portfolio of pharmaceutical products across various therapeutic categories. It provides medicines and vaccines in various therapeutic areas, such as:
* Biosimilars for chronic immune and inflammatory diseases under the Xeljanz, Enbrel, Inflectra, Litfulo, Velsipity, and Cibinqo brands.
* Amyloidosis, hemophilia, endocrine diseases, and sickle cell disease under the Vyndaqel family, Oxbryta, BeneFIX, Somavert, Ngenla, and Genotropin brands.
* Sterile injectable and anti-infective medicines under the Sulperazon, Medrol, Zavicefta, Zithromax, Octagam, and Panzyga brands.
* Biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Padcev, Adcetris, Inlyta, Lorbrena, Bosulif, Tukysa, Braftovi, Mektovi, Orgovyx, Elrexfio, Tivdak, and Talzenna brands.
The company's oncology portfolio remains particularly strong, with notable products including Ibrance for breast cancer and Xtandi for prostate cancer. Beyond oncology, Pfizer has established significant presence in vaccines, including its COVID-19 vaccine Comirnaty and RSV vaccine Abrysvo, as well as treatments for rare diseases through its Vyndaqel family of products.
Pfizer achieved growth across its product portfolio for full-year 2024, including $3.4 billion in revenue from its legacy Seagen portfolio, as well as robust growth from the Vyndaqel family, Eliquis, Xtandi, Nurtec, and several other products across all categories. The company delivered 12% operational revenue growth of Pfizer's non-COVID products in full-year 2024, demonstrating a continued focus on commercial execution.
The company returned significant value to shareholders in 2024, with $9.5 billion of cash dividends, or $1.68 per share of common stock. Pfizer reinvested capital into initiatives intended to enhance future growth prospects, including $10.8 billion invested in internal research and development projects, and approximately $300 million invested in business development transactions.
Pfizer reported fourth-quarter earnings and revenue that beat estimates as sales of the company's Covid products topped expectations. For the fourth quarter:
* Earnings per share: 63 cents adjusted vs. 46 cents expected.
* Revenue: $17.76 billion vs. $17.36 billion expected.
* First-quarter 2025 revenues totaled $13.7 billion, a decrease of $1.2 billion, or 8%, compared to the prior-year quarter, reflecting an operational decrease of $908 million, or 6%, as well as an unfavorable impact of foreign exchange of $256 million, or 2%.
The company's COVID-19 products showed mixed results, with Comirnaty booking $565 million in revenue, up 60% from the same period a year ago. However, Pfizer's vaccine against respiratory syncytial virus saw $198 million in revenue for the fourth quarter, down 62% from the year-earlier period.
The company reiterated its full-year 2025 outlook, forecasting sales of $61 billion to $64 billion, with a similar performance from its Covid products as seen in 2024. Stripping out one-time items, the company expects 2025 earnings to be in the range of $2.80 to $3 a share.
Key financial metrics for 2025 include:
* Revenue guidance: $61.0 to $64.0 billion
* Adjusted diluted EPS: $2.80 to $3.00
* Expected operational growth: 10% to 18% from 2024 midpoint guidance
The company said it is on track to deliver overall net cost savings of roughly $4.5 billion by the end of 2025 from its cost-cutting program. Pfizer has been successful in delivering on its goal of $4 billion in net operating expense savings through 2024 from its cost realignment program, with an additional $500 million still expected to come in 2025.
Changes to the Medicare program resulting from the Inflation Reduction Act will hurt sales by $1 billion, dampening growth by approximately 1.6% compared to 2024. The company also faces ongoing uncertainties related to trade policy, with Pfizer noting that its 2025 guidance does not include any impact of tariffs or trade policy, "which we are unable to predict at this time."
Investors are watching to see whether Pfizer can win a slice of the booming weight loss drug market with the once-daily version of its experimental obesity pill, danuglipron. The company continues to invest heavily in research and development, with significant focus on strengthening its pipeline and improving R&D productivity.
The results cap off a critical year for Pfizer, which has been slashing costs as it recovers from the rapid decline of its Covid business and stock price over the last two years. The company maintains a strong dividend policy, with a forward dividend yield of 7.10% as of the latest data.
As stated by CEO Albert Bourla: "We continued to execute with focus and discipline against our strategic priorities, including strengthening our R&D organization and driving improved productivity. With the underlying strength of our business, we believe we can be agile in navigating an uncertain and volatile external environment."
The company's strategic focus remains on commercial execution, operational efficiency, and pipeline development, positioning it for sustainable long-term growth despite near-term headwinds from patent expirations and regulatory challenges.
