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Pfizer Declares $0.43 Fourth-Quarter Dividend, Extending Long-Running Payout Streak

Pfizer (NYSE: PFE) said its board of directors approved a fourth-quarter 2026 cash dividend of $0.43 per share.

The dividend will be payable on December 7, 2026, to shareholders of record at the close of business on November 6.

Pfizer said maintaining — and over the longer term growing — its dividend remains part of the company’s capital allocation strategy.

The payment will mark Pfizer’s 352nd consecutive quarterly dividend, extending the pharmaceutical company’s decades-long record of regular shareholder distributions.
Pfizer Reports Positive Phase 3 LITFULO Results in Nonsegmental Vitiligo

Pfizer reported positive Phase 3 results for LITFULO, or ritlecitinib, showing significant improvements in facial and total-body repigmentation in patients with nonsegmental vitiligo.

Across the TRANQUILLO 2 and TRANQUILLO trials, LITFULO significantly outperformed placebo at Week 52. In TRANQUILLO 2, 21.86% of patients receiving 100 mg LITFULO achieved at least 75% improvement in facial vitiligo compared with 2.40% on placebo. In TRANQUILLO, 12.47% of patients receiving 50 mg achieved the same endpoint versus 2.48% with placebo.

For total-body repigmentation, 13.02% of patients in TRANQUILLO 2 and 8.98% in TRANQUILLO achieved at least 50% improvement, compared with 2.40% and 1.98% on placebo, respectively. Improvements were evident from Week 24 and continued through Week 52.

The safety profile remained consistent with LITFULO’s established profile in alopecia areata, with no new safety signals identified.

The two Phase 3 studies enrolled a combined 2,174 patients, making the program the largest late-stage evaluation to date of an oral systemic therapy for nonsegmental vitiligo. Pfizer plans to submit the data to regulators including the FDA and EMA.

The results could broaden LITFULO’s commercial opportunity beyond alopecia areata by positioning the once-daily oral JAK3 and TEC kinase inhibitor as a potential systemic treatment for vitiligo.
Pfizer’s Tilrekimig Shows Strong Skin Clearance in Phase 2 Atopic Dermatitis Study

Pfizer reported positive Phase 2 results for tilrekimig, an investigational trispecific antibody being developed for moderate-to-severe atopic dermatitis. The study met its primary endpoint, with all evaluated doses producing statistically significant improvements in EASI-75 skin-clearance rates versus placebo at Week 16.

In Stage 1, 62.5% of patients receiving tilrekimig 450 mg every two weeks achieved EASI-75, compared with 19.9% for placebo. In Stage 2, EASI-75 rates were 58.5% for the 400 mg monthly dose, 61.0% for 200 mg and 47.8% for 50 mg, versus 9.1% for placebo.

Tilrekimig is designed to simultaneously block IL-4, IL-13 and TSLP, targeting multiple pathways involved in type 2 inflammation. Pfizer is also developing the drug with an extended half-life intended to support monthly dosing.

Secondary and exploratory endpoints were also encouraging. Around 26% to 30% of treated patients achieved clear or almost-clear skin depending on dose and study stage, while itch reduction was meaningfully greater than with placebo.

Pfizer said the treatment was generally well tolerated, with no dose-dependent safety signals and no treatment-related serious adverse events reported in the first two stages.

The company has already started Phase 3 trials in atopic dermatitis and asthma and is advancing a Phase 2b/3 study in COPD, positioning tilrekimig as a potentially important next-generation asset in Pfizer’s inflammation and immunology pipeline.
Pfizer and BioNTech Win FDA Approval for Updated XFG COVID-19 Vaccine

Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) received U.S. FDA approval for their updated 2026–2027 COMIRNATY COVID-19 vaccine targeting the XFG variant.

The updated vaccine is approved for adults aged 65 and older and for people aged 5 to 64 who have at least one underlying condition that increases their risk of severe COVID-19. The XFG formulation follows FDA guidance aimed at more closely matching currently circulating variants.

According to the companies, supporting data showed strong immune responses against several circulating SARS-CoV-2 variants, including XFG, XFG.1.1, NB.1.8.1, PQ.17 and PQ.2.8.1. Pfizer and BioNTech said shipments will begin immediately, with the vaccine expected to reach U.S. pharmacies, hospitals and clinics within days.

The approval is commercially positive for both companies because it keeps their COVID-19 vaccine franchise positioned for the upcoming U.S. vaccination season. However, the financial impact will ultimately depend on vaccination rates and demand for updated COVID-19 shots.
Pfizer and Valneva Lyme Disease Vaccine Application Accepted for EMA Review

Pfizer (NYSE: PFE) and Valneva (NASDAQ: VALN) announced Friday that the European Medicines Agency has validated the Marketing Authorization Application for their experimental Lyme disease vaccine, marking a significant regulatory milestone for the program.

The EMA validation means the agency will now begin formally assessing PF-07307405, a six-valent vaccine designed to prevent Lyme disease in people aged five years and older. The application is supported by results from the Phase 3 VALOR trial.

## Phase 3 Trial Shows More Than 70% Efficacy

In the VALOR trial, the vaccine demonstrated efficacy of more than 70% in preventing Lyme disease and was generally well tolerated, with no safety concerns identified. The randomized study included 9,437 participants aged five and older across the U.S., Canada and Europe.

PF-07307405 targets six variants of outer surface protein A, or OspA, found on the Borrelia bacteria responsible for Lyme disease. The approach is designed to generate antibodies that prevent the bacteria from being transmitted from an infected tick to a vaccinated person.

Potential First Lyme Disease Vaccine Currently Available to Humans

The regulatory milestone could be commercially significant because there are currently no approved human vaccines against Lyme disease. Pfizer and Valneva's candidate is the most advanced Lyme disease vaccine currently in clinical development, with two pivotal Phase 3 studies completed. ([Pfizer][1])

The potential market is substantial. Pfizer said more than 200 million people live in Lyme disease risk areas in Europe, while approximately 132,000 cases are reported annually across European countries with surveillance systems.

Pfizer and Valneva have jointly developed the vaccine under a collaboration established in 2020. If regulatory approval is ultimately secured, Pfizer will be responsible for manufacturing and commercializing the product.

EMA validation does not constitute approval, but it confirms that the application is sufficiently complete to enter the formal regulatory review process. The next major catalyst for the program will therefore be the outcome of the EMA assessment.
Pfizer Stock Slips 0.54% Despite Higher Revenue Guidance and Strong Product Growth

Pfizer (NYSE: PFE) shares slipped 0.54% on Tuesday despite reporting solid second-quarter results, raising the midpoint of its full-year revenue guidance and highlighting continued momentum from its newer product portfolio and late-stage pipeline.

Second-quarter revenue increased 3% year over year to $15.0 billion, while operational revenue growth reached 1%. Excluding COVID-19 products Comirnaty and Paxlovid, operational revenue grew 5%, supported by strong performance from recently launched and acquired products, which posted 18% operational growth. Pfizer reported a GAAP loss per share of $0.04 and adjusted EPS of $0.77, with reported results impacted by $4.3 billion in non-cash intangible asset impairment charges.

Growth Portfolio Continues to Offset COVID Declines

Pfizer's underlying business continued to strengthen as growth from key products more than offset declining COVID-related sales.

Eliquis revenue benefited from strong global demand and favorable pricing, while Padcev, the Vyndaqel family and Lorbrena all delivered strong growth. Meanwhile, Paxlovid revenue declined 95% and Comirnaty sales fell 34% as pandemic-related demand continued to normalize.

The company also emphasized continued progress in its obesity and oncology businesses, alongside several expected pivotal clinical readouts over the next 12 months.

Guidance Raised While Cost Savings Expand

Reflecting stronger-than-expected demand for non-COVID products, Pfizer raised the midpoint of its 2026 revenue guidance by $500 million to a range of $60.5 billion to $62.5 billion.

The company reaffirmed its adjusted EPS guidance of $2.80 to $3.00 despite absorbing an expected $0.10 per-share impact from its Innovent Biologics transaction. Pfizer also announced an additional $2.5 billion in anticipated productivity savings to be realized between 2027 and 2029 as part of its ongoing efficiency initiatives.

What to Watch

Despite the modest decline in the stock, investors were encouraged by Pfizer's improving underlying business performance and higher revenue outlook. Going forward, markets will closely monitor continued growth from its non-COVID portfolio, execution of its productivity initiatives, progress in obesity and oncology programs, and upcoming late-stage clinical trial results that could support the company's next phase of growth.
Pfizer (PFE) Stock Rises After FDA Expands PADCEV Plus Keytruda Approval for Muscle-Invasive Bladder Cancer

Pfizer (NYSE: PFE) shares gained about 1.1% after the U.S. Food and Drug Administration approved PADCEV in combination with Keytruda as neoadjuvant and adjuvant treatment for adults with muscle-invasive bladder cancer (MIBC), regardless of cisplatin eligibility.

The expanded approval marks the first platinum-free treatment regimen approved for MIBC across all eligible patient groups, potentially establishing a new standard of care in earlier-stage bladder cancer.

The decision was supported by results from the Phase 3 EV-304 (KEYNOTE-B15) trial, in which PADCEV plus Keytruda demonstrated significant improvements over standard chemotherapy. The combination reduced the risk of tumor recurrence, progression, or death by 47%, lowered the risk of death by 35%, and achieved a pathological complete response rate of 55.8%, compared with 32.5% for standard chemotherapy.

The approval further expands the commercial opportunity for PADCEV, which Pfizer co-develops with Astellas, following its success in advanced bladder cancer. Investors also view the label expansion as strengthening Pfizer’s oncology portfolio by extending the therapy into an earlier-stage, potentially curative treatment setting.

Key factors supporting the stock include:

* The FDA approved PADCEV plus Keytruda for muscle-invasive bladder cancer regardless of cisplatin eligibility.
* The regimen became the first platinum-free treatment approved for this patient population.
* Phase 3 data showed a 47% reduction in the risk of recurrence, progression, or death and a 35% reduction in mortality versus standard chemotherapy.
* The expanded indication broadens PADCEV’s commercial potential and reinforces Pfizer’s long-term oncology growth strategy.

The regulatory approval improved investor sentiment, helping Pfizer shares move higher during the trading session.
Pfizer Holds Steady: Solid Q1 Beat, Stock Barely Moves

Tuesday, May 5, 2026

In a sea of earnings-day volatility — Shopify down 7%, Eaton down 6.5% — Pfizer's barely-a-blip 0.27% decline today is almost a compliment. The pharmaceutical giant posted a clean Q1 2026 beat and reaffirmed full-year guidance, delivering exactly what a rebuilding Pfizer needed: no surprises.

The Numbers

Q1 revenues came in at $14.5 billion, up 5% year-over-year (2% operationally), clearing analyst expectations. Reported EPS was $0.47, while adjusted EPS of $0.75 comfortably topped the consensus. Pfizer reaffirmed its full-year 2026 guidance of $59.5–$62.5 billion in revenue and adjusted EPS of $2.80–$3.00 — unchanged from prior guidance.

The headline growth rate of 5% looks modest, but the underlying picture is considerably stronger once COVID-era products are stripped out. Excluding Comirnaty and Paxlovid — both in steep structural decline — revenues grew 7% operationally. More tellingly, revenues from Pfizer's launched and acquired products grew 22% operationally, underscoring that the portfolio transition away from COVID dependency is gaining real traction.

What's Working

The non-COVID portfolio is firing on multiple cylinders. Padcev (bladder cancer) rose 39% operationally on expanding market share. Nurtec (migraine) jumped 41%, driven by strong U.S. demand. Lorbrena (lung cancer) gained 32% on growing first-line patient share. Oncology biosimilars surged 52%, partly on one-time tailwinds but also reflecting genuine supply recovery. Eliquis (blood thinner) grew 8% globally despite some international pricing pressure. Abrysvo (RSV vaccine) also posted 31% growth internationally.

On the cost side, SI&A expenses fell 4% operationally, reflecting tighter, more targeted marketing spend — a sign of the operational discipline CFO David Denton has emphasized. R&D spending rose 12%, directed primarily at oncology and obesity pipelines, two areas CEO Albert Bourla singled out as where Pfizer expects to lead.

What's Dragging

Comirnaty (COVID vaccine) fell 59% operationally and Paxlovid dropped 63%, as COVID infections declined globally and government procurement normalized. Cost of sales as a percentage of revenue climbed to 24.6% from 20.7% a year ago, driven partly by the non-recurrence of a one-time royalty estimate adjustment in 2025 and FX headwinds. Adjusted EPS of $0.75 was also down 18% from $0.92 in Q1 2025, a reminder that the earnings base built during the COVID windfall years is still unwinding.

No share repurchases are planned for 2026, as Pfizer continues to de-lever its balance sheet — a prudent but shareholder-unfriendly near-term posture.

The Takeaway

Pfizer's flat reaction is the right one. This is a company mid-transition: COVID revenues fading, a new growth engine in oncology and obesity building, and pipeline momentum — approximately 20 key pivotal studies on track to start in 2026 — beginning to show up in the numbers. Today's print doesn't resolve Pfizer's long-term story, but it doesn't complicate it either. For now, steady is good enough.
Pfizer Inc. announced it has reached settlement agreements with generic drugmakers Dexcel Pharma, Hikma Pharmaceuticals, and Cipla regarding patent litigation over its heart disease treatment VYNDAMAX. The agreements extend the drug’s U.S. patent protection to June 2031, delaying expected generic competition.

As a result, Pfizer now anticipates VYNDAMAX revenues to remain relatively stable from 2028 through mid-2031, instead of declining earlier as previously expected. The drug currently holds a strong market position, accounting for around 75% of prescriptions in its category.

The company emphasized that the outcome supports both patient access and the protection of its intellectual property, while ongoing litigation could still impact future developments.

Source: Business Wire
Bristol Myers Squibb and Pfizer announced a collaboration with Mark Cuban Cost Plus Drug Company to offer Eliquis (apixaban) directly to U.S. patients through the online platform, expanding access to the widely prescribed blood thinner.

Starting April 27, 2026, a 30-day supply of Eliquis will be available for $345, providing a lower-cost option for cash-paying patients and increasing pricing transparency. The move builds on earlier direct-to-patient initiatives aimed at improving affordability and access.

The companies said the partnership supports efforts to reduce barriers to essential medications, particularly for patients managing conditions such as atrial fibrillation and blood clots.
Business Wire
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