Revenue falls for Pfizer while non-COVID growth offsets decline
Pfizer (NYSE: PFE) has posted fourth-quarter 2025 revenue of about $18 billion, down 1% from the year-ago quarter, and adjusted diluted earnings per share of $0.66, up 5%. For full-year 2025, revenue declined 2% to roughly $63 billion, with adjusted diluted EPS of $3.22, up 4%.
Excluding COVID-19 vaccines and treatments, Pfizer’s operational revenue rose around 9% in the quarter, driven by respiratory syncytial virus vaccine Abrysvo (RSV vaccine), the blood thinner Eliquis (apixaban), the Prevnar franchise of pneumococcal vaccines, oncology biosimilars and the Vyndaqel (tafamidis) family.
Comirnaty (tozinameran) and antiviral Paxlovid (nirmatrelvir/ritonavir) continued to decline as vaccination rates and infection levels eased post-pandemic. These vaccines and treatments had been key revenue pillars in 2021–2023 but have normalised sharply.
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