Pfizer Raises 2026 Forecasts on Strong Eliquis and Cancer-Drug Demand

Pfizer raised its 2026 sales forecast to $62 billion to $64 billion, up from $60.5 billion to $62.5 billion, and its adjusted earnings-per-share forecast to $2.95 to $3.05, up from $2.80 to $3.00. Total revenue was $16.58 billion, topping estimates of $15.87 billion.

The company credited strong demand for the blood thinner Eliquis and for its cancer drugs, which have helped offset pricing pressure and patent losses elsewhere in the portfolio. The results landed as investors watch whether big drugmakers can sustain growth while facing political pressure over U.S. drug prices.

Pfizer also named Cecile Guegan as chief financial officer effective November 1, succeeding Dave Denton. The leadership change comes at a moment when the company is balancing research spending, cost cuts and shareholder returns.

Shares in large pharmaceutical companies have been volatile through 2026 as tariffs, pricing negotiations and pipeline setbacks have all weighed on the sector. Pfizer's raised guidance was read by analysts as a sign that its core franchises are holding up better than feared.

The company said the outlook reflects current trading conditions and its existing portfolio, and warned that the usual risks — regulatory decisions, competition and currency moves — could still move results. Investors will look to the next quarterly update for confirmation that the momentum is lasting.