Pfizer has raised its forecasts for the full year after demand for its cancer medicines and its blockbuster blood thinner Eliquis proved stronger than expected, giving one of the world’s largest drugmakers a brighter outlook for 2026.
The United States company now expects annual sales of between $62 billion and $64 billion, up from a previous range of $60.5 billion to $62.5 billion. On an adjusted basis, it expects earnings per share of $2.95 to $3.05 this year, compared with $2.80 to $3.00 previously. Both new ranges sit above the middle of analysts’ expectations, which had centred on profit of $2.96 per share and revenue of $62.17 billion.
The upgrade followed a stronger quarter than the market had pencilled in. Total revenue came in at $16.58 billion, ahead of estimates of $15.87 billion. Eliquis, used to reduce the risk of strokes and blood clots, remains one of Pfizer’s most important products, and its continued strength, alongside cancer drugs, did much of the work in the quarter.
For investors, the result matters beyond a single quarter. Pfizer, like other large pharmaceutical groups, faces a familiar problem: patents on some of its biggest-selling medicines will expire in the coming years, opening them to cheaper competition. The company has responded by turning to licensing deals and acquisitions to replenish its pipeline and drive growth beyond 2028, when that pressure intensifies.
The raised guidance suggests that strategy, combined with the current portfolio, is holding up for now. It does not, by itself, resolve the patent question, and the test for Pfizer will be whether new products and deals can replace the revenue that established drugs will eventually lose.
Separately, Pfizer named Cecile Guegan as its new chief financial officer, succeeding Dave Denton, who left the company in August to take a similar role at Nike. Her appointment took effect on 1 November.
This article rests on a single Reuters report of Pfizer’s results and forecasts, and no second source has been cited for the figures above.
Note: the featured image is a file photo of the main entrance to Pfizer’s former world headquarters in New York, taken in 2008, not a photograph of Tuesday’s results announcement.
Sources: Reuters, “Pfizer raises 2026 forecasts on strong demand for Eliquis, cancer drugs”, 3 November 2026, https://www.reuters.com/business/healthcare-pharmaceuticals/pfizer-raises-2026-forecast-strong-demand-blood-thinner-eliquis-2026-11-03/
