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Research Alert: Pfe Q1 Tops Expectations, Fueled By Diversification And Solid Pipeline Progress

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

PFE delivered solid Q1 results with adj. EPS of $0.75, down 18% Y/Y but beating the consensus view of $0.72, while revenues grew 5% Y/Y to $14.5B, a solid $700M above the consensus estimate. Excluding Covid products, the underlying business showed robust 7% operational growth, with launched and acquired products delivering 22% Y/Y growth to $3.1B. We view the diversification strategy as positive, with strong oncology momentum including Padcev (+39% Y/Y to $591M) and Lorbrena (+32% Y/Y to $305M) highlighting Pfizer's evolving portfolio strength. Management reaffirmed the 2026 guidance of $59.5B-$62.5B in revenues and $2.80-$3.00 adjusted EPS. We believe the accelerating pipeline momentum is encouraging, with multiple positive Phase 3 readouts including Elrexfio and Padcev studies, plus plans to initiate approximately 20 pivotal studies in 2026. In our view, the company's focus on business development over share repurchases reflects appropriate capital allocation as Pfizer continues its post-Covid transition.

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