Pfizer raises 2026 outlook after strong third quarter

Pfizer raised its 2026 revenue and adjusted earnings forecasts after reporting third-quarter results that exceeded analyst expectations, citing demand for Eliquis and cancer medicines among the factors supporting the increase. The drugmaker now expects revenue of $62 billion to $64 billion, compared with its previous range of $60.5 billion to $62.5 billion. It lifted its adjusted earnings forecast to $2.95 to $3.05 per share from $2.80 to $3.00. The midpoint of the sales range rose by $1.5 billion. For the quarter, Pfizer reported revenue of $16.58 billion and adjusted earnings of 87 cents per share. Analysts had expected revenue of $15.87 billion and adjusted earnings of 73 cents per share. Revenue was nearly unchanged from the $16.65 billion reported a year earlier, while adjusted earnings remained at 87 cents per share. Pfizer said revenue from products launched or acquired by the company grew 32% operationally in the quarter, excluding currency effects. Sales of Eliquis, the blood thinner it shares with Bristol Myers Squibb, rose 25% operationally to $2.52 billion. The company attributed the increase to factors including higher U.S. net pricing and global demand, partly...