Pfizer Revenue Falls 8%, Reaffirms 2025 Guidance

Pfizer reported an 8% decline in first-quarter revenue to $13.7 billion, mainly due to a steep drop in Paxlovid sales, although other drugs partially offset the loss. The company missed Wall Street's revenue expectations but exceeded adjusted EPS forecasts at $0.92. Pfizer reaffirmed its 2025 guidance, projecting full-year revenue between $61 billion and $64 billion and adjusted EPS of $2.80 to $3. The company is pursuing aggressive cost-cutting, targeting $4.5 billion in net savings by 2025 and an additional $1.2 billion by 2027, with further gains expected from digital and process improvements. Ongoing challenges include Medicare Part D changes, patent cliffs, and a halted obesity drug trial, but Pfizer remains focused on pipeline development and R&D reinvestment. CEO Albert Bourla highlighted strategic agility amid uncertainty, and the outlook does not factor in possible effects from future tariffs or trade policy shifts.