Updated: Pfizer raises 2026 performance forecast due to strong demand for "Alcure" and cancer drugs

Full details added

Reuters, November 3 - Pfizer (PFE.N) raised its annual profit and revenue forecasts on Tuesday, benefiting from strong demand for its cancer drugs and the blockbuster anticoagulant Eliquis.

The US pharmaceutical company now expects annual sales to reach $62 billion to $64 billion, up from the previous forecast of $60.5 billion to $62.5 billion. On an adjusted basis, the company expects earnings per share this year to be $2.95 to $3.05, compared to the prior estimate of $2.80 to $3.00 per share.

Analysts had previously expected average earnings per share in 2026 to be $2.96, with annual revenue of $62.17 billion.

With patent expirations threatening the revenues of some best-selling drugs, Pfizer has turned to licensing agreements and acquisitions to supplement its product portfolio and drive growth beyond 2028.

In addition, the pharmaceutical company appointed Cecile Guegan as chief financial officer, succeeding Dave Denton. Denton left in August to take on a similar role at Nike. The company stated that Guegan's appointment will be effective November 1.

Total revenues reached $16.58 billion, exceeding the estimate of $15.87 billion.

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