Pfizer Inc. reported first-quarter 2025 revenues of $13.72 billion, an 8% decrease from the prior-year period, falling below Wall Street estimates. The decline was primarily driven by a 76% drop in sales of its COVID-19 antiviral treatment, Paxlovid, which generated $491 million.
Despite the revenue miss, Pfizer exceeded profit estimates, reporting adjusted diluted earnings per share (EPS) of $0.92. Reported net income was $2.97 billion, or $0.52 per share, compared to $3.12 billion, or $0.55 per share, in Q1 2024.
The company announced an expansion of its cost-cutting efforts, now expecting approximately $7.7 billion in total net cost savings by the end of 2027 from two separate programs. This includes an additional $1.2 billion in savings, primarily from selling, informational, and administrative expenses, and $500 million from R&D reorganization, which will be reinvested.
Pfizer maintained its full-year 2025 revenue guidance of $61.0 billion to $64.0 billion and adjusted diluted EPS guidance of $2.80 to $3.00. The guidance reflects an estimated $1 billion unfavorable impact from the IRA Medicare Part D redesign and $150 million in costs from existing tariffs, but does not include potential impacts from future trade policy changes.
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