Pfizer increased list prices for about 80 of its products, with the changes taking effect on January 1, 2026. The company’s announcement comes amid a broader industry trend in which roughly 350 branded drugs are slated for price hikes at the start of the year, but Pfizer’s own increase applies to a subset of its portfolio.
The price increases span key therapeutic areas. Oncology drugs such as Ibrance see modest hikes, while the migraine treatment Nurtec and the COVID‑19 antiviral Paxlovid also rise. The COVID‑19 vaccine Comirnaty receives a 15% increase, and the median price increase across the affected drugs is about 4%. These adjustments reflect Pfizer’s strategy to maintain pricing power while addressing rising production and regulatory costs.
The price hikes follow the Trump administration’s most‑favoured‑nation agreements, which did not require companies to freeze or lower list prices. Pfizer stated that the increases are necessary to support ongoing investments in research and development and to cover increased operating costs, rather than a direct response to the MFN agreements. The company emphasized that the changes are modest and aimed at sustaining innovation.
For 2026, Pfizer projected full‑year revenue of $59.5 billion to $62.5 billion and adjusted diluted earnings per share of $2.80 to $3.00, slightly below the prior guidance of $62.0 billion revenue and $2.90 to $3.10 EPS. The guidance reflects an expected decline in COVID‑19 product sales and upcoming patent expirations, but also signals confidence in maintaining profitability through cost discipline and strategic investments in obesity and oncology pipelines.
Investors focused on the guidance rather than the price hikes, noting that the modest increases are part of a broader strategy to fund new medicines and preserve dividend commitments amid revenue pressures. The company’s outlook suggests a cautious but steady approach to growth, balancing short‑term revenue impacts with long‑term pipeline development.
CEO Albert Bourla said the price increases are modest and designed to sustain innovation, adding, “We are committed to delivering new medicines while ensuring the financial resources needed to support our research and development pipeline.”
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