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Pfizer and Gilead vie on growth as COVID demand softens
Pfizer cut its 2026 forecast for COVID products to about $4.0 billion, but raised the midpoint of its total revenue guidance by $500 million on stronger non-COVID sales.
Yahoo Finance frames the near-term test for Pfizer and Gilead as their next growth phase after COVID-era products, with Pfizer working to broaden results beyond its former blockbusters and Gilead’s performance still tied more heavily to HIV. For Pfizer, the focus is on non-COVID momentum. Revenue excluding Comirnaty and Paxlovid grew 5% operationally, while launched and acquired products generated $3.2 billion and rose 18% operationally, including Padcev revenue up 23% operationally to $667 million and Vyndaqel family revenue rising to $1.76 billion, up 8% operationally. Pfizer is also adjusting its COVID outlook. It lowered its 2026 COVID-product forecast from roughly $5.0 billion to about $4.0 billion after low infection levels weighed on Paxlovid utilization, and the company’s stronger-than-expected non-COVID sales helped lift the midpoint of its total revenue guidance by $500 million. On costs, Pfizer expects about $6.7 billion in savings through 2029 from its cost-realignment program, plus about $3.0 billion from a separate manufacturing-optimization effort, for anticipated combined savings of roughly $9.7 billion. The article contrasts this with Gilead’s faster underlying growth, including product sales excluding Veklury up 10% to $7.6 billion and HIV sales up 12% to $5.7 billion, with Biktarvy revenue increasing and Descovy sales climbing.