Here's What to Expect From Pfizer's Non-Oncology Drugs in Q2 Earnings

Pfizer PFE is due to report second-quarter results on Aug. 5. All eyes will be on sales of Pfizer’s oncology drugs, which account for around 25% of the company’s total revenues. Pfizer’s key oncology drugs are Ibrance, Xtandi, Lorbrena, Braftovi/Mektovi, as well as antibody-drug conjugates or ADCs added from the Seagen acquisition in 2023, like Padcev.

Pfizer boasts a strong presence in other areas like internal medicine, vaccines, inflammation & immunology and rare disease, among others. Other than the Oncology segment, it operates through the Primary Care and Specialty Care segments. Let's discuss how the drugs in these two non-oncology segments are expected to perform in the second quarter.

In Primary Care, alliance revenues and direct sales from Bristol-Myers BMY-partnered Eliquis are likely to have declined due to Inflation Reduction Act or IRA-driven lower pricing, which will partially offset the benefit from higher demand. Sales of key vaccine Prevnar are also expected to have declined due to lower sales in international markets.

Pfizer records direct sales and alliance revenues from its partner, BioNTech BNTX, for its COVID-19 vaccine, Comirnaty. Revenues from Pfizer/BioNTech’s COVID vaccine, Comirnaty, rose in the first quarter due to higher revenues in the United States (due to lower expected returns and higher market share) and higher contractual deliveries in some ex-U.S. markets. It remains to be seen if the improved trend continued in the second quarter of 2025.

However, sales of its antiviral pill for COVID, Paxlovid, are likely to have declined due to lower infection rates.

Among the newer products, while sales of Nurtec ODT/Vydura are likely to have risen, those of RSV vaccine, Abrysvo, are expected to have continued to decline due to limited recommendations for RSV vaccinations issued by the US Advisory Committee on Immunization Practices.

In the Specialty Care unit, while sales of Vyndaqel are likely to have remained strong, driven by continued demand growth, sales of Xeljanz and Enbrel are likely to have declined.

PFE’s Price Performance, Valuation and Estimates

Pfizer’s stock has declined 1.8% so far this year compared with a decrease of 1.3% for the industry. 

From a valuation standpoint, Pfizer appears attractive relative to the industry and is trading below its 5-year mean. Going by the price/earnings ratio, the company’s shares currently trade at 8.20 forward earnings, lower than 14.60 for the industry and the stock’s 5-year mean of 10.85.

The Zacks Consensus Estimate for 2025 earnings has declined from $3.06 per share to $3.05 per share, while that for 2026 has gone down from $3.09 to $3.08 per share over the past 60 days.

Pfizer has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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