Pfizer Q1 revenue up 5% on Padcev, Eliquis strength; $600M Metsera synergies targeted

Filed May 5, 2026 · Period ending March 29, 2026 · Compared to 10-Q May 5, 2025 · ~1 min read

Key Changes

• high

  New U.S. tariffs on imported pharmaceuticals (up to 100% duty) take effect July 31, 2026. Pfizer negotiating exemptions in exchange for onshoring manufacturing commitments, but final agreement pending.

  MD&A: Operating Environment verify on EDGAR →
• high

  Eliquis grew 8% operationally despite Medicare negotiated pricing starting Jan 1, 2026, suggesting demand offsets price cuts. Ibrance, Xtandi pricing negotiations follow in 2027-2028.

  MD&A: Product Revenue verify on EDGAR →
• high

  Metsera acquisition integration targets $600M annual cost synergies by end of 2026, requiring $700M one-time costs through 2027. Combined with prior restructuring, total savings reach $5.7B.

  MD&A: Cost Reduction Programs verify on EDGAR →