We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
How Pfizer's Oncology Portfolio Is Shaping Up Before Q1 Results
Read MoreHide Full Article
Key Takeaways
Pfizer's oncology unit, ~27% of revenues, is expected to post a mixed Q1 performance
PFE growth likely driven by Xtandi, Lorbrena and biosimilars, offsetting Ibrance and Inlyta declines.
Seagen ADCs show mixed trends, while pipeline updates and late-stage candidates remain in focus.
Pfizer (PFE - Free Report) is one of the largest and most successful drugmakers in oncology with an established presence in breast, genitourinary, thoracic, gastrointestinal cancer and blood cancers. It boasts a strong portfolio of approved cancer medicines as well as a robust pipeline of cancer candidates with a focus on multiple modalities, including small molecules, antibody-drug conjugates (ADCs) and immuno-oncology biologics.
The addition of Seagen in 2023 strengthened its position in oncology by adding four ADCs — Adcetris, Padcev, Tukysa and Tivdak.
Oncology sales comprise around 27% of its total revenues. Its oncology revenues grew 8% in 2025. Investors will be keen to know how its oncology segment performed in the first quarter when the company announces results on May 5.
Pfizer’s oncology sales in the first quarter are expected to have been driven by higher sales of key drugs like Xtandi, Lorbrena and the Braftovi-Mektovi combination, which should make up for declining sales of drugs like Ibrance. Sales of Ibrance are likely to have been hurt by generic entry in select international markets and the impact of Medicare Part D redesign in the United States. Sales of Inlyta are also likely to have declined. New drug, Elrexfio, is also expected to have contributed to growth.
As regards the antibody-drug conjugates or ADCs added from 2023’s Seagen acquisition, competitive pressure in the United States is likely to have hurt sales of Adcetris, while strong demand trends are likely to have benefited Padcev’s sales.
Pfizer has ventured into the oncology biosimilars space and markets six biosimilars for cancer. Its oncology biosimilars are expected to make a significant contribution to sales growth in the first quarter of 2026, similar to the past few quarters.
Pfizer is likely to provide updates on its oncology candidates in late-stage development, like atirmociclib and sigvotatug vedotin, on the first-quarter conference call. Regulatory application seeking approval of another key cancer candidate, sasanlimab, is under review in the EU for the treatment of BCG-naive high-risk non-muscle invasive bladder cancer, while that for vepdegestrant is under review in the United States for the treatment of ER+/HER2- metastatic breast cancer.
On the previous earnings conference call, Pfizer highlighted development plans for PF-08634404, a dual PD-1 and VEGF inhibitor, which it in-licensed from China's 3SBio last year. Pfizer plans to start four pivotal studies for PF-08634404 in 2026. An update is expected on the first-quarter conference call.
Competition in the Oncology Space
Pfizer is one of the largest drugmakers of cancer medicines. Other large players in the oncology space are AstraZeneca (AZN - Free Report) , Merck (MRK - Free Report) , J&J (JNJ - Free Report) and Bristol-Myers.
For AstraZeneca, oncology sales now comprise around 44% of total revenues. Sales in its oncology segment rose 14% at constant exchange rate (CER) in 2025. AstraZeneca’s strong oncology performance was driven by medicines such as Tagrisso, Lynparza, Imfinzi, Calquence and Enhertu (in partnership with Daiichi Sankyo).
Merck’s key oncology medicines are PD-L1 inhibitor, Keytruda and PARP inhibitor, Lynparza, which it markets in partnership with AstraZeneca. Keytruda, approved for several types of cancer, alone accounts for more than 50% of Merck’s pharmaceutical sales. Keytruda recorded sales of $31.7 billion in 2025, up 7% year over year.
J&J’s oncology sales now comprise around 27% of its total revenues. Its oncology sales rose 20.9% on an operational basis in 2025 to $25.4 billion. While J&J’s older cancer drugs, multiple myeloma treatment Darzalex and prostate cancer drug Erleada, are key contributors to its top-line growth, new drugs such as Carvykti, Tecvayli, Talvey and Rybrevant, plus Lazcluze, hold the key to long-term growth.
Bristol-Myers’ key cancer drug is PD-L1 inhibitor, Opdivo, which accounts for around 21% of its total revenues. Opdivo’s sales rose 8% to $10 billion in 2025.
PFE’s Price Performance, Valuation and Estimates
Pfizer’s stock has risen 24.1% in the past year compared with an increase of 27.1% for the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, Pfizer appears attractive relative to the industry and is trading below its five-year mean. Going by the price/earnings ratio, Pfizer’s shares currently trade at 9.24 forward earnings, significantly lower than 17.26 for the industry as well as the stock’s five-year mean of 10.08.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 earnings has been stable at $2.97 per share, while that for 2027 has been stable at $2.82 per share over the past 60 days.
View the Zacks #1 Rank List
Image: Bigstock
How Pfizer's Oncology Portfolio Is Shaping Up Before Q1 Results
Key Takeaways
Pfizer (PFE - Free Report) is one of the largest and most successful drugmakers in oncology with an established presence in breast, genitourinary, thoracic, gastrointestinal cancer and blood cancers. It boasts a strong portfolio of approved cancer medicines as well as a robust pipeline of cancer candidates with a focus on multiple modalities, including small molecules, antibody-drug conjugates (ADCs) and immuno-oncology biologics.
The addition of Seagen in 2023 strengthened its position in oncology by adding four ADCs — Adcetris, Padcev, Tukysa and Tivdak.
Oncology sales comprise around 27% of its total revenues. Its oncology revenues grew 8% in 2025. Investors will be keen to know how its oncology segment performed in the first quarter when the company announces results on May 5.
Pfizer’s oncology sales in the first quarter are expected to have been driven by higher sales of key drugs like Xtandi, Lorbrena and the Braftovi-Mektovi combination, which should make up for declining sales of drugs like Ibrance. Sales of Ibrance are likely to have been hurt by generic entry in select international markets and the impact of Medicare Part D redesign in the United States. Sales of Inlyta are also likely to have declined. New drug, Elrexfio, is also expected to have contributed to growth.
As regards the antibody-drug conjugates or ADCs added from 2023’s Seagen acquisition, competitive pressure in the United States is likely to have hurt sales of Adcetris, while strong demand trends are likely to have benefited Padcev’s sales.
Pfizer has ventured into the oncology biosimilars space and markets six biosimilars for cancer. Its oncology biosimilars are expected to make a significant contribution to sales growth in the first quarter of 2026, similar to the past few quarters.
Pfizer is likely to provide updates on its oncology candidates in late-stage development, like atirmociclib and sigvotatug vedotin, on the first-quarter conference call. Regulatory application seeking approval of another key cancer candidate, sasanlimab, is under review in the EU for the treatment of BCG-naive high-risk non-muscle invasive bladder cancer, while that for vepdegestrant is under review in the United States for the treatment of ER+/HER2- metastatic breast cancer.
On the previous earnings conference call, Pfizer highlighted development plans for PF-08634404, a dual PD-1 and VEGF inhibitor, which it in-licensed from China's 3SBio last year. Pfizer plans to start four pivotal studies for PF-08634404 in 2026. An update is expected on the first-quarter conference call.
Competition in the Oncology Space
Pfizer is one of the largest drugmakers of cancer medicines. Other large players in the oncology space are AstraZeneca (AZN - Free Report) , Merck (MRK - Free Report) , J&J (JNJ - Free Report) and Bristol-Myers.
For AstraZeneca, oncology sales now comprise around 44% of total revenues. Sales in its oncology segment rose 14% at constant exchange rate (CER) in 2025. AstraZeneca’s strong oncology performance was driven by medicines such as Tagrisso, Lynparza, Imfinzi, Calquence and Enhertu (in partnership with Daiichi Sankyo).
Merck’s key oncology medicines are PD-L1 inhibitor, Keytruda and PARP inhibitor, Lynparza, which it markets in partnership with AstraZeneca. Keytruda, approved for several types of cancer, alone accounts for more than 50% of Merck’s pharmaceutical sales. Keytruda recorded sales of $31.7 billion in 2025, up 7% year over year.
J&J’s oncology sales now comprise around 27% of its total revenues. Its oncology sales rose 20.9% on an operational basis in 2025 to $25.4 billion. While J&J’s older cancer drugs, multiple myeloma treatment Darzalex and prostate cancer drug Erleada, are key contributors to its top-line growth, new drugs such as Carvykti, Tecvayli, Talvey and Rybrevant, plus Lazcluze, hold the key to long-term growth.
Bristol-Myers’ key cancer drug is PD-L1 inhibitor, Opdivo, which accounts for around 21% of its total revenues. Opdivo’s sales rose 8% to $10 billion in 2025.
PFE’s Price Performance, Valuation and Estimates
Pfizer’s stock has risen 24.1% in the past year compared with an increase of 27.1% for the industry.
From a valuation standpoint, Pfizer appears attractive relative to the industry and is trading below its five-year mean. Going by the price/earnings ratio, Pfizer’s shares currently trade at 9.24 forward earnings, significantly lower than 17.26 for the industry as well as the stock’s five-year mean of 10.08.
The Zacks Consensus Estimate for 2026 earnings has been stable at $2.97 per share, while that for 2027 has been stable at $2.82 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.