NEW YORK, January 1, 2026, 05:20 ET — Market closed.
- Pfizer shares last closed down 0.36% at $24.90 on Dec. 31.
- Industry data showed Pfizer among drugmakers lifting U.S. list prices for 2026, including on Comirnaty.
- TD Cowen reiterated a Hold on Pfizer with a $30 target; investors are watching Jan. 2 trading and Feb. 3 earnings.
Pfizer Inc (NYSE:PFE) is in focus after annual U.S. drug pricing changes for 2026 included increases on some of its medicines, a politically sensitive topic heading into the new year. Pfizer shares last closed down 0.36% at $24.90 on Wednesday after trading between $24.88 and $25.02, with about 29.4 million shares changing hands.
The price resets typically arrive on Jan. 1, when manufacturers post higher list prices — the sticker price before rebates — for many branded drugs. This year’s round is landing as the Trump administration keeps pressure on drugmakers to curb U.S. medicine costs.
For Pfizer, pricing has become a key lever as it tries to steady revenue after demand for COVID-era products cooled. Investors are weighing whether higher posted prices translate into higher net revenue after negotiations, or invite tougher pushback from Washington and payers.
Data from healthcare research firm 3 Axis Advisors showed drugmakers plan to raise list prices on at least 350 branded drugs for 2026, up from more than 250 at the same point last year, with the median hike around 4%. Pfizer plans increases on about 80 drugs, including a 15% rise for its COVID vaccine Comirnaty, as well as hikes for cancer drug Ibrance, migraine pill Nurtec and COVID treatment Paxlovid, the data showed. Some companies also cut prices, including a more than 40% reduction for Boehringer Ingelheim and Eli Lilly’s diabetes drug Jardiance tied to Medicare price negotiations.
List-price moves do not capture what drugmakers actually take home. Rebates to pharmacy benefit managers and other discounts can pull net prices lower, even when the headline list price rises.
Analysts have stayed cautious on the stock. Steve Scala at TD Cowen reiterated a Hold rating and a $30 price target on Tuesday, saying Pfizer’s current outlook “is not the basis for top performance in Pharma stocks.” 1
On charts, traders have treated $25 as a near-term line, with Wednesday’s $24.88 low a nearby marker on the downside. A push through $25.02 would put the stock back above Wednesday’s range and suggest buyers are returning.
U.S. markets are closed on Thursday for New Year’s Day and resume regular trading on Friday. 2
When trading resumes, investors will gauge whether the pricing headlines spark broader scrutiny of the sector or fade into the post-holiday flow. They will also watch for further pricing updates that often arrive in early January.
Macro data may matter as much as company news for defensive groups like pharmaceuticals, since interest-rate expectations influence dividend-heavy stocks. The December U.S. jobs report is scheduled for Jan. 9, followed by the CPI inflation report for December on Jan. 13, and the Federal Reserve’s next policy meeting is slated for Jan. 27-28. 3
Pfizer’s next major catalyst is its fourth-quarter and full-year 2025 results, with a conference call scheduled for Feb. 3. Traders will focus on any update to 2026 guidance, including assumptions for Comirnaty and Paxlovid sales and for net pricing across the portfolio. 4
