New York, Jan 13, 2026, 15:07 EST — Regular session.
- Pfizer shares slipped roughly 0.6% in afternoon trading
- At the JPM conference, CEO Albert Bourla highlighted a cash-pay obesity market and promised quicker clinical timelines
- Investors await the Feb. 3 results for insights and updates on the pipeline
Pfizer shares dipped 0.6% to $25.12 by mid-afternoon Tuesday, continuing a volatile stretch for the drugmaker as investors digested its recent comments on obesity treatments. The stock fluctuated between $24.98 and $25.42 during the session.
The selling comes as CEO Albert Bourla pushes to sharpen Pfizer’s post-COVID growth narrative and justify its spending on new drugs. At Monday’s J.P. Morgan Healthcare Conference, Bourla likened the potential consumer demand for obesity meds to the early surge in Viagra sales and admitted Pfizer underestimated how quickly the “cash-pay” market—patients paying out of pocket—would take off. He said Pfizer aims to launch 10 Phase 3 trials from its Metsera obesity portfolio by the end of 2026; Eli Lilly and Novo Nordisk currently dominate the market. Pfizer doesn’t expect revenue growth to return before 2029. 1
Why it matters now: Pfizer is scrambling to offset fading pandemic-era revenues and a tough run of patent expirations. Meanwhile, the market is quick to back clear winners in weight loss. This is also a test of credibility—investors have heard these promises before.
Bourla, in a fireside chat with JPMorgan analyst Christopher Schott, said Pfizer plans to push forward while collecting more data on monthly dosing and combination strategies. “You never know when the box opens,” he remarked, adding the company is “very confident” and aiming for a ’28 launch. He also suggested investors haven’t fully valued Metsera and other pipeline projects yet, highlighting a blend of oncology and specialty drug programs that he expects will fuel a pickup later this decade. 2
The obesity battle is intensifying. On Tuesday, Amgen reported that its experimental drug MariTide helped trial participants sustain weight loss with reduced or less frequent dosing in an extension study. This keeps the spotlight on longer-acting injections that could rival weekly treatments like Lilly’s Zepbound and Novo’s Wegovy. 3
Pfizer faces a key challenge: turning trial promise into commercial success with fewer hiccups. It must speed up enrollment, avoid safety setbacks, and offer something that stands out in a crowded market.
The downside is clear. Late-stage trials drag on and cost a fortune. Side effects can derail even the most promising weight-loss drugs. Plus, demand might plunge if competitors offer simpler dosing, cheaper options, or better tolerability.
Pfizer’s earnings report arrives Feb. 3 before the market opens. Investors will focus on any changes to guidance and specifics around the Metsera program’s costs and expected returns. 4
For now, traders remain tuned to obesity news emerging from the J.P. Morgan meeting, while also watching to see if Pfizer’s stock can hold steady without new data.
