NEW YORK, March 12, 2026, 17:12 EDT
Pfizer ended Thursday down 1.6% at $26.86, caught up in a sweeping selloff across U.S. equities. Oil prices jumped on intensifying Middle East tensions, and the slide hit all three major indexes—S&P 500, Dow, and Nasdaq—each losing over 1.5%.
Pfizer shares slid, with the company still working to reverse flagging growth following weaker COVID vaccine and treatment demand. Back in December, Pfizer projected its 2026 adjusted profit between $2.80 and $3.00 per share and revenue in the $59.5 billion to $62.5 billion range—numbers that fell short of what analysts were expecting on the earnings side.
Pfizer has been busy with pipeline news. Last week, China cleared its GLP-1 drug Xianweiying for weight management — these drugs are known for appetite suppression. On Monday, the company announced its eczema treatment tilrekimig hit its main target in a mid-stage study and is now headed for late-stage trials later this year. BMO’s Evan Seigerman pointed to a possible competitive edge versus Dupixent, the eczema therapy from Regeneron and Sanofi, though he noted that broader safety and placebo data will be key.
Rivals aren’t standing still. Eli Lilly announced plans Wednesday for a $3 billion investment in China over the coming decade, aiming to ramp up production for orforglipron, the company’s experimental oral pill targeting diabetes and obesity. The move highlights just how fiercely companies are pouring money into the same market that Pfizer has only recently stepped into.
Vaccine policy remains unsettled. On Wednesday, Reuters said U.S. vaccine advisers scrapped their plan to challenge mRNA COVID shots—those rely on genetic coding to trigger immunity. But Pfizer CEO Albert Bourla, speaking earlier this month, claimed the company “has a problem” with the FDA’s vaccine leadership, arguing the current director isn’t listening to staff. Reuters
Pfizer’s 2025 annual review, released Thursday, included a note from CEO Albert Bourla touting productivity and margin gains after a business overhaul. The company, Reuters noted back in February, is eyeing 2028 for its initial obesity-drug approval and intends to push over 20 obesity trials forward in 2026.
The recovery narrative isn’t on solid ground yet. This week, Pfizer failed to block a former prosecutor from participating in the generic-drug price-fixing case. Looking ahead to 2026, the company’s forecast counts on around $5 billion in COVID revenue, but management is also bracing for a $1.5 billion blow as some of its older drugs lose exclusivity and face competition from generics.
Eli Lilly finished Thursday down 2.3%. Shares of Johnson & Johnson edged 0.4% lower. Pfizer, meanwhile, closed less than 4% off its 52-week high of $27.94 set on Feb. 13, holding close to recent peaks despite Thursday’s pullback.
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