NEW YORK, Jan 2, 2026, 09:18 ET — Premarket
- Pfizer shares were down about 0.4% in premarket trading.
- A Reuters report said Pfizer plans list price increases on roughly 80 medicines for 2026, including its COVID-19 vaccine Comirnaty.
- Investors are watching U.S. drug-pricing pressure and Pfizer’s Feb. 3 results update.
Pfizer Inc shares fell 0.4% to $24.90 in premarket trading on Friday after a Reuters report said the drugmaker plans to raise U.S. list prices on around 80 medicines in 2026. 1
The pricing moves matter now because January is when drugmakers typically reset U.S. list prices, a closely watched “sticker price” that can shape political scrutiny and payer negotiations.
They also land as the Trump administration presses manufacturers to lower U.S. drug costs, putting any annual price round under a brighter spotlight than in prior years.
A drug’s list price is the published price before rebates and other discounts. Those rebates are often negotiated with pharmacy benefit managers, the middlemen that manage prescription benefits for insurers and employers.
Reuters, citing data provided by healthcare research firm 3 Axis Advisors, said drugmakers plan to raise list prices on at least 350 branded medicines for 2026, up from more than 250 at the same point last year, with a median increase of about 4%.
Pfizer’s increases include cancer drug Ibrance, migraine pill Nurtec and COVID-19 treatment Paxlovid, along with some hospital-administered drugs, Reuters reported. It said most of Pfizer’s increases are below 10%, including a 15% hike for Comirnaty.
Pfizer said in a statement it adjusted the average list price of its innovative medicines and vaccines for 2026 below the overall rate of inflation, and that the increase supports investment and higher business costs, the report said.
Peers were also active. Reuters said GSK plans to lift prices on around 20 drugs and vaccines by 2% to 8.9%, while Sanofi and Novartis did not immediately respond to requests for comment.
Some manufacturers are cutting prices at the same time. Reuters reported list-price reductions on about nine drugs, including a more than 40% cut for Boehringer Ingelheim and Eli Lilly’s diabetes drug Jardiance, after the U.S. government negotiated a lower Medicare price for 2026.
Pfizer has struggled to convince investors it can return to sustained growth as pandemic-era demand for its COVID products fades and patents on some medicines near expiry. “This stock is unlikely to break out of its current mid-20s price range until investors are convinced of a growth trajectory,” Bernstein analyst Courtney Breen said in December. 2
In December, Pfizer forecast 2026 revenue of $59.5 billion to $62.5 billion and adjusted diluted earnings per share of $2.80 to $3.00, citing headwinds from lower COVID-related sales and products facing loss of exclusivity, when patents expire and lower-cost competition typically follows. 3
The next major catalyst is Pfizer’s fourth-quarter and full-year 2025 performance report and analyst call scheduled for Feb. 3. Investors will look for updates on demand trends, pricing commentary and whether cost cuts and newer products can offset pressure from COVID declines and patent expirations. 4
