New York, January 20, 2026, 14:46 EST — During the regular session
- Pfizer shares slipped in afternoon trading after news of a $1.9 billion exit from its HIV venture ViiV weighed on sentiment
- A separate licensing agreement from Novavax brings vaccine “booster” technology into focus just before Pfizer’s upcoming results
Pfizer (PFE) shares slipped 0.7% to $25.47 Tuesday afternoon, after GSK and Shionogi announced Pfizer will exit HIV-focused ViiV Healthcare in a $1.9 billion deal. Pfizer is set to get $1.88 billion for its 11.7% stake, with the deal expected to close in Q1 pending regulatory approval. That day, the stock fluctuated between $25.11 and $25.65. ViiV chair David Redfern called the move a way to “simplify the shareholder structure.” Pfizer has also cautioned investors that 2026 could be challenging, as COVID-19 product sales decline, pricing pressures mount, and key patents expire. (Reuters)
The cash isn’t game-changing, but it marks another clear move in Pfizer’s cleanup — shedding assets and shifting focus toward what’s ahead, not what faded post-pandemic.
Investors are reading between the lines: Pfizer continues hunting for tools and partners, while the market demands more than just bolt-ons. Here, “strategic” doesn’t always translate into premium pricing.
Novavax revealed Pfizer has secured a non-exclusive license for its Matrix‑M adjuvant, which enhances immune response, for use in vaccines targeting up to two infectious diseases. Novavax is set to receive $30 million upfront in Q1, plus up to $500 million in milestones and mid‑single‑digit royalties. CEO John Jacobs told Reuters demand for Matrix‑M is “multiples more” than anything seen during his time at the company. Chief Strategy Officer Elaine O’Hara emphasized its aluminum‑free profile, calling it “a very, very robust alternative” amid growing scrutiny of adjuvants from allies of U.S. Health Secretary Robert F. Kennedy Jr. Following the news, Novavax shares climbed nearly 7%, with H.C. Wainwright analysts noting the deal’s economics closely resemble those of Novavax’s prior licensing pact with Sanofi. (Reuters)
Pfizer’s drop was mild compared to the wider market slump, with the S&P 500 and Nasdaq hitting their lowest levels in a month. Investors came back after the long weekend, digesting President Donald Trump’s renewed tariff threats on Europe. Charlie Ripley, senior investment strategist at Allianz Investment Management, described the mood as “environments of uncertainty” that push markets toward risk-off behavior. (Reuters)
Pfizer’s numbers won’t budge right away. The ViiV cash lands after the market closes, and the Novavax licence remains just optionality — interesting on paper, but far from delivering sales anytime soon.
Execution remains the main risk. Pfizer still needs regulatory approval for the ViiV overhaul, and it hasn’t clarified which diseases it plans to target with Matrix‑M. That leaves investors guessing how soon any licensed technology will turn into an actual program.
Pfizer will release its fourth-quarter 2025 results and hold its quarterly corporate performance webcast on Feb. 3 at 10 a.m. ET. The event is expected to bring 2026 priorities into focus and could reveal new moves in its portfolio. (Pfizer)
