New York, Jan 22, 2026, 14:34 EST — Regular session
- Pfizer shares nudged up in afternoon trading as investors digested the company’s recent portfolio adjustments.
- The drugmaker plans to sell off its stake in HIV venture ViiV Healthcare, while a separate agreement secures access to Novavax’s Matrix-M vaccine ingredient.
- Policy uncertainty over U.S. vaccine guidelines has resurfaced ahead of Pfizer’s upcoming earnings.
Pfizer shares climbed Thursday after the company announced two deals highlighting its strategy to transform its business. By afternoon, the stock had gained roughly 0.8%, reaching $26.10.
Timing is crucial. Pfizer is working to stabilize its narrative after the COVID-era tailwind waned, as investors prepare for several patent expirations — the “loss of exclusivity” phase when cheaper generics typically hit sales. The company has warned that the next few years will be rough, with no revenue growth expected before 2029. 1
On the HIV front, GSK announced Pfizer is selling its 11.7% stake in ViiV Healthcare. Shionogi is stepping in, boosting its share to 21.7%, while GSK holds onto 78.3%. As part of the deal, ViiV will issue new shares to Shionogi for $2.125 billion and retire Pfizer’s stake. Pfizer will pocket $1.875 billion, and GSK will receive a $250 million special dividend. ViiV chair David Redfern said, “This agreement simplifies ViiV’s shareholder structure.” 2
Pfizer found itself back in the spotlight this week with a new vaccine-related deal. Novavax revealed it has granted Pfizer a non-exclusive license to use its Matrix‑M adjuvant for up to two disease areas. For context, an adjuvant boosts a vaccine’s immune response. Pfizer is on the hook for a $30 million upfront payment, with the deal also including milestone payments that could total $500 million, plus tiered royalties. Novavax CEO John C. Jacobs described the partnership as “exciting.” 3
The vaccine story hits a sensitive spot in the market. Reuters reported Thursday that major U.S. policy shifts under Health Secretary Robert F. Kennedy Jr. have put a damper on vaccine sentiment. Investors and pharma execs warn that changing guidelines could hurt demand. “Vaccines will not be a growth area under the current administration,” said Stephen Farrelly, ING’s global pharma and healthcare lead. Pfizer CEO Albert Bourla expressed he was “seriously frustrated,” according to the story. 4
This dynamic hits smaller, vaccine-focused companies harder, but it still shakes things up for big pharma when headlines break. Pfizer, Merck, Sanofi, and GSK all have stakes in vaccines, though their revenue streams are more diversified compared to Moderna or Novavax.
Pfizer’s jump on Thursday came after it bounced back the day before. Shares ended Wednesday up 1.45% at $25.89, still roughly 6.5% shy of their 52-week peak, according to 6 .
Some investors view the ViiV exit as a clear-cut cash grab that simplifies things by cutting down the complexity of the joint venture. Others are zeroing in on Pfizer’s next move—whether it channels the proceeds into fresh deals or leans on internal investments rather than financial tinkering.
Still, risks remain. The ViiV deal hinges on regulatory approval, and vaccine demand is unpredictable amid changing policies. Neither transaction alone alleviates the immediate pressure from looming patent expirations.
Pfizer’s next big moment is just around the corner. The company will release its fourth-quarter and full-year 2025 results on Feb. 3, with an analyst call set for 10:00 a.m. EST. Investors will be tuned in for any fresh guidance on 2026 and updates on its ongoing restructuring efforts. 5
