Pfizer reports flat Q3 revenue as non-COVID sales rise 7% and acquired products grow 32%

Pfizer posted third‑quarter revenue of $16.6 billion, essentially unchanged from $16.7 billion a year earlier. The flat top line reflects declines in its legacy Prevnar vaccine and COVID‑related products.

Excluding COVID items, the company said revenue grew 7% on an operational basis, driven by a 32% year‑over‑year increase in sales from products it launched or acquired, including assets from Seagen and Biohaven.

New CFO Cecile Guegan highlighted the strength of non‑COVID sales, while analysts such as Guggenheim called the results solid and noted that the earnings beat the $16.15 billion forecast. They also pointed to Pfizer’s pipeline as an area that may be undervalued by investors.