Pharmaceuticals
Pfizer's Q2 FY2026 revenue grew 3% to $15.0 billion, but a $3 billion impairment and legal charge drove a net loss of $248 million, even as operating cash flow surged 97% year-over-year.
Key risk: Patent Expiries and Loss of Exclusivity
Pfizer faces a significant revenue headwind from patent expirations, with an expected unfavorable impact of approximately $1.1 billion in 2026, and the rate of revenue reduction is expected to accelerate through 2030.
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