Pfizer Reports R&D Pipeline Progress as Next CFO Confirmed

3 November 2026 marked an important day for Pfizer: the pharmaceutical giant reported its Q3 financial performance while confirming that interim Chief Financial Officer Cecile Guegan would take on the position permanently.

The US-based company raised its full-year 2026 revenue and earnings guidance following a strong year-to-date performance, supported by growth across its launched and acquired products and progress in its R&D pipeline.

While overall third-quarter revenues remained relatively flat year-on-year at US$16.6bn, revenue excluding COVID-19 products increased by 7% operationally, with launched and acquired products recording particularly strong growth of 32%.

Pfizer is now targeting annual revenues of US$62bn to US$64bn, up from its previous forecast of US$60.5bn to US$62.5bn.

Albert Bourla, Chair and CEO of Pfizer, struck a positive note in a LinkedIn post announcing the results.

“Our third quarter results show strong momentum. We beat expectations, raised our full year guidance, and grew our launched and acquired products 32% operationally,” he writes.

Albert continues: “What comes next is even more exciting. Science is moving faster than ever, and you can see it in our pipeline across oncology, obesity, inflammation and immunology, and vaccines.”

Pfizer focuses on building its R&D pipeline

Developing a robust clinical pipeline, including through acquisitions and licensing agreements, has been a key priority for Pfizer as it looks to offset the impact of patent expirations and declining sales of COVID-19 products.

Its US$43bn acquisition of cancer biotech firm Seagen in 2023 and subsequent US$10bn acquisition of obesity drug developer Metsera in 2025 reveal the scale of its investment in future growth opportunities.

The strategy is translating into commercial performance, with several products recording strong year-on-year revenue increases.

Revenues for oncology medicine Padcev, for example, grew 55% operationally to US$720m, while blood thinner Eliquis recorded 25% operational revenue growth to approximately US$2.5bn.

Other notable performers included migraine treatment Nurtec ODT/Vydura, which grew 33%, and lung cancer medicine Lorbrena, up 43%.

Pfizer's research and development activities are also advancing, with the company reporting eight key pivotal study starts, one pivotal readout and two regulatory decisions during the quarter. 

Chris Boshoff, Pfizer's Chief Scientific Officer and President of Research & Development, writes in a LinkedIn post on the company's Q3 2026 R&D performance: “Pfizer’s R&D engine is delivering progress across all four of our therapeutic areas.”

He continues: “We are putting our resources behind the opportunities with the greatest potential for patients, and we are advancing them as quickly as the science allows.”

Chris also highlighted the regulatory approvals, clinical data readouts and pivotal studies expected over the next 12 months, providing a series of potential milestones for the company's pipeline.

Cecile Guegan confirmed as permanent CFO

Alongside its financial results, Pfizer announced that Cecile Guegan has been unanimously appointed Chief Financial Officer and Executive Vice President, effective 1 November 2026. 

She had been serving as interim CFO since 16 August 2026, after previous CFO Dave Denton departed Pfizer to take on Nike’s CFO role, overseeing the company's financial operations, execution and strategic planning.

Cecile brings more than 25 years of pharmaceutical finance experience to the position. Before taking on the interim CFO role, she was responsible for the financial operations and reporting of Pfizer's biopharmaceutical business across its therapeutic areas and international markets.

As permanent CFO, she will oversee Pfizer's financial management, including audit, treasury, investor relations, tax, operational planning and analysis and business finance.

Commenting on her appointment, Cecile says: “I am honoured to step into this role to continue positioning Pfizer for durable long-term growth and shareholder value creation.

“My focus remains on executing a disciplined approach to capital allocation while making targeted investments today to drive revenue growth later in the decade and beyond.”

Pfizer - key partners

Astellas Pharma

CEO: Naoki Okamura | HQ: Tokyo, Japan

Astellas is a Japanese pharmaceutical company specialising in oncology, urology, immunology and other areas of unmet medical need. Its partnership with Pfizer centres on Padcev, an antibody-drug conjugate used to treat advanced bladder cancer. The companies jointly develop and commercialise the treatment, sharing commercial responsibilities across international markets. Padcev has become an important contributor to Pfizer's oncology portfolio.

BioNTech

CEO: Prof. Uğur Şahin (from February 2027, Guido Oelkers) | HQ: Mainz, Germany

BioNTech is a German biotechnology company specialising in mRNA-based medicines, immunotherapies and innovative cancer treatments. Its partnership with Pfizer resulted in Comirnaty, one of the world's first authorised COVID-19 vaccines. The collaboration combines BioNTech's mRNA technology and vaccine research expertise with Pfizer's global clinical development, manufacturing and commercial capabilities. The companies continue to work together on the vaccine.