In its quarterly report, Pfizer announced an upward revision of its adjusted EPS target range for FY 2025, now anticipating it to be between $3 and $3.15, up from $2.90 to $3.10. nb: PMT -1%.

This upward revision takes into account "strong performance since the beginning of the year, continued confidence in its business, progress in ongoing cost improvement measures, and an improvement in the effective tax rate."

The latter is now expected to be 11%, down from 13% previously. Pfizer has lowered its R&D expenditure forecast to between $10bn and $11bn (from $10.4bn to $11.4bn) and maintained its revenue forecast at between $61bn and $64bn.

In Q3 2025, the pharmaceutical giant posted adjusted EPS down 18% to $0.87, which was better than expected, with revenues down 6% to $16.65bn (-7% in operational terms).