December 17, 2025
In Q3 2025, Pfizer reported total revenues of $16.7 billion, with $16.3 billion attributable to the Biopharma segment. This represented a 7 percent operational year-over-year decline, driven almost entirely by continued normalization of COVID-19 products. Excluding COVID-related revenue, Pfizer’s portfolio grew 4 percent operationally, underscoring the importance of its core franchises as the company navigates upcoming loss-of-exclusivity events and reshapes its long-term growth profile.
This report summarizes Pfizer’s top medicines by Q3 2025 sales and contextualizes the performance drivers visible in the quarter.
Pfizer Q3 2025 Biopharma Sales Summary
The $16.3 billion in Biopharma revenue reflects contributions from Pfizer’s major therapeutic franchises, with continued concentration in cardiovascular, vaccines, oncology, and rare disease.
Top Medicines by Q3 2025 Sales
| Product | Q3 2025 Sales (USD) | YoY Change |
| Eliquis | $2.02B | +25% |
| Prevnar | $1.74B | -3% |
| Vyndaqel franchise | $1.59B | +10% |
| Paxlovid | $1.23B | -55% |
| Comirnaty | $1.15B | -19% |
| Ibrance | $1.06B | -3% |
| Xtandi | $0.58B | +3% |
| Padcev | $0.46B | +13% |
| Nurtec ODT | $0.41B | +22% |
| Xeljanz | $0.31B | -3% |
| Abrysvo | $0.28B | -22% |
| Lorbrena | $0.27B | +30% |
| Inlyta | $0.23B | -8% |
| Adcetris | $0.22B | -20% |
| Mektovi plus Braftovi | $0.20B | +17% |
| Inflectra | $0.17B | +37% |
| Zavicefta | $0.16B | +5% |
| Enbrel | $0.15B | -9% |
| Sulperazon | $0.15B | -2% |
| Bosulif | $0.15B | -7% |
| Genotropin | $0.13B | +7% |
| Aromasin | $0.11B | +31% |
| Octagam | $0.11B | -49% |
| Orgovyx | $0.11B | +97% |
| Tukysa | $0.11B | -11% |
Note: For Prevnar and Vyndaqel, figures represent product families rather than individual SKUs.
COVID Products Continue to Normalize
Comirnaty and Paxlovid remained significant contributors but continued their post-pandemic decline. Paxlovid revenue fell 55 percent year over year, while Comirnaty declined 19 percent. Management reiterated its intention to continue investing behind both franchises to help offset upcoming loss-of-exclusivity pressures over the coming years, even as near-term demand stabilizes at lower baseline levels.
Eliquis Anchors the Portfolio Ahead of LOE
Eliquis remained Pfizer’s largest product, delivering $2.02 billion in Q3 sales and 25 percent operational growth. Performance was driven by favorable U.S. pricing dynamics and increased utilization following Medicare Part D coverage-gap changes. Despite this strength, Eliquis faces a U.S. loss of exclusivity in 2028 and key European patent expirations in 2026, making the franchise both a near-term growth engine and a long-term strategic risk.
Rare Disease and ATTR Franchise Momentum
The Vyndaqel franchise grew 10 percent year over year, supported by rising diagnosis rates in transthyretin amyloid cardiomyopathy and broad U.S. access, estimated at approximately 90 percent. While Pfizer’s once-daily oral therapy continues to dominate the ATTR market, competition is intensifying following recent approvals of Alnylam’s Amvuttra in ATTR-CM and the emergence of BridgeBio’s acoramidis with positive Phase 3 data.
Oncology: Multi-Axis Strategy Takes Shape
Pfizer’s oncology portfolio showed mixed performance in Q3 but remains strategically important. Padcev delivered double-digit growth as it advances in bladder cancer, supported by ongoing Phase 3 EV-303 data. Tukysa continues to move earlier in HER2-positive metastatic breast cancer through HER2CLIMB-05, while Xtandi remains supported by positive EMBARK trial results in prostate cancer.
Across these programs, Pfizer’s oncology strategy spans early-line expansion, combination-based innovation, and lifecycle extension of established assets. Competitive pressure is increasing, particularly from next-generation antibody-drug conjugates in urothelial cancer, Enhertu-driven shifts in HER2-positive disease, and strong survival data from J&J’s Erleada in prostate cancer.
Takeaway
Pfizer’s Q3 2025 results reflect a company in transition. COVID-related headwinds and looming loss-of-exclusivity events continue to weigh on headline growth, but core franchises such as Eliquis, Vyndaqel, and key oncology assets remain durable contributors. The company’s ability to navigate upcoming patent cliffs while integrating external innovation, including recent deal activity, will be central to sustaining growth through the latter half of the decade.





