On 5 August, Pfizer announced its H1 2025 results, with total revenue of USD 28.4 billion in the first half, up 1% year-on-year. By business segment, oncology, primary care and specialty care generated revenues of USD 8.1 billion (+9%), USD 11.2 billion (-8%) and USD 8.4 billion (+6%) respectively in the first semester.

Image source: Pfizer Q2 2025 report

The flagship product driving the oncology business remains the blockbuster breast cancer drug Ibrance (palbociclib). Despite a 7% drop in sales due to intense competition, the CDK4/6 inhibitor still delivered USD 2.0 billion in the 6-month period.

Androgen receptor signalling inhibitor Xtandi (enzalutamide) generated USD 1.0 billion (+12%), while third generation ALK inhibitor Lorbrena (lorlatinib) also performed well, with sales of USD 473 million (+42%), and PARP inhibitor Talzenna (talazoparib) brought in USD 86 million (+42%).
In its earnings presentation, Pfizer highlighted Elrexfio (elranatamab), a CD3/BCMA bispecific antibody (BsAb) approved in 2023 for treating multiple myeloma (MM). The drug generated USD 145 million in revenue in the first half and has now captured leading market share in new regions such as Japan. Pfizer believes Elrexfio has the potential to become the standard of care among BCMA BsAbs.

Most of the products Pfizer acquired through its USD 43 billion acquisition of Seagen in late 2023 are now scaling up, collectively generating approximately USD 1.8 billion in revenue during H1 2025. Among these, antibody drug conjugate (ADC) products accounted for around USD 1.5 billion.
Breaking the bundle, Padcev (enfortumab vedotin), the world’s first Nectin 4 ADC, generated USD 967 million (+32%) in the first half. Adcetris (brentuximab vedotin), the first CD30 ADC, brought in USD 472 million (-12%). HER2 inhibitor Tukysa (tucatinib) delivered USD 234 million (+3%), while Tivdak (tisotumab vedotin), the first tissue factor (TF) ADC, contributed USD 79 million (+31%).

Notably, Pfizer’s breast cancer pipeline may soon welcome a new addition. vepdegestrant, co-developed by Pfizer and Arvinas, has been submitted for review and could become the world’s first approved PROTAC drug.
In primary care, growth has stalled for both the blockbuster anticoagulant Eliquis (apixaban) and the Prevnar family of pneumococcal vaccines (Prevnar 20 & 13). The former generated USD 4.0 billion in sales in the first semester but will face patent expiry challenges in 2026. The latter delivered USD 3.0 billion in revenue.
Nurtec ODT/Vydura (rimegepant), the migraine drug Pfizer acquired through its USD 11.6 billion purchase of Biohaven, contributed USD 607 million (+14%) in the 6-month period. Additionally, RSV vaccine Abrysvo, launched in 2023, generated USD 274 million after 36% rise.
In R&D, Pfizer described 3SBio’s PD 1/VEGF BsAb SSGJ 707 (PF 08634404) as a “seamless strategic fit” and revealed plans for Phase III development, including potential combination regimens with its ADC portfolio. Following the 3SBio deal, Pfizer still has USD 13 billion in business development firepower to fuel sustained growth over the next decade.

Albert Bourla, Chairman and CEO at Pfizer, said: “Pfizer had another strong quarter of focused execution and we’re pleased with our progress in advancing our R&D pipeline, driving our commercial performance and expanding our margins. We continue to strengthen our company for the future and we’re confident in our ability to create further value for patients and our shareholders”.