Pfizer Discloses First Innovent ADC Under USD 10.5bn Partnership

Pfizer has published its H1 2026 results with total revenue of USD 29.484 billion (+4%) and pharmaceutical sales of USD 28.822 billion (+4%), alongside CDMO revenue of USD 662 million (+7%).

The group reorganised reporting segments in January, adding a Hospital and Biosimilars unit that absorbed off-patent sterile injectables (Sulperazon, Zithromax) and oncology biosimilars (Inflectra) from the former Primary Care and Oncology buckets. Primary Care fell 2% to USD 11.046 billion, whilst Oncology rose 6% to USD 7.991 billion, Specialty Care +10% to USD 6.292 billion, and Hospital/Biosimilars +6% to USD 3.494 billion, with Padcev up 30% to USD 1.258 billion on urothelial and newly approved perioperative muscle-invasive bladder cancer labels.

Alongside the earnings, Pfizer confirmed that IBI3028, an EGFR×c-Met bispecific ADC from Innovent Biologics, has entered its pipeline under the USD 10.5 billion ADC collaboration announced in May 2026, whose specific molecules were not previously named. The disclosure gives the first concrete visibility into the partnership's asset composition, pairing Pfizer's global development and commercialisation engine with Innovent's bispecific ADC chemistry.

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