Pfizer’s US Expansion Hits Tariff Snag—Wall Street Shrugs, Patients Pay

Pharma giant Pfizer slams into regulatory quicksand as US tariff uncertainty freezes key investments. The company’s plans—like so many corporate strategies—are now hostage to DC’s trademark indecision.

Behind the headlines: While execs sweat over spreadsheets, drug pipelines stall. Another case of finance-first policy leaving real-world impact in the lurch.

Closing thought: If tariffs are the medicine, maybe the cure is worse than the disease—but hey, at least some hedge fund manager’s quarterly bonus is safe.

Pfizer held firm on its full-year financial forecast despite these trade uncertainties.

Unlike many companies facing trade-policy shifts, Pfizer left its full-year forecast intact on Tuesday.

In its earnings release, the company pointed out that its guidance “does not currently include any potential impact related to future tariffs and trade policy changes, which we are unable to predict at this time.”

But on the earnings call, Pfizer’s chief financial officer, Dave Denton:

“Included in our guidance that we didn’t really speak about is there are some tariffs in place today,” he continued. “We are contemplating that within our guidance range and we continue to again trend to the top end of our guidance range even with those costs to be incurred this year. ”

Denton said those existing duties would total about $150 million.

The company reaffirmed its full-year 2025 sales target of $61 billion to $64 billion, forecasting that its Covid-related products will perform at roughly the same level seen in 2024.

Bourla said Pfizer has set up a dedicated team to weigh different tariff scenarios and come up with plans to lessen any fallout, both in the NEAR term and over the longer haul. That group is focused on managing current inventory levels in key regions, leaning on Pfizer’s U.S. factories, and other steps to keep the business running smoothly.

“Should we be impacted by further tariffs in the future, we will assess the impact of the policies enacted and provide information at the appropriate time,” Bourla said, signaling that the company will continue to watch Washington’s trade moves before making any major new commitments.

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