Pfizer lifts 2026 guidance; Bayer says it is working on MFN

· Health · United States · Germany

Pfizer raised its 2026 financial guidance as strong growth in oncology and migraine offset sharp declines in Covid product sales, with third-quarter results reported. Separately, Bayer CEO Bill Anderson said the German drugmaker is "working on" a most favored nation (MFN) agreement, signaling talks with the Trump administration; Bayer was not part of earlier deals. Pfizer CEO Albert Bourla said he does not expect likely Democratic gains in Congress after the midterms to affect the pricing deals drug companies struck with the White House. MFN arrangements aim to tie US drug prices to lower prices paid abroad, a central piece of the administration's pricing push. The comments suggest the industry is treating the deals as durable regardless of the election outcome.

Why it matters：Drugmakers are publicly treating White House pricing deals as durable and expanding them, which could lock in a new baseline for US drug pricing across the industry.

Key points

  • Pfizer raised 2026 guidance on oncology and migraine growth despite Covid declines.
  • Bayer's CEO said the company is working on an MFN agreement with the administration.
  • Pfizer's Bourla said midterm results should not change existing pricing deals.

Sources (original reporting)

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