Pfizer has released its first-quarter financial results for 2025, revealing a revenue of $13.72 billion, which missed analysts' expectations of $13.91 billion. This shortfall largely stems from a weaker-than-expected performance by its COVID-19 antiviral treatment, Paxlovid, which generated $491 million, below the anticipated $794.3 million. Despite this, adjusted earnings per share exceeded forecasts, reaching 92 cents compared to the expected 66 cents, according to Reuters.

To address the revenue challenges, Pfizer has ramped up its cost-cutting efforts, targeting an additional $1.7 billion in savings through streamlined manufacturing and R&D operations, bringing total expected savings to $7.7 billion by 2027. The company has maintained its full-year revenue forecast of $58.5 billion to $61.5 billion, which comprises $5 billion from its COVID-19 vaccine and $3 billion from Paxlovid. Adjusted earnings per share for the year are expected to be between $2.15 and $2.35, as reported by NBC Los Angeles.

Additionally, Pfizer is exploring the possibility of moving some of its overseas production to U.S. facilities in response to potential U.S. tariffs on pharmaceuticals. The company operates 10 manufacturing sites and two distribution centers in the U.S., employing nearly 10,000 workers. Despite the recent revenue miss, Pfizer's stock has only seen a slight 1% decrease in premarket trading, demonstrating resilience amid ongoing market adjustments.