<div id="readability-page-1">Money Markets Pfizer Stock Can Sink More. Here Is How  ByTrefis Team ,  Contributor.  Forbes contributors publish independent expert analyses and insights. Building a platform to do the job of 1 million analysts for  Great Speculations Follow Author Dec 17, 2025, 11:12am EST  SHANGHAI, CHINA - 2025/11/08: The Pfizer logo is presented at the 8th China International Import Expo. (Photo by Sheldon Cooper/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Pfizer (PFE) is encountering threats. Even the most prominent names aren't immune. Stocks can decline sharply without any warning – erasing months or years of gains in just a few weeks. History indicates that unexpected market fluctuations can affect any company, regardless of its dominance.  Pfizer’s shares, after a year of modest growth, recently fell following a cautious outlook for 2026, emphasizing ongoing challenges. The pharmaceutical powerhouse is facing a significant patent cliff and diminishing demand for COVID-19 products, forecasting future profits below what analysts expect. This change in sentiment reveals a vulnerability: can pipeline innovations and cost efficiencies effectively counterbalance revenue loss from expiring exclusivities and a post-pandemic adjustment, or will the stock continue to decline?  What Could Cause The Stock To Decline? Patent Cliff Risk: Pfizer is confronted with a substantial “LOE wave” (Loss of Exclusivity) with $17-$18 billion in annual revenues at risk by 2028 from medications like Xeljanz, Prevnar, Eliquis, and Ibrance, as crucial patents expire between 2026 and 2028. Pfizer plans to implement $7.7 billion in cost reductions by 2027 to alleviate this issue.  Declining COVID-19 Product Sales: Expected 2026 COVID-19 product sales are projected to decrease to $5 billion, representing a $1.5 billion drop from estimates for 2025, which will significantly impact Pfizer's profit outlook for 2026. The operational growth of non-COVID products was 4% in Q3 2025.  Pipeline Execution: Setbacks such as the discontinuation of the GLP-1R agonist danuglipron in 2025 and the halting of two Seagen pipeline assets in November 2025, along with the dilutive impact of the Metsera acquisition on 2026 EPS, pose risks to future growth. Pfizer aims for eight or more oncology blockbusters by 2030.  What’s The Worst That Could Happen? Examining Pfizer’s stock during challenging periods reveals that risk remains a concern, even with solid fundamentals. It fell approximately 39% during the Dot-Com Bubble and dropped more steeply by 53% during the Global Financial Crisis. The 2018 correction and the COVID-19 pandemic saw declines of 24% and 29%, respectively. The inflation shock was particularly severe, with Pfizer plummeting more than 53%. See – How Low Can Pfizer Stock Really Go – for more details. So, despite the company's strong profile, market downturns have severely impacted it. Quality is significant, but during major sell-offs, few stocks evade substantial losses.  Is Risk Evident In The Company's Financials Yet? Let’s examine the fundamentals  MORE FOR YOU Revenue Growth: 3.9% LTM and -13.2% last 3-year average.  Cash Generation: Nearly 16.5% free cash flow margin and 24.6% operating margin LTM.  Valuation: Pfizer stock trades at a P/E ratio of 14.7  Pfizer's Fundamentals Trefis If you want more information, read Buy or Sell PFE Stock .  The Right Way To Invest Is Through Portfolios Individual selections can be volatile, but maintaining investment is key. A diversified portfolio aids in staying the course, capturing upsides, and minimizing downsides.  The Trefis High Quality (HQ) Portfolio , featuring 30 stocks, has a history of outperforming its benchmark comfortably, which includes all three: the S&amp;P 500, S&amp;P mid-cap, and Russell 2000 indices. Why is this the case? Collectively, HQ Portfolio stocks have yielded better returns with reduced risk compared to the benchmark index; providing a smoother experience, as seen in HQ Portfolio performance metrics .  Editorial Standards Reprints &amp; Permissions LOADING VIDEO PLAYER... FORBES’ FEATURED Video</div>

<p>Pfizer's stock recently declined due to a cautious 2026 outlook, highlighting challenges like a significant patent cliff and reduced COVID-19 product demand. The company faces $17-$18 billion in annual revenue risk by 2028 from expiring patents and plans $7.7 billion in cost reductions by 2027. Despite strong fundamentals, historical market downturns have severely impacted Pfizer's stock. The company's future growth is threatened by pipeline setbacks and declining COVID-19 sales, raising concerns about its ability to counterbalance revenue losses.</p>

- Pfizer is facing significant challenges that threaten its stock, including a looming patent cliff and declining sales of COVID-19 products.  
- The company anticipates a potential loss of $17-$18 billion in annual revenues from expiring patents by 2028 and a forecasted drop in COVID-19 product sales for 2026.  
- Historical data shows that even strong companies like Pfizer can suffer substantial stock declines during market downturns, underscoring the inherent risks in its financial outlook.