Merck & Co., Pfizer Set to Report With Drug Pricing in Focus -- Earnings Preview

Dow Jones01:08

By Nicholas G. Miller

Merck & Co. and Pfizer are each set to report their fourth-quarter results before the market opens Tuesday and could provide insight into the effects of deals with the Trump administration to lower drug prices.

The context:

The Trump administration has established agreements with several pharmaceutical companies to lower some drug prices to levels that other wealthy countries pay as part of a policy known as "most favored nation."

Pfizer said it would offer lower prices across a range of its drugs and invest in U.S. drug manufacturing in exchange for a tariff exemption. Merck agreed to reduce the price of its diabetes medication, Januvia, to $100 from $330 for patients purchasing through the TrumpRx platform.

Investors will be listening for commentary about the effects of those deals on the companies' profitability and any attempts to raise prices in other developed nations to offset lower prices in the U.S.

The numbers:

Pfizer is expected to post fourth-quarter adjusted earnings of 57 cents a share on revenue of $16.85 billion, according to analysts polled by FactSet. That compares with adjusted earnings of 63 cents a share on revenue of $17.76 billion a year ago.

Analysts expect Merck to record adjusted earnings of $2.01 a share and revenue of $16.2 billion. In the year-ago quarter, the company posted adjusted earnings of $1.72 a share and revenue of $15.62 billion.

Write to Nicholas G. Miller at nicholas.miller@wsj.com

(END) Dow Jones Newswires

February 02, 2026 12:08 ET (17:08 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Miller \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Merck &amp; Co. and Pfizer are each set to report their fourth-quarter results before the market opens Tuesday and could provide insight into the effects of deals with the Trump administration to lower drug prices. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  The context: \n</p>\n<p>\n  The Trump administration has established agreements with several pharmaceutical companies to lower some drug prices to levels that other wealthy countries pay as part of a policy known as \"most favored nation.\" \n</p>\n<p>\n  Pfizer said it would offer lower prices across a range of its drugs and invest in U.S. drug manufacturing in exchange for a tariff exemption. Merck agreed to reduce the price of its diabetes medication, Januvia, to $100 from $330 for patients purchasing through the TrumpRx platform. \n</p>\n<p>\n  Investors will be listening for commentary about the effects of those deals on the companies' profitability and any attempts to raise prices in other developed nations to offset lower prices in the U.S. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  The numbers: \n</p>\n<p>\n  Pfizer is expected to post fourth-quarter adjusted earnings of 57 cents a share on revenue of $16.85 billion, according to analysts polled by FactSet. That compares with adjusted earnings of 63 cents a share on revenue of $17.76 billion a year ago. \n</p>\n<p>\n  Analysts expect Merck to record adjusted earnings of $2.01 a share and revenue of $16.2 billion. In the year-ago quarter, the company posted adjusted earnings of $1.72 a share and revenue of $15.62 billion. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Nicholas G. 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Miller \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Merck &amp; Co. and Pfizer are each set to report their fourth-quarter results before the market opens Tuesday and could provide insight into the effects of deals with the Trump administration to lower drug prices. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  The context: \n</p>\n<p>\n  The Trump administration has established agreements with several pharmaceutical companies to lower some drug prices to levels that other wealthy countries pay as part of a policy known as \"most favored nation.\" \n</p>\n<p>\n  Pfizer said it would offer lower prices across a range of its drugs and invest in U.S. drug manufacturing in exchange for a tariff exemption. 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Pfizer said it would offer lower prices across a range of its drugs and invest in U.S. drug manufacturing in exchange for a tariff exemption. Merck agreed to reduce the price of its diabetes medication, Januvia, to $100 from $330 for patients purchasing through the TrumpRx platform.Investors will be listening for commentary about the effects of those deals on the companies' profitability and any attempts to raise prices in other developed nations to offset lower prices in the U.S.Pfizer is expected to post fourth-quarter adjusted earnings of 57 cents a share on revenue of","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SG9999001440.SGD":"United Global Dividend Equity Fund A SGD Dist","LU2468319806.SGD":"MANULIFE GF HEALTHCARE \"AA\" (SGDHDG) ACC","BK4559":"巴菲特持仓","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU1093756325.SGD":"FTIF - Franklin K2 Alt Strat Fd A (acc) SGD-H1","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1037948897.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (HKD) INC","LU1894683348.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) INC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","BK4588":"碎股","LU1093756168.USD":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC","LU0965508806.USD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","BK4550":"红杉资本持仓","LU0289739699.SGD":"AB INTERNATIONAL HEALTH CARE PORTFOLIO \"A\" (SGD) ACC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU1934455277.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"AD\" (USD) INC","IE00BJT1NW94.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"A2\" (SGDHDG) ACC","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU2089984988.USD":"MANULIFE GF HEALTHCARE \"AA\" (USD) ACC","LU1037948541.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (HKD) ACC","SG9999014575.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USDHDG) INC","LU0238689110.USD":"贝莱德环球动力股票基金","LU1941712264.USD":"ALLIANZ PET AND ANIMAL WELLBEING \"A\" (USD) INC","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","LU1934455194.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (USD) ACC","LU1883839398.USD":"AMUNDI FUNDS INCOME OPPORTUNITIES \"A2\" (USD) ACC","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","IE00BJJMRZ35.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (SGDHDG) ACC","BK4599":"减肥药","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","IE00B4R5TH58.HKD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"A2\" (HKD) ACC","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","LU0225284248.USD":"SCHRODER ISF GLOBAL EQUITY YIELD \"A\" ACC","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU2324357040.USD":"HSBC GIF GLOBAL EQUITY SUSTAINABLE HEALTHCARE \"AC\" (USD) ACC","LU1035773651.USD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (USD) INC","SG9999014559.SGD":"United Income Focus Trust Dis SGD","LU1894683264.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) ACC","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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Miller \n\n\n \n\n\n  Merck & Co. and Pfizer are each set to report their fourth-quarter results before the market opens Tuesday and could provide insight into the effects of deals with the Trump administration to lower drug prices. \n\n\n \n\n\n  The context: \n\n\n  The Trump administration has established agreements with several pharmaceutical companies to lower some drug prices to levels that other wealthy countries pay as part of a policy known as \"most favored nation.\" \n\n\n  Pfizer said it would offer lower prices across a range of its drugs and invest in U.S. drug manufacturing in exchange for a tariff exemption. Merck agreed to reduce the price of its diabetes medication, Januvia, to $100 from $330 for patients purchasing through the TrumpRx platform. \n\n\n  Investors will be listening for commentary about the effects of those deals on the companies' profitability and any attempts to raise prices in other developed nations to offset lower prices in the U.S. \n\n\n \n\n\n  The numbers: \n\n\n  Pfizer is expected to post fourth-quarter adjusted earnings of 57 cents a share on revenue of $16.85 billion, according to analysts polled by FactSet. That compares with adjusted earnings of 63 cents a share on revenue of $17.76 billion a year ago. \n\n\n  Analysts expect Merck to record adjusted earnings of $2.01 a share and revenue of $16.2 billion. In the year-ago quarter, the company posted adjusted earnings of $1.72 a share and revenue of $15.62 billion. \n\n\n \n\n\n  Write to Nicholas G. Miller at nicholas.miller@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 02, 2026 12:08 ET (17:08 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"preview","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2608896191","isCrawlerRequest":true}