Pfizer is one of the largest drugmakers in oncology, with a broad portfolio of approved cancer medicines and a pipeline spanning small molecules, antibody-drug conjugates (ADCs) and immuno-oncology biologics.
The 2023 acquisition of Seagen added four ADCs — Adcetris, Padcev, Tukysa and Tivdak — and contributed meaningfully to Pfizer’s revenues in the first nine months of 2025. Oncology accounted for about 28% of Pfizer’s total revenues, and oncology sales rose 7% in that period.
Investors will watch Pfizer’s Feb. 3 earnings release for fourth-quarter oncology results. Fourth-quarter sales were expected to be supported by higher volumes of Xtandi, Lorbrena and the Braftovi-Mektovi combination, offsetting declines in Ibrance and Inlyta. Ibrance faced continued competitive pressure, generic entry in select international markets and the impact of Medicare Part D redesign, which also weighed on sales of some other oncology drugs.
Among the ADCs acquired from Seagen, Adcetris faced competitive pressure in the U.S., while Padcev benefited from market share gains in first-line metastatic urothelial cancer. Pfizer’s oncology biosimilars business, which markets six cancer biosimilars, likely contributed rising revenues in the fourth quarter.
Pfizer is expected to provide updates on late-stage oncology candidates, including atirmociclib, vepdegestrant and sigvotatug vedotin, during its fourth-quarter conference call. Sasanlimab, for BCG-naive high-risk non-muscle invasive bladder cancer, is under regulatory review in the United States and the EU.
Pfizer operates in a competitive oncology market alongside large peers such as AstraZeneca, Merck, Johnson & Johnson and Bristol-Myers Squibb. AstraZeneca’s oncology business now represents about 43% of its total revenues and grew 16% in the first nine months of 2025, driven by Tagrisso, Lynparza, Imfinzi, Calquence and Enhertu (in partnership with Daiichi Sankyo).
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