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๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Adj. EPS: $0.87 (Est. $0.73) โ , flat YoY.
โข Revenue: $16.58B (Est. $15.88B) โ , flat YoY.
โข GAAP EPS: $0.56 (vs. $0.62 YoY).
โข GAAP Net Income: $3.24B, -8% YoY.
โข Adjusted Income: $4.99B, +1% YoY.
โข Non-COVID Revenue Growth: +7% operationally.
โข Launched & Acquired Products Revenue Growth: +32% operationally.
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๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐
โข FY2026 Revenue: $62Bโ$64B, midpoint $63B (Est. $62.23B) โ , raised from $60.5Bโ$62.5B.
โข FY2026 Adj. EPS: $2.95โ$3.05, midpoint $3.00 (Est. $2.96) โ , raised from $2.80โ$3.00.
โข FY2026 Adj. R&D Expenses: $10.8Bโ$11.8B.
โข FY2026 Adjusted Tax Rate: ~15%.
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๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Q3 adjusted EPS beat consensus by ~19.2%, while revenue exceeded estimates by ~4.4%.
โข Non-COVID revenue grew 7% operationally, while launched and acquired products increased 32%.
โข Eliquis revenue increased 25% operationally, Padcev surged 55%, and Nurtec grew 33%.
โข Lorbrena revenue increased 43%, while the Vyndaqel family grew 12%.
โข Paxlovid revenue declined 63%, Comirnaty fell 29%, and Prevnar decreased 10%.
โข FY2026 revenue guidance midpoint increased $1.5B, while adjusted EPS midpoint rose $0.10.
โข Q3 results included a $650M acquired R&D charge related to the Innovent Biologics licensing agreement, reducing adjusted EPS by ~$0.10.
โข Phase 3 Elrexfio study met its primary endpoint in relapsed or refractory multiple myeloma.
โข FDA expanded approval for Talzenna in prostate cancer and approved Tukysa for frontline maintenance treatment in HER2-positive metastatic breast cancer.
โข Returned $7.3B to shareholders through dividends during the first nine months, with no share repurchases in 2026.
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โOur obesity program continued to advance and recent milestones in oncology, immunology and vaccines further demonstrate the potential of our pipeline.โ