Can AI Save Pfizer Stock Before Its Patent Cliff Hits?

Pfizer's management has shifted from touting concrete market-share wins for current blockbusters to promoting a distant AI-powered transformation story, even as revenue declines and net margins compress from a three-year peak of 16.8% to 6.8%. The company now targets a 'risk-adjusted high single-digit revenue CAGR from year-end 2028' via an 'AI-native R&D organization,' while its ~$61.2B annual revenue base shrank 2% over the past year and the 'launched and acquired product' portfolio delivered only $3.2B this quarter.

Why it matters: Trefis warns that the de-emphasis on current competitive metrics coincides with the patent-cliff race, urging investors to watch whether the new drug pipeline can accelerate fast enough to fill the gap left by expiring patents.