Forget Novo Nordisk. Pfizer’s Obesity Pipeline Is Coming, and It Pays You 6.8% While You Wait

By Alex Sirois Published Jun 23, 1:55PM EDT

Quick Read

Pfizer beats EPS estimates for the fifth straight quarter, pays a 6.8% dividend yield, and advances an obesity pipeline through its Metsera acquisition.
Novo Nordisk's US Ozempic sales fell 14%, a 50% Wegovy price cut looms in January 2027, and the stock has already dropped 39% yet the trade stays crowded.
CEO Bourla executed 7 insider stock purchases in the past 3 months, signaling conviction in Pfizer's recovery at current prices.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Pfizer didn't make the cut. Grab the names FREE today.

Forget Novo Nordisk. Pfizer’s Obesity Pipeline Is Coming, and It Pays You 6.8% While You Wait — © 24/7 Wall St.

Everyone is still arguing about Novo Nordisk (NYSE:NVO | NVO Price Prediction), the Danish obesity juggernaut whose GLP-1 franchise turned Wegovy and Ozempic into household names and dragged the entire pharma sector into a multi-year hype cycle. But here’s what you should actually be watching.

The reality check has already started, and the numbers are uglier than the headlines suggest. Stripped of a $4.2B non-cash 340B provision reversal, Novo’s Q1 FY26 sales actually declined 4% at constant exchange rates. Ozempic fell 14% at CER in the US and Rybelsus dropped 27%. EPS of $6.63 missed the $6.96 estimate. Management then guided FY26 adjusted sales growth to negative 4% to negative 12% at CER and confirmed a roughly 50% Wegovy list price cut and a 35% Ozempic cut in January 2027. The next-generation hope, CagriSema, missed its REDEFINE 4 primary endpoint and had its co-formulation development terminated. Add ~9,000 positions cut, a securities class-action lawsuit, and rising net debt, and the picture is unmistakable. The stock has already dropped 38.97% over the past year, yet the trade is still crowded.

Now the better setup.

Pfizer (NYSE:PFE) trades at $25.21 with a P/E of 19 and a dividend yield near 6.8%. It is washed out, ignored, and quietly executing. Three reasons retirement-focused investors should pay attention.

1. The earnings beat streak is real. Q1 FY26 adjusted EPS came in at $0.75 against a $0.7217 consensus, on revenue of $14.451 billion that grew 5.4% year over year. That is the fifth consecutive EPS beat, with launched and acquired products growing 22% operationally. Padcev rose 39%, Nurtec ODT/Vydura 42%, and Eliquis 13%.

2. Pfizer is an obesity play too, at a fraction of the price. Through the Metsera acquisition, Pfizer is advancing PF-3944, an ultra-long-acting GLP-1 with positive Phase 2b data, plus ecnoglutide, which launched in China on April 27, 2026. CEO Albert Bourla called out “approximately 20 key pivotal trial starts” for 2026, with about ten from the obesity portfolio. Investors are paying for Novo’s collapsing GLP-1 economics. They are getting Pfizer’s optionality for free.

3. The dividend is durable, and insiders are buying. Pfizer paid $0.43 per quarter across 2025 and into 2026, with full-year 2025 dividends totaling $9.8 billion. The company reaffirmed FY26 adjusted EPS guidance of $2.80 to $3.00, which comfortably covers the payout. Meanwhile, CEO Bourla has executed 7 acquisitions in the past 3 months at prices ranging from $25.33 to $28.08, alongside coordinated board-level equity acquisitions. The Vyndamax patent settlement extends US exclusivity to June 2031, pushing the feared cliff out by years.

Bourla’s own framing on the Q1 call captured it: “We’re off to a strong start in 2026… I’m particularly encouraged by what we’re seeing in oncology and obesity, two areas where I believe Pfizer is positioned to lead.”

The crowd is still litigating Novo’s bottom while the price ladder keeps stepping lower. Pfizer is up 12.98% over the past year, pays you 6.8% to wait, and offers a real pipeline. Stop chasing the obesity headlines and put Pfizer on your research list this week.

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About the Author Alex Sirois →

Alex Sirois is a financial writer with experience spanning both retail and institutional investing. He has written for InvestorPlace and held roles at BNY Mellon and Bernstein, giving him a perspective that bridges Main Street portfolios and Wall Street analysis.

Alex holds an MBA from George Washington University and has built his career across multiple industries, including e-commerce, education, and translation — a breadth of experience that informs how he breaks down complex financial topics for everyday investors. His writing is conversational, actionable, and grounded in long-term, buy-and-hold investing principles.

At 247 Wall St., Alex focuses on delivering analysis that is both accessible and useful, with a clear emphasis on helping readers make more informed decisions with their money.