Pfizer recently reported Phase 2b results for their monthly obesity injection, PF-3944. The data showed up to 12.3% weight loss at 28 weeks with a safety profile consistent with other GLP-1 drugs. They are pushing hard on this front, planning over 20 obesity-related studies in 2026, including 10 Phase 3 trials. On the side, the FDA granted Priority Review for their hemophilia drug, HYMPAVZI. The main story right now is whether this new pipeline can make up for patent expirations and the drop in COVID-related revenue. Pricing pressure remains a risk, but the company is hoping these specialty medicines will support the valuation.