Key Highlights

  • Amgen (NASDAQ:AMGN) reports after the close on November 3, 2026, with calendar EPS of USD 5.79 and a Market Value near USD 254.44 billion, while Prolia sales fell 32 percent to USD 759 million in the second quarter.
  • Pfizer (NYSE:PFE) reports before the open with calendar EPS of USD 0.73, 2026 Revenue guidance of USD 60.5 billion to USD 62.5 billion and COVID revenue expected near USD 4 billion, down from USD 5 billion.
  • Teva Pharmaceutical (NYSE:TEVA) reports at 7:00 a.m. ET, guides 2026 revenue to USD 16.5 billion to USD 16.85 billion and faces a USD 0.73 EPS bar after USD 0.02 in the second quarter.
  • BioNTech (NASDAQ:BNTX) cut 2026 revenue guidance to EUR 1.6 billion to EUR 1.9 billion, holds EUR 16.6 billion in cash and expects EUR 613 million of Bristol Myers Squibb revenue in the third quarter.

Amgen (NASDAQ:AMGN): Growth Products Against Erosion

Amgen (NASDAQ:AMGN) is due after the close on November 3, 2026. Second quarter revenue was USD 10.1 billion, up 10 percent, with non-GAAP EPS of USD 6.29, and full-year guidance is revenue of USD 38.2 billion to USD 39.4 billion and non-GAAP EPS of USD 22.30 to USD 23.50. The calendar consensus of USD 5.79 sits below the second quarter figure, so it may use a different basis and should be treated as unverified. Repatha rose 37 percent to USD 953 million, Evenity rose 38 percent to USD 714 million and Tezspire rose 42 percent to USD 486 million. Against that, Prolia Volume fell 20 percent and net price fell 12 percent as Biosimilars launched, and Enbrel net selling price fell 22 percent after Medicare Part D price setting took effect on January 1, 2026. Loss of exclusivity hits volume and price together, so each quarter tests whether launches grow fast enough to cover the decline. The FDA asked the company to voluntarily withdraw Tavneos, and a hearing was requested. A 5 percent move would shift market value by about USD 12.7 billion, simple arithmetic and not options-implied. No peer result was verified.

Pfizer (NYSE:PFE): Can Growth Products Outrun COVID?

Pfizer (NYSE:PFE) is due to report before the open on November 3, 2026, with a market value near USD 173.26 billion. As of August, guidance was revenue of USD 60.5 billion to USD 62.5 billion, with the midpoint raised by USD 500 million, and adjusted EPS of USD 2.80 to USD 3.00, unchanged. Second quarter revenue was USD 15.0 billion against a consensus of USD 14.388 billion. One published estimate puts third quarter revenue near USD 15.91 billion, but its source is not identified, so it is unverified. Comirnaty and Paxlovid fell 59 percent and 63 percent in the first quarter, and low COVID incidence could keep limiting Paxlovid use. Padcev, Nurtec, Lorbrena and Vyndaqel drive non-COVID growth, and guidance includes about USD 1.5 billion of pressure from generic and biosimilar competition. The company has cited an additional USD 2.5 billion of cost savings, for USD 9.7 billion in total through 2029, and Vyndamax Patent settlements extend effective U.S. protection to June 1, 2031. A bull case is revenue near USD 16 billion with a guidance raise. A bear case is weaker Paxlovid Demand against a high comparison base. A 5 percent move would shift market value by about USD 8.7 billion, simple arithmetic.

Teva Pharmaceutical (NYSE:TEVA): A Clean Recovery Is Implied

Teva Pharmaceutical (NYSE:TEVA) reports third quarter results at 7:00 a.m. ET on November 3, 2026, with a call at 8:00 a.m. ET. The USD 0.73 screener consensus is a large step up from the USD 0.02 of non-GAAP EPS in the second quarter, which was depressed by Emalex Acquisition expenses. Excluding that impact, second quarter EPS would have been USD 0.63, so USD 0.73 implies a clean recovery. The June Emalex acquisition added USD 724 million of in-process research and development, which drove a GAAP net loss of USD 576 million. Austedo U.S. revenue rose 33 percent to USD 676 million, Ajovy rose 56 percent to USD 244 million and Uzedy rose 43 percent to USD 77 million, and each range was raised. Net Debt was USD 12.9 billion, or 2.8 times EBITDA, against a target below 2 times. A published headline reported the shares at a new 12-month high on October 30, 2026. In a bear case, Emalex expenses linger or generic erosion outpaces branded growth. No options-implied move or peer print was found.

BioNTech (NASDAQ:BNTX): Lumpy Revenue and a Large Cash Pile

BioNTech (NASDAQ:BNTX) is listed to report before the open on November 3, 2026, with a market value of about USD 22.25 billion and a consensus EPS of 0.76 per share whose currency basis was not confirmed. Second quarter revenue was EUR 105.6 million against EUR 260.8 million a year earlier, with an IFRS net loss of EUR 820.8 million, on lower COVID-19 Vaccine demand. Management said most 2026 revenue falls in the second half, specifically the third quarter, which includes EUR 613 million from Bristol Myers Squibb (NYSE:BMY). If other revenue resembled the second quarter, the total would be about EUR 719 million, simple arithmetic on published figures. The guidance cut cited softer vaccine demand in Germany and a milestone no longer expected. A buyback of up to USD 1.0 billion runs to May 6, 2027, and the DYNASTY-Breast02 primary analysis is expected in the fourth quarter. A bull case is recognition of the EUR 613 million with guidance reiterated. A bear case is a shortfall that puts the EUR 1.6 billion floor at risk, or higher costs and a delayed readout. Pfizer reports the same morning, and Moderna (NASDAQ:MRNA) reports on November 6, 2026.

Where Things Stand

The most to prove belongs to BioNTech (NASDAQ:BNTX), because the third quarter must carry the Bristol payment that supports a reduced revenue guide. Teva Pharmaceutical (NYSE:TEVA) must turn a USD 0.02 quarter into the USD 0.73 the screener expects, though the gap was mostly an acquisition effect. Amgen (NASDAQ:AMGN) reports a Business in transition, with Repatha growing while Prolia shrinks. Pfizer (NYSE:PFE) is likely to show growth outside COVID but still shrinking in total. Guidance changes, not the EPS headline, are likely to matter most on November 3, 2026.