Here's When Pfizer's CEO Says the Company Might Get Back to Generating High-Single-Digit Growth

If it weren't for question marks about its future growth, Pfizer (NYSE: PFE) stock would undoubtedly be trading at a much higher price. Sales were down last year, and the stock has been floundering, struggling to gain much traction. Even though it looks persistently cheap, investors haven't been buying it, even for its dividend, which yields an astonishingly high rate of 6.6%. By comparison, the S&P 500 averages a yield of only 1.1%.

But what if Pfizer does have a path to return to growth? The company's management sees a brighter future ahead, and here's a look at when Pfizer might get back to delivering high-single-digit growth.

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Pfizer's CEO believes the growth rate will improve after 2028

On Pfizer's first-quarter earnings call, CEO Albert Bourla was optimistic that in 2029, the company will begin a five-year period of strong growth, with revenue growth rates in the high single digits. A big win for the company has come from recent settlements involving Vyndamax, which have pushed its patent expirations to 2031. Previously, the company expected a steep decline in Vyndamax revenue in 2029, but now it expects product sales to be fairly stable from 2028 through the middle of 2031.

Meanwhile, Pfizer is investing in other healthcare businesses to bolster its pipeline. Bourla said the company is planning to begin 20 pivotal studies this year and anticipates four regulatory decisions, calling 2026 "a pivotal year for R&D." Pfizer has been investing in its growth for multiple years, and positive news from its pipeline could put the healthcare stock on a much more positive trajectory.

Why Pfizer can be a great stock to buy and forget about

While Pfizer hasn't been a hot buy of late and is down more than 30% over the past five years, its future isn't as troubling as the stock's performance might suggest. The company has been investing in its future growth, though it could be a while before those efforts pay off and investors consider it a good buy again.

However, that's precisely why the stock may be worth buying today and just forgetting about it. It's a long-term play that will require some patience, as a catalyst may not be around the corner. But with the stock offering a high yield and also trading at just nine times its estimated future earnings (based on analyst projections), now may be a great time to buy it while it's still undervalued. In the long run, this has the potential to generate some terrific returns for patient investors.

David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pfizer. The Motley Fool has a disclosure policy.