Examining the moderating function of technological innovation, this research attempts to evaluate the impact of environmental, social, and governance (ESG) activities on the financial performance of listed pharmaceutical companies in Nigeria. The research is based on the firms' financial statements, sustainability reports, and annual reports from 2009 to 2024 using panel regression and descriptive statistics. Research and development (R&D) investment was used to gauge technical innovation, content analysis was used to assess ESG practices, and return on equity (ROE) served as a stand-in for financial performance. According to the data, ESG activities have a considerable and favorable impact on ROE, and the combination of ESG activities and R&D investment significantly improves financial performance. Leverage, however, has a negative impact on ROE, although firm age and size have little effect. These findings suggest that pharmaceutical firms can enhance their financial performance and sustain long-term competitive advantage by integrating consistent ESG practices with strategic investments in research and development, while maintaining prudent debt management to mitigate financial risk.