Pfizer exceeded expectations in Q2, with revenues hitting $14.7bn, up 10% from 2024. Adjusted earnings per share stood at $0.78, beating analysts’ forecast of $0.58. The company raised its full-year profit outlook to $2.90-$3.10 per share and reaffirmed its revenue guidance of $61bn to $64bn for 2025.

Shares in Pfizer surged 3% following the news, reaching $24.27 at market open on 8 August. The company’s market cap now stands at $138.9bn. CEO Dr Albert Bourla expressed satisfaction with Pfizer’s performance, citing progress in R&D, commercial operations, and margin expansion.

Pfizer’s strong Q2 results were driven by sales of Vyndaqel and Eliquis, with Vyndaqel’s sales up 21% to $1.6bn and Eliquis generating around $2bn. Despite a decline in Covid-19 demand, Pfizer reported growth in sales of Comirnaty vaccine and Paxlovid, bringing in a combined $808m.

Pfizer faces challenges from macroeconomic headwinds, including tariffs imposed by President Donald Trump. The company is also preparing for potential drug pricing changes following a letter from Trump. Cost-saving strategies are being implemented, with Pfizer aiming for $7.2bn in net savings by 2027.

A $0.5bn hit from generic and biosimilar competition poses a challenge for Pfizer. Despite strong Q2 performance, market enthusiasm may be tempered by the company’s decision to maintain its 2025 sales guidance and a modest increase in adjusted EPS forecast. Lower R&D investment also contributed to operational upside.

Read more at finance.yahoo.com: Pfizer shares rise 3% after upping profit forecast for 2025