Pfizer raised its full-year adjusted profit forecast due to cost cuts and strong business performance, beating Q2 revenue estimates driven by Covid products and other drugs.

The new profit guidance is $2.90 to $3.10 per share, up from $2.80 to $3.00, while maintaining its 2025 revenue outlook of $61 billion to $64 billion.

The company plans to record a $1.35 billion one-time charge linked to a cancer drug licensing deal, CNBC has reported.

Pfizer is also navigating potential impacts from U.S. tariffs and drug price pressure under the Trump administration, with ongoing talks to address drug affordability and competitiveness.

Written by B.C. Begley