Pfizer raises annual profit forecast
The drugmaker now expects to earn $2.90 to $3.10 per share on an adjusted basis in 2025, compared with its previous expectations of $2.80 to $3.00 per share.
Shares of the drugmaker rose 2.4% in premarket hours.
Pfizer said the new forecast includes an impact of 20 cents per share related to its recent licensing deal with China's 3SBio (1530.HK), opens new tab for experimental cancer treatment.
Pfizer's results come at a time when the pharmaceutical industry is under pressure from President Donald Trump's administration to lower drug prices and is gearing up for 15% tariffs on imports from the European Union.
The drugmaker has said it had enough manufacturing capacity across its 10 sites in the United States to mitigate any impact from tariffs and is open to shifting some production to these existing facilities.
Investors are also closely monitoring potential disruptions to Pfizer and other companies' vaccine portfolio from policy changes under RFK Jr., a known vaccine skeptic. Vaccines account for about 20% of Pfizer's revenues.
On an adjusted basis, Pfizer earned 78 cents per share in the second quarter, compared with analysts' expectations of 58 cents per share, according to LSEG data.
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