Pfizer has raised its full-year 2025 adjusted earnings forecast after posting stronger-than-expected second-quarter results and making significant progress on cost-cutting. The pharmaceutical giant now anticipates earnings of $2.90 to $3.10 per share, up from its previous estimate of $2.80 to $3. It also reaffirmed its full-year revenue forecast of $61 billion to $64 billion.
In the second quarter, Pfizer reported adjusted earnings of 78 cents per share, exceeding analysts’ expectations of 58 cents. Revenue rose 10% year-over-year to reach $14.65 billion, also above the projected $13.56 billion. Net income surged to $2.91 billion, or 51 cents per share, compared to just $41 million during the same period last year, News.Az reports, citing foreign media.
The growth was largely driven by a rebound in Covid-19 product sales. Comirnaty, Pfizer's Covid vaccine, brought in $381 million in revenue, up 96% year-over-year and well above the anticipated $205.3 million. Paxlovid, the company’s Covid treatment pill, also performed strongly, generating $427 million—an increase of 70% and ahead of forecasts.
Other key products such as Vyndaqel, used to treat cardiomyopathy, continued to see growth. Padcev, a bladder cancer treatment, and Eliquis, the blood thinner co-marketed with Bristol Myers Squibb, also exceeded expectations. However, Ibrance, Pfizer’s breast cancer drug, faced headwinds. Its sales dropped due to U.S. pricing pressures linked to Medicare’s redesign under the Inflation Reduction Act, as well as growing international competition from generics.
Pfizer is aggressively pursuing cost-saving measures to stabilize operations in the post-pandemic landscape. The company now expects to save $7.7 billion by 2027 through two ongoing restructuring programs. It also disclosed a $1.35 billion charge tied to its licensing deal with China’s 3SBio for a cancer drug, which will impact its third-quarter results.
The company’s stronger financial position comes at a politically sensitive time. President Donald Trump has reintroduced the “most favored nation” policy, which could lead to drug price cuts in the U.S., and has floated new tariffs on pharmaceuticals imported from countries such as China, Canada, and Mexico. While Pfizer’s current guidance reflects existing tariffs, it does not yet fully account for potential drug pricing mandates that could be enforced by late September, a deadline Trump has mentioned in recent statements.
