U.S. drugmaker Pfizer (PFE.N), opens new tab on Tuesday raised its full-year profit forecast on strong demand for its heart disease drug, Vyndaqel, and blood thinner, Eliquis, after its second-quarter results benefited from a weaker dollar.
Pfizer said the new forecast includes a one-time charge of 20 cents per share related to its recent licensing deal with China’s 3SBio (1530.HK), opens new tab for experimental cancer treatment.
Shares of the New York-based company rose 2.8% to $24.19 in premarket trading.
The drugmaker’s results come as the pharmaceutical industry faces intense pressure from President Donald Trump’s administration to lower drug prices, while preparing for 15% tariffs on imports from the European Union.
Pfizer has said it has 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.
Pfizer 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.
Total sales for the quarter ended June 29 came in at $14.65 billion, including a $22 million favorable impact from foreign exchange, Pfizer said. Analysts, on average, were expecting revenues of $13.56 billion, according to LSEG data.
Quarterly sales of its heart disease drug, sold under brand names Vyndaqel and Vyndamax, were $1.62 billion, slightly above estimates of $1.59 billion.
Revenue from Eliquis, on which it partners with Bristol Myers Squibb (BMY.N), opens new tab, was $2 billion, while analysts were expecting $1.94 billion.
On an adjusted basis, Pfizer earned 78 cents per share in the second quarter, compared with analysts’ expectations of 58 cents per share.
