CNBC July 30, 2024
Key Points
– Pfizer reported second-quarter revenue and adjusted earnings that blew past expectations and raised its full-year outlook as the drugmaker works to slash costs.
– The results come as Pfizer scrambles to stabilize its business and win back Wall Street’s favor following the rapid decline in demand for its Covid products.
– The company pointed to growth from acquired drugs, recently launched treatments and other key products, which helped offset the drop in sales from its Covid business.
Pfizer on Thursday reported second-quarter revenue and adjusted earnings that blew past expectations and raised its full-year outlook, benefiting from its broad cost-cutting program, better-than-expected sales of its Covid antiviral pill, Paxlovid, and strong non-Covid product sales.
The company now...
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