Pfizer Raises Profit Forecast Amid Pressure on Drug Prices
- Company raises earnings guidance, lowers revenue midpoint
- Pfizer delayed price hikes after pressure from President Trump
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Pfizer Inc. increased its full-year earnings outlook, a sign of relative confidence in profitability amid weaker revenue and pressure on drug prices from the Trump administration.
The New-York-based drugmaker now sees earnings of $2.95 to $3.05 a share, excluding some items, after its second-quarter profit beat Wall Street estimates. Analysts anticipated $2.95 for the full year, on average.