Pfizer said its full-year profit should benefit from cost cuts across its research and manufacturing operations after posting higher-than-expected second-quarter earnings on Tuesday.

Pfizer increased its 2025 profit outlook by 10 cents a share to a range of $2.90 a share to $3.10 a share, citing continued cost cuts, a lower tax rate and “confidence” that strength seen in the first half of the year will continue.

The results come as Pfizer and other drugmakers grapple with Trump's calls to lower U.S. drug prices and brace for his planned tariffs on pharmaceuticals.