Pfizer just crushed Q2 earnings despite a steep drop in COVID sales, fueled by explosive growth in cancer and heart disease drugs like Eliquis, Vyndaqel, Padcev, and Lorbrena. While the company took a $3B write-down on a failed lung cancer drug and posted a net loss, adjusted EPS beat forecasts. Total revenue rose 3% to $15B, driven by biopharma and contract manufacturing — and they’re now raising their full-year revenue outlook as non-COVID products outpace expectations. With patent expirations looming and pandemic demand fading, Pfizer is cutting costs, investing in weight-loss drugs, and pivoting hard toward a post-pandemic future.
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