Pfizer beats earnings estimates, hikes full-year outlook as drugmaker cuts costs

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• 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.

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