Pfizer’s Q2 revenue is 10% more than last year|Waleed Alzuhair|CC BY-NC-SA 4.0

Pfizer increased its full-year profit forecast to $2.90–$3.10 per share, up from $2.80–$3. The company beat expectations in the second quarter, earning 78 cents per share and $14.65 billion in revenue.

Its Q2 revenue is 10% more than last year. Shares rose over 4% on Tuesday.

Pfizer will take a one-time $1.35 billion charge next quarter for a deal with Chinese drugmaker 3SBio. Without it, profits would have been even higher.

The company also expects to save $7.7 billion by 2027 through cost-cutting.

Pfizer is talking with the Trump administration about lowering US drug prices while managing tariff impacts.