Pfizer beat estimates for quarterly sales and adjusted profit, then raised both full-year forecasts. Falling COVID product sales and a slight total-sales drop matter, but growth elsewhere and higher forecasts point to a stronger outlook.
Growth in non-COVID medicines helped cover falling COVID product sales, but total sales still slipped slightly from a year earlier. Higher full-year sales and profit forecasts, plus quarterly results above analyst estimates, outweigh those declines.
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