Pfizer edges up after better-than-expected quarterly results

Shares of drugmaker Pfizer PFE.N rise 0.8% to $25.26 premarket

Co reports Q2 EPS of 77 cents/share, above analysts' expectations of 68 cents/share - LSEG data

Posts Q2 sales of $15.03 bln, topping estimates of $14.41 bln

Forecasts 2026 revenue at $60.5 bln to $62.5 bln, compared with prior view of $59.5 bln to $62.5 bln

Says it expects an additional $2.5 bln in savings through its ongoing cost-cutting efforts, to be realized between 2027 and 2029

"The near-term Pfizer story remains challenging given the multiple large patent expirations the company is facing, but we believe continued progress both commercially and with the pipeline should help increase investor interest in the name going forward," says Guggenheim analyst Vamil Divan

As of last close, stock up 0.6% YTD