Pfizer Lifts Profit View as Cuts Offset Flat Sales Outlook (4)

Pfizer Inc. raised its profit forecast for the year, with the drugmaker’s ongoing cost cuts helping to make up for a lack of expected sales growth.

The company’s stock rose as much as 5.4% in New York Tuesday as investors look for good news after a decline in demand for the company’s Covid products forced the drugmaker to reshape its business.

Adjusted profits will be between $2.90 to $3.10 per share in 2025, the New York-based company said in a statement, an increase of 10 cents per share over its prior projection. The company didn’t increase its sales expectations ...