Pfizer Q2 Results: Sales of the pharmaceutical giant increase to $14.65 billion

According to the firm, the updated projection includes a one-time fee of 20 cents per share for its licensing agreement with 3SBio of China for experimental cancer treatment. In premarket trading, the New York-based company's shares increased 2.8% to $24.19. As the pharmaceutical business copes with declining sales of COVID treatments and impending patent expirations for important medications, its shares have lost more than half of their value from their peak during the epidemic. Last year, the business responded by implementing cost-cutting initiatives throughout its research and manufacturing divisions.