Pfizer has reported impressive second-quarter earnings, driven by the success of Eliquis and newly acquired pharmaceutical products. The company is planning $2.5 billion in cost-saving measures expected to be in place by 2029. With a focus on innovative treatments, Pfizer aims to reduce reliance on older, high-grossing medications and looks forward to a notable growth revival post-2028, actively pushing its obesity treatment initiatives.

Hatched three years ago, the restructuring is now expected to deliver $1 billion in new cost reductions and save Pfizer another $1.5 billion by streamlining drug production.

Pfizer said it cut its full-year revenue expectation for its Covid products to $4 billion, down from around $5 billion previously.

Pfizer surpasses profit expectations in Q2, driven by strong Eliquis sales, reporting 77 cents per share versus 68 cents expected.