Pharmaceutical giant Pfizer reported strong financial performance for the second quarter of this year, despite facing new policy pressure from former US President Donald Trump, including a proposed 250% tariff on the pharmaceutical industry.
The New York-based company recorded sales of $14.7 billion with earnings per share of $0.51, beating market expectations and raising its full-year 2025 profit forecast.
Following the performance, Pfizer shares jumped more than 4% to $24.58 at around 10pm Malaysia time, reflecting investor confidence in the strength of the company's fundamental business.
In an official statement, Pfizer Chairman and CEO Albert Bourla said the company was pleased with the progress made so far and would continue to focus on business development despite operating in an increasingly challenging geopolitical environment.
However, this success came when Trump announced in an interview with CNBC that tariffs on drugs and semiconductors would begin to take effect next week, starting at a low rate, before increasing to 150% and then 250% within a year and a half.
Previously, Trump also signed an executive order establishing the “Most Favored Nation” policy, which requires pharmaceutical companies to sell drugs in the US at prices no higher than those in other developed countries, including Europe.
This aggressive move is feared to put significant pressure on drug manufacturers’ revenues and the availability of supplies to the American people.
Nevertheless, Pfizer has so far been able to maintain its momentum, demonstrating the company’s resilience in the face of drastic policy changes.
