Pfizer reported better-than-expected second-quarter results, as rising sales of drugs for cancer and heart disease helped offset steep declines for Covid-19 products. The New York company also slightly raised the bottom end of its forecast range for full-year 2026 revenue. Pfizer shares were largely unchanged in premarket trading.

Pfizer is trying to recover from a postpandemic hangover in which demand for its Covid-19 vaccine and treatment have plummeted. The company is bracing for patent expirations on leading drugs that will pressure its revenue growth in coming years. To address these challenges, Pfizer said Tuesday it is expanding ongoing cost-cutting programs.

The mixed results highlight the company's transition away from pandemic-era revenue streams while leaning on its broader drug portfolio. Investors remain cautious as Pfizer navigates patent cliffs and seeks consistent postpandemic growth across its key therapeutic areas.