Pfizer and Merck Diverge in Q2 Performance Amid Revised Forecasts

Pfizer achieves revenue growth and raises guidance, while Merck lowers profit outlook despite strong drug sales.

Pfizer reports first year-over-year revenue growth since 2022, driven by non-COVID products.
Merck's Q2 revenue and EPS exceeded expectations, but acquisition costs lowered annual profit guidance.
Pfizer raises its 2024 revenue and adjusted EPS forecast, bolstered by strong sales of cancer and heart drugs.
Merck revises full-year sales forecast upwards, citing robust demand for Keytruda and new drug launches.
Both companies saw significant movements in stock prices following their earnings announcements.