Five things to know:
1. The drugmaker said the large profit jump is a result of a 4 percent increase in medicine sales, higher income from recent partnerships and a lower tax rate.
2. Second-quarter revenue topped $13.47 billion, beating analyst expectations of $13.31 billion for the quarter, according to Nasdaq. In the same quarter a year prior, the company had $12.9 billion in revenues.
3. Sales were topped by Pfizer’s pneumococcal vaccine Prevnar 13, which was up 8 percent to $1.25 billion and its fibromyalgia treatment Lyrica, which raked in $1.22 billion.
4. Pfizer saw growth in several key brands, including its cancer medication Ibrance and its anti-blood clot medication Eliquis, which saw sales rise 47 percent in the second quarter.
5. “We reported solid second-quarter 2018 financial results, with total company revenues up 2 percent operationally, driven by the continued growth of key brands such as Eliquis, Ibrance and Xeljanz, as well as biosimilars and emerging markets,” Pfizer CEO Ian Read said.
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