Pfizer increased its 2025 profit outlook by 10 cents a share to a range of $2.90 a share to $3.10 a share, citing continued cost cuts, a lower tax rate and “confidence” that strength seen in the first half of the year will continue.

Chief Executive Albert Bourla told analysts he is hopeful about finding a solution in response to President Trump’s demands.

Pfizer said its full-year profit should benefit from cost cuts across its research and manufacturing operations after posting higher-than-expected second-quarter earnings on Tuesday.