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. CEO Albert Bourla also said the company has been in active discussions with members of the U.

Pfizer Inc. raised its profit forecast for the year, with the drugmaker’s ongoing cost cuts helping to make up for a lack of expected sales growth.The company’s stock rose as much as 5.4% in New York Tuesday as investors look for good news after a decline in demand for the company’s Covid products forced the drugmaker to reshape its business.

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