Pfizer raised its full-year profit forecast on Tuesday while reporting second-quarter results that topped Wall Street estimates, and said it expects to benefit from cost-cutting and a weaker dollar.

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 1.5% in premarket trading 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.

The results come as Pfizer and other drugmakers grapple with Trump's calls to lower U.S. drug prices and brace for his planned tariffs on pharmaceuticals.