Pfizer Q2 results beat estimates on cancer drug sales, but books loss on write-down

Pfizer's second-quarter revenue rose 3% to $15.03 billion, exceeding analyst expectations, as strong sales from cancer and heart medications offset a steep drop in demand for its Covid-19 products. However, the company reported a net loss of $248 million for the quarter, driven by a $3.8 billion write-down on an experimental drug acquired with Seagen. Adjusted earnings of 77 cents per share beat forecasts.