“Also, I'd like to highlight a significant trend within our portfolio that we expect to fuel the company's top line for the next several years.”

In context

“, which took effect in the first quarter of '25, and overall is largely in line with our expectations. On the bottom line, second quarter 2025 reported diluted earnings per share was $0.51, and adjusted diluted earnings per share was $0.78, ahead of our expectations, primarily due to strong top line performance and our cost management execution. Our results demonstrate the effectiveness of our refined commercial strategy. We remain committed to prioritizing key products and markets, optimizing the global allocation of our commercial field resources and concentrating our marketing efforts on high priority areas. We saw strong contributions across our product portfolio, primarily driven by the Vyndaqel family, Comirnaty, PAXLOVID, Padcev and Eliquis, partially offset by declines in IBRANCE. Also, I'd like to highlight a significant trend within our portfolio that we expect to fuel the company's top line for the next several years. Year-to-date, Pfizer's recently launched and acquired products delivered $4.7 billion in revenue, while growing approximately 15% operationally versus last year. We plan to continue to invest behind these two product groups to drive their future performance and help enable the company to largely offset our LOEs over the next several years. Adjusted gross margin for the second quarter was approximately 76%, primarily reflecting the product mix within the quarter. Looking at our adjusted gross margin performance over the last 2 years, we have largely achieved percentages in the mid to upper 70s when adjusting for Comirnaty, which, as you know, has a 50-50 gross profit split with our partner, BioNTech. In addition, we believe the expected $1.5 billion savings from our Phase I of our manufact”