Pfizer stock gains 7% after earnings beat, company calls dividend 'secure'

Pfizer's stock rose by 7% following a first-quarter earnings report that surpassed expectations with $14.9 billion in revenue, despite a 19% decline from the previous year. The company reassured investors about the security of its dividend amidst concerns over its future growth prospects and the impact of expiring patents.

Challenges remain for Pfizer as it faces patent expirations and pricing pressures from Medicare negotiations, particularly for its drug Eliquis. Despite these hurdles, Pfizer's CFO confirmed the company's commitment to maintaining and potentially increasing its dividend, emphasizing its importance to shareholder value.