NEW YORK — Shares of Pfizer Inc. climbed further Wednesday morning, trading at $29.09, up 54 cents, or 1.89%, as of 10:02 a.m. ET, matching a fresh 52-week high the pharmaceutical giant first touched earlier this week amid a wave of positive news for the company.

Pfizer's stock has now gained approximately 20% since the start of the year, marking a significant recovery for the drugmaker as it works to move past two years of declining COVID-related revenues and reposition itself around a broader portfolio spanning oncology, cardiometabolic disease and vaccines.

The stock's climb this week has been driven by a combination of factors, including a landmark drug pricing agreement with the Trump administration, a stronger-than-expected second-quarter earnings report, and the resolution of a major legal settlement tied to one of the company's contraceptive products.

Pfizer was among the pharmaceutical companies that reached a new drug pricing deal with President Donald Trump's administration as part of the White House's push to align U.S. drug prices with those paid in other developed countries, a policy the administration has branded "most-favored-nation" pricing. Under the agreement, Pfizer said it would voluntarily align prices for its drugs in Medicaid programs with those charged internationally, while also offering medicines directly to consumers at steep discounts through a new government-run website, TrumpRx.gov.

Pfizer said the majority of its primary care treatments and certain other brands, including the rheumatoid arthritis drug Xeljanz, the dermatitis treatment Eucrisa and the........

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