Pfizer 2Q net income rises 25 percent on lower costs

Pfizer Inc. posted a 25 percent jump in second-quarter net income Tuesday due to aggressive cost cutting and lower restructuring and other charges, shaking off the expected plunge in revenue from generic competition to its cholesterol fighter Lipitor, the world's top-selling drug.

The world's biggest drugmaker easily beat analysts' expectations, and its shares hit a new 52-week high.

The maker of Viagra and painkiller Celebrex said net income was $3.25 billion, or 43 cents per share, up from $2.61 billion, or 33 cents per share a year ago.