Nov 4 (Reuters) - Pfizer ( PFE ) on Tuesday raised its

full-year profit forecast for the second quarter in a row as

robust demand for its blockbuster blood thinner helped it post

third-quarter earnings above expectations.

The drugmaker, which stuck to its full-year revenue forecast

for the year, has benefited from CEO Albert Bourla's

cost-cutting initiatives, new product launches and stable demand

for established drugs that have helped offset declining

COVID-related sales.

Pfizer's ( PFE ) blockbuster COVID products - the Comirnaty

vaccine and Paxlovid antiviral - are now generating only a

fraction of their pandemic-era sales. Demand has stabilized but

remains weak as global vaccination and infection rates decline.

Paxlovid sales fell 55%, while those of Comirnaty were

down 20% in the reported quarter.

PUBLIC FIGHT WITH NOVO FOR METSERA

The upbeat results and outlook come as Pfizer ( PFE ) is engaged

in a public legal fight with Novo Nordisk over

obesity-drug developer Metsera ( MTSR ).

Novo Nordisk recently launched an unsolicited, higher bid

for Metsera ( MTSR ), which had already agreed to an acquisition by

Pfizer ( PFE ). Pfizer's ( PFE ) September deal had valued Metsera ( MTSR ) at up to $7.3

billion.

Pfizer ( PFE ) has filed two lawsuits against Metsera ( MTSR ), its board,

and Novo Nordisk, alleging breach of contract and antitrust

violations. A hearing for one of the lawsuits is scheduled to

take place later on Tuesday.

Novo has rejected Pfizer's ( PFE ) allegations and said it closely

adhered to all of the restrictions under the Pfizer ( PFE ) merger

agreement.

DRUG PRICE DEAL TO PROVIDE "GREATER CLARITY"

In the reported quarter, Pfizer ( PFE ) also became the first

major pharmaceutical company to sign a deal with Trump

administration to lower the price of its prescription drugs in

the Medicaid program in exchange for three years of tariff

relief.

Bourla said the deal will provide "greater clarity" to

its business.

Sales of its blood thinner Eliquis rose 22% to $2.02

billion, revenue from its heart disease drug, sold under the

brand names Vyndaqel and Vyndamax, rose 7% to $1.59 billion.

On an adjusted basis, Pfizer ( PFE ) earned 87 cents per share in

the reported quarter, compared with analysts' expectations of 63

cents per share, per data compiled by LSEG.

Total sales for the quarter came in $16.65 billion, compared

with analysts' average expectation of $16.58 billion.

The company said it expects adjusted earnings of $3.00 to

$3.15 per share, up from its prior view of $2.90 to $3.10.

(Reporting by Mrinalika Roy and Christy Santhosh in Bengaluru;

Editing by Saumyadeb Chakrabarty)