Finiteness of formal pushforwards

Under mild hypotheses, given a scheme $U$ and an open subset $V$ whose complement has codimension at least two, the pushforward of a torsion-free coherent sheaf on $V$ is coherent on $U$. We prove an analog of this result in the context of formal schemes over a complete discrete valuation ring. We then apply this to obtain a result about gluing formal functions, where the patches do not cover the entire scheme.