Pfizer is also carrying out another $4 billion cost-cutting effort, which it announced last year as demand for its Covid vaccine and drug Paxlovid slumped.
Pfizer said it has launched a new multi-year program to reduce costs as it works to rebound from the rapid decline of its Covid business.
The reductions are in addition to another $4 billion cost-cutting effort, which Pfizer announced last year as demand for its Covid vaccine and oral drug Paxlovid slumped. In a securities filing, the pharmaceutical giant said the first phase of its new program is focused on operational efficiencies and is expected to deliver savings of about $1.5 billion by the end of 2027.on Wednesday said it has launched a new multi-year program to reduce costs as it works to rebound from the rapid decline of its Covid business.
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