Pfizer aims to save $1.5 billion by 2027 in first wave of new cost cuts

Exterior view of the Pfizer headquarters building on January 29, 2023 in New York City.Pfizer 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. The announcement is 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 ...