Pfizer (PFE) Starts Another Cost-Cut Plan to Save $1.5B by 2027

Pfizer (PFE) announced that it is launching a new cost-restructuring program to reduce its spending. Spanning across multiple years, the program intends to reduce the company’s costs of goods sold in a multi-phased effort.The first phase of the program, which is focused on operational efficiencies, is expected to save nearly $1.5 billion by the end of 2027. Management expects to start realizing these savings next year.Pfizer expects to incur about$1.7 billion as one-time costs for the first phase of the pr ...