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Topline
Pfizer is implementing a “cost realignment program” expected to save the pharmaceutical giant at least $3.5 billion as it prepares for revenue drops for its Covid-19 vaccine and Paxlovid, a prescription pill for treating Covid-19, according to its updated full-year guidance.
Key Facts
Pfizer expects the cost-cutting program to realize approximately $1 billion in savings in 2023 and at least $2.5 billion next year.
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