Pfizer Cost Improvement Program Depends On COVID Outlook

If COVID-19 product sales don’t meet assumptions this fall, the company said it will consider a cost reduction program to better align costs with future revenue projections.

wallet — Pfizer is reconsidering spending. • Source: Shutterstock

Pfizer Inc. expects use of its COVID-19 vaccine Comirnaty and antiviral Paxlovid will pick up in the second half of the year during the fall and winter respiratory disease season, matching the assumptions management made at the beginning of the year. But if not, the company will undertake a cost-reduction program.

Management assured investors during Pfizer’s 1 August second quarter sales and earnings call that it is aware the company may need to reset spending depending on how the COVID-19 business...

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