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More Cost Cuts At Pfizer Bring Total Savings To $5.5bn

 
• By Jessica Merrill

A new round of cost-cutting at Pfizer will deliver savings of $1.5bn by the end of 2027, the company reported in an SEC filing.

Albert Bourla
Pfizer announced $1.5bn more in cost cuts • Source: Shutterstock

Pfizer Inc. revealed that more cost cutting is in store for the big pharma on top of cost reduction programs already underway. The company revealed the latest cuts in a filing with the Securities & Exchange Commission on 22 May, announcing plans to deliver $1.5bn in annual savings by the end of 2027.

Key Takeaways
  • Pfizer announced a new round of cost cutting aimed at delivering $1.5bn in savings by 2027

The effort, focused on reducing the cost of goods sold, will be a multi-year program, however, with the latest announcement being just the first phase. The program will span multiple years because of the complexity of manufacturing, Pfizer said

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