reuters.com

Pfizer Forecasts $9.7B Savings Through 2029 After Earnings Beat

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Sig3.26Sen+1.10Env0.00Soc-0.67Gov0.00

Pfizer expects $9.7 billion in total net savings from cost cuts through 2029 to offset declining COVID revenue and support growth, trimming admin and sales/marketing expenses 3% in the first half while raising R&D 12% year over year. The quarter included a net loss driven by acquisition charges and a $3.8B impairment tied to experimental lung therapy, and sales guidance rose to $60.5–$62.5B.

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