Pfizer’s yearslong cost-cutting effort is continuing apace, and it disclosed a $4.3 billion write-down tied to a Phase 3 trial miss for sigvotatug vedotin.

Hatched three years ago, the restructuring is now expected to deliver $1 billion in new cost reductions and save Pfizer another $1.5 billion by streamlining drug production.

Pfizer’s yearslong cost-cutting effort is continuing apace, and it disclosed a $4.3 billion write-down tied to a Phase 3 trial miss for sigvotatug vedotin.