Pfizer beats earnings estimates, targets $2.5 billion in additional cost cuts

GENEVA: Pfizer on Tuesday reported better-than-expected second-quarter results, boosted by strong demand for blood thinner Eliquis, and unveiled plans for an additional $2.5 billion in savings through its ongoing cost-cutting efforts. Pfizer said the additional savings, expected to be realized between 2027 and 2029, will build on existing cost-cutting efforts as it seeks to offset declining COVID-related revenue and restore sustainable growth.

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