Pfizer adds $2.5 billion to restructuring, targeting $6 billion savings by 2029

Pfizer announced an additional $2.5 billion in cost reductions as part of its ongoing restructuring program.

The new cuts focus on technology and simplification across commercial, R&D and manufacturing, and are expected to generate $1 billion in savings between 2027 and 2029.

Combined with earlier initiatives, Pfizer now projects total savings of $6.7 billion through 2029, including $1.5 billion from product portfolio enhancements and operational efficiencies.

The moves come as the company navigates post-COVID market pressures and patent expirations on key products such as the blood thinner Eliquis.