Pfizer launches multi-year COGS reduction program; targets $1.5B savings by 2027

PFIZER INC

First phase of cost-reduction program expected to deliver ~$1.5B savings by end of 2027.
One-time costs estimated at ~$1.7B, primarily severance and implementation costs.
Costs recorded mostly in 2024; cash outlays expected in 2025 and 2026.
Program includes operational efficiencies, network structure changes, and portfolio enhancements.
Savings realization expected to begin in 2025.

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