The PFIZER logo is seen outside the pharmaceutical company’s manufacturing plant on February 10, 2025 in Newbridge, Ireland.
Clodagh Kilcoyne | Roots
Fizer On Tuesday expanded its cost cut efforts and Informed The benefit of the first quarter that is estimated, even the company’s sales declined, to a large extent due to the declining revenue for its antiviral covid pill paxloid.
The company had earlier stated that its cost-cut program would provide a total net cost savings of about 4.5 billion dollars by the end of 2025. On Tuesday, Fizer said it is now expected to save an additional savings of about $ 1.2 billion, mainly by the end of 2027, in informative and administrative expenses.
The company said that will be operated in large parts by “enhanced digital enabled”, including automation and artificial intelligence and streamlining business processes.
Extended cuts include the expected research and development reorganization cost savings of about $ 500 million by the end of 2026, the company said. Those savings will be reinstated in the fugger product pipeline.
Fizer is one Different multier initiative To reduce the cost, with the first stage of an attempt to save $ 1.5 billion in savings by the end of 2027. With the cuts announced on Tuesday, the Fizer is now expected to save about $ 7.7 billion in savings by the end of that year with two cost-cut efforts.
The purpose of the cut is to help the drug veteran recover from the rapid decline of its covid business and stock value over the years, and the payment appears.
What did the company tell here First quarter What was expected of Wall Street based on a survey of analysts by LSEG:
- earnings per share: 92 cents adjusted vs 66 cents expected
- Income: $ 13.72 billion vs $ 13.91 billion is expected
‘Volaward external environment’
Results come as drug makers for the President Donald TrumpTariff employed on pharmaceuticals imported in the US – his administration bid to promote American construction.
Along with developing trade policy unlike other companies, Phiseer did not modify its approach.
The company maintained its approach of 2025 for the whole year, with the same performance as its covid products in 2024, predicting the sale of $ 61 billion to $ 64 billion, although the Fizer said in his earnings that the guidance “currently does not include any possible impact related to future tariffs and business policy changes, which we are unbearable at this time.”
In Prepared remarks On Tuesday, Fizer CEO Albert Borla said that the company established a team to analyze a series of potential results and to help develop strategies to help reduce the potential impact of tariffs on its business in short and long periods. This team is managing the current inventory levels in some courts and is taking advantage of the domestic manufacturing footprints of the Fizer with other efforts.
“Should we be influenced by the future tariffs in the future, we will assess the impact of the enacted policies and provide information at the appropriate time,” Borla said.
Fizer still hopes that Changes in medicare program The increase in inflation will result in sales of $ 1 billion in sales, which increased by about 1.6%.
Separating the one -time items, the company hopes that 2025 will be earned within a range of $ 2.80 to $ 3 per share.
Borla said in a release, “With the underlying strength of our business, we believe that we can be agile in navigating an uncertain and unstable external environment.”
For the first quarter, the company booked a net income of $ 2.97 billion, or 52 cents per share. It compares with a net income of $ 3.12 billion or 55 cents per share during the same period a year ago.
The company recorded an income of 92 cents per share for the quarter, except for some items, which involves reorganization of abstract property.
Fizer recorded a revenue of $ 13.72 billion for the first quarter, which was 8% below the same period a year ago.
Covid sales
The company said the reduction in sales was mainly inspired by the fall in revenue for Paxlovid, which posted $ 491 million in sales during the first quarter, 76% below the same period of a year ago, reduced the purchasing of international government around the world due to low covid infections in part.
The decline in sales also reflects a boost physic in the first quarter of 2024, which is from the final adjustment related to the already recorded revenue reversal for Paxlovid.
According to Strikount estimates, analysts expected a selling of $ 769.7 million in sales for the first quarter.
Meanwhile, the company’s covid shot, Komirnati booked $ 565 million in revenue a year ago, up to 60% from the same period. According to the Strikut, analysts expected it to be above $ 352 million.
The results come as a result, such as shot manufacturers such as the manufacturers faced uncertainty on vaccination policy and regulation.
As the Secretary of the Department of Health and Human Services, Kennedy has pursued a broad overhaul of various agencies, cutting employees, consolidating or eliminating offices, and taking action that can eventually reduce vaccines.
