Pfizer expanded its cost-cutting plans and posted first-quarter profit above estimates, despite a decline in sales driven by falling revenue from its Covid pill, according to CNBC. The company expanded its cost-cutting initiative to target $7.7 billion in savings by 2027, adding $1.2 billion in expected reductions tied to automation, AI, and streamlining operations. Pfizer reported adjusted earnings per share of 92 cents, beating expectations, while revenue missed forecasts at $13.72 billion. Executives said the 2025 outlook includes $150 million in existing Trump-era tariffs but excludes the potential impact of future policies. Pfizer maintained its 2025 outlook, projecting full-year sales between $61 billion and $64 billion.
