Pfizer CEO sees additional $500M in operating expense savings in 2025

Dr. Albert Bourla, Pfizer (PFE) Chairman and CEO, stated: “Pfizer is in a strong position to continue making a positive impact for patients and delivering on our financial commitments in 2025. Our team will build on a year of disciplined execution in 2024 and our product portfolio remains strong. We also expect to continue improving our operating margins with focused financial discipline. We’ve been successful in delivering on our goal of $4 billion in net operating expense savings through 2024 from our cost realignment program, with an additional $500 million still expected to come in 2025. Additionally, in support of our ongoing efforts to improve gross margin performance, we will work to make additional progress with our Manufacturing Optimization Program in the coming year. As we look forward, we are confident in our future. With our clear strategic roadmap, a robust pipeline of potential innovative medicines and vaccines and a talented team laser-focused on execution, we believe we are on course to deliver significant shareholder value.”