Pfizer Says Net Cost Savings From Now Expected To Reach $6.7 Billion Through 2029

Aug. 4 (Reuters) - Pfizer Inc PFE.N:

• Pfizer: Expect a pivotal trial start this year investigating Nurtec’s use as a treatment for chronic migraine, prepared remarks
• Pfizer: Aim delivering risk-adjusted high single-digit revenue CAGR from year-end 2028 through year-end 2033, prepared remarks
• Pfizer: We now expect an additional $1 billion in savings from our ongoing cost realignment program, prepared remarks
• Pfizer: Now expect total net cost savings of approximately $3 billion from program through 2029
• Pfizer: Powered in part by rapid advancement of technology, net cost savings from now expected to total $6.7 billion through 2029, prepared remarks
• Pfizer: Expect post-2028 cash flow to benefit from previously announced Vyndamax patent settlement
• Pfizer: Targeting first berobenatide approval in 2028, prepared remarks
• Pfizer: Already seeing benefits from AI in reducing costs & expanding yields in manufacturing, prepared remarks
• Pfizer: Plan to advance phase 3 program for berobenatide that includes 10 studies for chronic weight management, obesity-related conditions this year