Pfizer CUTS COSTS after significant decline in uptake of COVID-19 vaccine and Paxlovid

 Vaccine giant Pfizer has been forced to implement cost-cutting measures after a significant decline in the uptake of its Wuhan coronavirus (COVID-19) vaccine and medication over the past 12 months.

According to a Pharmaphorum report, the New York-based pharmaceutical firm is set to cut costs by $1 billion this year and at least $2.5 billion in 2024 – amounting to a rough total of $3.5 billion. Pfizer recorded an annual revenue of more than $100 billion in 2022, with sales of its mRNA COVID-19 injection comprising $56 million of that total.

Now, it projects a much lower revenue for 2023 ranging between $58 billion and $61 billion. The company has not provided any indication of the total jobs to be cut, however...<<<Read More>>>....