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(Reuters) -Pfizer on Friday slashed its full-year revenue forecast by around 13% and launched a $3.5 billion cost cutting program due to lower-than-ex...
The drugmaker said it now expects 2023 revenue of between $58 billion and $61 billion, down from it prior forecast of $67 billion to $70 billion. It said the reduction was solely due to lowered expectations for its COVID-19 products. The cost cutting, targeting savings of at least $3.5 billion by the end of 2024, will include layoffs, the company said, without providing details on how many jobs will be cut or from what areas.
(Reuters) -Pfizer on Friday slashed its full-year revenue forecast by around 13% and launched a $3.5 billion cost cutting program due to lower-than-ex...
Vaccine maker Novavax on Monday said it has shipped millions of doses its updated COVID-19 shots to distributors after receiving the go-ahead from US regulators.
Vaccine maker Novavax Inc on Monday said it has shipped millions of doses its updated COVID-19 shots to distributors after receiving the go-ahead from U.S. regulators. Novavax said it expects the shots to be available at U.S. pharmacies this week. The Maryland-based company, whose COVID vaccine is its lone marketed product, has adopted cost-cutting measures and is counting on commercial sales of its updated shot to help it stay afloat.