Pfizer ramps up ongoing restructuring

Pfizer is expanding its multi‑year restructuring, adding another $2.5 billion in cuts across R&D, manufacturing, commercial, and technology functions, with total project costs around $6 billion and expected savings of about $1 billion between 2027 and 2029.

The company is trimming its global cost base under a program called Realigning Our Cost Base, which includes digital‑enablement investments, severance, and asset write‑downs, and aims for roughly $7 billion in savings by 2027.

Separately, biotech spin‑off Lisata Therapeutics has axed about 72% of its workforce—around 15 of 21 employees—after terminating a planned merger with Kuva Labs, to cut expenses and preserve cash while pursuing strategic alternatives such as potential asset sales or even liquidation.