Pfizer has initiated an additional $2.5-billion restructuring plan, expected to realize savings from 2027 through 2029. The company made the announcement as part of its second-quarter/first-half 2026 results announced this week (August 4, 2026).  

Approximately $1.0 billion of the additional cuts will come from the company’s ongoing overall cost realignment program and an additional $1.5 billion from the company’s ongoing manufacturing optimization program. 

Approximately $5.7 billion of overall net cost savings from Pfizer’s ongoing cost base realignment program are expected to be achieved by the end of 2026. The newly announced plan aims for an additional approximately $1 billion of anticipated net cost savings, in ongoing selling, information and administrative costs, which is expected to be achieved from 2027 through 2029, for a total of $6.7 billion since the program’s inception.  

In addition, the next phase of a multi-year manufacturing optimization program designed to reduce Pfizer’s cost of goods sold is expected to deliver net cost savings of approximately $1.5 billion through 2029, some of which is expected to begin being realized in 2027. Pfizer previously announced that it remains on track to deliver anticipated net cost savings from the first phase of this program of approximately $1.5 billion by the end of 2027 and, with the additional targeted savings from this phase, Pfizer now expects total net cost savings of approximately $3.0 billion from this program through 2029 

Pfizer reported first-half 2026 revenues of $29.48 billion, a 4% gain year over year.    

Source: Pfizer