Pfizer has recently announced a new multi-year cost-cutting program to reduce expenses by $1.5 billion by the end of 2027. This initiative is part of Pfizer’s broader strategy to adapt to the changing pharmaceutical landscape, especially as the company faces declining COVID-19 vaccine and treatment sales revenues. It’s the pharmaceutical giant’s way to monetize what ails you.
Pfizer Adjusts to Lose of Revenue Since It’s COVID-19 Hayday
“Our cost control element across our manufacturing platform was really strong. We expect that to continue to be a focus,” said David Denton, Pfizer’s Chief Financial Officer, highlighting the importance of operational efficiencies in maintaining the company’s profitability.
Pfizer Hinders Patient-Doctor Relationship
The program will involve operational efficiencies, network structure changes, and product portfolio enhancements. Pfizer plans to record one-time charges of $1.7 billion, primarily related to severance and implementation costs, with most cash outlays expected in 2025 and 2026.
“Research shows that many people in the US are overwhelmed by the abundance of online health information, especially when they are already ill, have questions, and need to make the best decisions for themselves and their loved ones,” wrote Pfizer CEO and Albert Bourla on X, in announcing the new online product. Comments were turned off in his thread.
Since the height of the so-called COVID-19 pandemic, when the pharmaceutical giant was earning hundreds of billions of dollars in government contracts for its once-promised “miracle cure” mRNA shots, Pfizer’s share value had dropped by 50 percent. Government subsidies for Pfizer’s vaccines and tablets have ceased, forcing the company to refocus on finding new ways to profit from the newest medical fad.
The company has also made strategic acquisitions, such as the $43 billion purchase of cancer drugmaker Seagen, to bolster its oncology portfolio. “Biologics represent a more durable revenue potential…,” noted Suneet Varma, commercial president of Pfizer Oncology, indicating a shift towards biologics and away from small molecules due to regulatory and market dynamics.
Let’s Test the VaxAssist Eligibility Tool
Upon learning about Pfizer’s “VaxAssist Eligibility Tool,” I opted to give it a test run. I entered the data fields, where I was 18-59 years old and 32 – 36 weeks pregnant. I suffered from asthma, had a chronic blood condition, and was unvaccinated. To no surprise, the results said I was eligible to receive up to four vaccinations.
The drugmaker recommends that you make an appointment for $35 with a Pfizer-approved telehealth consultant—a “licensed healthcare provider” who is not a doctor—rather than visiting your physician and getting examined in person. Additionally, the website advises you to “investigate a Pfizer COVID-19 treatment option,” which directs you to an infographic regarding the COVID-19 pill Paxlovid, which is proven to be ineffective in several studies.
