Drugmaker Pfizer beats earnings estimates, targets $2.5 billion in additional cost cuts

Pfizer has reported impressive second-quarter earnings, driven by the success of Eliquis and newly acquired pharmaceutical products. The company is planning $2.5 billion in cost-saving measures expected to be in place by 2029. With a focus on innovative treatments, Pfizer aims to reduce reliance on older, high-grossing medications and looks forward to a notable growth revival post-2028, actively pushing its obesity treatment initiatives.