Pfizer (PFE) stock experienced a significant jump after the S&P 500 pharmaceutical company surpassed Wall Street’s first-quarter profit expectations through strategic cost-cutting measures. The company anticipates delivering $4.5 billion in net cost savings by year-end. It plans to increase research and development expenses by $500 million by 2026 and boost selling, informational, and administrative costs by $1.2 billion by 2027. Analyst John Boylan from Edward Jones highlighted cost-cutting as a critical focus for Pfizer, with reinvestment into its pipeline. Pfizer reported adjusted earnings of 92 cents per share, exceeding forecasts. Despite a decline in first-quarter sales due to changes in Medicare Part D, Pfizer maintained its sales outlook for the year. Analysts remain cautiously optimistic about Pfizer’s future acquisitions and pipeline developments.
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