Pfizer says that it must conduct layoffs and budget cuts because profits are so low due to what CEO Albert Bourla calls "Covid fatigue." The CDC estimates that only 2% of Americans have received the most recent Covid booster shot.
While $70 billion does not seem all that bad for a profit report, consider that Pfizer made over $100 billion last year from Covid products. Could this spell bankruptcy for Pfizer on the heals of recent revelations of accused wrongdoing?
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