PFIZER: Seguirán los re_cortes de cabezas...

BY JONATHAN D. ROCKOFF

Pfizer Inc. is looking for $1 billion in extra yearly cost cuts on top of the billions of dollars in cuts to research and development that it was already making, according to people familiar with the matter.

Executives at the drug maker, the world's largest by sales, have been reviewing operations this spring for cuts and plan to begin implementing the reductions later this year, according to these people. The goal: cutting annual expenses by $500 million this year and a total of $1 billion next year, mostly from the company's administrative side, these people said. (Ver)