$1,165,000,000 would be saved by simply dropping health care as an employee benefit. Another $7 billion cost reductions can be derived from converting PFE to a generic drug company. I really do not think there is any money to be made in the primary drug business any more. The future will be generics and biotech based drugs and procedures.
If PFE were to maximize profits these are a couple of actions it could take:
1. Drop all those R&D studies (over 2,000 in total). This would save about $2 billion overhead costs, office space, equipent (auction it off).
2. Drop all clinical trials. This would save about $3 billion. Some of this would require cancellation of contracts with trial contractors.
3. Drop health care benefits for its employees. This would save over $1 billion (they would still keep benefits for those already retired).
4. Lay off half of its benefits managers and staff saving $150 million.
5. Lay off 25,000 of its R&D staff saving an additional $2 billion.
6. Convert a small portion of its clinical trials staff and R&D to generic drug development.
7. Convert PFE to a generic drug company worldwide.
In order to do this, internal politics would require firing nearly 100 percent of management and recruiting replacements from the generic drug industry.