Pfizer Inc., benefiting from U.S. tax reform, is pledging to invest in the U.S. through manufacturing and bonuses for its workers.

The drugmaker scored a nearly $11 billion gain from the tax revamp in 2017 because of the changes to how overseas earnings are taxed, the company said Jan. 30 in a statement reporting fourth-quarter earnings. The company said that as a result of the new legislation, it expects to pay tax of about $15 billion over eight years on...