Reported about 6 hours ago
Activist investor Starboard Value has acquired a $1 billion stake in Pfizer, aiming to revitalize the struggling pharmaceutical company. The investor is in discussions with former Pfizer executives to strategize a turnaround amidst concerns over Pfizer's post-pandemic performance and declining stock prices. Despite the success of its COVID-19 vaccine, Pfizer faces challenges with new drug developments and has undertaken a cost-cutting initiative. Starboard's investment reflects a broader dissatisfaction among analysts regarding Pfizer's direction.
Source: YAHOO