Starboard Value Criticizes Pfizer's Performance

Activist investor Starboard Value is pushing for significant changes at Pfizer, criticizing CEO Albert Bourla for the company's poor financial performance and accountability. Starboard's CEO, Jeffrey Smith, highlighted a $20 billion loss in Pfizer's market value since the pandemic, despite a $40 billion boost from COVID-19 products. The firm has acquired a $1 billion stake in Pfizer and is calling for improved capital allocation, particularly following acquisitions that it claims have not delivered expected returns. Smith also pointed out that Pfizer's R&D investments have only yielded a 15% return, trailing behind competitors. Starboard’s aggressive stance suggests a potential proxy fight for leadership accountability at Pfizer.