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'Activist Starboard Value Takes $1 Billion Stake In Pfizer; Drugmaker's Shares Have Slumped As Demand For Covid-19 Vaccines And Treatments Has Slowed' - WSJ

Author: Benzinga Newsdesk | October 07, 2024 01:03am

https://www.wsj.com/health/pharma/activist-starboard-value-takes-1-billion-stake-in-pfizer-89591cb6?mod=latest_headlines

 

Activist investor Starboard Value has taken a roughly $1 billion stake in Pfizer and wants the struggling drugmaker to make changes to turn its performance around, according to people familiar with the matter. 

Pfizer had a market value of about $162 billion as of Friday. Its shares have been roughly cut in half from a record high notched in late 2021 after the company delivered the world's first Covid-19 vaccine. They are little changed so far this year, compared with a 21% rise in the S&P 500. 

Posted In: PFE


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