Biotech Values

[Mufaso]

Dew- How do you read the latest news on PFE and their new activist investor?

Pfizer Stock Rises on Report Starboard Takes Roughly $1B Stake

Starboard Value reportedly has taken a roughly $1 billion stake in Pfizer, as the activist investor seeks to turn the struggling drugmaker around...

According to The Wall Street Journal, Starboard has approached Ian Read, a former Pfizer chief executive, and ex-finance chief Frank D’Amelio to help aid its efforts...

The hedge fund sees Pfizer under current Chief Executive Officer (CEO) Albert Bourla—who took over from Read in 2019—as lacking the M&A discipline of his predecessor, the report said. Pfizer has spent billions of dollars on buying companies involved in producing cancer drugs, including biotech Seagen for $43 billion last year, since Bourla took over.

Could they be pushing to end buyouts for a while or could they be pushing for better buyouts (Obesity?) Or at maybe oust Bourla? Could Read come back and pull a Bob Iger? If he did, do you have an opinion on what he would do or what he would suggest in an advisory capacity?

https://finance.yahoo.com/news/pfizer-stock-rises-report-starboard-104643363.html