Pfizer CEO Bourla Prevails Against Starboard's $1B Activist Challenge
• Activist investor Starboard Value's $1 billion stake and campaign to challenge Pfizer CEO Albert Bourla's leadership has lost momentum after failing to demonstrate compelling evidence for management change.
• Pfizer's Q3 2024 revenues showed over 30% growth compared to Q3 2023, with $854 million in sales from the Seagen acquisition, strengthening Bourla's position and strategic decisions.
• Despite criticism of Pfizer's $70 billion post-pandemic acquisitions, experts argue that Bourla's reinvestment of COVID-19 profits through strategic M&As, including the $43 billion Seagen deal, shows prudent long-term planning.
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