Activist investor Starboard Value, led by Jeff Smith, has acquired a roughly $1 billion stake in pharmaceutical giant Pfizer. The firm is reportedly looking to leverage the experience of former Pfizer CEO Ian Read and ex-finance chief Frank D'Amelio as it seeks to push for changes within the struggling drugmaker.
Starboard Value has amassed a roughly $1 billion stake in drugmaker Pfizer , according to people familiar with the matter.
Starboard's stake comes amid a time of serious struggle at the drugmaker, which has begun to cut costs aggressively as demand for its Covid-19 medicines continues to recede.Albert Bourla,
Pfizer Starboard Value Activist Investing Pharmaceutical Industry Cost Cutting
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