Starboard’s stake comes amid a time of struggle at the drugmaker, which has begun to cut costs aggressively as demand for its Covid-19 medicines recedes.

Activist investor Starboard Value has acquired a significant stake in Pfizer, valued at around $1 billion, as it aims to drive a strategic overhaul at the struggling pharmaceutical giant. The move comes as Pfizer faces mounting challenges,

Activist investor Starboard Value has taken a stake of about $1 billion in Pfizer and wants the U.S. drug giant to make changes to turn its performance around, sources familiar with the matter said on Sunday.

KEY TAKEAWAYS Pfizer CEO Albert Bourla reportedly is planning to meet with Starboard Value after the activist investor took a $1 billion stake in the struggling drugmaker.Bourla and at least one other director will hold discussions with Starboard next week,

Shares of Pfizer (PFE -0.07%) have been stuck in the mud since December 2022, with its shares down more than 45% over that stretch. Despite its underwhelming performance, many ind

Starboard has a roughly $1 billion stake in the drugmaker and approached former Pfizer CEO Ian Read and ex-CFO FrankD'Amelio, both of whom expressed interest in supporting the act

Shares of Pfizer PFE rose 2.17% on Oct. 7 after a report from The Wall Street Journal stated that activist investor Starboard Value has taken a roughly $1 billion stake in the company. Investors cheered the news on hopes of a plausible turnaround with this investment.