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Ian Read - 1 Frank D'Amelio - 1 Albert Bourla - 1 Oxbryta - 1 Read - 1 Jeff Smith - 1 Angelica Peebles - 1
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Pfizer - 1 Blood Therapeutics - 1 Autodesk - 1 Street - 1

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☆ Activist Starboard Value has $1 billion Pfizer stake, taps former executives for help, sources say
  + stars: | 2024-10-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com   time to read: +2 min
Activist investor Starboard Value has a roughly $1 billion stake in pharmaceutical giant Pfizer and is seeking to mount a turnaround at the struggling company, according to people familiar with the matter. Starboard believes that Pfizer's current leadership, under CEO Albert Bourla, has stepped away from historically disciplined cost structure and investment in novel drugs. One particularly concerning example to Starboard was Pfizer's acquisition of Global Blood Therapeutics. Pfizer pulled a drug for sickle cell disease it got just two years ago via the roughly $5 billion acquisition. Still, more than $100 billion in shareholder value has evaporated since the Covid-19 pandemic faded largely into the rearview mirror.
Persons: Ian Read, Frank D'Amelio, Albert Bourla, Oxbryta, Read, Jeff Smith, Angelica Peebles Organizations: Pfizer, Blood Therapeutics, Autodesk, Street
☆ Pfizer beats profit estimates on demand for new drugs, COVID products
  + stars: | 2023-05-02 | by ( ) www.reuters.com   time to read: +1 min
Companies Pfizer Inc FollowMay 2 (Reuters) - Pfizer Inc (PFE.N) on Tuesday beat analysts' estimates for first-quarter profit on strong demand for its newly acquired drugs and steady demand for its COVID products, sending its shares up nearly 3% before the bell. The company has said it expects 2023 to be a "transition year" for its COVID products, before potential returning to growth in 2024. The company said it expects significantly lower sales contributions from COVID products in the second quarter from the first quarter. Excluding COVID products, Pfizer said first-quarter revenue was mostly driven by recently acquired products, including migraine drug Nurtec ODT and sickle cell disease treatment Oxbryta. Pfizer also maintained its annual COVID products revenue forecast of about $21.5 billion from both the vaccine and the pill.
☆ Goldman Sachs upgrades Pfizer, says pharma giant can outperform even as Covid demand diminishes
  + stars: | 2022-12-13 | by ( Alex Harring | ) www.cnbc.com   time to read: +1 min
Pfizer 's work on new products will help the company maintain its Covid momentum even as vaccine becomes a smaller business element, Goldman Sachs said Tuesday. Analyst Chris Shibutani upgraded the stock to buy from neutral with a price target of $60, which reflects a 15% upside over Monday's close. His previous price target of $47 indicated the stock would fall from Monday's close. But he said the diversity within Pfizer's pipeline bolsters optimism that the company can perform even if it has a Covid trough. Outside its the company's Covid offerings, Shibutani sees potential in its late-stage growth offerings including the RSV vaccine, Nurtec for migraines and Oxbryta within the sickle cell space.
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