Health
Starboard Scolds Pfizer Over $20 Billion Value Destruction
- Activist describes Pfizer’s post-Covid share fall as ‘crazy’
- Starboard also wants Kenvue to do more in skin and beauty
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Starboard Value LP Chief Executive Officer Jeffrey Smith said there has been at least $20 billion in value destruction at drugmaker Pfizer Inc., which he admonished for failing to deliver on a pipeline of new potential blockbusters.
Speaking at the 13D Monitor Active-Passive Investor Summit on Tuesday, Smith described Pfizer’s share price drop since the Covid pandemic as “crazy” and said it was time to “amp up the accountability” at the company.