Starboard Slams Pfizer for R&D Inefficiencies, Overpaid Acquisitions

At an investor summit in New York on Tuesday, activist investor Starboard called out Pfizer's (PFE) board of directors to take action against the latter’s management for making poor capital allocation, research and development (R&D) failures and problems with forecasting and budgeting.Per Starboard, these decisions have resulted in Pfizer losing nearly $20-$60 billion of market value since 2019, despite receiving a $40 billion boost from its COVID-19 franchise during the pandemic.This is the first time that ...