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Market
Will Pfizer announce a new major product or acquisition by December 31, 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official Pfizer announcements, press releases
Story
Starboard Value Acquires $1 Billion Stake in Pfizer, Shares Rise 3%
Oct 7, 2024, 02:50 AM
Activist investor Starboard Value has acquired a roughly $1 billion stake in Pfizer and is advocating for strategic changes to improve the company's performance. The Wall Street Journal reports that Starboard has approached former Pfizer executives Ian Read and Frank D'Amelio to assist in its efforts. Pfizer has been under pressure to enhance its performance, particularly after overestimating future demand for pandemic-related products. The pharmaceutical giant's market cap stands at approximately $160 billion, making Starboard's stake a significant but not controlling interest. Following the news on Sunday, Pfizer's shares rose by 3%.
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Similar markets
Biotech company • 25%
Pharmaceutical company • 25%
Medical device company • 25%
Other • 25%
Yes • 50%
No • 50%
Major acquisition • 25%
Divestiture of a major division • 25%
Significant R&D pivot • 25%
No major changes • 25%
