Pfizer's stock, propelled by the success of its COVID-19 vaccine and treatments, has seen a steep decline, shedding $180 billion in market cap since its peak.
Despite its initial success, Pfizer faces new challenges from competitors and has struggled with the demand for its COVID-related products, resulting in a revenue drop.
Activist investor Starboard Value's significant stake indicates potential strategic changes for Pfizer, which aims to recover from its post-pandemic market downturn.
The pharmaceutical giant's investment in obesity drugs and cancer therapies highlight a shift in strategy, although it has faced setbacks in product developments.
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