Jeff Smith emphasized that Pfizer must 'amp up the accountability' concerning its performance in drug research and development, acquisitions, and financial forecasting.
Smith stated, 'We all get measured by our track record... The track record is not great during this period of time in the pharma industry,' pointing to insufficient returns.
Starboard's 74-page presentation outlined several areas of concern regarding Pfizer’s spending and return on investments, indicating a need for greater discipline.
Smith remarked, 'They have some of the greatest scientists in the world,' yet expressed concern about the lack of effective management of their resources and outputs.
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