Pfizer's Strong Q3 Earnings Challenge Activist Investor's Push for Change

Pfizer's robust third-quarter results, driven by COVID-19 treatments, complicate demands for a strategic overhaul by Starboard Value.

Pfizer reported a 31% increase in revenue to $17.7 billion, exceeding analyst expectations.
The company's COVID-19 treatment Paxlovid generated $2.7 billion in sales, significantly boosting overall performance.
Pfizer raised its full-year earnings guidance to $2.75 to $2.95 per share, up from a previous range of $2.45 to $2.65.
Activist investor Starboard Value, holding a $1 billion stake, has criticized Pfizer's management for not capitalizing on pandemic-era gains.
CEO Albert Bourla remains confident in the company's strategic direction, despite Starboard's calls for management accountability.