Pfizer's Bourla: "I Think We Forgot What It Looks Like To Grow"
The big pharma CEO reflected on his first year of leadership at Pfizer during the Forbes Healthcare Summit and talked about executing on a plan to deliver 6% growth through 2026.
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First-time offerings by drug developers fell from 2018 when 67 launched, but IPO investors’ fortunes improved with a year-end rally providing a 45.1% return versus a 7.5% loss in the prior year.
Pfizer will be active in business development, management said, but with a focus on building out the pipeline with bolt-on deals in the range of a "few billion." Gene therapy remains one area of interest.
Chief Operating Officer Albert Bourla will succeed Ian Read as CEO of Pfizer, taking over the top spot at a steady point in the big pharma's evolution. Bourla's near-term challenges will be navigating the loss of Lyrica and the changing US health care dynamics.