Pfizer appointed a former chief executive officer at Vanguard, the drug giant's biggest investor, to its board on Tuesday as it faces pressure from activist hedge fund Starboard Value.
This investor's campaign is stoking some undesirable corporate intrigue.
In the closing of the recent trading day, Pfizer (PFE) stood at $29.08, denoting a -0.27% change from the preceding trading day.
Following the FDA approval, PFE's Hympavzi becomes the first hemophilia medicine approved in the United States to be administered via a pre-filled, auto-injector pen.
These two stocks will appeal to very different types of investors at the moment.
The new drug would allow patients to produce the needed clotting protein for an extended period, reducing the need for constant intravenous infusions or injections, which are painful as well as inconvenient.
The U.S. Food and Drug Administration approved Pfizer's once-a-week injection for the two main types of a rare bleeding disorder called hemophilia, the company said on Friday.
There may be changes coming to this company, if the activists get their way.
The company's latest institutional shareholder has made some troubling allegations against it.
CNBC Angelica Peebles joins 'Power Lunch' to report on Pfizer's activist battle.
Pfizer (PFE) shares lost ground Thursday after two former executives released a statement supporting the company's current management after activist investor Starboard Value this week took a $1 billion stake in the struggling drug maker and moved to make changes.
Pfizer (PFE) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.