Bourla chooses BD over buybacks in 2020

CEO Albert Bourla outlined his vision for the new innovative business that will emerge from Pfizer after the spin-off of Upjohn, saying that the company would invest in business development and pipeline growth rather than pursue buybacks in 2020.

“The past was a very different Pfizer. The past had to deal with declining revenues, constant declining revenues,” Bourla said on the company’s 2019 earnings call. “Now is a very different situation, we are a very different company. This is a company that is going to have best-in-class, top-line growth with a revenue story.”...