SAN FRANCISCO — At the end of a roundtable lunch with a group of reporters, Pfizer CEO Albert Bourla became impassioned. He admitted that after the company made a “big miscalculation” around the potential sales of its Covid vaccines, Pfizer went into a “spiral of losing credibility.”
But despite the fact that the company’s stock price has not responded as he would like — Pfizer shares are down 5% over the past 12 months — Bourla insisted that the market is overlooking the drug giant’s potential.
“Pfizer is the best company in executing, there is no one like the Pfizer machine in getting things done,” he said. “What we did with Covid is just an example of that, but it is a very important one.” He pointed to the company’s ability not only to develop a Covid vaccine from a standing stop, but also its unique success in creating Paxlovid, a Covid antiviral.
“Pfizer is the same company that saved the world two years ago because we had operational excellence and scientific processes,” Bourla said.
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