Pfizer signals big M&A with announcement of new CFO April 11, 2022 - Pfizer has signed on a new chief financial officer whose dealmaking experience could prove invaluable for the New York pharma as it looks to deploy its COVID-19 vaccine and drug windfall.
By hiring a chief finance executive with a track record of big M&A, Pfizer is hinting that it could be eying deals, especially given the huge load of cash it has generated from selling COVID-19 products. In addition, the company’s clinical development, manufacturing and commercial capabilities make Pfizer “a very attractive partner across a variety of deal arrangements,” said Pfizer's CEO Albert Bourla.
Pfizer these days has been slimming down while being relatively quiet on the acquisition front with small purchases.
Pfizer did just buy Arena Pharmaceuticals for $6.7 billion to get its hands on an S1P modulator for inflammatory diseases, and it absorbed Immuno-oncology firm Trillium Therapeutics for $2.2 billion last year. Just last week, Pfizer unveiled a $525 million deal to buy respiratory syncytial virus specialist ReViral.
https://www.fiercepharma.com/pharma/pfizer-signals-big-ma-new-cfo-denton-money-manager-behind-cvs-aetna-megamerger