{ "docId": "019dd923-622b-71dc-a6da-7792191b0575", "docSlug": "ca94acfa263b", "documentTitle": "Pfizer Inc. (PFE)", "authorId": "03_Starboard_Value", "authorName": "Starboard Value", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2024-10-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 30, "pageCount": 74, "prevPage": 29, "nextPage": 31, "slideType": "quote_slide", "function": "cite_precedent", "density": "overcrowded", "nDataPoints": 1, "notes": "The slide uses a dialogue format between a GS analyst and the CEO to frame the company's strategic priorities.", "elementsJson": [ "headline_text", "quote_block", "headshot", "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622b-71dc-a6da-7792191b0575/30", "deckHref": "/decks/019dd923-622b-71dc-a6da-7792191b0575", "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-7792191b0575.json", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-7792191b0575#slide-30", "components": [ { "bbox": null, "kind": "callout", "text": "Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-2b66-7100-8969-718e599173ce", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.21, "w": 0.11, "x": 0.85, "y": 0.51 }, "kind": "image", "text": "Albert Bourla", "attrs": null, "subkind": "headshot", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5c65a1d4-e498-41a6-a9be-990e15321fd9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.92, "x": 0.04, "y": 0.15 }, "kind": "paragraph", "text": "Excerpt From 2019 Goldman Sachs Conference (January 3, 2019)", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "77b87610-e7aa-48cb-826c-6cc1448b2fc5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.42, "w": 0.78, "x": 0.04, "y": 0.41 }, "kind": "quote", "text": "I think -- well, it's inevitable that for every CEO, the success is measured through -- with total shareholder return... And the purpose of the pharma company is to bring breakthrough products that change patients' lives... So a way to measure it, for us, it is we have put out there a list of 15 potential blockbusters that could come by the year -- in 5 years...", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e8b323ee-0f49-4c3b-959f-4da17b973a77", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.78, "x": 0.16, "y": 0.215 }, "kind": "quote", "text": "But as you think about what markers you want to set for the company in the near term, so maybe in 12 months' time, kind of on a 3-year view or a 5-year view, how do you deem success over the short term?:", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ea12a9ec-d70a-463b-94db-404fc9ce4e70", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“I think -- well, it's inevitable that for every CEO, the success is measured through -- with total shareholder return... And the purpose of the pharma company is to bring breakthrough products that change patients' lives. So the operational measurement of success will be our ability to have a constant flow of breakthrough innovation... So a way to measure it, for us, it is we have put out there a list of 15 potential blockbusters that could come by the year -- in 5 years, so it is by 2022 when we put it out in '18. And I think my focus would be to make sure that we deliver more than our fair risk adjustment of this number, and that will be success.” — Albert Bourla, Pfizer Chair and CEO", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-2b66-7100-8969-752e7d37da77", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.92, "x": 0.04, "y": 0.89 }, "kind": "subtitle", "text": "Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "201b61da-45b5-471c-b50a-c8c3e4bfd524", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.85, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "Again, Management Defined Success as Constant and Breakthrough Innovation...", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fdbb4192-7988-4f43-8f62-43a5947da155", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Storytelling: audience calibration", "slug": "audience", "agent": "storyteller", "layer": "slide", "matchId": "8b999423-4596-477b-b0ae-6369c87191cb", "evidence": "Excerpt From 2019 Goldman Sachs Conference (January 3, 2019)", "confidence": 0.7 } ], "frameworks": [ { "name": "authority-citation", "slug": null, "matchId": "4c1da31a-4fb3-4845-8b72-6ad2aa504419", "evidence": "Using a CEO quote to validate strategic direction", "confidence": 0.9 } ], "arcBeats": [ { "to": 60, "from": 11, "beatId": "06f958bd-fafa-4ea3-a570-c80d16e2354b", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate (Make it worse)", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The document highlights several issues with Pfizer's strategy, including its poor capital allocation and forecasting and budgeting issues, which have made its performance worse.", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "loops": [ { "to": 73, "from": 10, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "54ce6058-bed8-43c5-8780-84fb43f33c5e", "evidence": "The document highlights the significant losses in value that Pfizer has experienced due to its poor performance, and urges the board to take action to improve this.", "position": 0, "objective": "What are the consequences of not improving Pfizer's performance?", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" }, { "to": 73, "from": 3, "name": "Quick Win Big Bet", "slug": "47-quick-win-big-bet", "bestFor": "Transformation planning, 100-day plans, resource allocation", "matchId": "f6f940a6-6451-4a43-940f-82e2afbdbeb8", "evidence": "The document presents several potential solutions to improve Pfizer's performance, including improving its return on R&D investments and holding management accountable for improving performance.", "position": 1, "objective": "Can Pfizer achieve higher returns on capital?", "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap", "confidence": 0.6, "description": "Separate initiatives into immediate wins and longer-term strategic bets" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }