Starboard took a significant stake in Pfizer

• Starboard Value has taken a significant stake in Pfizer, people familiar with the matter said.
• The drug giant’s stock has fallen significantly since the launch of the 2021 COVID-19 vaccine.
• Starboard recently took positions in Starbucks and Match.

Starboard Value has its next target: pharmaceutical giant Pfizer.

The activist investor informed Pfizer that it had taken a significant stake in the drugmaker, people familiar with the matter told Business Insider.

Pfizer’s stock has fallen sharply since hitting record highs in 2021 amid the launch of its COVID-19 vaccine.

The Wall Street Journal previously reported on Starboard’s stake.

Starboard, which managed $8.5 billion in assets at the start of the year, recently took stakes in coffee chain Starbucks and Match Group, owner of the dating app Tinder. It also has a stake in Rupert Murdoch’s News Corp and has pushed for a breakup of the media conglomerate.