CEO Albert Bourla on Transforming Pfizer

Albert Bourla became CEO of Pfizer in 2019 – the pinnacle of a career at Pfizer spanning more than two decades, multiple continents and several different business functions. When he took the helm of the global pharmaceutical company, he accelerated a transformation to become a more science-driven, innovative company. Pfizer divested its consumer businesses that were not innovative medicines and dramatically increased its R&D budget. Bourla laid out a clear purpose for the company – Breakthroughs that change patients’ lives – which is reflected in every part of the new Pfizer.

Just over a year after assuming the role of chief executive, Bourla found himself facing the unthinkable – a once-in-a-lifetime global pandemic. Bourla and Pfizer reacted quickly to the threat of COVID-19, investing more than $2 billion dollars at-risk in pursuit of a safe and effective vaccine. Bourla pushed Pfizer colleagues to complete in just 8 months what would typically take 8-10 years, an accomplishment that required the courage to think big and make counterintuitive decisions. With support of the Board, the dedication of thousands of Pfizer colleagues worldwide and the responsibility to leverage Pfizer’s rich experience in infectious diseases and manufacturing, the company was able to deliver, in collaboration with BioNTech, the world’s first mRNA vaccine.

“When the pandemic hit, I knew that we had to act. I thought ‘if not us, then who?’” said Albert Bourla, Chairman and Chief Executive Officer, Pfizer. “We had the technical expertise and resources to make the bold moves necessary to develop a vaccine in record time – and that’s exactly what we did. I am thankful every day for our scientists and colleagues who had the courage and confidence to think differently about how to not only develop the vaccine but deliver it to people worldwide.”

Bourla often says the problem is not that people aim too high and miss, it’s that they aim to low and hit. He pushed scientists, manufacturing colleagues and all involved in the vaccine research, development and delivery, and the result was a breakthrough that has changed lives, allowed for the reopening of global economies and helped us to get ahead of the pandemic. While the vaccine further demonstrated Pfizer’s ability to provide breakthroughs, the work is not done. That’s why Pfizer colleagues continue to work every day to stay ahead of the pandemic and to get this breakthrough in the hands of all people around the world.

Because of the work Bourla and his team did to transform the company, Pfizer was in a position to act immediately when COVID-19 began to spread. Now, Pfizer is ready for what’s next as the company applies learnings from the COVID-19 vaccine development to other areas of the pipeline. This includes limiting internal bureaucracy, collaborating in new ways within the public and private sectors, and exploring new, innovative ways to tackle diseases with unmet needs. Bourla continues to think outside the box and challenge his employees to make the impossible possible.