albert bourla. thank you very much for being here today.024, you said it was all about execution. so what is the focus this year? >> the focus is pipeline. last year it was execution on commercial front so that you can regain market share that we felt that we could have done better in '23, and we achieved that very well. in '24, it was execution of the pipeline. >> how are you going to do that? >> we have a lot of changes implemented in 2024, but when it comes to rnd, we have new leadership of rnd. we have just reorganized our rnd organization into four end to end units like the oncology unit that we had before. oncology was the most successful unit of pfizer in terms of rnd productivity and medicines that really mack really make a difference in human lives and it was end to end from early to late and now we have organized like for biotics and all of the units of pfizer and of course, we are having 13 new phase 3 studies, but are expected to start this year and eight phase 3 studies are expected to come out this year so a lot of that catego

on monday we'll be live from the conference talking to pfizer's ceo albert bourla and ray stevens askingnd much more. >> angelica, thank you. for more on what investors can expect, let's bring in portal innovation ceo, investor in early stage life sciences companies, and adding partnerships to its portfolio companies. great to have you with us. >> great to see you again. >> you will be there, of course. how will the tone be different because of an incoming trump administration in terms of deal making, et cetera? >> i mean, 2024 was a relatively rough year for biotech, biopharma and pharma stocks. the dampers last year were primarily inflation and then you had the election uncertainties. with the election behind us, there was an initial concern around who was coming in as head of hhs. that noise is starting to subside. but the stocks really took a hit toward the end of the year. as you enter into 2025, i think there's reason for optimism. with inflation generally in check, with tax cuts on the horizon, which favor riskier bets and riskier stocks, as well as an administration that i think,

we have stanley druckenmiller and pfizer ceo albert bourla.pod on your favorite podcast app. we will release a special edition on monday as part of the inauguration coverage. "squawk box" will be right back. (♪♪) (♪♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com >>> welcome back to "squawk box." mellody hobson informed the board she would not stand. she feels starbucks is in excellent hands of the ceo brian niccol. the quarterly results are expected january 28th. she had been a hugely part of the starbucks story in the last decade plus. >>> coming up, a closer look at the chip sector. check out the divergence. broadcom is up nearly 30%. amd now down more than 20%. nvidia roughly flat. we'll talk to an analyst next. (traffic noises) (♪♪) the

those include investor stanley druckenmiller and albert bourla. separately, microsoft ceo satya nadella dined with trump and vice president ce yesterday. they discussed a.i. and cybersecurity and including the microsoft pledge to invest $80 billion worldwide. no word on whether nadella will attend the inauguration, but microsoft was one the companies that contributed $1 million to the inauguration fund. >> my understanding he is not attending. a bunch of people headed to davos and a unch headed to the inauguration and davos. he is on the straight to davos list. >>> in the meantime, launching the new glenn rocket for the first time. the company conducting flight using ability boosters. the upper stage of the rocket successfully reaching orbit. it is the first time blue origin sent up its own rocket. previous flights used short tourism trips and it was a very spectacular moment. this is a huge, huge deal in the world of space and space race to see this go up in the air. i know it's been a long time coming for this company. >>> and apple losing its c

albert bourla, obviously ceo, has been down to mar a lago.tainly has to be trying very hard to make sure that rfk jr doesn't ban any vaccines. right. and i always put up a 20 year because it is up for 20 years, about 11%. you see the tuberculosis. >> outbreak in kansas. >> i didn't. >> worst outbreak of tuberculosis. do you really think that that happens to be coincidence? >> 14%. >> i think that that was something we beat. tuberculosis. but i guess if you don't take a shot against it, we didn't. all of healthcare is up. i think that rob davison at merck, that's been a one way stock down, even though he's done some terrific things. he's got a great heart drug, but it doesn't seem to matter at all. look at unitedhealth. so there's an example unitedhealth. they win no matter what. and i don't want to pick on them because we know there's a tragedy there. but there are certain stocks that just come back to over and over and over again. carl. and i just think that these are the ones that people say, oh, that can't be hurt. that can't be hurt. that

we had albert bourla yesterday. he pointed out radical change. the idea of radical change is one lots of people are trying to adjust to. his perspective was there was most potential upside than downside. everyone you talked to is trying to figure out what that change is going to mean and trying to figure out how to adjust to that because that is the one thing that is certain as there is going to be massive change that comes. that's the stated intent of donald trump. he wants to change things. he wants to shake things up. even reading today in the "wall street journal" how he may have the gsa, the government's landlord basically selloff 2/3 of the portfolio of real estate they hold. if you think of that in one small area, one sector, that kind of change being dropped across the entire universe, there's a lot of adjustment and certainly some uncomfortable feelings that people particularly in power today may have with that. you have to figure out where the winds are blowing and how that's going to shake out and what that means. that's the same conve