Pfizer's COVID Lesson: Set Big Goals and People Will Meet Them

When the COVID pandemic struck, Pfizer was ready to tackle the challenge of developing a vaccine. That's due in large part to some key decisions CEO Albert Bourla made after becoming CEO in 2019. In this episode of Leadership Next he was also quick to acknowledge the role purpose played in making this feat possible. "I think it was the most important factor," Bourla said. "It was not the singular focus on sciences, it was not the infrastructure were able to develop. It was the culture and the mindset ... breakthroughs that change patients' lives. That's the reason of our existence. This is why we have formed this corporation. Without that there's no reason for us to be part of corporate America ... Companies that are staying true to their purpose always perform better than companies that don't. And I think this is because when you are having a strong focus on your purpose, you coordinate all the resources of the company towards one common goal." Also in the episode: the complicated debate over drug pricing, big lessons learned from the COVID pandemic, and Bourla's top leadership goal.