03:33 PM EDT, 06/10/2024 (MT Newswires) -- Pfizer ( PFE ) is pausing sizable acquisitions as it looks to integrate existing investments into the business, the company's chief executive said Monday at Goldman Sachs' annual healthcare conference.

After spending over $70 billion in the last 18 months, including $43 billion to buy Seagen, Albert Bourla said the company needed to catch its breath and "execute well on those" it has already acquired.

Taking about stock performance, Bourla said he was disappointed with it in 2023, but underscored Seagen's integration as a driver for growth.

"We need to make sure that we integrate Seagen in a way that we develop oncology leaders. I think that is going very well," Bourla said.

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