Phase 1: An overview of the company
Introduction to Pfizer
Pfizer was established in 1942 on June 2. It is basically a research and an internationally recognized biopharmaceutical company. The Company has five segments which are specialty care, primary care, Animal Health, Consumer Healthcare and Oncology. Thus, with the help of these five segments the company manages its operations efficiently. The diverse portfolio of Pfizer consists of vaccines and medicines for humans and animals as well. Nutritional and healthcare products are also among their product line.
Its Animal Health unit develops products for preventing and treating diseases in animals. Primary Care segment comprises of pharmaceutical products which are prescribed by physicians. Specialty Care and Oncology segment includes specialty and oncology business unit respectively. Pfizer acquired Next Wave Pharmaceuticals, Inc. in November 2012 (reuters.com)
Revenue in the year 2013 decreased to $51.6 billion that was 6|% as compared to $54.7 billion in the year 2012, which depicted an operational decline of $1.9 billion, or 4% which was primarily due to the growth of certain products, erosion of one of its branded products, lower revenues from one of its products, lower amortization and less government purchases of its products and revenues were largely affected by foreign exchange worth billions (financial report 2013).
At Pfizer, they believe that their medicines provide paramount value to both patients and the healthcare providers. Their medicines not only improve the treatment of diseases but they have other reduced healthcare costs like charges of an emergency room or other costs of hospital, as well as improvements in health and wellbeing.
They also actively communicate the value of their products and how they work with Physicians and patients to treat disease and enhance results. Pfizer employs the legal pricing structures, as well as review the pricing and contracting methods to minimize the possibility of adverse outcomes. They are committed to fulfilling company's purpose and due to this reason they bring innovative therapies for the patients’ in order to improve their lives. Hence, by doing this, they expect to create value for the shareholders and to satisfy the patients they serve (Google Finance).
Pfizer continues to modify their global research and development organization and carries on those strategies which will subsequently improve productivity and innovation in order to obtain a R&D pipeline that will be able to deliver value in both the short and long term (financial report 2013).
Pfizer's R&D comprises of delivering a R&D channel of unique therapies with the greatest promise of satisfying their patients, thus, coming up with new capabilities that will help Pfizer to stand out among all regarding the long-term leadership, and creating new models for biomedical collaboration. Thus, research mainly emphasizes on five areas that have a mix of small and large components such as immunology and inflammation, oncology, cardiovascular and neuroscience. Other priority areas put emphasis on rare diseases.
Despite the fact that a substantial amount of Research and development is done internally, they continue to expand it by arranging agreements with other firms to develop, license or acquire innovative technologies. Additionally alliance, collaborations, license agreements and useful acquisitions allow them to capitalize on these compounds to expand future potential products.
Pfizer is doing mountainous efforts to build their diversified portfolio of business and to expand their R&D through multitude of business transactions. The recent transactions and investments are believed to have the potential to enhance R&D pipeline, improve Pfizer's portfolio of products and increase the value their product line (Financial report 2013)...................................
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