Pfizer Inc. is one of the major leaders in the pharmaceutical industry. They research and develop prescription medicines that are available for both humans and animals and are responsible for some of the most well-known drugs in the world. Pfizer targets health care, animal health, and consumer health care and it has products available in more than 150 countries. Pfizer’s mentality is mostly geocentric, which means they are known for applying standards that are both universal and local to evaluate all parts of their company. In Pfizer’s 2003 Annual Report it stated that they planned to measure performance both at the headquarters and at each of the subsidiaries according to three activities—financial performance, the ability to increase the availability of healthcare, and the level of corporate social responsibility. Their business structure is very complex and the size and resource distribution represent Pfizer’s requirement of a creative organizational structure to support them.
According to Pfizer’s 2010 financial statement they exceeded their revenue and earnings
per share goals. Pfizer recorded record sales of $67.8 billion on a diverse group of products. In their biotechnology organization they focused more on prescription-only human health products and brought in $58.5 billion in sales, up 29% from 2009. The company believes that this success was due to the addition of their Wyeth’s products. Pfizer is staying on track to achieve their multiyear cost reduction goal of about 4 to 5 billion dollars by the end of 2012. They were able to
achieve more than $2 billion in cost reductions in 2010 and their adjusted diluted earnings per share of $2.23 exceeded their guidance for the year. In December 2010, Pfizer’s board of directors approved an 11% increase in the first quarter dividends to 20 cents a share. They stated that they expect to repurchase around $5 billion of common stock during 2011.
per share goals. Pfizer recorded record sales of $67.8 billion on a diverse group of products. In their biotechnology organization they focused more on prescription-only human health products and brought in $58.5 billion in sales, up 29% from 2009. The company believes that this success was due to the addition of their Wyeth’s products. Pfizer is staying on track to achieve their multiyear cost reduction goal of about 4 to 5 billion dollars by the end of 2012. They were able to
achieve more than $2 billion in cost reductions in 2010 and their adjusted diluted earnings per share of $2.23 exceeded their guidance for the year. In December 2010, Pfizer’s board of directors approved an 11% increase in the first quarter dividends to 20 cents a share. They stated that they expect to repurchase around $5 billion of common stock during 2011.
Pfizer was also able to meet expectations in other key performance indicators that other companies in the pharmaceutical industry are starting to adopt. These indicators include environmental sustainability, investments in treatments for neglected diseases, and
improvement in access to medications.
improvement in access to medications.
Looks like Pfizer successfully incorporated Wyeth and has already started eliminating redundancies. Also shows they're ahead of the curve in neglected areas on their competition.
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