Pfizer is the leading global pharmaceutical company worldwide, focusing on human and animal healthcare. With its headquarters based in New York, it has 16 state-of-the-art research and development campuses, 93 manufacturing facilities in 40 countries with 130,000 employees worldwide, and sales in 150 countries. Pfizer's total revenue for 2003 amounted to $45.2 billion.
Pfizer was founded in 1849 by Charles Pfizer (1824-1906) and Charles Erhart (1821-1891). Its main product was citric acid, until the era of Penicillin discovery and production. Pfizer was actively involved in Penicillin production during World War II, thanks to the invention of the 'deep fermentation' or 'tank fermentation' method of chemical production. By end of World War II, Pfizer was the main producer of Penicillin worldwide.
Pfizer Inc. currently has three main business sectors: human prescription pharmaceuticals (Pfizer Global Pharmaceuticals - PGP) with sales of $39.6 billion in 2003; consumer medicines (Pfizer Consumer Healthcare - PCH) with sales of $3 billion; and animal medicines (Pfizer Animal Health – PAH) with sales of $1.6 billion.
Pfizer's total revenues have grown significantly during the last decade, from $4.8 billion in 1990 up to $45.2 billion in 2003. The company ranks at number six in market capitalisation among all world companies, with a value of $239 billion (Source: MSN, Money Central, October 6, 2003). It is the largest market capitalisation among pharmaceutical companies, enjoying a gap of almost $99 million when compared to the second largest pharmaceutical company.
Focusing on Pfizer Global Pharmaceuticals (PGP), Pfizer advanced from 14th to 1st place among pharmaceutical enterprises in prescription sales. Pfizer currently has a product portfolio that is unparalleled in the history of the pharmaceutical industry, one that includes a wide therapeutic range including:
- Infectious diseases
14 of the main pharmaceutical products in their related therapeutic areas:
Eight of the top 25 best-selling products worldwide:
* The world’s leading pharmaceutical product.
10 products with more than $ 1 billion in annual sales:
Pfizer currently has the largest operation of pharmaceutical R&D in the world. With more than 12,000 researchers in 13 global sites and $7.1 billion in R&D spend for 2003, Pfizer research pipeline at mid-year 2003 included the following profile:
- Over 400 research projects in discovery and development in all therapeutic fields
- 16 new molecular entities in advanced stage development or regulatory review
- 63 new molecular entities in early development
- Over 100 product enhancement projects
Pfizer’s vision for the future is moving even beyond being the number one global pharmaceutical company. In this respect, Pfizer’s purpose states: “We dedicate ourselves to humanity’s quest for longer, healthier, happier lives through innovation in pharmaceutical, consumer and animal health products.” Pfizer’s mission states: “We will become the world’s most valued company to patients, customers, colleagues, investors, business partners and the communities where we work and live."
Pfizer is guided by its corporate values to achieve its vision. Pfizer’s eight corporate values are:
- Leadership: Lead to success
- Performance: Strive for continuous improvement
- Innovation: Look beyond the obvious
- Teamwork: Use each other’s strengths
- Respect for People: Respect each other’s cultures
- Integrity: Behave in a professional and trustworthy manner
- Community: Remember the community we serve
Pfizer leadership disseminates 'leader behaviour' among all its employees as the major tool to achieve its vision and mission:
- Sustain focus on performance
- Create an inclusive environment
- Encourage open discussion and debate
- Manage change
- Develop people
- Align across Pfizer
Hank McKinnell, chairman of the board and CEO of Pfizer Inc summarises the meaning of ‘moving beyond number one’: “We have before us the opportunity to become an enduring leader, contributing more to human health than any company in history.”
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