Pfizer Overview 2012 Essay

1905 words - 8 pages

| Pfizer |
Memo
To: Professor Fear
From: Alexander Ouji
Date: [ 1/30/2012 ]
Re: Pfizer Overview
Pfizer is the largest pharmaceutical company in the world.  Upon reviewing annual reviews and financial reports from the past 5 years, Pfizer, although dealing with many issues both inherent and external, is keeping a stable financial condition as well as keeping its strategic operations aligned with its goals and objectives.  The following is an overview which will further explain the company’s management and financial climate.
 
Strategy
 
Pfizer’s broad goal is to apply science and global resources to improve health and well-being at every stage of life.[1]  Their strategy has been ...view middle of the document...

, Claris Lifesciences Ltd., and Strides
Acrolab—all which add new non- Pfizer products to further diversify their portfolio and
also add accessibility to undeserved people worldwide.[5]
        Their biggest and arguably the stock exchange’s biggest deal since the housing bubble
crisis, was the acquisition of former competitor company Wyeth, a deal finalized in late
2009 which solidified Pfizer’s rank as the world’s number one pharmaceutical company,
and also strengthened them in terms of portfolio diversity and financial condition.  The
sheet below taken directly from their 2010 annual review, displays the effects of the Wyeth
acquisition.

 
[6]

Goodwill and other identifiable intangible assets greatly increased along with the total debt following the acquisition.  The most positive result from the acquisition was the increase in revenues of 36 % between 2009 and 2010.  As was the 92% increase in total assets reported in 2009 shortly after the deal was closed.  All in all, Pfizer has reported to shareholder’s that the acquisition of Wyeth, famous producers of products like Advil and Centrum, will greatly enhance the company as a whole, not to mention the elimination of the 5th largest competitor.

Revenue has stayed steady, something both Jeffery Kindler and Ian Read have both stressed and promised to shareholders. Some of this is done through establishing new products after older ones fade out, some of it is done through focusing on different business units for revenue, and the rest is done through good old fashioned tweaking of the accounting.  
 
The acquisition of King Pharmaceuticals will greatly impact Pfizer’s condition as well, further diversifying its portfolio.  It will allow Pfizer to leverage its existing commercial capabilities and expertise to create one of the leading broad portfolios for pain relief and management in the biopharmaceutical business. 
 
Business Segments
Pfizer is divided into two major segments or divisions: Biopharmaceuticals, which account for 86% of total revenue, and Diversified, which accounts for 14%.  [7]
The Diversified segment includes animal health, consumer healthcare, and nutrition amongst others.  Pfizer’s main revenue generating division, Biopharmaceuticals, which accounted for $58.5 billion in revenue, includes primary care, specialty care, established products, emerging markets, and oncology.[8]  Some of the major products include:

* Lipitor – The world’s best selling drug. It reduces cholesterol and possesses unprecedented safety and effectiveness.  A significant contributor to the company’s growth in recent times.
        Enbrel – The largest drug acquired through the Wyeth deal.  It’s prescribed to treat various forms of arthrititis, plaque psoriasis, and ankylosing spondylitis.     
        Lyrica – Used to treat epilepsy.  It was one of Pfizer’s most successful launches...

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