Ch. 7 - Business Marketing
Pfizer Ltd, the Indian arm of global drug major Pfizer, has announced its plan to merge with Wyeth Ltd, Wyeth’s Indian subsidiary. In 2009, US-based Pfizer had acquired its rival drug maker Wyeth for $68 billion.
Following the announcement, shares of both companies rose. While Wyeth was locked in an upper circuit after the stock gained 20 per cent, shares of Pfizer hit a 52-week high.
Protalix Biotherapeutics Inc. made a joint venture with Pfizer Inc. for the sale of the drug in the US and Brazil. Under the cooperation agreement with Pfizer, Pfizer makes 60 percent of the revenue and Protalix makes 40 percent, but each company deducts its share of the costs.
Ch. 8 - Segmenting and Targeting Markets
Pfizer Inc. (NYSE:PFE), a biopharmaceutical company, discovers, develops, manufactures and sells medicines for people and animals worldwide. Its Primary Care segment offers human prescription pharmaceutical products primarily prescribed by primary-care physicians.
Pfizer had an instant blockbuster on its hands when it launched Viagra in 1998 for men with erectile dysfunction. It brought in more than $2 billion at its peak and enjoyed a wildly successful life by tackling one of the biggest problems associated with aging (People >=50 years old). While the patents for the drug expired in Europe several months ago, they remain intact in the United States through 2020.
There are plenty of differences, but imagine the market opportunity that exists for a successful therapy that could regrow hair. It might sound like a promise from a late-night infomercial, but it, too, is a reality with 3-D bioprinting. Scientists at Columbia University have pioneered a technology that could one day delay or end baldness. It isn't yet ready for human testing, but the breakthrough was achieved by moving away from 2-D cell culture practices and into 3-D conditions.
Ch. 11 - Developing and Managing Products
Research and Markets: Pfizer's Xeljanz - Is the Oral Revolution Gaining Traction in Rheumatoid Arthritis recently approved by FDA - expectations for Pfizer's rheumatoid arthritis treatment Xeljanz (tofacitinib) were suitably high. The drug - an oral alternative to injectable biologic therapies with a comparative efficacy and safety profile - was widely expected to help spearhead Pfizer's post-Lipitor growth expectations. Consensus expectations in November of last year pointed to full-year sales of around $315 million for Xeljanz in 2013. Based on its current quarterly run-rate, analysts now expect the franchise to generate revenue of about $123 million.
However, failure of Xeljanz to gain approval in Europe is a contributing factor to this downgraded commercial outlook, but in the US market, Pfizer's product has simply not gained the anticipated traction among physicians, despite its oral availability.
This trend says as much about the entrenched competition - particularly AbbVie's Humira, Johnson & Johnson's Remicade and Amgen/Pfizer's Enbrel - as it does about Xeljanz. During Q3, these three biologics were the industry's biggest selling products, generating sales of $2.9 billion, $2.5 billion and $2.1 billion, respectively. In 2012, these three franchises delivered combined global sales of around $28 billion.
Ch. 18 -Social Media and Marketing
Pfizer has a official channels to comunicate people around the world.
https://twitter.com/pfizer_news
Pfizer Inc.
@pfizer_news
The official Twitter channel dedicated to media announcements & investor communications from Pfizer Inc. To see all of our Tweets, please follow @pfizer.
Nicholas Patrick is the official responsible for Pfizer's Corporate Media Relations & Digital Communications at New York Herdquarters
The @pfizer handle wasn’t available when Pfizer first joined Twitter in 2009. They didn’t want to delay their entry into social media, so they decided to choose an alternate handle for their launch: @pfizer_news. While they’ve used the channel primarily for tweeting press releases, @pfizer_news has always been more than just media information; it has served as our primary, official presence on Twitter.
Ch. 10 - Product Concepts
Pfizer is adapting to contemporary communication channels investing in relevant branding and effectively utilize of technology professing the importance of building strong brands in pharmaceutical industry and how the company need to look beyond the conventional marketing techniques and tools.
While acknowledging that pharma companies operated under restrictions on advertising their products, Pfizer has to be creative in its marketing and communication. Today, the top brands in the world are recognized by their slogans. These are strong brands and are consistent with their communication.
Studies indicate that the top 10 (pharma) brands haven't been able to hold their market share and have not enough to invest on building their brands, the brands are built on intellectual property and set accountability of performance of that product.
CH-5 Global Vision
CH-4 Marketing Environment
Practicing Ethical Sales and Marketing
The use of prescription-only medications and vaccines is intermediated by a number of experts, including doctors, pharmacists and payers. Patients depend on these intermediaries to make the right choices in medicines, with the goal of the best health outcome. It is important that these intermediaries, doctors in particular, fully understand the range of options for treatment available to them, and also fully understand the risks and benefits of each treatment. Patients should similarly be informed about treatment choices so they are better equipped to engage in discussions with their doctors and know how to use products safely and effectively.
We are thus committed to promoting our products responsibly and reporting about our business practices in a fashion that promotes transparency. We believe that it is important to educate patients and providers about health care treatments, so that physicians who prescribe our medicines can make decisions rooted solely in the best interests of the patient. Pfizer adheres to all applicable laws and regulations as well as to industry standards. To ensure our communication and marketing approaches uphold the highest standards, Pfizer has extensive mandatory, company-wide training on these standards of communication and conduct.
Global Policy on Interactions with Healthcare Professionals
In an effort to further solidify our commitment to base our interactions with health care professionals on the highest ethical standards, we listened to the concerns of our stakeholders and took action. The result is Pfizer's Global Policy on Interactions with Healthcare Professionals. Adopted in 2005, the Global Policygoverns our pharmaceutical operations around the world, including sales, marketing, medical, and research & development operations.
Available in multiple languages, the new Global Policy incorporates common legal and ethical standards from many of Pfizer's major markets, including the U.S. (Pfizer White Guide, PhRMA Code) and international (EFPIA Code on Promotion of Medicines, IFPMA Code of Pharmaceutical Marketing Practices) and applies them to our operations around the world.
Ensuring Ethical Business Behavior Worldwide
Our policy is based on the principles of maintaining ethics and compassion, building greater transparency and partnering to facilitate access to health care information and medicines. The following are established operating norms worldwide:
- All customer meetings and Pfizer-hosted educational and promotional meetings must focus on education and avoid the appearance of being anything other than educational in purpose. To that end, such meetings cannot include Pfizer-sponsored entertainment (e.g., sporting or leisure events) and must be held in appropriate venues.
- Clinical research sponsored by Pfizer must conform to well-accepted international standards including Good Clinical Practice (GCP) guidelines of the International Conference of Harmonization, the Nuremberg Code, the Belmont Report and relevant national and local standards.
- Medical communications must be accurate and scientifically rigorous; Pfizer colleagues are prohibited from promoting off-label use of medicines.
- Marketing activities with health care professionals must convey full and substantiated information about the side effects and the safety profile of medicines.
- Confidential patient data in Pfizer's care must be safeguarded against misuse or inappropriate disclosure.
- Sales representatives must ensure that no items of significant value are offered as an inducement to use, prescribe, purchase or recommend a product or to influence a clinical trial.
In all cases, Pfizer operations around the world must comply with local laws and all applicable U.S. laws. In the event of a conflict between our Global Policy and other regulations, the more restrictive provision applies.
Direct-to-Consumer Advertising
Responsible consumer advertising has proven value in helping patients engage in more informed conversations with their healthcare providers, leading to better health outcomes. In all of our consumer advertising, we adhere to applicable FDA regulations and guidance. We also abide by the PhRMA Guiding Principles on Direct-to-Consumer (DTC) Advertising About Prescription Medicines. We follow strict internal standards that have been developed to ensure the information we share with consumers is: (1) scientifically sound; (2) balanced; (3) easy to understand; and (4) helpful in encouraging people to consult with a health care professional. And we continue to examine our internal protocols to ensure our DTC standards keep pace with industry standards, guidance, law and regulation.
Post Marketing Commitments
As part of the United States regulatory approval process for new medicines, new uses of existing medicines and the continuous monitoring of safety, companies may be required to conduct additional studies and testing to support the safety and effectiveness of their medicines. In the European Union (EU) companies can be required to conduct additional studies and testing to support the safety and effectiveness of their medicines, or to carry out other defined activities, at any time in the life of a product, These studies, testing and other activities are referred to as post marketing commitments (PMCs). This Web site provides some general information about how post marketing commitment studies are conducted, as well as status information for post marketing commitments listed for US products and for products approved via the Centralized Authorization Procedure (CAP) in the EU.
CH-3 Ethics & Social Responsibility
Pfizer Policies on Business Conduct and Ethics
Pfizer's Standards of Business Conduct help sustain the Pfizer value of Integrity, and is one of the ways we confirm to Pfizer shareholders that their investments are properly managed by the Company. This document includes a summary of information regarding Pfizer policies on the following: Business Conduct and Ethics; Employment; Conflicts of Interest; Intellectual Property and Confidential Information; Use of Electronic Systems; Business Practices; Doing Business Globally; and Corporate Citizenship.
Code of Conduct
The first and foremost responsibility of each employee around the world at Pfizer is to abide by the company's policies on business conduct. Each employee must comply not only with the letter of these policies, but also with their spirit.
Our policies on business conduct, first written more than 20 years ago, are reviewed annually to ensure they meet or exceed evolving legal standards and societal expectations. Colleagues worldwide receive the Summary of Pfizer Policies on Business Conduct, known as "The Blue Book," which has been translated into 28 languages.
CH-2 SWOT Analysis
CH-1 Overview of Marketing
About Pfizer
Good health is vital to all of us, and finding sustainable solutions to the most pressing health care challenges of our world cannot wait. That's why we at Pfizer are committed to applying science and our global resources to improve health and well-being at every stage of life. We strive to provide access to safe, effective and affordable medicines and related health care services to the people who need them.
We have a leading portfolio of products and medicines that support wellness and prevention, as well as treatment and cures for diseases across a broad range of therapeutic areas; and we have an industry-leading pipeline of promising new products that have the potential to challenge some of the most feared diseases of our time, like Alzheimer's disease and cancer.
Corporate Overview
Pfizer Inc: Working Together for a Healthier World®
At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products. Our global portfolio includes medicines and vaccines as well as many of the world's best-known consumer health care products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us.
Mission Statement
The mission of Pfizer's office of Independent Grants for Learning & Change (IGL&C), formerly Medical Education Group (MEG), is to cooperate with health care delivery organizations and professional associations to narrow professional practice gaps in areas of mutual interest through support of learning and change strategies that result in measurable improvement in competence, performance or patient outcomes.
Pfizer
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Parent Company
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Pfizer Ltd
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Category
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Pharmaceutical
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Sector
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Health care
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Tagline/ Slogan
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Doing things differently
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USP
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Pfizer Inc discovers, develops, manufactures, and markets leading prescription drugs
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