Pfizer: An Economic Report

4487 words - 18 pages

1. IntroductionThe world is changing all around us. In order to stay ahead of this every changing economy, it is important to proactively seek out operations that are better, faster and cheaper. As large pharmaceutical companies become larger pharmaceutical companies through the merger and acquisition of the competition, the dynamics of the company must be accounted for. Companies are becoming more cost focused to ensure the return on investment of developing new pharmaceutical drugs in the Twentieth Century. An example of cost savings is shipping manufacturing plants offshore. This not only changes the American economy, but has a significant impact on the global economy as well. It is not enough to make a better 'pill', but it has to be made smarter. This involves revamping factories to save money and avoiding production mishaps. Healthcare and life sciences companies are going through a fundamental transformation switching from the traditional healthcare approach where one solution is expected to fit all patients diagnosed with a disease to biology based targeted treatment solutions for patients with a specific disease pathology. This transformation has been a direct result of the global economy. With the competition developing better and cheaper products, Pfizer must streamline operations to develop products that are targeted to specific disease indications that is now possible with new technology. Just as the first farmers had to continue to develop better, more efficient means for producing crops to stay on top of the market, Pfizer must continue to invest in research and development that produce products better, cheaper and faster. In our analyses, we have explored how Pfizer is affected by the global economy. From its inception in 1849 to its first major product, citric acid, to today's recent launches of Celebrex and Viagra, Pfizer has been affected and played a role in the global economy. By reinvesting a large percentage of their profits into research and development, Pfizer continues to steadily grow and return value to its shareholders. As the average cost of producing a single product from development to market approval approaches $800 million, it's becoming crucial to ensure that every effort is being made to develop each product in an economically efficient way. Equally important is realizing when a product does not show enough promise through either safety, efficacy or profitability and to terminate further development. We also take a look at Pfizer's financial report. Through the jobs created to the products it sells, as a large pharmaceutical company, Pfizer has a significant effect on the economy. It is important to understand its role and how the fundamental market indicators have an impact on Pfizer's bottom line. If the economy is strong, more people can afford Pfizer's products. If the economy is weak, people may prefer to purchase generic products instead of Pfizer's branded product line. For example, if the unemployment...

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