Pfizer, a number one pharmaceutical company with its research head quarters in Groton and Connecticut was found in 1849. It mainly produces antibiotics, anti-inflammatory drugs, antifungal drugs, neuropathic pain relievers and lipitor as its main products.
• High budget pharmaceutical industries having the revenue of $50 billion.
• Its number one pharmaceutical from sales point of view and its marketing infrastructure is well established throughout the world.
• Pfizer has 7.5% of ranking corporation market share.
• Pfizer has a global working network with 95,000 workers around the globe, in all the continents.
• The company profits has gradually been improved from $48.2 billion in 2008 to $50 billion in 2009 and then jumping directly to 67.8 billion, which means that its sale has increased from 16.02 to 22.89 %, which is the big achievement in rising revenues.
• Their research and development sector is highly established and in good strength, and that is its primary business strategy.
• Their therapeutic coverage is very large and the innovative researchers are broadening it further.
• Their reputation has been established for years on number of products.
• It has wide range of area being worked, that includes Human health, animal health, customer health and corporate groups.
• Involved in licensing agreements with different companies for collaborative research work.
• Their main strength is R & D, sale and marketing of Lipiter, Viagra and celebrex.
• Along with the increased production, Pfizer’s marketing policy includes their products on the prescription writings. This task is done by directly targeting the customers, approaching physicians and targeting drugs management organizations directly.
• In latter stages of production they often discontinue the activity, increasing its demand.
• Not specifically working in the area of primary concern in the drug markets including CV and CNS.
• Its co marketing with other companies and merging with other pharmaceuticals can halter its global popularity.
• Bought King pharmaceutical for $3.6 billion which would open up more manufacture and sales adding to the capital of the company (Carrie, 2009).
• Pfizer is reconstructing its strategically approach by cutting the manufacture cost.
• High profits, revenues and funds are available to uplift the company’s progress.
• Expansion of the biologic pharmacy market.
• Marketing agreements with the leading companies.
• Illegal marketing of Pfizer’s drugs makes it potent not to be reliable, and for that they had to pay the biggest ever penalty in the history of U.S.
• Pfizer is losing its patent individuality by focusing on one product.
• Large manufacture and low research for new inductions in the market could decline the profitability.
• Same products are available at cheaper rates by other brands, like Viagra.
• Outstanding competition of regional markets along with emerging markets of India and China.
• Negatively publicized by being sued by their customers.
• Glaxo Smith. (2008). Kline will overtake Pfizer to become world’s largest pharmaceutical company by 2012. URCH Publishing.
• Court Adjourns Killer Drug Case Against Pfizer. (2007). Retrieved from: http://allafrica.com/stories/200710031150.html
• Off-Label Marketing and Promotion (2010). Retrieved from: http://quitam-lawyer.com/off-label-marketing.html.
• Carrie J. (2009). "In Settlement, A Warning To Drugmakers: Pfizer to Pay Record Penalty In Improper-Marketing Case". The Washington Post. Retrieved from: http://www.washingtonpost.com/wp-dyn/content/article/2009/09/02/AR2009090201449_pf.html.
• Pfizer to buy King Pharma for $3.6 billion in cash. Reuters. (2010). Retrieved from: http://www.reuters.com/article/idUSN1216434820101012.