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Transcript of Pfizer
and Brendan Kam Vigorous Protection Share their work Pfizer vigorously protects their products Patents Property Rights Three Requirements to be Patentable 1.) It must be useful 2.) It must be novel 3.) It must NOT be obvious Advantages Ability to capture rents Architechtural Control Incentive Disadvantages Patents Expire All research and development is made public Overview Bargaining Power Licensing Acquistions Mergers Evaluation Collaboration Steps Idea generation Opportunity Allignment Research and Development Analysis Consolidation of Results Negotiation Top Selling Products Through Collaboration Lipitor Celebrex Lyrica Zithromax Specific Mergers and Acquisitions Warner - Lambert Pharmacia Wyeth $115 Billion Lipitor P & G $60 Billion Celebrex $7 Billion R&D $68 Billion Merger Size Criticism Legal Issues Quigley Co. Shiley Co. Pharmacia Sources of Innovation Early Days Today Citric Acid World War I Creative Solutions Fermentation Technology Penicillin Applied Research Basic Research “Dedicated to the success of transformative ideas and partners with whom we work, and we believe in exploring creative models of partnership for transformative change and innovation.” Collaborative innovation Spill over effect Organizing For Innovation Is Bigger better? Advantages Disadvantages Importance of Organization of firm This is something that Pfizer does exceptionally well Structural Dimensions Formalization Corporate Governance Leadership Centralized vs. Decentralized For a firm like Pfizer with multiple R&D projects this is difficult Centralized in power and authority but decentralized through R&D Executive Leadership Team Nine diverse health care businesses Decentralized Research and Development Merger with Wyeth 2 Departments PharmaTherapeutics & BioTherapeutics What this accomplishes Better focused teams led by top scientists Better meet consumer needs New Product Development Process Maximizing fit with customer requirements Controlling Development Costs Phase 1 Phase 2 Phase 3 Phase 4 Minimizing Cycle Development Time Global Centers for Therapeutic Innovation Partnership with the University of California Foster Collaboration Sharing of Research and Tools Building network of Scientists History And
Overview Founded by Charles Pfizer in 1849, Pfizer began as
a fine chemicals producing company Now Pfizer has become the world's largest pharmaceutical company
Based in New York City
Revenues of $68.7 Billion in 2010 Deployment Strategy Development Timing Cannibalizaton Pricing Distribution Marketing Four Phases Rush to market Issues with similar drugs selling above margins Direct sales teams Multiple advertising avenues