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Pfizer in the Global Economy
Transcript of Pfizer in the Global Economy
Pfizer conducts clinical trials in over 60 other countries
These trials are held to international standards
Operations outside the U.S. are managed through the same system as the one used in the U.S.
Pfizer recently partnered with Makerere University in Uganda to build a regional HIV/AIDs treatment, research, training institute
Pfizer trains scientists in developing countries An Overview Pfizer is currently well established in North America, the European Union, China, India, and Brazil. The advantage Pfizer has over other drug companies is that it is already entrenched in the markets of China, India, and Brazil whereas others are just entering these markets. In order to continue its growth, Pfizer is currently expanding to Kenya with the hope of entering the African market. Where are their customers located? Due partially to the European debt crisis, as well as the loss of their patent on one of their best selling drugs, Lipitor, Pfizer is only expecting a 1-2% growth in Europe. In total their European revenues were down 5% from last year to $9.3 billion. To make up for their lack of growth in Europe, Pfizer is trying to expand their emerging markets unit, which grew 14% in the last year. Effects of the European Debt Crisis It appears as though Pfizer is successfully taking advantage of the global economy. Even though their European growth has been slowed by the debt crisis, their business outside of the U.S. has grown from 59% of their total business to 62%. To be more competitive in the global market they should continue to focus on their Emerging Markets unit. How to be more competitive in the global market: www.pfizer.com