Pfizer in 2005
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Case Details:
Case Code : BSTA120
Case Length : 15 Pages
Period : 1849-2005
Organization : -
Pub Date : 2005
Teaching Note :Not Available
Countries : USA
Industry : Pharmaceuticals
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Introduction
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The world's largest research-based pharmaceuticals firm, Pfizer was well known for its blockbuster drugs such as the pain management drug Celebrex, antidepressant Zoloft, erectile dysfunction therapy Viagra, and cholesterol-lowering Lipitor.
In addition to prescription drugs, the company made OTC (Over The Counter) remedies, including Benadryl and Sudafed, treatments for common cold. In 2005, Pfizer had ten drugs topping a billion dollars in sales, including Lipitor ($10.9 billion), Norvasc, a therapy for high blood pressure ($4.5 billion), Zoloft ($3.4 billion), Celebrex
($3.3 billion), and Viagra ($1.7 billion).
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Those ten drugs together accounted for nearly 70% of the
company's human health segment sales. Pfizer's largest customers were the three top drug distributors in the US, McKesson, which accounted for 18% of Pfizer's sales in 2004, Cardinal Health (14%), and AmerisourceBergen (13%). Pfizer generated almost 45% of its 2004 sales in the US. Japan was its second-largest market, accounting for 6% of sales.
As 2005 got underway, the major concern for Pfizer was patent expiration. The company had warned investors it would probably lose some $14 billion due to patent expirations by 2007. Meanwhile, the company was spending heavily on cancer-research. Pfizer was also moving in a direction that would pit it against biotech companies such as Onyx, Genentech etc. Would Pfizer be able to find alternative sources of revenue? Would Pfizer's forays into biotech succeed?...
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