The company is Pfizer please answer the following questions for the company. The
ID: 334890 • Letter: T
Question
The company is Pfizer please answer the following questions for the company.
There is no case study to this. I need these questioned answer for the company Pfizer
1. Is your company varying its products or service to adapt to differences in countries? Is the marketing approach different among the nations involved?
2. Is your firm working internationally to access larger markets? To gain low-cost input factors? To develop new competencies? Is its approach in all three areas appropriate?
3. Which of the four global strategies is the firm using? Is this the best strategy for it to use? Why or why not? (Exhibit 10.8 provides a summary of the four global strategies?
Explanation / Answer
Pfizer Inc. is a research-based, global biopharmaceutical company. We apply science and our global resources to bring therapies to people that extend and significantly improve their lives through the discovery, development and manufacture of healthcare products. Our global portfolio includes medicines and vaccines, as well as many of the world’s best-known consumer healthcare products.
1. Yes Pfizer is varying its products or service to adapt to differences in countries Yes the marketing approach different among the nations involved as several of its products either facing or slated to face generic competition.
Pfizer has been working on strengthening its product portfolio as well as pipeline through acquisitions and licensing deals. The September 2016 takeover of Mediation strengthened Pfizer's cancer franchise by adding prostate cancer treatment, Xtandi, to its portfolio. Xtandi is also being evaluated for various other types of cancer and holds immense potential. The June 2016 Anacor acquisition added Eucrisa (carisoprodol) topical ointment for treating eczema to Pfizer's pipeline. Pfizer estimates Eucrisa peak sales potential to be at least $2 billion. The 2015 Hospira acquisition significantly expanded its sterile injectable and biosimilar capabilities.
In addition to acquisitions, Pfizer is looking to drive growth through licensing deals and collaborative agreements. It has strategic deals with big names in the pharma sector like Merck & Co. MRK (for lung cancer drug Xalkori's combination and newly approved Steglatro and its fixed-dose combinations for type II diabetes), Bristol-Myers Squibb Company BMY (for Eliquis) and Glaxo GSK (for its breast cancer drug Ibrance's combination).
2. Pfizer essential health has a strong portfolio and presence in125 countries. It also working internationally to access larger markets like in Europe and ASIA.Pfizer is looking toward cost-cutting initiatives to drive bottom-line growth. The company has been undertaking massive restructuring and cost-cutting measures for the past several years. Management is also looking to focus efforts on areas that have high potential like oncology and geographic regions like Asia.
Yes, all these approaches help Pfizer achieved its cost-reduction goals that were announced in 2009 by the end of 2011, a year earlier than expected, and continues to generate cost savings. The company also achieved its target of bringing about a significant reduction in its annual R&D spend by the end of 2012.
3.Pfizer is using global strategies as
a) Mergers (includes Warner lambert)
b) Acquisitions (includes Taito, Mark Illertissen, Wyeth , NextWave, Excaliard, AstraZeneca Pharma, Inno Pharma etc.
d) Partnerships & Joint Venture (Pfizer & Zhejiang Hisun Pharma Co, together formed Hisun Pfizer.)
Yes, this is the best strategy for Pfizer to use as of now because due to these strategies it gains these below mentioned strengths for themselves:Strong sales and marketing infrastructure.Strong R&D departments.R&D innovation with abroad therapeutic coverage.Existing patent protection for many years on key products
Due to these above-mentioned strategies despite sound financial results, Pfizer market cap outperforms its competitors and Pfizer has a clear focus on emerging markets.