Pfizer: An Economic Report

Essay by KinghighUniversity, Bachelor'sA+, March 2006

download word file, 18 pages 4.6

1. Introduction

The world is changing all around us. In order to stay ahead of this every changing economy, it is important to proactively seek out operations that are better, faster and cheaper. As large pharmaceutical companies become larger pharmaceutical companies through the merger and acquisition of the competition, the dynamics of the company must be accounted for. Companies are becoming more cost focused to ensure the return on investment of developing new pharmaceutical drugs in the Twentieth Century. An example of cost savings is shipping manufacturing plants offshore. This not only changes the American economy, but has a significant impact on the global economy as well. It is not enough to make a better 'pill', but it has to be made smarter. This involves revamping factories to save money and avoiding production mishaps. Healthcare and life sciences companies are going through a fundamental transformation switching from the traditional healthcare approach where one solution is expected to fit all patients diagnosed with a disease to biology based targeted treatment solutions for patients with a specific disease pathology.

This transformation has been a direct result of the global economy. With the competition developing better and cheaper products, Pfizer must streamline operations to develop products that are targeted to specific disease indications that is now possible with new technology. Just as the first farmers had to continue to develop better, more efficient means for producing crops to stay on top of the market, Pfizer must continue to invest in research and development that produce products better, cheaper and faster. In our analyses, we have explored how Pfizer is affected by the global economy. From its inception in 1849 to its first major product, citric acid, to today's recent launches of Celebrex and Viagra, Pfizer has been affected and played a role in...