I really liked the idea of integrating technology with people. The conversation was going well, so I asked him for an internship.
PFEscripted a new playbook for the drug giant inaccelerating the process of transformation by clinching the largest pharmaceutical deal in nearly a decade. Let's take a look at some of the Pfizer news that made headlines this year.
The Mega Deal Though Pfizer is not new to mega deals, Kindler was dubious of such mega mergers till last year. He preferred only bolt-on or product acquisitions to major acquisitions. However, the craving for new sources of revenue and the inability of the company's near-term pipeline to make up the slack when its blockbusters lose patent exclusivity made Kindler adopt the mega-merger strategy this year and acquire Wyeth.
Wyeth has a promising pipeline as well as a number of blockbusters in its arsenal, including rheumatoid arthritis drug Enbrel, jointly marketed with Amgen AMGNpneumonia vaccine Prevnar, antidepressant Effexor, nutritional products, intravenous antibiotic Zosyn and the hormone replacement therapy Premarin family of drugs.
Pfizer completed the acquisition of Wyeth in October, nine months after the companies inked a definitive merger agreement. No doubt, the acquisition of Wyeth will provide a more diversified portfolio and alleviate Pfizer's sales decline, but this will not be the panacea for the threat caused by the raft of patent expirations, according to research firm Datamonitor.
Wyeth also faces looming patent expiration on its key drug Effexor XR. However, as the company gets rid of operational overlap, the deep cost cuts will see the combined company delivering profit growth.
The revised guidance reflects the completion of the Wyeth transaction. Cost-cutting measures in full gear Pfizer has been in restructuring mode since and has retained its focus on cutting costs, including outsourcing and offshoring to ease the pressure on its topline.
SincePfizer has significantly reduced its workforce. In the first nine months ofthe company reduced its workforce by approximately 6, employees.
The company's aggressive belt-tightening measures are expected to generate significant cost reductions for the combined company. The Neurontin Controversy There are about 1, lawsuits over Pfizer's off-label marketing of Neurontin.
While the drug was originally approved by the FDA as an add-on treatment for partial epileptic seizures in and for the management of post-herpetic neuralgia inPfizer has been marketing it to treat multiple conditions including mood swings and arthritis.
The first lawsuit against Pfizer, in regard to Neurontin came to trial in July of this year.
The suit was filed by the family of Susan Bulger, a year-old woman who committed suicide in Bulger had been prescribed Neurontin for arthritis, an off-label use, and was taking the drug for two years.
However, after just one day of testimony, Bulger's family dropped the case against Pfizer after an anonymous donor offered to set up a trust for the deceased woman's year old daughter.
A review of Neurontin trial results published by Kay Dickersin last month in the New England Journal of Medicine, accuses Pfizer of manipulating the trial data for various unapproved indications. The author Kay Dickersin was an expert witness in the trial.
Pfizer, which has disputed the findings of the article, said the review published in the journal was "derived from a report created for litigation and coauthored by plaintiffs' expert witness, who was hired to produce opinions to support plaintiffs' arguments.
However, Pfizer firmly believes that there is no scientific evidence to prove that Neurontin causes suicidal behavior. However, in Aprila U. This patent expires in Subsequently, the pharma giant launched its own generic version of Neurontin in the U.
Major legal settlements Pfizer, which is no stranger to legal tussles, got itself cleared of some of the legal issues this year by settling with the plaintiffs. After all, legal beagle Kindler knows that closure of significant legal matters will only help his company to enhance its focus on discovering, developing and delivering innovative medicines.
On July 30, Pfizer settled the long drawn-out lawsuit with Kano State government in Nigeria related to the company's study of antibiotic drug Trovan. The suit filed by authorities in Kano accused Pfizer of administering the untested and unapproved antibiotic called Trovan to children during a meningitis epidemic inresulting in the deaths of an unspecified number of children and leaving others deaf, paralyzed, blind or brain-damaged.
According to the lawsuit, Pfizer did not obtain consent from the children's families before enrolling the children in the ill-fated trial. The suit also accused Pfizer of conducting the study of Trovan despite knowing the life-threatening side effects of the drug and being well aware that it was unfit for human use.
However, Pfizer has denied any wrongdoing or liability in connection with the study. In turn, Kano State agreed to dismiss both the civil and criminal Trovan-related cases it filed against Pfizer and various individuals.
Yet another lawsuit that Pfizer resolved this year is a multi-billion dollar settlement and the largest healthcare fraud settlement in the history of the Department of Justice.
The fine was already factored into the fourth-quarter earnings of and no additional charges are expected to be carried over. In October, the drug giant entered into an agreement with drugmaker Mylan Inc. MYL related to a generic version of Vfend voriconazolean antifungal agent.
In the same month last year, Matrix Laboratories Ltd. However, Pfizer did not file a lawsuit against Matrix within the statutory day time period. Now that Pfizer has entered into an agreement with Mylan, the generic drugmaker will have the right to market voriconazole tablets in the U.Wyeth Pharmaceuticals in Operational Transformation Case Solution,Wyeth Pharmaceuticals in Operational Transformation Case Analysis, Wyeth Pharmaceuticals in Operational Transformation Case Study Solution, Appropriate for general management classes stressing operations strategy and senior direction.
I recruited Louis into Wyeth Pharmaceuticals to create and execute an e-business strategy for the Europe/Middle-East/Africa region. Louis fully delivered on my and the company's expectations.
He quickly identified the key areas where the use of the internet could bring strategic value to the business at a regional level, but especially at the Title: e-health entrepreneur, business .
With a portfolio of leading, science-based offerings in consumer, medical devices and pharmaceuticals, Johnson & Johnson has more than operating companies in more than 60 countries employing approximately , attheheels.com: Quality Manager at Johnson & .
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A creative, energetic and business focused leader with a proven track record in technical disciplines within pharma/ biopharma industry and engagement in academia, regulatory and professional attheheels.com: Site Leader at Pfizer Asia Pacific .
Oct 21, · Published on Oct 21, A corporate film featuring sound bite interviews with staffers at different Wyeth locations who have been involved in recent Lean Six Sigma efforts.
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