Pfizer Global Strategic Management Essay

This essay sample is on  Pfizer Global Strategic Management for Singapore students. Here we will discuss the Pfizer Inc. Overview, Products, Markets, Strengths, Risks, Pfizer business strategy 2020, Pfizer strategic objectives 2021, etc.

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Introduction- Pfizer Global Strategic Management Essay

We all know the name of Pfizer as it has been providing the vaccine for Coronavirus. In this sample essay, we shall be looking at Pfizer Global Strategic Management. Here, we shall be looking at its products, strengths, weaknesses, and so on. Thus, without further adieu:

Main body- Pfizer Global Strategic Management Essay

Pfizer Inc. Overview

Pfizer Inc. is a main pharmaceutical corporation within the international market. The business enterprise’s multinational operations enable it to benefit from monetary upswings in various local markets, no matter crises in others. founded in 1849, Pfizer is a famous logo around the arena. The corporation’s organizational size is a consultant of its global success.

Moreover, No matter monetary challenges in the u.s., which is the largest marketplace for biopharmaceutical products, Pfizer Inc. continues profitability and business growth. however, the organization reviews challenges linked to the expiration of a number of its most precious patents.

Furthermore, This condition calls for strategic motion that exploits fundamental possibilities in the marketplace to make certain business growth and improvement. Such expiration reduces the sales potential of the enterprise, as normal drug firms reduce Pfizer’s market share for the goods with expired patents. The organization should put into effect strategies to make sure long-term growth notwithstanding the most important adjustments in its patent portfolio.

Products

Pfizer Inc. has fairly successful merchandise which has to turn out to be popularly regarded the world over. With a large studies and development (R&D) arm, the company continues to develop and introduce novel merchandise that benefits the business and its purchasers.

Therefore, some of the organization’s products are, as follow:

• Lyrica – remedy for epilepsy, neuralgia, neuropathy, and fibromyalgia
• Prevnar – vaccine to prevent pneumococcal infection
• Celebrex – remedy for arthritis and joint ache
• Lipitor – reduces LDL cholesterol levels
• Enbrel – treatment for rheumatoid arthritis and spondylitis
• Viagra – remedy for erectile disorder

Moving on, Pfizer has many other merchandises that perform profitably, specifically merchandise that initially hasn’t any direct competition within the market. The enterprise blessings from patented pills to dominate target marketplace segments. However, as the pharmaceutical enterprise is dynamic, the business enterprise experiences modifications in its enterprise competencies.

Moreover, The market situation for the drug is anticipated to exchange as greater corporations are likely to supply drugs with the identical active element, competing based totally on charge. In addition, the Singapore corporation’s non-stop R&D funding leads to continual change in its product blend and corresponding shifts in its market role.

Pfizer Inc. manufactures many pinnacle-selling products in the Signaporean marketplace. The company’s organizational length and huge market percentage aid a similar commercial enterprise boom. However, the firm ought to use its strengths alongside proactive steps to triumph over marketplace dangers and industry risks. Pfizer wishes to expand abilities that guard its business against such dangers. Techniques to build competitive blessings are wished, thinking about the negative outcomes of adjustments within the marketplace.

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Markets

Pfizer’s commercial enterprise length is observable via some of the overall performance signs. the full income of the company reached $49.6 billion in 2014 and $52.5 billion in 2017. Those records suggest that the business is developing, no matter the challenges inside the enterprise. Also, for a long time, Pfizer’s performance remains stable.

Furthermore, The main stocks are in diverse marketplace segments. Pfizer’s market shares are excessive as compared to the ones of its competitors. The business enterprise stays one of the world’s leading pharmaceutical firms. 

Strengths

The main business strength of Pfizer Inc. is its popular brand image. This organization is globally revolutionary in the pharmaceutical industry. In addition, the corporation’s huge organizational size is a strength that results in skills that smaller organizations do not have.

Moreover, This organizational size enables economies of scale and studies and improvement skills. The business enterprise is likewise sturdy because of the uniqueness of many of its merchandise, which have patent safety. Furthermore, Pfizer acquired Wyeth in 2009. The acquisition made the agency an even extra effective player within the international pharmaceutical industry.

Risks

The risks in Pfizer’s business consist of the approaching expiration of the patents of lots of its specific products. In addition, These expirations may want to make the enterprise weaker due to the fact competition ought to then produce copies of such merchandise.

Moreover, different dangers in Pfizer’s commercial enterprise include multiple lawsuits concerning patents and other aspects of the enterprise. Those lawsuits may want to lead to financial losses. Furthermore, counterfeiting in a few areas could lessen Pfizer’s revenues and tarnish its emblem picture.

Pfizer business strategy 2020

Pfizer, Inc., a research-based healthcare company, is focused on the pharmaceutical business and consumer health care. The company had more than 201 billion USD in revenues and more than 5 million employees globally in 2016.

The chairman and CEO of Pfizer’s parent company said on CNBC’s “Mad Money” that the new 2020 strategy will include six aspirations: focus, diversity, and inclusion at work; new innovation models; scaling commercialization efforts; launching breakthrough affordable medicines for patients around the world; building strong partnerships with intent to monetize selected opportunities for greater returns to shareholders and lastly combining our current portfolio investments into pipeline co-development alliances that allow us to unlock value for all stakeholders while maintaining appropriate financial discipline.

Pfizer will concentrate on: investing in research and development of innovative treatments and pharmaceuticals; developing competitively differentiated products and providing them at a fair price; expanding international access to our products while responsibly managing pricing stability; gaining market share by growing sales volume profitably through investments in marketing, salesforce productivity initiatives and distribution efficiency programs.

Pfizer strategic objectives 2021

Pfizer’s strategy enters 2021 pursuing the next new therapeutic breakthroughs. What that means for patients is that they can anticipate more new therapies, introduced with valuable capabilities like smarter dosing restraints and digital medicine, emerging on the horizon of hope to combat some of their toughest diseases.

Pfizer has named five strategic objectives to help them enter 2021 fully positioned for success in an uncertain world filled with greater challenges than ever before. The first goal is to responsibly develop better treatments for disease by relentlessly pursuing game-changing innovations. The second goal brings strategic focus on improving patient lives by making breakthrough therapy discoveries accessible worldwide. The third goal intends to leverage skills learned in developing innovative medicines into investing more resources into our pipeline of late-stage assets already approved.

Conclusion:

The number of people with mental illness is increasing every day. Pfizer, a global pharmaceutical company focused on finding treatments for these conditions, has an imperative to find new ways to address the needs of patients and caregivers alike.  If you have any doubts regarding this topic you may take help from our experts.

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