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review2007.pdf

review2007.pdf

上传者: 氵冘石开 2012-06-15 评分 0 0 0 0 0 0 暂无简介 简介 举报

简介:本文档为《review2007pdf》,可适用于战略管理领域,主题内容包含EastndStreetNewYork,NYwwwpfizercomOurPathForwardProgressPromise“Whenmyfibr符等。

EastndStreetNewYork,NYwwwpfizercomOurPathForwardProgressPromise“Whenmyfibromyalgiasymptomswereattheirworst,evenatouchwasexcruciatingLyricahelpsrelievemypainsoIcanlivemylifeagain”CarolynBishopwithherdaughter,AubreySanAntonio,TexasAnnualReviewpfcovpfcov::PM::PM“Lyricarepresentswhat’sgreataboutPfizercollaborativeteamwork,cuttingedgescience,thewillingnesstoinvestandtakestrategicrisksandprovidesgenuinevalueforpatientsandpayers”LloydEKnappExecutiveDirector,PfizerGlobalResearchDevelopment,LyricaDevelopmentTeamLeaderLyricaCorporateandShareholderInformationStockListingsOurCommonStockislistedontheNewYorkStockExchangeItisalsolistedontheLondon,EuronextandSwissstockexchanges,andtradedonvariousUnitedStatesregionalstockexchangesStockTransferAgentandRegistrarComputershareTrustCompany,NARoyallStreetCanton,MATelephone:PFEOutsidetheUS,CanadaandPuertoRico:Internet:wwwcomputersharecomShareholderServicesandProgramsPleasecontactourStockTransferAgentandRegistrarwithinquiriesconcerningshareholderaccountsofrecordandstocktransfermatters,andalsoforinformationonthefollowingservicesandprograms:•ShareholderInvestmentProgram–directpurchaseofPfizerstock–dividendreinvestment–automaticmonthlyinvestments•Bookentryshareownership•DirectdepositofdividendsForwardLookingInformationPleaserefertotheCompany’sFormKforadescriptionofthesubstantialrisksanduncertaintiesrelatedtotheforwardlookingstatementsincludedinthisAnnualReviewFormKandCEOCFOCertificationsUponwrittenrequest,wewillprovidewithoutchargeacopyofourFormKforthefiscalyearendedDecember,Requestsshouldbedirectedto:SecretaryPfizerIncEastndStreetNewYork,NYOurFormKisalsoavailableonourWebsiteatwwwpfizercomThemostrecentcertificationsbyourChiefExecutiveOfficerandChiefFinancialOfficerpursuanttoSectionoftheSarbanesOxleyActofarefiledasexhibitstoourFormKWehavealsofiledwiththeNewYorkStockExchangethemostrecentAnnualCEOCertificationasrequiredbySectionA(a)oftheNewYorkStockExchangeListedCompanyManualAnnualMeetingofShareholdersTheAnnualMeetingwillbeheldonThursday,April,,at:amCentralDaylightTimeat:ThePeabodyMemphisHotelUnionAvenueMemphis,TennesseeInformationaboutthemeetingiscontainedinourNoticeofAnnualMeetingofShareholdersandProxyStatementCorporateResponsibilityReportThisreportprovidesdetailedinformationabouthowPfizerconductsbusinessresponsiblyandengageswithstakeholderstoadvancegoodhealthandexpandasustainablebusinessThisreportisavailableonlineatwwwpfizercomcrreportPoliticalActionCommittee(PAC)ToreviewourmostrecentPACandcorporatepoliticalcontributionsreport,goonlineatwwwpfizercompacEnvironment,Health,andSafety(EHS)Pfizeriscommittedtoprotectingtheenvironment,healthandsafetyofourcolleaguesandthecommunitieswhereweoperatearoundtheworldOurglobalEHSinitiatives,programsandperformancemaybefoundonlineatwwwpfizercomehsandinourCorporateResponsibilityReportatwwwpfizercomcrreportHelplinesPatients,customersandhealthcareprofessionalswhohavequestionsaboutanyofourproductsshouldcallPfizerHelpfulAnswersTMpatientassistanceprogramshelpmillionsofAmericanswithoutprescriptioncoveragegetPfizermedicinesforfreeoratasavingsToaccessPfizerHelpfulAnswersvisit:wwwpfizerhelpfulanswerscom,orcallSendUsYourFeedbackWevalueyourviewsonthisAnnualReviewDidithelpyoutobetterunderstandPfizerWastheinformationpresentedinareaderfriendlymannerPleasesendyourcommentstoannualreportpfizercomYoucanfindmoreinformationabouttheCompanyonlineatwwwpfizercomCertnoSWCOCLyricasaleswere$billionin,uppercentoverThisPfizerdevelopedmedicineiswidelyapprovedasatreatmentfordiabeticperipheralneuropathy,postherpeticneuralgia,andasanadjunctivetherapyforepilepsyInJune,LyricaalsobecamethefirsttreatmentapprovedintheUSforfibromyalgia,acomplexandoftendebilitatingdiseasecharacterizedbychronicwidespreadpain,poorsleep,andexcessivefatigueFibromyalgiaaffectstwotofivepercentoftheUSpopulation,mostlywomeninearlytomiddleadulthood,accordingtotheAmericanCollegeofRheumatologyLyricabuildsonthreedecadesofscientificresearchintohowpainsignalsaretransmittedandamplifiedinthebodyBecauseitpassesthroughthebodywithoutbeingmetabolized,LyricaiswelltoleratedbymostpatientsandcanbeusedincombinationwithmanyothertherapiesForitsroleinmeetingahugeunmetmedicalneed,LyricawasnamedasoneofTIMEMagazine’s“TopMedicalBreakthroughsfor”TIMEsaid,“Instudies,Lyricanotonlysoothedthepainoffibromyalgia,butalsosignificantlyimprovedpatients’qualityoflife”NineoutoffibromyalgiapatientssufferwithseverefatigueorasleepdisorderPfizer’scommitmenttoconductbusinessinasustainablewayincludesadoptinggreenpracticeswithrespecttothisreportThisAnnualReviewisprintedonpapermadefromwellmanagedforestsandothercontrolledsourcescontainingpercentpostconsumerfibercontent,andismadefreeofelementalchlorineThepaperisindependentlycertifiedbySmartWood,aprogramoftheRainforestAlliance,totheForestStewardshipCouncil(FSC)standardsOurprinter,SandyAlexander,Inc,anISO:CertifiedprinterwithForestStewardshipCouncil(FSC)ChainofCustodycertification,printedthisreportwiththeuseofrenewablewindpowerresultinginnearlyzerovolatileorganiccompound(VOC)emissionsThissaved,poundsofcarbondioxideemissionsThisamountofwindgeneratedelectricityisequivalentto,milesnotdriveninanautomobileoracresoftreesbeingplantedPfizerAllrightsreservedAlltrademarksappearinginthisAnnualReviewareownedbyorlicensedtoPfizerIncoritsaffiliatesTheAnnualReviewiswrittenandproducedbyPfizerWorldwideCommunicationsDesign:IdeasOnPurpose,NewYorkPrincipalPhotography:NeilSelkirkPrinting:SandyAlexanderIncpfcovpfcov::PM::PMAPivotalYearIn,PfizermadesubstantialprogressinpositioningthecompanytodeliverstrongshareholderreturnsthroughrevenueandincomegrowthinthenextdecadeTherearenoquickfixesforacompanyoursize,butourprogressinbuildingafoundationforsolid,sustainablegrowthisrealSoisourpromiseasacontinuedleaderinmeetingoneoftheworld’smostbasicneeds:betterhealthcareformorepeopleAGUIDETOTHEANNUALREVIEWAboutPfizerChairman’sReporttoShareholdersFinancialHighlightsExecutiveLeadershipTeamKeyPharmaceuticalMedicinesAnimalHealthOurPathForwardRefocusingandOptimizingOurPatentProtectedPortfolio–TheUrgencyofPfizerScience–PfizerRDPipeline–ExpandingtheScience–Partnerships,Alliances,AcquisitionsFindingNewOpportunitiesforEstablishedProductsGrowinginEmergingMarketsInvestinginComplementaryBusinessesBuildingaCultureofInnovationandContinuousImprovementInformationforInvestorsBoardofDirectorsCorporateandShareholderInformationAnnualMeetingofShareholderspfpf::PM::PMProgressIn,wedidwhatwesaidwewoulddoExecutedagainstabroadplantopositionPfizertodeliverlongtermvalueDeliveredsolidoperatingperformance,despitelosingUSmarketexclusivityforNorvascinandZoloftinAdvancedimportantprogramsintoPhaseIII,whichareaimedatcancer,fibromyalgia,anxietyandinfectionsCompletedorannouncedbusinessdevelopmentagreementsinstrategicgrowthareasCreatedsmaller,morefocusedbusinessesReducedouremployeeforcebymorethan,peopleRepurchased$billionofPfizercommonstockImprovedourrelationshipswithkeytradeandmanagedcarecustomerspfpf::PM::PMPromiseAnagewaveissweepingtheworldTheglobalpharmaceuticalbusinessisgrowingThereisacompellingcaseforgreaterinvestmentinprevention,wellnessandearlytreatmentBiotherapeuticsholdtremendouspromiseOurpipelineofpromisingcompoundscontinuestoexpandWehavealargeportfolioofestablishedproductsWearewellpositionedinbothdevelopedanddevelopingnationsWehavefinancialstrengthandasophisticatedglobalinfrastructureEmergingmarketsbeckonThetrendsinhealthcareareinourfavorpfpf::PM::PMPlanThepathforwardisclearOURSTRATEGIES:RefocusandoptimizeourpatentprotectedportfolioFindnewopportunitiesforestablishedproductsGrowinemergingmarketsInvestincomplementarybusinessesInstillacultureofinnovationandcontinuousimprovementContinuetomeetourcommitmentstoeveryonewithastakeinoursuccesspfpf::PM::PMPfizerhadasolidyearin,asmeasuredbyrevenues,adjustedincome()andadjusteddilutedearningspershare()Ourrevenuesinwerecomparableto,andinlinewithourforecastsKeepingrevenuessteadyinmeantthatweovercamea$billionrevenuedeficitduetotheendofexclusiveUSmarketingrightsfortwoofourtopsellingmedicines,ZoloftinandNorvascinOurrevenuesbenefitedfromfavorableforeignexchangeratesandfromthestrongperformanceofmanynewandinlinemedicinesOuradjustedincome()andadjusteddilutedearningspershare()werebothhigherWefulfilledacommitmentwemadeinearlytoimprovetotalshareholderreturnbyrepurchasing$billioninPfizercommonstock,andbysubstantiallyincreasingourdividendmarkstheststraightyearofincreaseddividendpaymentstoourownersWeachievedallthisinthemidstofurgentactiontomakefundamentalchangesinourcompany,andinaverydifficultoperatingenvironmentfortheresearchbasedpharmaceuticalindustryMovingWithaSenseofUrgencyWhenIbecameCEOinmid,Isaidthatweneededtotakedecisive,quickactiontotransformPfizerMakingallthechangesweneedtomakewilltakeinvestmentanddeterminedactionoverseveralyears,butinwemadereal,substantialprogressMuchofourworkcenteredonrebuildingthefoundationforourbusinessandsettingtheframeworkforbetterlongtermperformanceThisrequiredpainfuldecisionsOneofthemwastoloweracostbasethatwasoutofsyncwithourneartermrevenueexpectationsIn,ourheadcountdecreasedbymorethan,Wecutlayersofmanagement,andexitedoperationsinsixmanufacturingsitesandtwomajorRDlocationsWeareontracktomeetacommitmentmadeearlyintoachieve,in,anabsolutereductioninouradjustedtotalcosts()ofatleast$billionto$billion,whencomparedwithandatforeignexchangeratesInanotherdifficultdecisiontakenin,afterassessingthelongtermprospectsfortheworld’sfirstinhalableinsulin,Exubera,wedecidedtoexittheproductWedideverythingwecouldtomakeExubera’sbreakthroughscienceandmanufacturingacommercialsuccess,butanewwaytodeliverinsulinwasnotacceptedbypatients,physiciansorpayersAstoughasthisdecisionwastomake,itwasconsistentwithourpledgetodeployourowners’capitalonlywhereitwillproduceanappropriatereturnInexitingthisproduct,Pfizertookapretaxchargeof$billioninUnleashingtheEntrepreneurialSpiritIn,wealsometourcommitmenttocreatesmaller,moreentrepreneurialbusinessgroupswithinourcompanyIfirmlybelievethatPfizercangaincompetitiveadvantagebycombiningthespiritofasmallcompanywiththeglobalreachandresourcesthatweuniquelypossessinourindustryIn,wereorganizedoperationsinourlargestmarkettheUSintofoursmaller,muchmorefocusedbusinesses,eachdevotedtoadistinctgroupoftherapiesLeaderscannowdeploytheirresourcesasChairman’sReporttoShareholdersOurPathForwardToOurOwners:Pfizer’sperformanceincanbesummarizedintwosentencesWemadeandmetchallengingcommitmentsWemadesignificantprogressinbuildingthesolidfoundationforasuccessfulfutureAsaresult,Pfizerisclosertomeetingourtopcommitmenttoyou:tochangethewayswedobusinessandpositionPfizertodeliverstrongtotalshareholderreturnthroughgrowthinrevenueandincomeJeffKindlerChairmanoftheBoardandChiefExecutiveOfficerpfpf::PM::PMFinancialHighlightsThreeYearSummary(a)AcquisitionrelatedinprocessresearchanddevelopmentchargesprimarilyrelatedtoouracquisitionsofBioRexisPharmaceuticalCorpandEmbrex,IncinPowderMedLtdandRinatNeuroscienceCorpinandVicuronPharmaceuticals,IncandIdunPharmaceuticals,Incin(b)RestructuringchargesandacquisitionrelatedcostsincluderestructuringchargesrelatedtoourcostreductioninitiativesandintegrationcostsandrestructuringchargesrelatedtoouracquisitionofPharmaciaCorporationonApril,(c)OurshorttermborrowingsareratedPbyMoody’sInvestorsService(Moody’s)andAbyStandardPoor’s(SP)OurlongtermdebtisratedAabyMoody’sandAAAbySPMoody’sandSParemajorcorporatedebtratingorganizationsDetailedinformationonourfinancialandoperationalperformancecanbefoundintheFinancialReportAsofandfortheyearendedDecember,Change(millions,exceptpercommonsharedata)Revenues$,$,$,ResearchDevelopmentexpenses$,$,$,Acquisitionrelatedinprocessresearchanddevelopmentcharges(a)$$$,()()Restructuringchargesandacquisitionrelatedcosts(b)$,$,$,()Incomefromcontinuingoperationsbeforeprovisionfortaxesonincome,minorityinterestsandcumulativeeffectofachangeinaccountingprinciples$,$,$,()Netincome$,$,$,()Dilutedearningspercommonshare$$$()Weightedaverageshares–diluted,,,()()Numberofcommonsharesoutstanding,,,()()Workingcapital$,$,$,()Goodwillotheridentifiableintangibleassets,net$,$,$,()()Totalassets$,$,$,()Totaldebt(c)$,$,$,()Totalshareholders’equity$,$,$,()Shareholders’equitypercommonshare$$$()Cashprovidedbycontinuingoperatingactivities$,$,$,()Property,plantandequipmentadditions$,$,$,()()Purchasesofcommonstock$,$,$,Cashdividendspaid$,$,$,pfpf::PM::PMthemarketdemandsandmovefasttocapitalizeonnewopportunities,aswasdemonstratedintherapidUSlaunchofLyrica’sfibromyalgiaindicationwhenitwasapprovedbytheFDAinmidWealsocreatedadedicatedUScustomersupportgrouptoworkmorecloselywithourvaluednationalcustomersToenhancecreativityandinnovationinallourbiomedicalresearch,werestructuredPfizerGlobalResearchDevelopment,puttingallthediscoveryscientistsinvolvedinaspecifictherapeuticcategoryunderoneroof,withoneleaderIn,wealsoformedtheBiotherapeuticsandBioinnovationCenter,todowhatventurecapitalistsdoallthetimefindnewideas,fundthem,andhelpthemflourishascommercialsuccessesSinceourlastAnnualReview,wecompletedmajorbusinessdevelopmenttransactions,alongwithhundredsofsmalleralliances,allaimedatsuperchargingourpharmaceuticalandbiopharmaceuticalpipelineWealsotookafreshlookatourglobalproductportfolio,whichincludeshundredsofproductsthatarenolongerexclusivetoPfizerbuthavethemarketinganddistributionstrengthofourcompanybehindthemAnewlyformedgroup,calledEstablishedProducts,willdriveourgrowthinthisfastmovingmarketsegmentGrowthinNewMedicinesPfizer’srevenuesarelargelypropelledbyagroupofpatentprotected,highvaluemedicinesTheseincludeLipitor,theworld’sbestsellingmedicine,whosesalesremainedrelativelysteadyindespiteferociousbrandedandunbrandedcompetitionThreeofourrecentlyintroducedmedicinesLyricaforpainandepilepsy,Chantixforsmokingcessation,andSutentforcertaintypesofcancersareperformingverywellLyricarevenuesforwereuppercentover,andLyricabecamethefirstmedicineeverapprovedbytheFDAforthehardtotreat,painfulsyndromeknownasfibromyalgiaRevenuesforSutentanimportantoncologybreakthroughandthefirstofaseriesofnewcancermedicinesweplantointroduceoverthenextdecadewereuppercentoverChantixgenerated$millioninitsfirstfullyearofavailabilitytopatientsGiventherapiduptakeofthisfirstnewprescriptionsmokingcessationmedicineinadecade,wehavebeenworkingverycloselywithregulatoryauthoritiestoensurethatdoctorsandtheirpatientsunderstandthebenefitsandrisksofthemedicinePfizerAnimalHealthhadaverystrongyearSalesrosepercentandthisgrouprecentlyintroducedsixnewmedicines,includingSlentrol,thefirstFDAapprovedtreatmentforobesityindogsAResilient,ProductiveWorkforcewasachallengingyearforallofPfizer’scolleagues,andtheirconcerninthefaceofurgentchangeisunderstandableWhatisinspiringistheircontinuedtopperformanceItraveledhundredsofthousandsofmileslastyeartovisitwithandlistentothousandsofPfizercolleagues,ingroupslargeandsmallAteveryturn,IheardstoriesoftheirperformancethatconfirmmyconfidenceinourfutureHerearesomeofthem:•In,westreamlinedoursalesforcewithnomeasurablelossofproductivityForexample,evenastheyexperiencedsignificantchanges,ourUSsal

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