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Pest Analysis On Pfizer Incorporated : Pfizer Incorporated (NYSE: PFE) is a pharmaceutical company, ranking number one in sales in the world. The company is based in New York City, with its research headquarters in Groton, Connecticut. It produces Lipitor (atorvastatin, used to lower blood cholesterol); the neuropathic pain/fibromyalgia drug Lyrica (pregabalin); the oral antifungal medication Diflucan (fluconazole), the antibiotic Zithromax (azithromycin), Viagra (sildenafil) for erectile dysfunction, and the anti-inflammatory Celebrex (celecoxib) (also known as Celebra in some countries outside the USA and Canada, mainly in South America). Its headquarters are in Midtown Manhattan, New York City.[3]
Pfizer's shares were made a component of the Dow Jones Industrial Average on April 8, 2004.[4]
Pfizer pleaded guilty in 2009 to the largest health care fraud in U.S. history and received the largest criminal penalty ever levied for illegal marketing of four of its drugs. Called a repeat offender, this was Pfizer's fourth such settlement with the U.S. Department of Justice in the previous ten years.[5][6] On January 26, 2009, Pfizer agreed to buy pharmaceutical giant Wyeth for US$68 billion, a deal financed with cash, shares and loans.[7] The deal was completed on October 15, 2009.[8]
PEST Analysis
The pharmaceutical industry must always be on the move, always on the edge and always first in creating innovations and products that help extend the life of mankind. The industry faces a need for accelerated investment, in order to deploy the new technologies, for pressing geo-political, economic, environmental and societal reasons.
Political. Observers will see a continuing progression in the ruinous steps which have forced the industry into a socio-politico-economic corner. Whether this is related to flat demand or to the industry’s creation of an ever-wider range of products that many buyers seem to care little about, there is a problem. The industry is likewise linked closely to the policies of governments, the earnings of banks. Little wonder then that so many emerging countries are keen to develop a sector that deals with the regulation of pharmaceutical products or that there is such a political pressure to protect it in the developed countries. The world’s pharmaceutical industry is currently dominated by little more than a handful of firms, each wielding colossal financial, emotional and political power. The industry’s approach to dealing with political institutions has not always been brilliant. It tends to be good on technical issues, although it has not always fully presented the longer-term options, in order to make the choices and their implications clear.
In the aspect of Pfizer Inc., it has dealt with political factors rather brilliantly. It continues to provide very satisfactory benefits and wages for its 115,000 employees. Pfizer continues to cater to the needs of their employees and their families. They provide benefits and fitting wages and overtime.
Also, Pfizer continues to recognize its responsibility to the government. As of 2004, Pfizer paid 2,665 (million) as tax.
Economic. . For much of the developed world, and increasingly for the developing world, the pharmaceutical industry is a pillar industry, a flag of economic progress. Without the existence of the pharmaceutical industry, it would be quite impossible to aid the existence of other sectors. One must remember that the aspect covered by the pharmaceutical industry is something not to be toyed with. It includes the wellbeing of all, thus, no other sector would continue to exist if this sector is annihilated from the whole of the economic world. The pharmaceutical industry has been a core industry, a unique economic phenomenon, which has dominated not only the twentieth century, but also the centuries even before modern civilization began. However, the industry now suffers from a series of structural schisms and has become riddled with contradictions and economic discontinuities. For the capital markets and the finance sector, it has lost a lot of its significance, as a result of ever declining profits and stagnant sales. The proliferation of products means that it has become hopelessly wasteful of economic resources. While all these and more sound like a very gloomy assessment of such a vast economic phenomenon, the industry is not in the end despondent. A different future is possible for the industry, a highly desirable one.
As for Pfizer Inc., Its investment in different countries can trigger different outcomes for it. The economy usually depends on stability of the economy itself and currency stability. But if the country chosen by Pfizer to host its production has minimal salary demanding workforce, it would be a great choice.
Social. The world’s pharmaceutical industry affects the society as a whole. It employs millions of people directly, tens of millions indirectly. Its products have transformed society, bringing undreamed-of levels of healing and continuous renewal of wellbeing, changing the ways people live and work. The social value of the elevated sense of health and cure that this industry brings involves the value of the people being able to live a healthier lifestyle and that those on the brink of illnesses or even death can be nursed back to health, among many others. For most of its existence the pharmaceutical industry has been a model of social discipline and control and it is not just that the pharmaceutical sector offers a ‘pillar’ of something else. There are, on the other hand, particular social issues to address in many developing countries, often those that are the result of an undertone of religious faith. The pharmaceutical has the role to play in helping develop the impairment of such countries and it can be achieved at an acceptable social cost of the country is prepared to learn the necessary lessons from those who have traveled this route before it, and to make the necessary investments.
In the context of Pfizer, the world is in continuous need of quality medicines and healthcare products. Though the world contains varied audiences, it is impossible that none would like to live longer or healthier. No matter what concept or religion they believe, a community in need will always seek out the help of medicine.
Technological. The pharmaceutical industry works on a scale so awesome and has an influence so vast that it is often difficult to see. The level and diversity of technologies that it must deploy are increasing, which imposes both new investment burdens and new uncertainties and risks. Roughly a million new products are created around the world each week – they are easily the most complex products of their kind to be mass-produced in such volumes. The industry uses manufacturing technology that is the cutting edge of science. But still, the potential for developing coordination skills, intellectual capabilities and emotional sensitivities through electronic technologies remain far from fully exploited. There are numerous additional near-term technological opportunities to adapt the automobile to changing energy availability. The possibilities suggest that pharmaceutical industry is unexpectedly robust and provides a powerful defence against energy starvation even if the real price of energy climbs steadily during the next couple of decades.
Pfizer is always on the edge; always on the verge of creating new products with the intent to help the debilitating sickness that mankind succumbs to everyday. Due to the advent of new technology, it will be easier to create quality products which would aid the continuous search for immunity to diseases, even immortality. The aid of technology has brought new hope to people around the world who are down with sickness and disease.
Pfizer's shares were made a component of the Dow Jones Industrial Average on April 8, 2004.[4]
Pfizer pleaded guilty in 2009 to the largest health care fraud in U.S. history and received the largest criminal penalty ever levied for illegal marketing of four of its drugs. Called a repeat offender, this was Pfizer's fourth such settlement with the U.S. Department of Justice in the previous ten years.[5][6] On January 26, 2009, Pfizer agreed to buy pharmaceutical giant Wyeth for US$68 billion, a deal financed with cash, shares and loans.[7] The deal was completed on October 15, 2009.[8]
PEST Analysis
The pharmaceutical industry must always be on the move, always on the edge and always first in creating innovations and products that help extend the life of mankind. The industry faces a need for accelerated investment, in order to deploy the new technologies, for pressing geo-political, economic, environmental and societal reasons.
Political. Observers will see a continuing progression in the ruinous steps which have forced the industry into a socio-politico-economic corner. Whether this is related to flat demand or to the industry’s creation of an ever-wider range of products that many buyers seem to care little about, there is a problem. The industry is likewise linked closely to the policies of governments, the earnings of banks. Little wonder then that so many emerging countries are keen to develop a sector that deals with the regulation of pharmaceutical products or that there is such a political pressure to protect it in the developed countries. The world’s pharmaceutical industry is currently dominated by little more than a handful of firms, each wielding colossal financial, emotional and political power. The industry’s approach to dealing with political institutions has not always been brilliant. It tends to be good on technical issues, although it has not always fully presented the longer-term options, in order to make the choices and their implications clear.
In the aspect of Pfizer Inc., it has dealt with political factors rather brilliantly. It continues to provide very satisfactory benefits and wages for its 115,000 employees. Pfizer continues to cater to the needs of their employees and their families. They provide benefits and fitting wages and overtime.
Also, Pfizer continues to recognize its responsibility to the government. As of 2004, Pfizer paid 2,665 (million) as tax.
Economic. . For much of the developed world, and increasingly for the developing world, the pharmaceutical industry is a pillar industry, a flag of economic progress. Without the existence of the pharmaceutical industry, it would be quite impossible to aid the existence of other sectors. One must remember that the aspect covered by the pharmaceutical industry is something not to be toyed with. It includes the wellbeing of all, thus, no other sector would continue to exist if this sector is annihilated from the whole of the economic world. The pharmaceutical industry has been a core industry, a unique economic phenomenon, which has dominated not only the twentieth century, but also the centuries even before modern civilization began. However, the industry now suffers from a series of structural schisms and has become riddled with contradictions and economic discontinuities. For the capital markets and the finance sector, it has lost a lot of its significance, as a result of ever declining profits and stagnant sales. The proliferation of products means that it has become hopelessly wasteful of economic resources. While all these and more sound like a very gloomy assessment of such a vast economic phenomenon, the industry is not in the end despondent. A different future is possible for the industry, a highly desirable one.
As for Pfizer Inc., Its investment in different countries can trigger different outcomes for it. The economy usually depends on stability of the economy itself and currency stability. But if the country chosen by Pfizer to host its production has minimal salary demanding workforce, it would be a great choice.
Social. The world’s pharmaceutical industry affects the society as a whole. It employs millions of people directly, tens of millions indirectly. Its products have transformed society, bringing undreamed-of levels of healing and continuous renewal of wellbeing, changing the ways people live and work. The social value of the elevated sense of health and cure that this industry brings involves the value of the people being able to live a healthier lifestyle and that those on the brink of illnesses or even death can be nursed back to health, among many others. For most of its existence the pharmaceutical industry has been a model of social discipline and control and it is not just that the pharmaceutical sector offers a ‘pillar’ of something else. There are, on the other hand, particular social issues to address in many developing countries, often those that are the result of an undertone of religious faith. The pharmaceutical has the role to play in helping develop the impairment of such countries and it can be achieved at an acceptable social cost of the country is prepared to learn the necessary lessons from those who have traveled this route before it, and to make the necessary investments.
In the context of Pfizer, the world is in continuous need of quality medicines and healthcare products. Though the world contains varied audiences, it is impossible that none would like to live longer or healthier. No matter what concept or religion they believe, a community in need will always seek out the help of medicine.
Technological. The pharmaceutical industry works on a scale so awesome and has an influence so vast that it is often difficult to see. The level and diversity of technologies that it must deploy are increasing, which imposes both new investment burdens and new uncertainties and risks. Roughly a million new products are created around the world each week – they are easily the most complex products of their kind to be mass-produced in such volumes. The industry uses manufacturing technology that is the cutting edge of science. But still, the potential for developing coordination skills, intellectual capabilities and emotional sensitivities through electronic technologies remain far from fully exploited. There are numerous additional near-term technological opportunities to adapt the automobile to changing energy availability. The possibilities suggest that pharmaceutical industry is unexpectedly robust and provides a powerful defence against energy starvation even if the real price of energy climbs steadily during the next couple of decades.
Pfizer is always on the edge; always on the verge of creating new products with the intent to help the debilitating sickness that mankind succumbs to everyday. Due to the advent of new technology, it will be easier to create quality products which would aid the continuous search for immunity to diseases, even immortality. The aid of technology has brought new hope to people around the world who are down with sickness and disease.
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