Pfizer ‘makes real changes’ to business

Pfizer has reviewed its strategies with the goal of accelerating and refocusing its product pipeline while also benefiting from new global growth opportunities.

The company has outlined a number of plans for growth, including the generation of revenue opportunities from established products, increased focus on improvement and innovation, increased growth in emerging markets and investments in complementary businesses.

Pfizer reports that it intends on expanding its phase III development pipeline to cover 24 to 28 programmes by the end of 2009.

The firm also announced that its expects to submit 15-20 pharmaceutical products to the relevant regulatory bodies between 2010 and 2012.

Jeff Kindler, chairman and chief executive officer of the company, said: “We have made real changes in how we operate our business – in our structure, culture and leadership – so that we have a much stronger foundation in place for pursuing the many opportunities before us.”

He added that the company will take advantage of growth opportunities covering different geographies, therapeutic areas and product pipelines.

Last week, Pfizer announced the appointment of William Ringo as senior vice-president of strategy and business development with responsibility for guiding the company’s overall strategic planning.