Pfizer management has pulled a rabbit out of a hat.
I am so impressed with this organization.
One would imagine that with a number of their major products losing their patent protection, mandatory substitution threatening to affect prescriptions levels significantly, that the Pfizer management team would be huddling in the corner chasing small deals here and there that give the appearance of doing something yet really accomplishing very little.
In the just the last few weeks and the last year or so, Pfizer management has announced several “deals” which will have a profound impact on the future business scope and financial success.
The business development team there should be congratulated and senior management should be congratulated on having such an imaginative, creative, game changing team – building the future for the company.
Let’s quickly review the deals they have concluded:
1. Acquire the assets of Wyeth Co. which added a whole new vaccine business to the overall product mix.
2. On Oct 6, 2010 they announced the acquisition of FoldRx, a private biopharmaceutical development company, perhaps the goal being access to their stable of NCE’s?
3. On Oct 12, 2010 they announced the acquisition of King Pharmaceuticals, which recently acquired Alpharma, who developed the product Embeda™(unique product for pain management), speculated to be the prime target for this acquisition activity.
4. On Oct. 18, 2010 they announced a global commercialization agreement giving Pfizer access to products manufactured by Biocon, an India based manufacturer of biological products, generic formulations (as much as can be) perhaps best described as bio-similars. Think of all the insulin which could be supplied in the United States and Canada with the mandatory substitution rules that could be in place, just to name one class of drugs?
5. On Oct 20, 2010 Pfizer announces the acquisition of 40% of Teuto (with rights to acquire the balance starting in 2015), a very large generic drug manufacturer and marketer located in Brazil. Currently, Pfizer has a small generic business in operation in North America currently. Imagine the impact Teuto can have on this business around the world?
I am very impressed. I am sure that these deals took considerable time and effort to bring to conclusion but the real point of this article is that they did it. They are making things happen within their organization.
You are wondering why I said I am jealous? Just that I would have liked to have been on the team that pulled this off. To be able to think through such a large scale and strategic plan takes imagination, creativity, a big wallet and a senior management team that has confidence in its people and the imagination and understanding to see where the company needs to be to guarantee its future.
I’d love to be part of a team like this.
Tags: Biocon, Biological drugs, business development, Drugs, FoldRx, King Pharmaceuticals, Pfizer, Teuto
