Pfizer 2014 Annual Report Download - page 15

PFIZER ANNUAL REVIEW 2014 www.pzer.com/annual 15
ANNUAL REVIEW 2014
In 2014, the GEP business comprised more than half of Pzer’s revenue, accounted
for a large part of the company’s cash ow and operationally increased revenues in
the Emerging Markets by 6 percent year-over-year. Business development continued
to be an enabler of our strategy, and we further strengthened our GEP business
through the acquisition of InnoPharma, a privately held pharmaceutical development
company. This acquisition provides innovative growth opportunities for our sterile
injectables portfolio and increased the size of our sterile injectables business to
73 products.
To further support and grow this business, in 2015 we announced an agreement to
acquire Hospira, a leading provider of injectable drugs and infusion technologies and
a global leader in biosimilars. Hospira is an excellent strategic t and is expected to
accelerate the growth trajectory of the GEP business and to make us a top-tier player
in highly attractive and growing market segments. We expect the deal to close in the
second half of 2015.
We will continue to evaluate all potential deals against a set of strategic priorities
that include using our capital efciently in ways that create meaningful shareholder
value, that have the potential for near-term solid value creation, that strengthen our
individual businesses, and that enhance our leadership position in areas that are
most attractive to the core of our business.
EARNING GREATER RESPECT:
IMPROVING SOCIETY’S PERCEPTIONS OF PFIZER
In 2014, we saw measurable progress in our coordinated efforts to build trust
and gain greater respect from our major audiences, including healthcare
providers, regulators, policy leaders, payers and, rst and foremost, our patients
and their caregivers.
Central to earning trust is a commitment to corporate responsibility.
Through our corporate responsibility programs, we have touched the lives of
millions of people around the world. Of particular note, Pzer Rx Pathways — a U.S.
initiative that provides our medicines for free or at signicant savings to uninsured
and underinsured patients who qualify — provided assistance to more than 350,000
patients in 2014. We also continued our long-term alliance with the International
Trachoma Initiative, aimed at eliminating blinding trachoma, the world’s leading cause
of preventable blindness. Pzer provides the antibiotic Zithromax® for this alliance,
which is active in 28 nations in Asia and Africa.
In 2014, we launched an important initiative with several partners, including the
Bill & Melinda Gates Foundation and the Children’s Investment Fund Foundation, to
expand access to Pzer’s long-acting contraceptive, Sayana® Press, for women most
in need in 69 of the world’s poorest countries. This collaboration will help advance
progress and support global efforts to increase access to voluntary family planning
information, services and contraceptives by 2020.
Early in 2015, we announced new commitments aimed at giving people in the world’s
poorest nations greater access to our Prevenar 13 vaccine. This included a price
reduction and is being executed through Gavi, the Vaccine Alliance. We have now
committed for the next decade to provide more than 700 million doses of our
life-saving vaccine, as pneumococcal disease remains a leading cause of infant
mortality around the world.
CEO LETTER
CEO Letter > Letter to Stakeholders