Pfizer 2014 Annual Report Download - page 16

PFIZER ANNUAL REVIEW 2014 www.pzer.com/annual 16
ANNUAL REVIEW 2014
When it comes to our reputation, we saw a positive increase in our reputation
in 2014 among policy leaders and healthcare opinion leaders as measured by a
reputation index comparing us to 12 industry peers. Our “Get Old” platform,
promoting discussions on healthy aging, has driven a 52% increase in the
perception that Pzer is “trustworthy.” In addition, our “Get Healthy Stay Healthy”
initiative, which includes outreach by Pzer’s Chief Medical Ofcer, is bearing results.
Some 88% of those exposed to this outreach emerged with a positive impression
of Pzer.
The benets of the innovative medicines and therapies coming from our research
labs make their way to patients through Pzer Global Supply’s industry-leading global
manufacturing and distribution operations. For example, less than two hours after the
FDA approval of the breast cancer therapy Ibrance, the rst shipment of the drug
was made. For the launch of Nexium 24HR, the over-the-counter formulation of
the well-known heartburn medicine, Pzer Global Supply delivered 14 million
bottles to more than 20,000 U.S. retail outlets, precisely timed to a consumer
advertising campaign.
A culture of compliance and integrity is foundational to being able to earn society’s
trust. During 2014, Pzer successfully concluded its compliance obligations under
both a Corporate Integrity Agreement and a Deferred Prosecution Agreement
with the U.S. federal government.
As we emerge from these agreements, Pzer’s culture and commitment to
compliance in everything we do and everywhere we operate has never been
stronger, and their conclusion does not change the way we operate. Operating with
integrity is what our many stakeholders — including the patients we serve and their
families — expect and depend on. Our robust compliance program will continue
to evolve as we anticipate and mitigate potential challenges that may arise in our
ever-changing operating environment, but our core commitment to compliance and
integrity will remain our priority.
Embedding a Sustainable Ownership Culture
We are succeeding in building a new corporate culture at Pzer, one focused on
a sense that everyone at Pzer owns our challenges and our opportunities. Our
employee surveys, administered worldwide, indicate that our colleagues have a
growth mindset, increasingly feel that their opinions and ideas are being heard and
acted on, and feel welcome to challenge prevailing opinions and assumptions.
As part of our efforts to drive a high-performance culture, in 2014 we made the
bold decision to stop assigning a year-end rating to colleagues when assessing
their performance. The yearly rating system had become demotivating for most
colleagues, and managers felt constrained in their ability to fairly capture the
contributions of their teams. Unconstrained by ratings, managers are now fully
accountable for managing their team’s performance through more-frequent feedback
throughout the year, which helps to reinforce a strong ownership mindset among our
managers and helps build greater transparency and trust with all colleagues.
In 2014, we launched a new program called “Dare to Try”, designed to encourage
colleague innovation at the grassroots level and provide promising ideas with a rapid
way to develop new ideas through experimentation. Since its launch, more than 250
colleague-generated proposals have been approved and funded, usually within a
month after their initial proposal. Some noteworthy “Dare to Try” ideas that colleagues
brought forth in 2014 include a partnership with Walgreens to improve the access
to and convenience of clinical trials for patients by running trials in unconventional
CEO LETTER
CEO Letter > Letter to Stakeholders