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PFIZER ANNUAL REVIEW 2014 www.pzer.com/annual 17
ANNUAL REVIEW 2014
locations; a more agile manufacturing processes for Oral Solid Dosage medicines
by creating a “containerized POD” that can be shipped to a location and assembled
in the eld, allowing for localized and continuous manufacturing; and a new way
for our sales representatives to optimize physician communication by managing
and coordinating all channels, including representative-to-physician and
digital communications.
Our leaders are inspired by the passion and ingenuity displayed by Pzer colleagues
around the world, through “Dare to Try” and in their daily work. Over time, I see
our ownership culture as a distinguishing feature that will provide Pzer with a
sustainable competitive edge.
CONTINUING TO DELIVER ON COMMITMENTS
2014 was an important year in our journey of transforming Pzer. We enter 2015 well
positioned to continue our progress and deliver on our commitments to those who
invest in us and depend on us for their medicines and vaccines. We are concentrating
our efforts on seeking to protably grow our business and expanding our sources of
revenue, strengthening our core businesses, and bringing forth new therapies that
signicantly improve peoples’ lives. We will do this by listening to patients to better
understand their needs, and through Pzer’s employees, who are as determined as
they are diverse; as creative as they are hardworking; and as resilient as they are
committed to excellence.
Thanks for the condence you have in our ability to obtain our goal of making Pzer
the world’s leading biopharmaceutical company. We will continue to report on our
progress, and we welcome your thoughts and ideas as we move ahead.
IAN C. READ
CHAIRMAN AND CEO
CEO LETTER
CEO Letter > Letter to Stakeholders
* 2014 nancial guidance refers to guidance for Non-GAAP adjusted revenues, adjusted cost of sales as a percentage of adjusted revenues,
adjusted selling, informational and administrative expenses, adjusted R&D expenses, adjusted (income)/deductions, effective tax rate
on adjusted income and adjusted diluted earnings per share (EPS) and GAAP reported diluted EPS. See the Company’s 2014 Financial
Report for the denition of “Adjusted Income” and for reconciliations of 2014 “GAAP Reported to Non-GAAP Adjusted Income Information—
Certain Line Items.” “Non-GAAP adjusted revenues,” “Non-GAAP adjusted cost of sales,” “Non-GAAP adjusted selling, informational and
administrative expenses,” “Non-GAAP adjusted R&D expenses,” “Non-GAAP adjusted (income)/deductions” and “Non-GAAP adjusted
diluted EPS” are income-statement line items prepared on the same basis as, and are components of, the “Non-GAAP adjusted net income
attributable to Pzer Inc.” measure.