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About Pfizer

History

Pfizer Limited, a prominent player in the pharmaceutical industry, specialises in the production, marketing, trading, and export of a wide range of medical products. The company's journey in India began on November 21, 1950, under the name Dumex Limited. Its first manufacturing site in Darukhanna, Mumbai, produced essential drugs like Protinex and Isonex, an anti-TB medication. Later, this facility also manufactured Becosules and Corex. In 1960, a significant expansion occurred with the establishment of a large, modern plant in Thane, near Mumbai, which included manufacturing, quality control, and product research facilities. This plant has been recognised with several national safety awards. In 1965, Pfizer Limited entered into a licensing agreement with Pfizer Corporation, which included using Pfizer's technical know-how to manufacture a range of pharmaceutical, veterinary, and agricultural products. On July 16, 1966, the company was listed on the Bombay Stock Exchange. By March 4, 1977, the company had transitioned into a public limited company. The late 1980s saw the introduction of Piroxicam, a significant anti-arthritic drug, in India under the brand name Dolonex. The company's growth continued with the acquisition of SmithKline Beecham's animal healthcare operations in 1996 and substantial expansions in clinical research and data management activities in the late 1990s. The Informatics group, providing technical and application support, was set up in 1997. However, in 1999, the manufacturing plant at Ankleshwar was shut down. Pfizer Limited entered into a co-promotion agreement with Sanofi Synthelabo (India) Ltd for Daxid in 2004. 2005 was a notable year with the launch of several global brands, including Viagra, Caduet, and LYRICA. The company won the Pharma Excellence Awards 2006 for Exubera in the 'Innovative Products of the Year' category. In September 2009, the Board of Directors approved the amalgamation of Duchem Laboratories Ltd with Pfizer Ltd, effective December 1, 2008. In 2012, the company decided to sell its animal health division to a wholly-owned subsidiary for approximately ₹440 crore. On December 1, 2014, Pfizer Limited announced its merger with Wyeth Limited, placing it among India's top 10 pharmaceutical companies. Pfizer Ltd continued to adapt and evolve its product portfolio, including discontinuing the current formulation of Corex Cough Syrup in 2016 and introducing new products under the Corex brand. In 2017, the company entered into a Delegation of Authority with AstraZeneca Pharma India Limited, transitioning the marketing of Meronem Injection to Pfizer Limited. The acquisition of the Neksium brand from AstraZeneca AB Sweden for ₹75 crore in 2017 strengthened Pfizer Ltd's presence in the gastrointestinal therapeutic area. In 2019, Pfizer Inc. USA announced a review of its Global Consumer Healthcare business, leading to the creation of a joint venture with GlaxoSmithKline Plc. During COVID-19, Pfizer was dedicated to ensuring equitable and affordable global access to its COVID-19 vaccines, engaging in discussions with over 100 countries and organisations for vaccine supply since the inception of its development program. In 2021, Pfizer Ltd entered into a business transfer agreement with Mylan Pharmaceuticals Private Limited, transferring certain brands and related business assets to Mylan for ₹180.48 crore. Finally, in 2022-23, the company transferred its Thane Business Undertaking, including land and machinery, to Vidhi Research & Development LLP, marking another significant shift in its operational landscape.

Business Segments

Pfizer India operates under four main business segments, specialising in healthcare solutions across various therapeutic areas:

Vaccines: This segment focuses on preventing infectious diseases in individuals of all ages. Pfizer India offers a robust portfolio of vaccines, including Prevenar 13 for pneumococcal disease, Rotavac for rotavirus diarrhoea, and Menveo for meningitis. With increasing awareness of vaccination's importance, this segment plays a crucial role in public health.
Internal Medicine: This segment caters to treating and managing chronic and prevalent conditions. Pfizer India offers medicines for cardiovascular diseases, diabetes, respiratory disorders, central nervous system disorders, and pain management. Notable brands include Corex-DX for cough and cold, Dolonex for pain relief, and Becosules for vitamin B12 deficiency.
Inflammation and Immunology: This segment addresses conditions involving the immune system and inflammatory processes. Pfizer India provides advanced therapies for rheumatoid arthritis, psoriasis, psoriatic arthritis, and inflammatory bowel disease. Enbrel, a leading medication for these conditions, falls under this segment.
Oncology: This segment focuses on cancer treatment and care. Pfizer India offers innovative medicines for various types of cancer, including breast cancer, lung cancer, and leukaemia. Xeloda and Ibrance are examples of renowned cancer medications within this segment.

Subsidiaries of Pfizer Limited As of March 31, 2023, the company has no subsidiaries or associate companies.

Key Personnel

Pradip Shah, Chairman Mr. Pradip Shah is the Chairman and Independent Director of Pfizer India. He is also the Chairman of IndAsia Fund Advisors Pvt. Ltd. and holds an MBA from Harvard Business School. A top-ranked Chartered Accountant and Cost Accountant, he co-founded the Housing Development Finance Corporation (HDFC) in 1977 and served as the ex-Managing Director of CRISIL. His consultancy work includes contributions to USAID, the World Bank, and the Asian Development Bank.

Management Outlook

The growth of e-pharmacies, driven by initiatives like 'Arogya Setu', 'Digital India', and the National Digital Health Mission, along with rising internet use and digital payment systems, offers Pfizer significant opportunities to enhance its online presence and reach more customers.
The AB-PMJAY health insurance scheme offers Pfizer a growing market of insured patients. The scheme's digital initiatives, like electronic health cards and online health registries, align with Pfizer's innovation-driven approach, potentially leading to increased product demand.
The upcoming New Drugs, Medical Devices and Cosmetics Bill, 2022, represents a major overhaul in pharmaceutical regulations. Pfizer needs to align its operations with this new comprehensive legislation to ensure compliance and leverage any new opportunities it presents, especially in areas of clinical trials and online pharmacy operations.