Pfizer, Inc. · NYSE:PFE
Pfizer — Investor Day (January 2007)
56 slides from Pfizer's investor day presentation, Jan 22, 2007
Slide 1: Analyst Meeting: Commercial Operations
ANALYST MEETING Commercial Operations Ian Read President Worldwide Pharmaceutical Operations
Slide 2: Our Growth Drivers in Brief
ANALYST MEETING 2007 Our Growth Drivers in Brief The Lipitor benefits: LDL lowering + CV outcomes + Safety Wealth of clinical data with new insights from payer databases More aggressive treatment guidelines working for us Flexible contracting Stabilized and focused on growth after strong 2
Slide 3: Our Growth Drivers in Brief
ANALYST MEETING 2007 Our Growth Drivers in Brief Turnaround is taking hold Strong uptick in last four months Effective consumer and physician awareness campaign Plans to further secure access An excellent medicine Pursuing significant follow-on indications – great potential Major reven
Slide 4: A Leaner, More Flexible, and Customer-Focused Organization
ANALYST MEETING 2007 A Leaner, More Flexible, and Customer-Focused Organization Field force and other cost initiatives Moving to smaller, more agile units New approaches to commercializing medicines Therapeutic area focus Much more focus on the customer and creating meaningful value for th
Slide 5: Solid 2006 Performance
ANALYST MEETING 2007 Solid 2006 Performance $45.1 Billion 2% Growth Key Key Product Product Performance Performance $12,886 M $2,039 M $1,156 M $758 M 6% 18% 297% 29% Growth Growth Growth Growth Launched Launched Four Four New New Products Products 2006 Revenues Implementation of proposed intentions
Slide 6: 2006 in Brief
ANALYST MEETING 2007 2006 in Brief Overall sales growth of 6%, despite entry of generic simvastatin and branded competition Market continued to grow strongly Intense focus on field force support, share of voice, and access Results: the rate of both new patient starts and switches stabilized
Slide 7: Lipitor New Patient Starts and Switch Trends Stabilized
ANALYST MEETING 2007 Lipitor New Patient Starts and Switch Trends Stabilized New New Patient Patient Starts Starts Percent Percent Switch Switch From From Lipitor Lipitor Jan 1st ACC/ Jan 1st ACC/ MMA, ESI ASTEROID Zocor LOE MMA, ESI ASTEROID Zocor LOE 40% 60% 35% 50% 30% Total Simva LIPITOR 40% 25%
Slide 8: 2007: Issues and Opportunities for Lipitor
ANALYST MEETING 2007 2007: Issues and Opportunities for Lipitor Multiple entries of generic simvastatin Continuing competition from branded agents Increased pressure on formularies Increased emphasis on treating to more aggressive cholesterol targets Expect continuing robust market growth
Slide 9: Action Plan for Lipitor
ANALYST MEETING 2007 Action Plan for Lipitor Potency – a unique and compelling package of benefits Growing real-world evidence from payer databases that talk to Lipitor’s value Increased emphasis on treating cholesterol to lower targets 70% Tier 2 access maintained for national contracts and
Slide 10: Lipitor - A New Definition Of Potency
ANALYST MEETING 2007 Lipitor - A New Definition Of Potency A Package of LDL + CV Outcomes + Safety LDL Outcomes Safety LDL/Outcomes/ Safety Up to 50% Proven to reduce Proven safety LDL-C stroke (48%), profile across the reduction with MI (45%), and dose range starting doses revascularization (
Slide 11: Real-World Data Should Make a Difference with Payers
ANALYST MEETING 2007 Real-World Data Should Make a Difference with Payers 30% 30% Significantly Significantly Lower Lower Risk Risk Of Of CV CV 1.00 Events Events With With Atorvastatin Atorvastatin vs vs Other Other Statins Statins Proportion of Patients without CV Events Adjusted Adjusted for for
Slide 12: Summary for Lipitor
ANALYST MEETING 2007 Summary for Lipitor Strong, unique product attributes Aggressive cholesterol treatment guidelines driving favorable market dynamics Plan for modest growth, subject to risks and uncertainties Comprehensive competitive plans on all fronts – selling, data, access Implementa
Slide 13: Celebrex 2006
ANALYST MEETING 2007 2006 A great year 18% growth, $2 billion in sales Stabilized prescriptions Now, let’s continue to grow Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in certain countries 13 Valid as of January 22, 2007.
Slide 14: 2007: Issues and Opportunities for Celebrex
ANALYST MEETING 2007 2007: Issues and Opportunities for Celebrex Overall consumer safety perceptions post-Vioxx Specific misperceptions vis-à-vis OTCs, alternative NSAIDS Some consumers believe Celebrex has been withdrawn But opportunity exists to address these issues and enhance physician-p
Slide 15: Vioxx Withdrawal Changed Consumers Perceptions
ANALYST MEETING 2007 Vioxx Withdrawal Changed Consumers Perceptions % % Consumers Consumers Agreeing Agreeing Product Product Safe Safe for for People People with with Heart Heart Conditions Conditions 42% 43% 25% 24% 22% 21% 16% 17% 16% 11% Rx Rx Celebrex Ibuprofen Advil Aleve Tylenol Celebrex Ibup
Slide 16: Action Plan for Celebrex
ANALYST MEETING 2007 Action Plan for Celebrex Take cardiovascular safety head-on Address concerns and free up more time with physician on benefits Build understanding of key facts with consumers Reinforce field force efforts Implementation of proposed intentions expressed in this document ma
Slide 17: Celebrex is Taking a Non-traditional Road
ANALYST MEETING 2007 Celebrex is Taking a Non-traditional Road … Addressing CV Safety First Early Early Results: Results: ““CV CV First” First” Message Message Delivers Delivers Share Share Increase Increase 12% 11.1% Monthly NRx Share 10% 10.5% 8% Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- N
Slide 18: CV Safety First for Celebrex
ANALYST MEETING 2007 “CV Safety First” for Celebrex … Reinforcing Field Force Efforts Physicians Physicians Patients Patients Pfizer medical personnel deployed Developed breakthrough locally to discuss this issue with communication for consumers that helps put the risk in context medical profess
Slide 19: Lyrica 2006
ANALYST MEETING 2007 2006 Extraordinary launch Benefiting more than four million patients U.S. leader in diabetic peripheral neuropathy/ postherpetic neuralgia (DPN/PHN) $1.1 billion in revenues Patients showing strong preference Implementation of proposed intentions expressed in this docu
Slide 20: 2007: Issues and Opportunities for Lyrica
ANALYST MEETING 2007 2007: Issues and Opportunities for Lyrica Must continue to grow market and gain DPN/PHN share Must support physician in diagnosis and patients in describing symptoms Fibromyalgia – exciting potential new indication Implementation of proposed intentions expressed in this do
Slide 21: Prescribing Behavior Is Fueling Lyrica's Growth
ANALYST MEETING 2007 Prescribing Behavior Is Fueling Lyrica’s Growth More physicians report using Lyrica first-line for DPN/PHN than any other therapy (30%) 73% of general practitioners are extremely satisfied with Lyrica vs. less than half (43%) for gabapentin 78% of physicians expect to incr
Slide 22: Action to Encourage Proper Diagnosis
ANALYST MEETING 2007 Action to Encourage Proper Diagnosis Physicians Physicians Patients Patients Six-question patient-completed screening tool Validated via two-phase, multi-center study including Helping Helping patients patients understand understand and and >800 patients express express THEI
Slide 23: Fibromyalgia – An Exciting Potential New Indication for Lyrica
ANALYST MEETING 2007 Fibromyalgia – An Exciting Potential New Indication for Lyrica Submitted sNDA and optimistic for second half 2007 launch Often misdiagnosed Committed to providing new tools for physicians Support evidence-based treatment guidelines Raise awareness and empower patients
Slide 24: Geodon 2006
ANALYST MEETING 2007 2006 U.S. sales over $600 million 31% growth Atypical anti-psychotic market is changing Fastest-growing agent in U.S. market over past six months Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in certain
Slide 25: Geodon - Know the Facts
ANALYST MEETING 2007 Geodon - “Know the Facts” Favorable metabolic profile confirmed by the CATIE* study has driven improved product perceptions and prescription growth Key focus on further enhancing and improving patient treatment – Metabolic awareness campaign: Know the Facts – Screening initi
Slide 26: 2006: A Turnaround Story
ANALYST MEETING 2007 2006: A Turnaround Story Tremendous growth Performance significantly accelerating over last four months Through November 2006 TRx’s are up 39% and NRxs are up 41% Targeted consumer campaign Re-energized field force with more focused, consistent messaging that has gotte
Slide 27: 2007 Action Plan for Caduet
ANALYST MEETING 2007 2007 Action Plan for Caduet Increased emphasis on expansion of highly successful consumer strategy Strengthened message that focuses on clear patient targets supported by outstanding compliance data Increased emphasis on formulary access Implementation of proposed intentio
Slide 28: Sutent 2006
ANALYST MEETING 2007 2006 An excellent medicine, exceeding expectations Lead product from cohort of new oncology medicines 15,000 patients have benefited Pursuing significant follow-on indications with great potential Implementation of proposed intentions expressed in this document may be su
Slide 29: Sutent Doubles Progression-Free Survival Over Standard of Care
ANALYST MEETING 2007 Sutent Doubles Progression-Free Survival Over Standard of Care Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in certain countries 29 Valid as of January 22, 2007.
Slide 30: Sutent Phase Results in GIST Reported in the Lancet
ANALYST MEETING 2007 Sutent Phase 3 Results in GIST Reported in the Lancet 100 SUTENT (n = 207) 90 median 27.3 weeks DSMB un-blinded Time-to-tumor-progression 80 Placebo (n = 105) median 6.4 weeks trial early due to 70 clear emerging probability (%) HR = 0.33 60 benefit 95% CI [0.23-0.47] 50 P <0.
Slide 31: Sutent: Outlook for 2007 and Beyond
ANALYST MEETING 2007 Sutent: Outlook for 2007 and Beyond Launch in 20 additional countries Refractory Breast Cancer* Broaden usage in RCC via Baseline Scan first-line indication Explore new combinations and sequences Continue to study Sutent in new Cycle Two Scan indications for large tumor
Slide 32: Exubera 2006
ANALYST MEETING 2007 2006 Breakthrough delivery system Manufacturing issues/ensuring supply Phased approach Educating specialists Focus on ensuring complete understanding of new inhaler technology Implementation of proposed intentions expressed in this document may be subject to works coun
Slide 33: Value Proposition of Exubera Can Break the Destructive Cycle
ANALYST MEETING 2007 Value Proposition of Exubera Can Break the Destructive Cycle Diet and Treatments Treatments’’ Maximum Maximum Efficacy Efficacy Exercise Byetta/ 8.2 1 Oral Example: Metformin SUs TZDs Januvia Exubera y 9% Agents e HbA1c a 2 Oral r Agents s -0.8% 3 Oral -0.9% Agents ADA -1.4% Ins
Slide 34: 2007: Issues and Opportunities for Exubera
ANALYST MEETING 2007 2007: Issues and Opportunities for Exubera Expanded rollout underway Focus on fundamental market drivers Intensified support Innovative treatment for global epidemic growing at alarming rate Implementation of proposed intentions expressed in this document may be subject
Slide 35: Action Plan for Exubera
ANALYST MEETING 2007 Action Plan for Exubera Focus field force and consumer efforts on why it’s critical to “break the cycle” Work with diabetes educators to provide practical guidance Roll-out to both primary care physicians and specialists Leverage patient satisfaction data Initiate DTC
Slide 36: Chantix 2006
ANALYST MEETING 2007 2006 Early success: physicians reporting higher percent of patients able to quit Market growth Growing understanding of smoking as chronic relapsing condition Implementation of proposed intentions expressed in this document may be subject to works councils and consultation
Slide 37: 2007: Issues and Opportunities for Chantix
ANALYST MEETING 2007 2007: Issues and Opportunities for Chantix Market largely “cold turkey” Smokers want a “magic pill” and have unrealistic expectations Can lead to quick uptake – and then failure Must build patient and physician understanding of smoking Medical and behavioral support
Slide 38: Launch Strategies for Chantix to Address Key Issues
ANALYST MEETING 2007 Launch Strategies for Chantix to Address Key Issues Build a medically supported quit market over time Price Chantix for cash market Drive benefits coverage Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in
Slide 39: Get Quit – Chantix's Behavior Modification Program
ANALYST MEETING 2007 Get Quit – Chantix’s Behavior Modification Program Enrollment Cards Personalized Website Developed by leading smoking-cessation experts Personalized support to meet the physical, psychological and social challenges of quitting Interactive Workbooks – Addresses critical behav
Slide 40: Early Success with Chantix
ANALYST MEETING 2007 Early Success with Chantix Physicians report a higher percent of patients able to quit with Chantix compared to Zyban and NRT Significant increase in physicians and consumers who see smoking as a chronic relapsing condition Physicians demonstrating understanding that relap
Slide 41: 2007: New Product Launches
ANALYST MEETING 2007 2007: New Product Launches Maraviroc Maraviroc Dalbavancin Dalbavancin Fesoterodine Fesoterodine First CCR5 Once-weekly dosing Promising results in antagonist for HIV Complicated skin treating overactive infections caused by bladder Support of Tropism Assay Gram-positi
Slide 42: A Common Thread
ANALYST MEETING 2007 A Common Thread Listening and talking differently to address the need Customer care support system; Patient Ambassador Program “Get Quit”, helping people with the ‘how’ to quit Enabling better diagnosis that leads to appropriate treatment Maraviroc Providing the diagno
Slide 43: Capitalizing on Opportunities
ANALYST MEETING 2007 Capitalizing on Opportunities Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in certain countries 43 Valid as of January 22, 2007.
Slide 44: The Commercial Organization Will Be…
ANALYST MEETING 2007 The Commercial Organization Will Be… Closer Closer to to the the customer customer Accountable Accountable Agile Agile Effective Effective Innovative Innovative Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in
Slide 45: A Leaner, More Flexible, and Customer-Focused Organization
ANALYST MEETING 2007 A Leaner, More Flexible, and Customer-Focused Organization 1 Structure 2 Cost Base 3 Customers Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in certain countries 45 Valid as of January 22, 2007.
Slide 46: The New U.S. Organization: Five Separate, Accountable Performance Units
ANALYST MEETING 2007 The New U.S. Organization: Five Separate, Accountable Performance Units CV/ Urology/ Customer Metabolic Respiratory CNS/Pain Specialty Support Marketing Marketing Marketing Marketing Marketing Medical Medical Medical Medical Medical Sales Sales Sales Sales Sales Operations Suppo
Slide 47: Europe Is Already Reorganizing
ANALYST MEETING 2007 Europe Is Already Reorganizing Transforming Transforming Our Our Organization Organization to to Achieve Achieve Excellence Excellence and and Leadership Leadership in in Both Both Brand Brand and and Customer Customer Management Management Tomorrow, Country organizations focu
Slide 48: The Commercial Organization
ANALYST MEETING 2007 The Commercial Organization Customer and Brand Global Product Development U.S. Europe Global CV and Metabolic Commercial Development U.S. Japan/Asia Urology/Respiratory Commercial CV R&D U.S. Canada/ CNS/Pain Latin America/ Africa, Middle East U.S. Commercial CNS R&D Specialty U
Slide 49: Therapeutic Area (TA) Model
ANALYST MEETING 2007 Therapeutic Area (TA) Model Developing Developing medicines medicines that that meet meet medical medical need need and and that… that… Patients will take Physicians will prescribe Customers will pay for Add the most value for Pfizer Product Market Development TA Develop
Slide 50: A Leaner, More Flexible, and Customer-Focused Organization
ANALYST MEETING 2007 A Leaner, More Flexible, and Customer-Focused Organization 1 Structure 2 Cost Base 3 Customers Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in certain countries 50 Valid as of January 22, 2007.
Slide 51: Highlights of Cost Restructuring
ANALYST MEETING 2007 Highlights of Cost Restructuring Reduced Reduced Cost Cost Base Base More More Streamlined Streamlined Field force reductions Increasing overall span of – 20% U.S. control from 6.7 to 7.5 – Proposed 22% Europe Eliminating layers from 12 layers to 9 layers Proposed non-fi
Slide 52: Ensuring Success of the U.S. Field Force Transformation
ANALYST MEETING 2007 Ensuring Success of the U.S. Field Force Transformation Right-sized field force Minimized disruption of rep/physician relationships Implemented swiftly to limit disruption Ensured competitive share of voice Aggressive incentive program Implementation of proposed intent
Slide 53: A Leaner, More Flexible, and Customer-Focused Organization
ANALYST MEETING 2007 A Leaner, More Flexible, and Customer-Focused Organization 1 Structure 2 Cost Base 3 Customers Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in certain countries 53 Valid as of January 22, 2007.
Slide 54: Piloting New Selling Models
ANALYST MEETING 2007 Piloting New Selling Models Today… ““Transactional” Today… Transactional” Tomorrow …”Relational” Tomorrow…”Relational” Insights Insights from from the the Pilot Pilot Models Models Customers Customers Representatives Representatives Business Business Improved access to Incre
Slide 55: Customers: Engage Differently, Create Meaningful Value
ANALYST MEETING 2007 Customers: Engage Differently, Create Meaningful Value Consumers Policymakers Pharmacists Scientists Physicians Regulators Patient Groups Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in certain countries 55 Va
Slide 56: In Summary, Commercial Operations Has:
ANALYST MEETING 2007 In Summary, Commercial Operations Has: The right priorities Strong strategies to maximize revenues of our medicines Intense focus on the customer and creating meaningful value for them Determined organization that takes pride in its performance Implementation of proposed