Pfizer, Inc. · NYSE:PFE
Pfizer — Investor Day (January 2007)
26 slides from Pfizer's investor day presentation, Jan 22, 2007
Slide 1: Analyst Meeting: Pfizer Global Research and Development
ANALYST MEETING Pfizer Global Research and Development John LaMattina President, PGRD
Slide 2: Stepping Up the Pace of Change
ANALYST MEETING 2007 Stepping Up the Pace of Change R&D is in transition Progress has been made over the past few years Significantly greater changes are being announced today Specific changes in: – Where we work – How we work – What is expected of us Implementation of proposed intentions ex
Slide 3: Meeting Our Commitments
ANALYST MEETING 2007 Meeting Our Commitments Triple Phase 3 to projected 15 programs in 2009 Four new products a year from internal development starting in 2011 Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in certain countries
Slide 4: Why do we need to do this?
ANALYST MEETING 2007 Why do we need to do this? 4 Valid as of January 22, 2007.
Slide 5: 2003 R&D Footprint
ANALYST MEETING 2007 2003 R&D Footprint 2003: 10 countries, 25 sites, 20 million square feet Sweden H. Wycombe Fresnes Holland Sheridan P. Amboise Skokie Ann Arbor Sandwich Freiburg Tokyo Kalamazoo Cambridge SUGEN PHA Japan St. Louis Milan Groton Nagoya La Jolla Spain New London Singapore New York N
Slide 6: 2003 Discovery Groups
ANALYST MEETING 2007 2003 Discovery Groups Cardiovascular/Athero Technology Platforms Allergy/Respiratory Metabolic Disease GI/Liver Disease Ophthalmology Antibacterials Sexual Health Inflammation Osteo/Frailty Dermatology Immunology Antivirals Oncology Diabetes Urology Obesity Pain CNS Ann Arbor Ca
Slide 7: Principles of PGRD Transformation
ANALYST MEETING 2007 Principles of PGRD Transformation Create smaller, more agile research units Drive the growth of our bigger pipeline with no increase in our budget Generate more products from a smaller, more productive organization Implementation of proposed intentions expressed in this do
Slide 8: Step 1: Reduce the Footprint of R&D
ANALYST MEETING 2007 Step 1: Reduce the Footprint of R&D 8 Valid as of January 22, 2007.
Slide 9: Intended PGRD Site Closures
ANALYST MEETING 2007 Intended PGRD Site Closures Ann Arbor Kalamazoo Esperion Nagoya (proposed) Amboise (proposed) Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in certain countries 9 Valid as of January 22, 2007.
Slide 10: A Much Simpler Proposed Global Organization
ANALYST MEETING 2007 A Much Simpler Proposed Global Organization Fewer countries, sites and square feet Sandwich Rinat Cambridge Tokyo St. Louis Shanghai Groton La Jolla New London Mumbai Implementation of proposed intentions expressed in this document may be subject to works councils and consultati
Slide 11: Step 2: Focus Therapeutic Areas at Single Sites
ANALYST MEETING 2007 Step 2: Focus Therapeutic Areas at Single Sites 11 Valid as of January 22, 2007.
Slide 12: Simplified Research Therapeutic Area Organization
ANALYST MEETING 2007 Simplified Research Therapeutic Area Organization Groton Sandwich Antibacterials Allergy & Respiratory Cardiovascular/ Antivirals Metabolic Genitourinary/Sexual Health Neurosciences Pain La Jolla St. Louis Oncology Inflammation Ophthalmology Biotherapeutics* *Also done at Rinat
Slide 13: Advantages of Single Site Research Therapeutic Areas
ANALYST MEETING 2007 Advantages of Single Site Research Therapeutic Areas More robust interactions with key opinion leaders, commercial colleagues, and third-party partners Clearer focus Better utilization of space Simplified decision making Less travel and fewer meetings Implementation of
Slide 14: Best of Both Worlds
ANALYST MEETING 2007 “Best of Both Worlds” Small-company structure and mindset with… World-class technology World-class platforms World-class capabilities in early development Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in
Slide 15: Discovery Therapeutic Area Exits
ANALYST MEETING 2007 Discovery Therapeutic Area Exits Exit two Discovery Therapeutic Areas – Gastroenterology – Dermatology Will continue developing compounds already in the pipeline Will work with Business Development to source compounds from the outside Implementation of proposed intentions
Slide 16: Step 3: Reorganize Development
ANALYST MEETING 2007 Step 3: Reorganize Development 16 Valid as of January 22, 2007.
Slide 17: Reorganize Development
ANALYST MEETING 2007 Reorganize Development Bring greater R&D and Commercial focus on delivering a valuable pipeline Strengthen our Therapeutic Area-based organization – Three cluster leaders – Seamless alignment with Commercial – Empowered to move resources rapidly to deliver most value from po
Slide 18: Takeaways
ANALYST MEETING 2007 Takeaways Greatly simplified structure with smaller, more agile research units Less “bricks and mortar” Reduce R&D spend on support staff and facilities costs by over 20% Implementation of proposed intentions expressed in this document may be subject to works councils and
Slide 19: Investment Priorities
ANALYST MEETING 2007 Investment Priorities Fund the growing late-stage pipeline Increase resources dedicated to biotherapeutics Further leverage third-party collaborations Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in cert
Slide 20: Fund the Growing Late-Stage Pipeline
ANALYST MEETING 2007 Fund the Growing Late-Stage Pipeline E Deve arly lopm Mi en t Deved-stage lopm 116 en t Ad Devevanced 51 lopm ent 15 In Re gistr ation 78 2 Jan. 2009 25 Projections 9 184 NME Projects 6 Jan. 2003 118 NME Projects Implementation of proposed intentions expressed in this document m
Slide 21: Phase 3 Growth By 2009
ANALYST MEETING 2007 Phase 3 Growth By 2009 2006 2009 2011 2009 (Projected) Four new products a year from internal 15 programs development January 2006 5 programs Implementation of proposed intentions expressed in this document may be subject to works councils and consultation in certain countries 2
Slide 22: Key Elements for Research Investment
ANALYST MEETING 2007 Key Elements for Research Investment Biotherapeutics – Increase to 20% of our internal portfolio, leading to one product launch per year within 10 years – Strengthen antibody platform and build vaccine business Enhanced capability to identify the right targets and pathways –
Slide 23: Intensified Focus on Biotherapeutics and Vaccines
ANALYST MEETING 2007 Intensified Focus on Biotherapeutics and Vaccines Biotherapeutics – Monoclonal antibodies have a proven favorable survival profile – Opens up new target space and opportunity for innovation across multiple Therapeutic Areas – Therapeutics with exquisite target selectivity – En
Slide 24: Deep Knowledge of Targets and Pathways
ANALYST MEETING 2007 Deep Knowledge of Targets and Pathways Explosion of unprecedented targets and pathways Will invest internally in new disciplines – Computational biology – Systems biology – Translational pharmacology – Investigational toxicology Leverage third-party collaborations – Scripp
Slide 25: Look for the Best Science Outside our Walls
ANALYST MEETING 2007 Look for the Best Science Outside our Walls Pfizer External Research Network – The California Incubator – To gain rapid, broader access to science underlying disease and to enabling technologies Foundation for National Institutes of Health – GAIN (Genetic Association Informa
Slide 26: Summary: R&D Priorities
ANALYST MEETING 2007 Summary: R&D Priorities 1. Reduce the R&D footprint almost in half since 2003 2. Simplify research therapeutic area organization for better focus and accountability 3. Shift funds from “bricks and mortar” to our pipeline, biotherapeutics, and other growth opportunities 4. Reorga