annual review2008.pdf

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1、DOINgTHINgSDIffERENTlyaNNualREVIEw2008WEAREBECOMINGTHEPFIZERWEAREMEANTTOBE—ONETHATCANOFFERHEALTHYSOLUTIONSATEVERYSTAGEOFLIFEInPfizer’songoingtransformation,wearechallengingtheconventionalthinkingthatsaysacompanycan’tbelargeandglobal,aswellasfocusedand

2、entrepreneurial.We’remakingfastprogressinreshapinghowwework,whatweofferandhowwecansucceedintheseuncertaintimes.100proGramSinphaSeithrouGhreGiStration$5.3BillioninSaleSfrommeDicineSlauncheDSince2005pfizeranDwYethaGreetoJointoGetherwww.pfizer.com/annual

3、1CHAIRMAN’SREPORTTOSHAREHOLdERStoourowners:Pfizercontinueditstransformationin2008and,earlyin2009,announcedamajormovetoacceleratethatprocess—anagreementtoacquireWyeth,America’sfifth-largestpharmaceuticalcompany.Thecombinedorganizationwillbetheworld’spr

4、emierbiopharmaceuticalcompany:diverse,flexible,aleaderinnearlyalldimensionsofhumanandanimalmedicinesandvaccines,andwellpositionedinbothdevelopedandemergingmarkets.JeffKinDlerCHAIRMANOFTHEBOARdANdCHIEFExECUTIVEOFFICER2www.pfizer.com/annualPreparingPfiz

5、ertotakethistransformationalstepbeganwithabsolutelycommittedtostreamliningourbusinessfurtherandoureffortslatein2006andin2007toreducethenumberofcreatingacoststructurethatgivesusthemostflexibilityduringlayersinthecompany,streamlinedecision-makingandexpa

6、ndtheseuncertaintimes.ourdiscoveryefforts.Ourtransformationcontinuedin2008achievinGouraDJuSteDDiluteDearninGSperShare(2)tarGetwithanewstrategicframeworkcalled“OurPathForward”—Wewereatthehighendofour2008guidancerange,deliveringandlaterthatyearwiththere

7、organizationofthecompanyinto$2.42inadjusteddilutedearningspershare(2),animprovementsmaller,moreagilebusinessunits.Everystepoftheway,Pfizerof11percentover2007.colleagueshaveworkedtoincreasetheabilityofthecompanytodealwithaveryfast-changingbusinessenvir

8、onment.We’veimprovinGr&DproDuctivitYWeareontracktoachievethetitledthisreport“DoingThingsDifferently”becausethat’sR&DobjectiveswesharedwithyouinMarch2008.Theseare:exactlytheapproachwe’retaking—challengingthestatusquo•15to20PhaseIIIstartsin2008–