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Problems At Pfizer


Problems At Pfizer


There are quite a few factors that are related to the success of Pfizer. First of all, the pain market is continuing to go through a period of sustained growth which is buoyed by a number of new product launches. This could be because of the fact that the pain market has increased by $17 billion in 2001 and is expected to grow to $25 billion by 2010. The growth has been led by their sales of COX-II inhibitors and opioids. Since the market is expected to grow, this will present opportunities in many different drug classes. Pfizer will continue to dominate the pain market over the forecasted period, as the introduction of their second-generation drugs will strengthen their already dominant position. Pfizer recognizes leadership as a core company value. In fact, Pfizer said a strong leadership platform, combined with the dedication and support of all its employees, were the key factors in determining the company’s strong placing in the rankings.



Despite the facts that there are many factors that created success to Pfizer, there are also some challenges along the road. In order to maintain their dominant market position Pfizer will have to seek out niche areas of the patient population. This will ensure that Pfizer will need to develop ever more sophisticated growth strategies that reach niche sectors of the patient population. Patent expirations and challenges also could affect sales starting next year. Pfizer's success in producing new drugs has been spotty, and prescription growth on some of its top-selling drugs is slowing at a time when competition is expected to increase.




Bibliography:
http://www.marketresearch.com/map/prod/828806.html
http://www.pfizer.ca/press%20release/december%2030%202002/default.asp?s=1
http://www.sltrib.com/2003/Apr/04152003/business/48000.asp

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