New Drug Development Process at Pfizer - Research Paper Example

Summary

In the paper “New Drug Development Process at Pfizer” the author focuses on three steps namely drug discovery, full development, and clinical trials. The discovery of drug initiates with the proper and thorough understanding of diseases which proceeds with mass testing…

Download full paper File format: .doc, available for editing

GRAB THE BEST PAPER92.7% of users find it useful

Read Text Preview

Subject: Business
Type: Research Paper
Level: Masters
Pages: 1 (250 words)
Downloads: 3

Extract of sample "New Drug Development Process at Pfizer"

New Drug Development Process at PfizerPfizer is renowned worldwide for its research and development innovation. The new drug development process at Pfizer comprises of three steps namely drug discovery, full development and clinical trials (Pfizer 2009). The discovery of drug initiates with the proper and thorough understanding of diseases which proceeds with mass testing and studied for identification of any side effects. In the third stage, it is tested on humans only after getting assured that it will be safe for humans and the clinical trial involves use of properly planned data design, approval from Ethics and regulatory committees and proper signs of marketable position of developed drug.

In the entire process, collaborations across various departments; cross functional teams and latest technical and scientific skills are required to turn discoveries into marketable drugs.Sales and marketing at PfizerPfizer is dedicated to ethical sales and marketing practices because of its corporate social responsibility towards people. As such, it provides training to its sales force on knowledge regarding diseases, products and related ethical issues. It strives to comply with the rules of pharmaceutical industry in terms of sales figures, advertising, communication true facts and getting its sales force equipped on latest research reports and competitor arrivals.

It also tries to establish and sustain long term relationships with healthcare professionals across the globe on the dimensions of transparency, primacy and responsibility (Pfizer 2009). This interaction provides them with valuable information and data which helps them in their research and development process. Regarding promotion, it provides ‘starters’ to professionals for their feedback and resorts to ‘direct to consumer’ advertising whereby it educates public about usage, safety, effects and other details of its product portfolio.

ReferencesPfizer. (2009). Sales and marketing. Retrieved 21 February, 2011 from http://www.pfizer.com/files/corporate_citizenship/cr_report/sales_marketing.pdfPfizer. (2009). Drug Development. Retrieved 21 February, 2011 from http://www.pfizerindia.com/eNewsWebsite/drug_develope.aspx

CHECK THESE SAMPLES OF New Drug Development Process at Pfizer

Bowman's Strategy Clock and Other Business Strategies

The industry ensures value for pharmaceutical products through conducting pharmaco-economic evaluations meant to show the efficacy and effectiveness of a new drug.... Some of the challenges in the global pharmaceutical industry that the managers are facing include increased globalization, increase in competition, lack of new products despite the improved research and quick development of generic markets among others.... The application of Bowman's strategy clock in the establishment of competitive advantage among the global pharmaceutical companies will result in value improvement and product promotion with minimal reliance on drug pricing....

8 Pages (2000 words) Assignment

Business Models, Narrative and Numbers About a Pharmaceutical Company

Business Model Analysis of pfizer 4 3.... Current Business Model Analysis of pfizer 5 3.... pfizer Financials 7 3.... Introduction This study has been undertaken with the motive of examining the current business model of pfizer and the cause and effect of its evolution from the traditional business model which it followed.... While studying the business model, prominent issues like intellectual property right disputes and financial data of pfizer would also be taken into account so that every dimension of the business model can be presented....

10 Pages (2500 words) Essay

The Effects of Drugs on Mood

pfizer, the makers of Celebrex, which is a rival of Vioxx, have not yet pulled the popular painkiller off the market, although Celebrex also increases cardiovascular diseases.... Celebrex, approved by the Food and Drug Administration in 1998 for arthritis pain, has been prescribed to 27 million Americans and is the world's most widely prescribed arthritis drug ("pfizer cites", 2005).... pfizer's Viagra (Sildenafil citrate), which is a selective inhibitor of cGMP-specific phosphodiesterase type 5 (PDE5), is a popular erectile dysfunction prescription medication and has various side effects like heart attack, blood clots, irregular heart rhythm, stroke, chest pain, blood pressure changes, and sudden death....

2 Pages (500 words) Essay

Pfizer Is a Global Pharmaceutical Giant

The industry is characterized by innovations, patent expiries and relaxations, rapid expansions and stringent regulatory environment that have resulted in a handful of players… The present case on Pfizer- a global pharmaceutical giant, is an attempt to analyze the turbulences that had led the senior management and the policy makers at pfizer to rethink their marketing strategies and the business model.... The case commences with the market segmentation practices and its role in guiding the sales force efforts at pfizer....

4 Pages (1000 words) Essay

Pharmaceutical Companies Listed in London Stock Exchange

2011) (Johnson & Johnson, 2011) (Merck, 2011) (pfizer, 2011) (SFC-ACS, 2010) (Shire, 2011) (Ventura, 2011) ABSTRACT: This report encompasses a comprehensive yet meticulous account… f the financial positions of the top pharmaceutical companies listed in London Stock Exchange as well as NYSE, with laser-focused emphasis upon the performances of GlaxoSmithKline (LSE) and pfizer (NYSE).... 7) GlaxoSmithKline (hereafter referred to as GSK) and pfizer have been close competitors for a long time, although their major focus in terms of type of drug differs substantially, these two companies still compete for top spot within many drug categories....

17 Pages (4250 words) Essay

Pfizer - Development of a Well Sustained Patient Improvement Apparatus

With the introduction of this building the company has become one of the first drug development companies to invest more than $4 billion and aims and continuing to increase its investments to develop better products (Pfizer.... During the period of 1999 pfizer has introduced its new discovery of a research centre which is named as the Discovery Technology Centre and this institution is located in the region of Cambridge, Massachusetts (pfizer....

4 Pages (1000 words) Essay

Pfizer's Unsuccessful Takeover of AstraZeneca

Like pfizer, this company also have significant experience in acquisition and mergers as it has acquired and collaborated with a number of companies in recent years.... The case in this paper focuses on the failed merger between pfizer and AstraZeneca which took place in May, 2014.... It was gathered from the Guardian (2014a) that the chairman of pfizer initially approached chairman of AstraZeneca regarding merger in November 2013 while the detailed discussion took place in January, 2014....

12 Pages (3000 words) Case Study

The Role of IT in Generating Competitive Advantage - Pfizer

The paper "The Role of IT in Generating Competitive Advantage - pfizer" states that pfizer is a pharmaceutical company that manufactures and sells drugs to consumers.... This paper will look at how pfizer pharmaceutical company located in New York and spread across the globe is using IT to have a competitive edge over other pharmaceutical companies.... wo cousins, Charles pfizer and Charles Erhart incorporated pfizer pharmaceutical in Brooklyn New York in 1849....

8 Pages (2000 words) Case Study