Pfizer at JP Morgan Healthcare Conference Notes

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Ian Read

We run Pfizer in business units

“I don’t think there is issue. We both – I mean, I acknowledge that Allergan is a smaller company in terms of its colleagues and that always helps to create a sense of purpose and focus, but Pfizer, we run Pfizer in business units. Each business unit has its own passion, its own focus. I think we are very entrepreneurial, we are very agile. We are very focused on creating shareholder value.”

Mikael Dolsten

Evolved into organization balancing internal and external innovation

“Pfizer come from a history of a strong internal R&D that has developed tremendous skills in how you design small molecules, large molecules and vaccines and as you know from our current pipeline, there is actually from recent launches over the last handful of years, a significant contribution from that organization. But, around 2010 or so, we started to evolve in creating an organization that would be equally key in to mix internal and external innovation. We built of centers that have huge innovation that was a new disruptive model to work with academia. We started to use seed capital to simulate start-up biotech that had unique ideas and as you know in our pipeline, there is a mix of molecules that we have partnered that others own like Eliquis, from BMS.”