Growing in Latin America through Branded Generics Business ...
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0 Seeking Innovation. Creating Value. Collaborating Together. Medicon Valley Alliance Meeting 5 th May 2009 Business Development www.pfizer.com/partnering
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Seeking Innovation. Creating Value.
Collaborating Together.
Medicon Valley Alliance Meeting
5th May 2009
Business Development
www.pfizer.com/partnering
1
About PfizerBusiness Development
www.pfizer.com/partnering
2
Pfizer Inc Revenue in 2008: $48.3 billion; essentially flat year over year despite US LOE of Norvasc,
Zyrtec and Camptosar
R&D expenses: $7.5 billion
Animal Health Sales in 2008: $2.8 billion, 7% growth
We Are Truly a Global Company
* #1 in terms of sales
Source: IMS MAT 1Q08
#2 in Japan$3.6B
#1 in Australia$1.0B
#1 US$19.0 B
#4 Africa / Middle East$0.8B
#2 in Europe$13.6B
#1 in Latin America$1.9B
3
The Heart of Our Work….
TM
SPIRIVAMACUGEN
REBIF
ARICEPT
…Is Bringing Quality Medicines to Patients
4
Broad expertise across 10 therapeutic areas
11 products with sales over $1billion*
14 products ranked #1*
Among the largest, most admired Field Force globally
#1 in US 13 years in a row
100 million patients treated annually
Demonstrated expertise and commitment to working
collaboratively with our partners
*IMS Mat 2Q2008
Working Together for a Healthier World
5
Our Five Key Strategies
Refocus and optimize the patent protected portfolio
Find new opportunities for established products
Grow in emerging markets
Invest in complementary businesses
Instill a culture of innovation and continuous
improvement
Our Path Forward
Applying Innovative Science
6
Pfizer’s Patent Protected Portfolio
More than300
DiscoveryProjects
In Reg.2
Phase III25
Phase II33
Phase I40
Total
100
Accelerating Pipeline with sharpened focus on
key disease areas
Strong flow of medicines expected to progress from
Phase II to Phase III
12 Phase III starts from March 2008 to March 2009
Current Pipeline
For reference use only, not for external
distribution. Updated Apr 2009
7
Customer Focus:The New Business Unit Structure
Business Units
DevelopmentSales &
Marketing
Manufacturing
Medical
Research
Biotherapeutic and
Bioinnovation Center
Business Units and Leaders:
Primary Care Business Unit: Olivier Brandicourt
Specialty Care Business Unit: Paul Richardson
Oncology Business Unit: Garry Nicholson
Established Products Business Unit: David Simmons
Emerging Markets Business Unit: Jean-Michel Halfon
Animal Health Business Unit: Juan-Ramon Alaix
Business Development
8
Research Organization: Small, Nimble, Empowered
Our new Research organization, led by Rod MacKenzie, is now responsible for programs from idea to positive Proof of Concept. It is composed of smaller Research Units led by empowered and accountable Chief Scientific Officers (CSOs)
Research Units include:
CVMED Neuroscience Inflammation/Immunology Oncology Allergy & Respiratory Pain Antibacterials Vaccines Regenerative Medicines Indications Discovery Genitourinary Antivirals
Our Research & Development Organization is supported by Partner Lines including
Pharmaceutical Sciences Drug Safety Development Operations Regulatory Affairs and Quality Assurance
9
Strategy
Deliver a world class pipeline of high value biotherapeutics
Create and maintain an industry-leading competitive advantage
through technology innovation
Lower clinical attrition and decrease development time
Delivering a steady pipeline of biotherapeutics, based on key biologic modalities and novel, validated disease targets 1st Horizon: Monoclonal Antibodies (MAbs) 2nd Horizon: Peptides using alternative scaffold (CovX-bodies) 3rd Horizon: RNAi & Anti-sense 4th Horizon: Stem Cells
Pfizer Biotherapeutics and Bioinnovation Center: A Unique, Innovative Strategy to Establish Leadership in BioTx
Mission Propel Pfizer to the forefront of
bioinnovation and into the top-tier of biotherapeutics companies
10
Single share of voice driven approach to field force deployed
across Europe & US
Multiple field force deployment models, tailored to meet local market
conditions (Deployment differs in open vs. closed access)
Customer segmentation by brand Customer segmentation across Primary Care
National strategies and national planning that informed local
execution
Fully leveraged local market knowledge and true “bottom-up” planning
to inform strategies
Centralized marketing budget and review committee process Earmarked local marketing funds and review committee latitude
needed to pursue local promotional opportunities
Standard set of marketing offerings
for each brand
“Menu” of customer offerings for each brand, deployed in locally
appropriate configuration
From To
Centered on Micro-markets
Customer Centric Nimble
Adaptive
Adept at Finding Opportunities
Focused Innovative
Primary Care:Our New Structure Offers Strong Benefits
11
Specialty Care Business Unit: Deliver extraordinary value in the treatment of serious conditions
Products
Thelin™
Pharmacy
Academic
medical
centers Scientifically-oriented
specialists
Customers
Spirit of a start-up
Entrepreneurial
Customer-
focusedAgile
Innovative
CultureDeliver Extraordinary
Value• Maximize our current portfolio
through strong customer focus
• Successfully develop all
pipeline assets
• Build our portfolio by
becoming a partner of choice
12
Oncology Business Unit:Patent Protected Portfolio
Global Oncology Opportunity:
$81B by 2012 with 7% CAGR
Pfizer Oncology products $1.3B 1H2008
Pfizer Assets and Advantages:
Among top Oncology field forces
#1 in Oncology Account Management for customer
focus and innovative value added program *
PfizerOncology.com – 24/7 access to Pfizer
oncology resources for healthcare professionals
Pfizer Strategy:
Created Business Unit focused on Oncology led
by Garry Nicholson, General Manager Oncology
Pursue continuous cycle of new indications in
different tumor types
Accelerate clinical trial enrollment & execution
Supplement with business development
Leverage biotech assets
* Towers Perrin
Largest Oncology Pipeline with 22 compounds in development
Four Research PlatformsFour Research PlatformsFour Research PlatformsFour Research Platforms
IMMUNO-THERAPYIMMUNO-THERAPY
Reawakens immune system
Reawakens immune system
ANTI-ANGIOGENESIS
ANTI-ANGIOGENESIS
Blocks growth of tumor blood
vessels
Blocks growth of tumor blood
vessels
CYTOTOXIC/POTENTIATORS
CYTOTOXIC/POTENTIATORS
Exploit defects in repair and cycle cells
Exploit defects in repair and cycle cells
SIGNAL TRANSDUCTION
INHIBITORS
SIGNAL TRANSDUCTION
INHIBITORS
Blocks cancer growth signalsBlocks cancer growth signals
13
Established Products Business Unit:Unlocking Value
StrengthsStrengths
Oral solid dose
FocusFocus
“Niche” markets
Product enhancements and reformulations
Late stage lifecycle planning
Oral solid dose
FocusFocusFocusFocus
“Niche” markets
Product enhancements and reformulations
Late stage lifecycle planning
A leader in the LOE Market1111
Outpace market growth
2222A leading provider
of low cost medicines
3333
GoalsGoalsGoalsGoals
Brand equity and breadth
Product quality and reliability
Global presence
Technology innovation
Partnerships
Experienced local talent
14
Source: IMS Market Prognosis March, 2009 (total pharma Market Sales in USD with forecasted exchange rates, at ex-manufacturer prices)
Emerging Markets:A Driving Force of Future Growth
India: 15%
Japan: 5%
Germany: -1%
France: 0%UK: 1%
Brazil:
10%
Mexico: 6%
US: 4% China:
20%
Russia: 23%
Turkey: 16%Italy: -1%
Absolute Growth in Developed Markets by 2012: $35B (DM Average CAGR: 2%)
Absolute Growth in Emerging Markets by 2012: $71B (EM Average CAGR: 10%)
Projected Total Market Size for Emerging Markets by 2012: $233B
15
Pfizer Animal Health:A Leader in Animal Health
2008 revenue $2.8 billion
4,000+ colleagues worldwide
More than 700 colleagues are veterinary R&D
scientists and specialists
Operations in 60 countries
Products and services in livestock, poultry and
companion animal
We’re focused on disease prevention through our portfolio of
animal vaccines and animal prescription medicines.
16
Partnering with PfizerWorldwide Business
Development
www.pfizer.com/partnering
17
A Long History of Successful Collaborations…
MacugenEyetech
ZyrtecUCB
ZithromaxPliva
InspraNovartis
GenotropinGenentech
AriceptEisai
CamptosarDaiichi/Yakult
LipitorWarner Lambert
CelebrexG.D. Searle
SpirivaBI
RebifSerono
Syk tyrosine kinase inhibitors
RigelAllergic Asthma
Dalbavancin
VicuronAnti-infectives
CCR2 antagonists
IncyteRA, Diabetes
RAGE inhibitors
TransTechAlzheimer’s
Disease
RTP-801
QuarkAge-related Macular
Degeneration
Pip
eli
ne
La
un
ch
ed
/ A
pp
rove
d
1980s 1990s 2000s
EraxisVicuron
FesoterodineSchwarz Pharma
ApixabanBristol-Myers
SquibbCV/Metabolic
ST-04, ST-03
ScilInflammation
DimebonMedivationAlzheimer’s
Disease
ThelinEncysive
18
…And a Commitment to Flexible Working Relationships*
Co-Promotion,
Co-Development
Research
Alliances
Out Licenses
Venture Investments
*Represents a sampling of creative deal structures Pfizer has completed. Deals listed may fit into more than one category noted above
Adolor
Boehringer Ingelheim
Bristol-Myers Squibb
Eisai
Eyetech
Medivation
Serono
Bioren
BioRexis
Coley
CovX
Encysive
Esperion
Idun
Meridica
PowderMed
Rinat
Serenex
Eisai
InsiteArchemix
Abgenix
Direvo
FivePrime
Hydra
Icagen
Medarex
Melior
MorphoSys
Noxxon
Renovis
Scripps
TacereMergers & Acquisitions
Aureon
Avid Radio-pharmaceuticals
Aviir
Entelos
Evolution Benefits
Genomic Health
Handylab
HD Biosciences
M2s
Nodality
Supplyscape
Incubator
Fabrus
RGo
Wintherix
Licenses
Bayer
Celldex
Cytos
FivePrime
Incyte
Kosan
Quark
Rigel
Schwarz
Scil
Sigma Tau
Taisho
Tacere
TransTech
Xoma
Small molecules
Biotherapeutics
19
Working Together to Progress Assets, Programs and Technologies
Alzheimer’s Disease
Diabetes
Inflammation &
Immunology
Oncology
Pain
Psychosis
Biotherapeutics
Vaccines
Science & Technologies
(Discovery Platform
Lines, Drug Safety R&D,
Pharmacokinetics,
Dynamics and
Metabolism)
Asthma
COPD
Genitourinary
Infectious Disease
Ophthalmology
Smoking Cessation
Thrombosis
Transplant
Ex-US Opportunities
Areas of Interest Types of Relationships
Licensing
Co-Development / Co-
Promotion
Alliances
Venture Investments
M&A
Out Licensing
See appendix for additional detail.
20
Increased Focus and Transparency: Examples of High Priority Deals
Pain
• Adolor: delta opioid receptor agonist
• Icagen: sodium ion channels
• Rinat: RN624
• Renovis: VRI antagonists
• Hydra Biosciences: TRPV3
Diabetes
• Bayer: BAY 74-4113
• CovX: platform
technology
Alzheimer’s Disease
• Medivation: dimebon
• Rinat: RN1219
• Transtech: TTP-4000/TTP-488
Oncology
• Celldex: CDX-110
• Serenex: HSP-90 Inhibitors
• Coley: vaccines
• CovX: platform technology
Inflammation
• Incyte: CCR2 antagonists
(RA)
Schizophrenia
• Taisho: mGLuR agonist
21
Working With Us
Our Commitment to You: Open communications, transparency
and flexibility – the core of every partnership
Our Goal is Simple: Evaluate your asset as if it were our own.
22
Business Development, Strategy & Innovation
Search & Evaluation
Bob Bagdorf
Strategic Alliances
Ruth Keir
Out Licensing
David Rosen
Venture Capital
Barbara Dalton
International / New BD
Tony Scullion
Transactions
Doug Giordano
Strategy & Innovation
Kristin Peck
BBC &Oncology BD
Polly Murphy
Operations
Deb Mangone
Business Development,Strategy & Innovation
Bill Ringo
Leadership team also includes HR, finance and communication partners
23
International Business Development Current Focus
IBD…complements global deal efforts in alignment with WWBD
We strive to search, identify & execute business development deals focused on:
Late stage compounds (Phase 3….Launched) across a broad scope of Therapy Areas – including non-Pfizer’s core areas
Broad scope of geographies – any market/region ex-US
Variety of deal types – License / Co-Promotion / Co-Marketing
Country
Specific
Deals
Multi-
Country
Deals
International
Deals & co-
development
deals
Region
Specific
Deals
Multi-
Regional
Deals
24
Selected International Business Development Projects –a wide range of Therapy Areas and geographies
Allergy & Respiratory
Anti-histamine - Turkey & Mexico
Idiopathic Pulmonary Fibrosis -Ex -US
Respiratory product range –EU, LA & Asia
Cardiovascular / Metabolic
Anti-arrhythmic - Ex-US
Antihypertensive combo product - EU markets and Asia
Atrial fibrillation - Ex-US
Connective Tissue Disease -Europe
Diabetes - Ex-US
Gout – Emerging Markets
Osteoporosis - Asia
Statin – Australia
Gastrointestinal
Constipation - Ex-US
Irritable Bowel Syndrome Ex-US
PPI - Ex-US
Genitourinary
BPH – CEER
Premature Ejaculation - Ex-US
Infectious Diseases
Anti-malaria - Africa
HBV - EU
Neuroscience
Multiple Sclerosis - Ex-US
Tinnitus - Worldwide
Ophthalmology
Glaucoma - EU
Ophthalmology products - Ex-US
Pain
Opiod Patch reformulation - Ex-US
Pain reformulation products -Emerging Markets
Other
Branded generics - India
Screening / Non-Confidential
Reviews
Confidential Review and
assessment
Due Diligence
Term Sheet
Co
ntr
ac
t s
ign
ed
25
Recent International Business Development Deals
Antihypertensive combination product
Building on Pfizer’s presence in hypertension
Asia deal signed with Japanese Company
Progressing selected other markets
Antihypertensive
Malaria is a strategic focus for Africa & the Emerging Market Area
Deal Signed with US company for Africa with ongoing discussions for other markets
Anti-malarial
Over 25 further active regional projects
Many different therapy areas
Many different markets / geographies
Other
Exciting area of unmet clinical need
Deal Signed for Europe with US company
Ongoing discussions for other markets
Connective tissue disease
26
International Business Development Team
Jamsheed
Banaji
Frank
Overtoom
Stephen
Schleier
Brian
PruittVacant
Alberto
BianchiVacant
Business
Unit (BU)
focus
AllPrimary
Care
Specialty
Care &
Vaccines
Emerging
Markets
Emerging
Markets
Emerging
Markets
Emerging
Markets
Regions
(within
Business
Unit)
Japan
Europe,
Canada,
Australia
New
Zealand
Europe,
Australia
New
Zealand
Central &
Eastern
Europe,
Russia,
Turkey,
Israel,
Caucar
AsiaLatin
America
Africa and
Middle
East
All IBD members have a secondary Therapy Area focus
Business Development for the Oncology and Established Products BU’s is handled globally
27
We’re Ready to Talk With You
Allergy & Respiratory
Chris Brown
Cardiovascular
Ann Barry
Gastrointestinal
Chris Brown
Genito-Urinary
Jeff Hurtig
Infectious Disease
Anti-fungals/Anti-virals
Alex Chanas
Infectious Disease
Anti-infectives/Anti-bacterials
Cyndi Green
Inflammation
Richard Griffiths
Metabolic & Endocrine Disorders
Wick Johnson
Bob Knowles
Neuroscience
(Neurology/Psychiatry)
Tom Heffner
Oncology
Elizabeth Bachert
Ophthalmology
Stacy Evans
Pain
James Kenney
For BBC Business Development,
please contact
Polly Murphy
Vice President
Science & Technology
Ruth Keir
Asia
Alex Fowkes
For Venture Investments, please contact:
Barbara Dalton
Vice President
For Externalization Opportunities, please contact:
David Rosen
Executive Director
For New Business Development, please contact:
Tony Scullion
Senior Vice President
For International Business Development, please contact:
Jamsheed Banaji
Senior Director International Business Development
For acquisitions & divestitures please contact:
Doug Giordano
Vice President
28
Pfizer remains committed to partnering opportunities – neither the
current climate nor the proposed Wyeth acquisition changes this
The current climate offers some unique investment opportunities
Pfizer remains flexible on deal structure and terms – each deal is
different
Hopefully the previous slides have given you an indication of the
breadth of type of opportunities we would consider
We look forward to hearing from you
Summary and current climate
