ough the company’s three operating segments: GIP, GEP, and VOC. Marketing and Customers In the company’s global biopharmaceutical businesses, the company promotes its products to healthcare providers and patients. Through its marketing organizations, the company explains the approved uses, benefits, and risks of its products to healthcare providers, such as doctors, nurse practitioners, physician assistants, pharmacists, and the managed care organizations that provide insurance coverage, such as hospitals, integrated delivery systems, pharmacy benefit managers, health plans, employers, and government agencies. The company also markets directly to consumers in the U.S. through direct-to-consumer advertising that communicates the approved uses, benefits, and risks of its products. The company’s prescription pharmaceutical products are sold principally to wholesalers, and it also sells directly to retailers, hospitals, clinics, government agencies, and pharmacies; and in the case of Prevnar 13 in the U.S., the company primarily sells directly to individual provider offices, the Centers for Disease Control and Prevention, and wholesalers. During 2014, the company’s three major biopharmaceutical wholesalers in the U.S. were McKesson, Inc.; Cardinal Health, Inc.; and AmerisourceBergen Corporation, which accounted for 13%, 10%, and 9% of the company’s total revenues, respectively. Sales to these wholesalers were concentrated in the biopharmaceutical businesses. The company’s global Consumer Healthcare business utilizes its own sales and marketing organizations to promote its products, and occasionally uses distributors in smaller markets. Consumer Healthcare products are sold through various channels, including distributors, pharmacies, retail chains, and grocery and convenience stores. Research and Development The company spent $8.4 billion in 2014 on research and development. In 2014, the company had 298 projects in research and development, ranging from discovery through registration, of which 86 programs are in Phase 1 through registration, with the remainder of the projects in pre-clinical development. In 2014, its Phase 3 portfolio contained 23 programs. Government Regulation The U.S. Food and Drug Administration regulates the company’s Consumer Healthcare products. Other federal agencies, including the U.S. Drug Enforcement Administration, also regulate some of its products. Majority of the company’s activities are also subject to the jurisdiction of the Securities and Exchange Commission. History Pfizer Inc. was founded in 1849. The company was incorporated under the laws of the state of Delaware in 1942.
pfizer inc (PFE*:Mexico)
235 East 42nd Street
New York, NY 10017
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