Pfizer Inc. (NYSE:PFE) provides answers for some challenging questions often put by the public and shareholders. The answers were given during the recently held integrated annual review for 2014. The management answered several questions like why do public find medicines so expensive or why is it so tough for the experts to find a treatment for cancer.
The management speaks
Ian C. Read, the Chairman and Chief Executive Officer of Pfizer, writes in his annual letter to the company’s shareholders highlighted in the annual review that the company is on a multi-year journey. During 2014 the management recorded a number of significant achievements despite a slowdown in global economy.
There were other problems like the losses of exclusivity that the company had to deal with in FY2014. Pfizer is concentrating its initiatives on seeking to profitably expand its business and increase the sources of revenue. The objective is to strengthen the core business and introducing forth new therapies that considerably improve peoples’ lives.
The highlights
The 2014 integrated annual report also focused on a number of deals focused on collaborative research and development. It stated how Pfizer Inc. (NYSE:PFE) is dealing with the drastic rise in non-communicable diseases. The company stated that the health industry is witnessing healthy and active aging that shows the rapid shift in global demographics.
In other news, Phase 3 trial called PALOMA-3 that was evaluating Pfizer’s Ibrance in combination with fulvestrant, has been stopped early in expanded indication for Ibrance. Based on the evaluation by the “independent Data Monitoring Committee” the trial was stopped after it met its major efficacy endpoint of advancement in progression-free survival. The trial compared the combination of fulvestrant and palbociclib to fulvestrant plus placebo in women with HR+, HER2- metastatic breast cancer. The results will be demonstrated at the upcoming ASCO meeting, scheduled from May 29 to June 2, 2015 in Chicago.
