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Pfizer Inc  (PFE)
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Pfizer Inc's

Competitiveness


 

PFE Sales vs. its Competitors Q2 2019



Comparing the results to its competitors, Pfizer Inc reported Total Revenue decrease in the 2 quarter 2019 year on year by -1.5 %, faster than overall decrease of Pfizer Inc's competitors by -5.5 %, recorded in the same quarter.

List of PFE Competitors

With net margin of 38.12 % company achieved higher profitability than its competitors.

More on PFE Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Pfizer Inc Net Income in the 2 quarter 2019 grew year on year by 30.34 %, while most of its competitors have experienced contraction in net income by -23.38 %.

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Pfizer Inc's Comment on Competitors and Industry Peers


Our businesses are conducted in intensely competitive and often highly regulated markets. Many of our prescription pharmaceutical products face competition in the form of branded or generic drugs that treat similar diseases or indications. The principal forms of competition include efficacy, safety, ease of use, and cost effectiveness. Though the means of competition vary among product categories and business groups, demonstrating the value of our products is a critical factor for success in all of our principal businesses.

Our competitors include other worldwide research-based biopharmaceutical companies, smaller research companies with more limited therapeutic focus, and generic drug and consumer healthcare manufacturers. We compete with other companies that manufacture and sell products that treat diseases or indications similar to those treated by our major products.

This competition affects our core product business, which is focused on applying innovative science to discover and market products that satisfy unmet medical needs and provide therapeutic improvements. Our emphasis on innovation is underscored by our multi-billion-dollar investment in R&D, as well as our business development transactions, both designed to result in a strong product pipeline. Our investment in research does not stop with drug approval; we continue to invest in further understanding the value of our products for the conditions they treat, as well as potential new applications. We seek to protect the health and well-being of patients by striving to ensure that medically sound knowledge of the benefits and risks of our medicines is understood and communicated to patients, physicians and global health authorities. We also seek to continually enhance the organizational effectiveness of all of our biopharmaceutical functions, including coordinating support for our salespersons’ efforts to accurately and ethically launch and promote our products to our customers.

Operating conditions have become more challenging under the mounting global pressures of competition, industry regulation and cost containment. We continue to take measures to evaluate, adapt and improve our organization and business practices to better meet customer and public needs. We believe that we have taken an industry-leading role in evolving our approaches to U.S. direct-to-consumer advertising; interactions with, and payments to, healthcare professionals; and medical education grants. We also continue to sponsor programs to address patient affordability and access barriers, as we strive to advance fundamental health system change through support for better healthcare solutions.


Our Consumer Healthcare business faces competition from OTC business units in other major pharmaceutical and consumer packaged goods companies, as well as retailers who carry their own private label brands. Our competitive position is affected by several factors, including, among others, the amount and effectiveness of our and our competitors’ promotional resources; customer acceptance; product quality; our and our competitors’ introduction of new products, ingredients, claims, dosage forms, or other forms of innovation; and pricing, regulatory and legislative matters (such as product labeling, patient access and prescription to OTC switches).

Managed Care Organizations

The evolution of managed care in the U.S. has been a major factor in the competitive makeup of the healthcare marketplace. Approximately 262 million people in the U.S. now have some form of health insurance coverage. Due to the expansion of health insurance coverage (see Government Regulation and Price Constraints—In the United States below), both the marketing of prescription drugs to consumers and the entities that manage this expanded coverage in the U.S. continue to grow in importance.

The influence of MCOs has increased in recent years due to the growing number of patients receiving coverage through MCOs. At the same time, those organizations have been consolidating into fewer, even larger entities. This consolidation enhances both their ability to negotiate, as well as their importance to Pfizer.

The growth of MCOs has increased pressure on drug prices as well as revenues. One objective of MCOs is to contain and, where possible, reduce healthcare expenditures. MCOs typically use formularies (which are lists of approved medicines available to members of the MCOs), clinical protocols (requiring prior authorization for a branded product if a generic product is available or requiring the patient to first fail on one or more generic products before permitting access to a branded medicine), volume purchasing, long-term contracts and their ability to influence market share and volume of prescription drugs to negotiate prices with pharmaceutical providers.

Due to their generally lower cost, generic medicines typically are placed in lowest cost tiers of MCO formularies. The breadth of the products covered by formularies can vary considerably from one MCO to another, and many formularies include alternative and competitive products for treatment of particular medical problems.

Exclusion of a product from a formulary or other MCO-implemented restrictions can significantly impact drug usage in the MCO patient population. Consequently, pharmaceutical companies compete to gain access to formularies for their products. Unique product features, such as greater efficacy, better patient ease of use, or fewer side effects, are generally beneficial to achieving access to formularies. However, lower overall cost of therapy is also an important factor. We have been generally, although not universally, successful in having our major products included on MCO formularies.

MCOs also emphasize primary and preventive care, out-patient treatment and procedures performed at doctors’ offices and clinics as another way to manage costs. Hospitalization and surgery, typically the most expensive forms of treatment, are carefully managed. Since the use of certain drugs can reduce the need for hospitalization, professional therapy, or even surgery, such drugs can become favored first-line treatments for certain diseases.
The ACA has accelerated payment reform by distributing risk across MCOs and other stakeholders in care delivery with the intent of improving quality while reducing costs, which creates pressure on MCOs to tie reimbursement to defined outcomes.
Generic Products

One of the biggest competitive challenges that we face is from generic pharmaceutical manufacturers. Upon the expiration or loss of patent protection for a product, especially a small molecule product, we can lose the major portion of revenues for that product in a very short period of time. Several such competitors make a regular practice of challenging our product patents before their expiration. Unlike us, generic competitors often operate without large R&D expenses, as well as without costs of conveying medical information about products to the medical community. In addition, the FDA approval process exempts generics from costly and time-consuming clinical trials to demonstrate their safety and efficacy, allowing generic manufacturers to rely on the safety and efficacy data of the innovator product. Generic products need only demonstrate a level of availability in the body equivalent to that of the innovator product. This means that generic competitors can market a competing version of our product after the expiration or loss of our patent and often charge much less.

In addition, our patent-protected products can face competition in the form of generic versions of competitors’ branded products that lose their market exclusivity.

As noted above, MCOs that focus primarily on the immediate cost of drugs often favor generics over brand-name drugs. Many governments also encourage the use of generics as alternatives to brand-name drugs in their healthcare programs, including Medicaid in the U.S. Laws in the U.S. generally allow, and in some cases require, pharmacists to substitute, for brand-name drugs, generic drugs that have been rated under government procedures to be chemically and therapeutically equivalent to brand-name drugs. The substitution must be made unless the prescribing physician expressly forbids it. In the U.S., Pfizer’s Greenstone subsidiary and Pfizer Injectables sell generic versions of Pfizer’s, as well as certain competitors’, solid oral dose and sterile injectable pharmaceutical products, respectively, upon loss of exclusivity, as appropriate.





  

All other Segment Market Share Q2 2019

Due to outstanding performance in All other segment, revenue grew by 223.18 % Pfizer Inc has inceased its market share in this segment.





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Arthritis & pain Segment Market Share Q2 2019

Arthritis & pain segment, revenue fell by -72.25 % and company lost market share, to approximate 1.65 %.





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Cardiovascular & metabolic diseases Segment Market Share Q2 2019

Cardiovascular & metabolic diseases segment, revenue fell by -49.12 % and company lost market share, to approximate 12.59 %.





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Central nervous system disorders Segment Market Share Q2 2019

Central nervous system disorders segment, revenue fell by -90.44 % and company lost market share, to approximate 1.56 %.





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Consumer Healthcare and Vaccines Segment Market Share Q2 2019

Consumer Healthcare and Vaccines segment, revenue fell by -67.46 % and company lost market share, to approximate 14.28 %.





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Endocrine disorders Segment Market Share Q2 2019

Endocrine disorders segment, revenue fell by -17.92 % and company lost market share, to approximate 4.83 %.





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Infectious & respiratory diseases Segment Market Share Q2 2019

Infectious & respiratory diseases segment, revenue fell by -49.45 % company lost market share within this segment.





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Oncology Segment Market Share Q2 2019

Oncology segment, revenue fell by -2.79 % and company lost market share, to approximate 5.1 %.





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Urology Segment Market Share Q2 2019

Urology segment, revenue fell by -30.77 % and company lost market share, to approximate 7.17 %.





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*Market share is not actual measurement, only performance comparison of companies which report and operate within the same segment.


PFE's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME TICKER MARKET CAP REVENUES INCOME EMPLOYEES
Pfizer Inc PFE 197,244 53,657 12,684 78,300
Abbott Laboratories ABT 146,476 31,904 3,687 77,000
Allergan Plc AGN 64,004 16,089 -5,265 10,500
Amgen Inc. AMGN 128,881 32,341 7,842 17,900
Biogen Inc. BIIB 56,919 14,465 5,391 7,550
Bristol Myers Squibb Co BMY 102,526 24,173 5,678 25,000
Eli Lilly And Company LLY 123,986 22,320 8,318 39,135
FOREST LABORATORIES, INC. FRX 0 0 0 0
Johnson & Johnson JNJ 388,082 82,059 15,119 126,500
King Pharmaceuticals, Inc. KG 0 0 0 0
MEDIMMUNE, INC. MEDI 0 0 0 0
Merck & Co., Inc. MRK 207,273 45,971 9,191 70,000
Procter & Gamble Co PG 319,820 69,594 -1,751 110,000
Mylan N.v. MYL 0 11,535 34 25,000
SCHERING-PLOUGH CORPORATION SGP 0 0 0 0
Watson Pharmaceuticals Inc WPI 0 0 0 0
Wyeth WYE 0 0 0 0
Actavis Plc ACT 4,232 10,573 -751 19,200
Cephalon, Inc. CEPH 0 0 0 0
Celgene Corp CELG 78,961 16,982 1,834 6,012
Gilead Sciences, Inc. GILD 91,372 22,365 2,678 7,000
Covidien Plc COV 0 10,880 1,605 39,500
Patterson Companies, Inc. PDCO 2,184 5,581 55 7,000
GENZYME CORPORATION. GENZ 0 0 0 0
Hospira Inc HSP 0 6,921 -8 0
Abbvie inc. ABBV 131,478 33,335 3,309 26,000
Baxter International Inc BAX 45,688 11,080 1,582 66,000
Zivo Bioscience, Inc. ZIVO 57 0 -10 2
Balchem Corporation BCPC 3,183 644 80 1,060
Petvivo Holdings, Inc. PETV 10 0 -3 4
SUBTOTAL 2,092,376 522,468 71,299 758,663


             
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