In the global pandemic, pharmaceutical companies participated in developing vaccines and providing nations with proper prevention and treatment products. As a significant American player in the worldwide pharmacy market, Pfizer successfully participated in and initiated research, clinical trial, and cures creation. Such valuable pharmaceutical companies win over competitors because of internal solid corporate frameworks, a clear mission, and well-built working processes (Galli, 2017). This paper aims to describe Pfizer’s organizational structure based on the latest changes and industries.
Pfizer is a research-based biopharmaceutical firm primarily involved in science, clinical trials, vaccines, and cures development. The company was founded in 1849 by Pfizer and Erhart, and for more than 170 years of operation, Pfizer expanded to various segments, such as primary and specialty care, oncology, consumer healthcare, nutrition, capsule, and others (Galli, 2017). Today, Phizer’s CEO is Albert Bourla, and the executive board contains a dozen members with different responsibilities (Galli, 2017). The operations can be separated into two business groups, the first one is responsible for innovative health, and the second – is for the essential.
Phizer’s organizational structure is based on three broad segments: global vaccines, oncology, and consumer healthcare business, international innovative pharma business, and global established pharma business. Each part is divided by the regions, such as the United States, developed Europe, developed rest of the world, and emerging markets (Galli, 2017). All segments are involved in the research and making innovative healthcare products related to their field. Pfizer performs its global strategy with more than 90,000 employees worldwide by providing each segment with research, trial, and development groups (Galli, 2017). The highly-centralized organizational structure allows the company to achieve results in significant fields such as vaccine development.
Pharmaceutical firms must be highly-compliant in their fields of study, and Phizer has authority in innovation and essential healthcare products market. The structural division by segments and regions allows the company to manage the processes with equal efficiency and maintain its dependence on the chief executives. Phizer’s biopharmaceutical research and other activities help improve the healthcare industry and create jobs for scientists and laboratories worldwide.
Reference
Galli, B. J. (2017). Applying strategic analysis to quantify investor risk of Pfizer Pharmaceuticals. International Journal of Risk and Contingency Management (IJRCM), 6(3), 1-13. Web.