Pfizer plans to unveil new drugs
Pfizer Ltd, which is restructuring its products, plans to grow in the Indian market by launching new drugs from the parent company's portfolio and through product acquisitions. The company had begun its restructuring about a year ago and expect that it would take another six months for its initiatives to stabilise. The launch of Viagra is a step in that direction. In future, Pfizer hope to bring in many more new products from its global portfolio, besides a patented product by 2007. The company has set up separate divisions for various therapeutic segments such as drugs for central nervous system, cardiovascular diseases, oncology, neurology and so. Each division would work like a separate business unit (SBU) and have separate profit and loss accounts. There will be a separate division for mature products too.
Pfizer is in the process of identifying gaps in its portfolio and filling them with products either from the international stable or through acquisitions. The company is confident of achieving a double-digit growth in India in 2006-07. The industry's growth has slowed to 6-7 per cent but the company expect to maintain a healthy double-digit growth from the existing portfolios and new launches. Pfizer is also confident that its top grosser brands such as Becosule and Corex, which had a turnover of Rs 70 crore and about Rs 90 crore respectively during 2005, would continue to grow. On the global front, Pfizer is developing a drug for female sexual dysfunction, after successfully selling 1.87 billion Viagra pills worldwide. The company is working on three different molecules, which are at various stages of trial. One molecule is undergoing Phase II trials in the UK, the Netherlands and the Scandinavian countries while the other two drugs are in the Phase I trial stage.