PFE has made a substantial business in the vaccine domain. Being one of the largest healthcare providers it has also succeeded in making their strong hold in the vaccine sector. It is considered as the fourth largest company in the vaccine business. The only thing that has taken them so far with their vaccine campaign is Prevnar. Apart from that they don’t really have any other drug. But now considering the potential of this industry, The Company now plans to extend its portfolio by working on more vaccine related projects.
When PFE acquired Wyeth, they got Prevnar which has resulted as a successful venture for the company. Although it gave a boost to their revenues but it also had its commercial shots. “Wyeth was basically a one-vaccine company and probably struggled to find the resources to expand it into a fully-fledged portfolio,” claimed the CEO of Pfizer. He further added that the company has been working since the past four years to extend their vaccine domain. This has been constantly in action since is acquired Wyeth. They know that they do not expect a return at least for a decade. Considering the long term prospects of the venture, the company is willing to wait for more than a decade.
For the same reason the company has been working on their meningococcal B and Staphylococcus vaccines which are expected to reach the market in near future. Both these drugs are in their phase III and II, respectively. Novartis and Merck are direct competitors of Pfizer who are also focusing on their vaccine segment.
The company understands there are great chances of failure which are associated with such ventures. Thus they have learnt from their competitors mistakes and will not make such blunders which they made earlier. “Pfizer has fed this knowledge into the design of its vaccine and believes it is well-placed to prevent an infection that costs U.S. healthcare billions of dollars a year.” states the firm.
The current focus of the company as long as the vaccine segment is concerned, is to make Prevnar available in those markets where it is not found. Thus they plan to extend their reach among the masses and secondly it aims to work and bring its two vaccines in pipeline in the market.