Csr Report on Pfizer
Introduction
Pfizer is one of the world’s largest research-based biopharmaceutical companies. In case of revenues according to the annual reports Pfizer stands second for two consecutive years 2009-2010 lead by Johnson and Johnson (see Appendix- 1 for complete table for 2008, 2009 and 2010) leaving behind companies like GlaxoSmithKline, UK and Novartis, Switzerland. Pfizer was founded by two cousins Charles Pfizer and Charles Erhart in 1849, at Brooklyn, New York. It has its headquarters in New York City. Its first achievement was due to Civil War, as there was a heavy demand of painkillers and other disinfectants. In 1862, Pfizer produced tartaric acid and a cream of tartar to fulfil the need of the army. Pfizer gained mass success by becoming the America’s leading producer of citric acid (used to manufacture penicillin) in 1919. In the late 2000’s Pfizer expanded globally with the acquisition of Warner-Lambert, Pharmacia and Wyeth, becoming the first U.S pharmaceutical company to join the U.N Global Compact (training and nurturing partnership between companies by promoting good corporate citizenship). Pfizer generates more than 58 percent of revenue from international markets.
Pfizer’s approach towards Corporate Social Responsibility (CSR)
CSR according to csrnetwork.com, 2009 is about how a business “align their value and behaviour with the expectation and needs of stakeholder” in simple words it is a term that states that the company is for the people and it should be the priority of the company to opt for the business suitable and acceptable by its stakeholders (customers and investors, suppliers, communities, special interest groups and societies). The company should be answerable and committed to its stakeholders.
Pfizer’s Corporate Social Responsibility report, 2009 speaks about Pfizer’s initiative to work more ethically to achieve its mission of “working together for a healthier world”. The company lays great emphasis on its stakeholders, especially
Pfizer is one of the world’s largest research-based biopharmaceutical companies. In case of revenues according to the annual reports Pfizer stands second for two consecutive years 2009-2010 lead by Johnson and Johnson (see Appendix- 1 for complete table for 2008, 2009 and 2010) leaving behind companies like GlaxoSmithKline, UK and Novartis, Switzerland. Pfizer was founded by two cousins Charles Pfizer and Charles Erhart in 1849, at Brooklyn, New York. It has its headquarters in New York City. Its first achievement was due to Civil War, as there was a heavy demand of painkillers and other disinfectants. In 1862, Pfizer produced tartaric acid and a cream of tartar to fulfil the need of the army. Pfizer gained mass success by becoming the America’s leading producer of citric acid (used to manufacture penicillin) in 1919. In the late 2000’s Pfizer expanded globally with the acquisition of Warner-Lambert, Pharmacia and Wyeth, becoming the first U.S pharmaceutical company to join the U.N Global Compact (training and nurturing partnership between companies by promoting good corporate citizenship). Pfizer generates more than 58 percent of revenue from international markets.
Pfizer’s approach towards Corporate Social Responsibility (CSR)
CSR according to csrnetwork.com, 2009 is about how a business “align their value and behaviour with the expectation and needs of stakeholder” in simple words it is a term that states that the company is for the people and it should be the priority of the company to opt for the business suitable and acceptable by its stakeholders (customers and investors, suppliers, communities, special interest groups and societies). The company should be answerable and committed to its stakeholders.
Pfizer’s Corporate Social Responsibility report, 2009 speaks about Pfizer’s initiative to work more ethically to achieve its mission of “working together for a healthier world”. The company lays great emphasis on its stakeholders, especially