Growth through CARS Initiatives Pfizer is the world’s largest and one of the most admired pharmacy companies with an income of about US $52 Ban in 2013. In 2001 when Dry Hank McKinley took over as Chairman and CEO of the company, Pfizer was very stable and financially sound. It was poised to become the world’s largest pharmaceutical company with revenues doubling In the next five years. But the CEO had other serious challenges to contend with.
In response to these challenges, Dry McConnell formulated a new mission of Pfizer to become the world’s most valued company not Just to Investors, patients and customers but also, to employees, partners and communities where we live and work. ” In line with this mission, Pfizer became the first pharmacy company and one the first corporate in the world to sign up for support for the LINE Global Compact (UNC). UNC among other things envisages that businesses should: 1. Support and respect the protection of internationally proclaimed human rights and 2.
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Uphold the elimination of discrimination in respect of employment and occupation. To deliver on his commitments to these principles of UNC, Dry McKinley created and launched Its The Global Health Fellows Program (GAFF) In 2003 under his personal oversight. Under this program, Pfizer would send their skilled employees to developing countries on short term assignments (2 – 3 months) to help Noose there build health and social infrastructure in communities ravaged by various dreaded diseases.
These employees would transfer their professional, medical and business expertise to the Noose in such a way that the Noose would learn to promote more efficient access to quality health services for the needy. Starting with mere 18 people in 2004, today over 300 Pfizer employees participate in assignments in 45 countries in partnerships with 40 international development organizations. Experience shows that through GAFF initiative, the MONGO partners gained expertise in capacity-building analysis, planning and training that they couldn’t otherwise afford.
This helped them to Identify health trends and plan Interventions, enhanced their drug-trial competence helping them attract more western resources, and manage their programs better. International social cause as good corporate citizen. The Program became a personnel development tool. Returning volunteers came home with new operational and business insights as well as better understanding of the company’s stakeholder including patients, communities, medical professionals and MONGO etc around the world especially in emerging markets.
This in turn contributed to better policy making and program planning including bringing better AIDS therapies to the market. This program also served as a valuable recruitment and retention tool. It also helped build better relationships with legislative and regulatory authorities. Interestingly, the success of the GHB Program enthused Pfizer to include reports of philanthropic access programs in their financial reports to the investors.