how can Pfizer meet it's goals?
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• To expand future revenues, Pfizer is taking a number of actions to deliver more products of greater value more quickly. The company will step up its Research and Development investment in areas that are especially promising. In biotherapeutics, Pfizer will strengthen its capabilities in vaccines and antibodies. It is also dramatically simplifying the organizational structure of R&D to increase accountability, flexibility, innovation and entrepreneurship. In addition, the company will complement its accelerated internal efforts with business development activities that will secure new medicines as well as related products and services designed to enhance the value of its medicines....
• Pfizer will generate cost savings through site rationalization in research and manufacturing, streamlined organizational structures, staff function reductions, increased outsourcing and procurement savings. The company will reallocate many of these cost savings to more value-added activities. After making those investments, Pfizer plans to achieve an absolute net reduction in the pre-tax total expense component of adjusted income1 of between $1.5 billion and $2 billion by the end of 2008, while continuing to invest in R&D, business development, emerging markets and new marketing approaches.
