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PFIZER WELL-POSITIONED TO COMPETE IN MANAGED CARE WITH STRONG PRODUCT PORTFOLIO AND EXPANDED MARKETING INITIATIVES (Company Profile)

 NEW YORK, Oct. 25 /PRNewswire/ -- Pfizer is "exceptionally well positioned" to meet the challenges of a rapidly changing health care marketplace, Pfizer Inc (NYSE: PFE) Vice Chairman Edward C. Bessey told financial analysts and guests at a scheduled briefing today.
 Mr. Bessey described the steps Pfizer is taking to manage its successful traditional business while, "simultaneously addressing the quite different needs of the rapidly growing field of managed care."
 Commenting on this shift from traditional to managed care, Mr. Bessey said, "The opportunity for Pfizer lies in managing the transition... armed with a strong new product pipeline, large but flexible field forces, a world-class marketing team and more than adequate financial resources."
 Mr. Bessey emphasized that Pfizer's products "provide superior health outcomes in a cost-effective way," which gives the company "a powerful competitive advantage."
 Karen Katen, executive vice president of the company's U.S. Pharmaceuticals Group, reviewed the performance of Pfizer's product portfolio and the company's integrated managed care strategy.
 "We are dealing with the new realities," she said. "We're taking a series of initiatives to ensure that all our customers, including managed care, fully understand how our medicines meet their needs. They have a strong vested interest, as do we, in outcomes and disease management. We have a very clear and pragmatic view of what it will take to ensure that they value Pfizer and its products."
 Henry A. McKinnell, Ph.D., chief financial officer, said that Pfizer has achieved a number of strategic goals over the last several years, including "focusing Pfizer as a diversified health care company,... building one of the most productive research and development organizations in the industry and successfully launching six major new pharmaceutical products."
 "Our objectives move now to further improving our competitiveness in a rapidly changing environment," he continued. "The restructuring program announced last week is the latest step along this road."
 Dr. McKinnell said that Pfizer plans to have filed during 1993 six submissions seeking approval from the U.S. Food and Drug Administration. New applications include pediatric uses for four products: Reactine, a low-sedating anti-histamine, Diflucan, the Pfizer breakthrough anti- fungal drug, Zithromax, the first of a new class of antibiotics, and Unasyn, an antibiotic which overcomes the resistance of some bacteria to penicillin class drugs.
 Pfizer has also filed for FDA approval for the use of Cardura, a one-a-day selective alpha blocker now prescribed for the treatment of hypertension, in the treatment of benign prostatic hypertrophy, and plans to file by year end for Enable (tenidap) for the treatment of rheumatoid and osteo-arthritis.
 "In addition, Reactine for adults, Diflucan for prophylaxis and vaginal candidiasis, Zoloft for obsessive-compulsive disorder and a sustained release formulation of Glucotrol (for the treatment of type II diabetes) are already well into their FDA reviews. All represent significant near-term opportunities," Dr. McKinnell said.
 He also noted that the irritable-bowel-syndrome research program has shifted development focus from zamifenacin, which did not meet safety standards in Phase II clinical trials, to "a very attractive back-up candidate" which is also in Phase II clinical trials.
 Pfizer Inc is a research-based, diversified health care company with global operations. The company reported sales of approximately $7.23 billion for 1992.
 -0- 10/25/93
 /CONTACT: Brian McGlynn of Pfizer, 212-573-2051/
 (PFE)


CO: Pfizer Inc ST: New York IN: HEA SU:

MP -- NY045 -- 6199 10/25/93 10:15 EDT
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Publication:PR Newswire
Article Type:Company Profile
Date:Oct 25, 1993
Words:559
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