Dear Shareholders,
The year 2020-21 has been nothing short of a roller coaster ride for each of us. At one
moment, we are spiraling towards the ground at uncontrollable speed owing to the
challenges posed by the pandemic, and soon after, we are making a steady climb upwards,
propelled by our resilience to never back down in the face of adversity. Over the past
year, with every incumbent wave, we have outmaneuvered the pandemic. We have progressed on
making India safe on the back of the robust healthcare interventions put in place by the
Government, private institutions, pharmaceutical companies, healthcare professionals and
other frontline warriors. I urge you all to join me in applauding my peers in the
Industry, Government officials, healthcare practitioners, trade partners, Municipal
authorities and frontline warriors for their unparalleled commitment to saving lives and
gearing our country towards a healthier and happier future.
With at least 13 different vaccines being administered globally1 against
COVID-19 what better time than now to realize the importance of SCIENCE. Undoubtedly,
developing and delivering the world's first COVID-19 vaccine is one of Pfizer's biggest
stories today, but we have a history of breakthroughs that have impacted lives of millions
and billions of people world over. Today, we celebrate each of those breakthroughs!
More recently, while the world grappled with the repercussions of the pandemic, we
continued to work towards accomplishing our purpose Breakthroughs that Change Patients'
Lives and implemented various innovations to make sure that despite lockdowns and
travel restrictions, our medicines and vaccines reached over 240 million patients across
India. We accelerated launches of life-saving products, initiated our digital
transformation journey, and contributed to India's COVID-19 relief efforts. However, as
has been our belief since day one 71 years ago, our journey to impact patients' lives has
only just begun and there's much more that we wish to achieve to make a difference in the
lives of patients and communities alike.
On the business front, while the industry grew at 4.3%, your Company delivered 6.4%
growth for the year (IQVIA MAT Mar 21). Our flagship brands, such as Becosules, Mucaine,
Corex, Gelusil, Eliquis, and Zavicefta, showed strong performance throughout the year. To
further accelerate our growth, we have proactively taken several steps towards our product
portfolio, resource allocation and go-to-market strategies that are expected to yield
positive results in the coming years.
A new, innovative Pfizer
As we turned the leaf to 2021, Pfizer Inc. launched a new corporate brand identity.
This transformation was our way of expressing Pfizer's renewed focus on science and
patients, a charter that is the blueprint of our growth in the future. Our dynamic new
logo, birthed from the new identity, is a symbol of scientific innovation. To craft this
new logo, we unlocked the pill form to reveal the core of what we do - the DNA helix the
code and engine of human potential.
Every successful emblem captures its company's DNA embracing its history while leaning
into its future. Pfizer's new corporate brand identity is a digital-first expression of
its commitment to the transformative power of science. It's a dynamic reflection of our
purpose. And it's a clear signal that the new Pfizer is about daring more courageously,
inquiring more deeply, and advocating more passionately to make what was once unimaginable
– reality.
Tackling the COVID crisis
2020-21 seemed to be the year of COVID-19, but we made it a year of excellence and
empathy. Our manufacturing units continued to churn essential medicines, and our
colleagues at these locations braved all odds to fulfill their commitment to protecting
people's lives. Our Supply Chain colleagues collaborated with equally dedicated partners
from within the industry and beyond to ensure that our medicines reached hospitals,
clinics, and pharmacies. Our actions were driven by the belief embedded in our hearts and
minds that everyone has the right to good health.
Our organisation is centered around people and their health needs. Hence, caring for
the community has been an integral part of our way of doing business. Since the first wave
hit our shores, we have rolled up our sleeves and supported the Government in shouldering
the responsibility of making India safe again. From donating masks, ventilators, medical
equipment, essential drugs, RT-PCR test kits and much more to those in need, to helping
make 400 beds operational equipped with Oxygen cylinders for COVID patients being treated
at the Yamuna COVID Centre in Delhi. Our Global counterparts too extended a helping hand
to pull India out of suffering through one of the most enormous humanitarian relief
efforts amassed by our organisation ever, in any country.
I have always been mesmerised by the capabilities that humankind possesses - our
ability to come together behind a cause and see to it that it achieves success. The
pandemic reminded me of this ability of ours again. While it showed us the worst of
nature, we witnessed the best of humanity.
Building our human capital
While there is a circle of life that exists - one that hangs in a delicate balance to
ensure that all living beings thrive, there's a similar harmony that orchestrates between
organisations and colleagues. To maintain this harmony, provide a brighter future for
Pfizer and an excellent quality of life for our colleagues, we have always focused on
attracting the right talent and equipping them with the right tools to succeed. Over the
past year, we have focused on making your Company as diverse as the patients and
communities we serve. To this end, in addition to onboarding talent from diverse
backgrounds, we have relooked at our policies to ensure an outstanding work-life balance,
provide adequate support to colleagues, and make moments that matter to them more
memorable.
All this and more has led to Pfizer being certified as a Great Place to Work
by the Great Place to work Institute. This certification is the ‘Gold Standard' that
organisations around the globe aspire to achieve, to enhance and endorse their employer
brand. It reflects our High Trust,
High-Performance Culture that each of our colleague has been instrumental in building.
Leveraging digital
Our field colleagues mastered digital platforms to continue their relationships with
healthcare professionals; we launched innovative platforms and engagement activities to
meet patients' needs. We also transformed many of our internal systems to make them agile
and go hand-in-glove with the requirements of our trade partners and meet the demands of
the digital age. Today, and in the years to come, our commitment to science and patients
will be fulfilled by the coming together of the genius of our colleagues and the
brilliance of the latest developments in technology.
We, at Pfizer, if it results in a better life for our patients. The year
2020-21 has witnessed our efforts to achieve just that and make the impossible,
possible. Continuing with the same momentum on our journey, we wish to make more therapies
accessible to patients and physicians across India. While we play our parts to the best of
our abilities, to all pharma industry members, I request you to rally behind our
collective aim and make a difference in people's lives. Let us all collaborate, discuss
innovative ideas, and make
India stand out with its achievements in healthcare. To our shareholders, I thank you
for your belief in Pfizer and what it stands for.
Warm Regards
S. Sridhar