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Clash Of The Titans (Merger Of Pfizer & Warner Lambert)

2990 words - 12 pages

Clash of the Titans? The Merger of Two Industry Giants AT a time of uncertainty and imminent change in the pharmaceutical industry, the successful merger of Pfizer and Warner-Lambert is dependent upon several critical factors. The new Pfizer is faced with the daunting task of facilitating a smooth integration between Pfizer and Warner-Lambert to take advantage of potential synergies and competitive advantages offered by the merger of these two industry giants. In order to achieve success, the new Pfizer must overcome three potentially devastating problems that pose a threat to achieving a successful merger. These are: 1) integration difficulties; 2) inability to achieve synergy; and 3) the ...view middle of the document...

In 1999, Pfizer became the only company in the pharmaceutical industry to have seven medicines that each achieved over a $1 billion in sales annually. These "blockbuster" drugs include: Norvasc® (anti-hypertensive); Zoloft® (antidepressant); Zithromax® (oral antibiotic); Viagra® (erectile dysfunction); Celebrex® (anti-arthritis); Diflucan® (antifungal); and Litipor® (cholesterol-lowering). All of these medicines are worldwide leaders (either most-prescribed or largest-selling) in their respective areas. With the acquisition of Warner-Lambert, the new Pfizer is anticipating annual revenues in 2000 of approximately $31 billion, nearly double Pfizer's 1999 total of $16.2 billion. Over $5 billion of the anticipated revenue for 2000 will come from sales of Lipitor alone, a drug jointly developed between Pfizer and Warner-Lambert.Pfizer's success in effectively managing its strategic assets has been made possible by the continual development and utilization of its capabilities. One of the critical success factors for any company in the pharmaceutical industry is the ability to maintain a steady stream of new blockbuster drugs to maintain growth. In 1999, Pfizer invested over $2.8 billion in research and development. With the acquisition of Warner-Lambert, Pfizer's fiscal commitment to research and development is expected to reach $4.7 billion by 2002. The new Pfizer will have over 12,000 scientific staff worldwide working in six major research centers located across the globe. Currently, the new Pfizer has over 200 drugs in the research and development pipeline. In light of the fact that increasing competition and patent expirations will result in the need for new, highly profitable drugs, the new Pfizer must utilize the economies of scale that the acquisition of Warner-Lambert affords in order to integrate and rapidly streamline the research & development process.Pfizer's dramatic success in the 1990's is also due to its competencies in the area of sales and marketing. In 1999, Pfizer's sales force was ranked #1 in the pharmaceutical industry for a record 5th straight year. With the acquisition of Warner-Lambert, the new Pfizer's sales force will be comprised of 8,000 sales representatives allocated into nine divisions worldwide. In the pharmaceutical industry, larger sales forces tend to be more productive because it affords the opportunity for sales representatives to spend more time with potential customers (physicians, hospitals, and pharmacies). Pfizer has historically been able to draw upon the competencies of its sales and marketing division to develop strategic partnerships with other pharmaceutical companies. Currently, Pfizer markets smaller pharmaceutical companies' drugs. This is advantageous because it provides a source of revenue not directly dependent upon Pfizer's own research and development operations. The new Pfizer should continue to develop strategic...

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