At Pfizer, we understand that good corporate governance is essential to our standing as a trusted member of society, and we conduct ourselves accordingly.
Pfizer's Board of Directors is responsible for the oversight of management, including the overall strategic direction of the company, and for the company's policies on governance, executive compensation and compliance.
Read more about our Board of Directors here.
We are committed to promoting our products responsibly, educating patients and providers about their appropriate use, and reporting about our business practices in a fashion that promotes transparency.
Read more about our Ethical Sales and Marketing here.
Advertising in the U.S.
Our strict internal standards, going beyond compliance with the law, have been developed to ensure that the information we share with patients is scientifically sound, balanced, easy to understand and helpful in encouraging them to consult with a health care professional.
Read more about our Direct-to-Consumer Advertising here.
We believe that compliance with all applicable laws is integral to our ability to serve society. We train colleagues extensively in compliance and have an organizational structure designed to ensure good oversight of our colleagues, vendors and business partners.
Read more about our Compliance here.
Health Care Professionals
We do not pay health care professionals for prescribing our medicines or as an inducement for promoting our products. We believe it is appropriate and ethical to fairly compensate health care professionals for work they do on our behalf.
Read more about our Disclosing Payment to Health Care Professionals here.
Pfizer strives to uphold human rights in all our business activities. We also work to advance human rights by working to improve the health of people around the world.
Read more about our Human Rights here.
Our commitment to advancing health includes being good stewards of the environment.
We constantly assess our business practices and advance those that we believe produce measurable value for society and our business, while minimizing risk to our shareholders. Our strategic approach focuses on reducing energy and water consumption in addition to innovative ways to manage waste.
green journey focuses on three areas key to our business:
- ENERGY — mitigating climate change and its impacts
- WASTE — minimizing the environmental impact of our products and processes
- WATER — managing water resources sustainably
For a comprehensive view of our contributions to a sustainable future, see here.
Also, by the end of 2015, Pfizer plans to announce targets that it believes have the potential to result in meaningful environmental improvement across our supply chain by the end of 2020.
Our Path to a Sustainable Future —
2020 Public Goals*
*Compared with Pfizer's 2012 baseline.
We have a strong record in reducing greenhouse gas (GHG) emissions. From 2000 to 2007, we reduced our GHG emissions by 20 percent. From 2007 to 2012, we reduced them an additional 25 percent. Our current goal is to reduce our GHG emissions by another 20 percent by 2020, from our 2012 baseline, which is consistent with the 60 to 80 percent reduction by 2050 that scientists indicate is necessary to stabilize global temperatures.
Pfizer is also an acknowledged leader in Green Chemistry, having made significant solvent and waste reductions, for more than a decade, by investing in safer chemistry pathways that result in greener processes.
In its 2013 rating, Carbon Disclosure Project (CDP) scored Pfizer 91 out of 100 for Climate Disclosure. Pfizer has participated in the CDP rankings since their inception, and this year's rating — our highest — places us among the top group of health care companies in both the S&P 500 and the Financial Times Global 500 listings. In 2012, Pfizer was also commended for incorporating sustainability information in commercial tender requests, and for implementing 116 energy efficiency projects yielding $3.6 million in annual savings, and reducing greenhouse gas emissions by more than 33,000 tons of CO2.
|Product Stewardship||Managing Environmental Risk|
Pfizer evaluates and manages risk throughout the product life-cycle. We have an active program to assess and address the issues associated with pharmaceuticals in the environment (PIE) and unused medicines. Although studies have indicated that only a small portion of medicines enter the environment through waste disposal (patient excretion accounts for a much larger share), we consider impact from all sources.
In addition to advancing the science associated with PIE, we encourage the safe disposal of unused medicines by
supporting existing guidelines such as those offered by the FDA (www.fda.gov) and participate in product take-back programs in locations that operate them. To aid U.S. hospitals, health care clinics and long-term care facilities, Pfizer, in collaboration with Waste Management, Inc., introduced an online guide listing disposal information for our products — a first in the industry found at Pfizer Responsible Disposal Advisor.
For more information on product stewardship, please see here.
EHS professionals at Pfizer support line management in the identification, management and mitigation of environmental risks and liabilities. Oversight of environmental compliance is governed by our Environment, Health and Safety Steering Team.
For more information on our environmental health and safety policy, programs and performance, please see www.pfizer.com/ehs.
and Supply Chain
To maintain the quality, safety and availability of Pfizer products requires sophisticated and complex manufacturing and distribution processes and systems. Consequently, Pfizer has built its capability and expertise to supply a wide range of medicines, from the simple to the technically complex therapies increasingly being deployed to combat some of the most devastating diseases afflicting humanity.
We take a holistic, multi-faceted approach to quality and compliance with programs that are among the best in the industry. We relentlessly challenge ourselves to further enhance our systems and processes, and are conducting numerous continuous improvement projects throughout our network.
Pfizer's global supply network encompasses our internal manufacturing sites and a network of external partners. External partners are selected based on their ability to reliably supply quality products at a competitive cost. Contracts with our key suppliers mandate rigorous controls and inspections to help assure quality and compliance throughout the entire supply chain.
We are taking advantage of technology to leverage expertise throughout the network as a cost-effective way to help ensure a consistent level of quality globally. For example, to supply Pfizer's pneumococcal vaccine Prevenar 13 to the children of Argentina, we are using a Pfizer-developed rapid deployment module based on our pre-engineered and tested module, from our Pearl River, New
York facility, to enable production at our local partner in Garin, Argentina, reducing the expected start up time by about 40 percent. While a few Pfizer colleagues remain on site in Garin, other Pfizer experts log in remotely and watch real time data acquisition, monitor the equipment's performance and assist in trouble-shooting.
& Logistics Center
Ensuring high-quality medicines and drugs requires vigilance and a strong quality culture. Product quality is everyone's responsibility at Pfizer. We work diligently to supply our products in full compliance with all applicable legal requirements everywhere we work and, just as importantly, to our own high standards worldwide.
We are equally diligent about making certain that our products transit from plant to patient in a safe, secure and compliant manner to ensure quality and patient safety. Transporting and distributing medicines require well-designed procedures that address the particular handling requirements for each product class, such as temperature control, controlled substance licensing and environmental management. Pfizer's harmonized global supply chain procedures, standards, logistics service
providers and supporting information management infrastructures help ensure products are delivered on time and in compliance with internal and regulatory requirements.
Our end-to-end supply chain is designed to align inventory and supply chain planning, transportation management, temperature control management, logistics and logistics security, environmental health and safety, dangerous goods compliance, global trade compliance and trade management. It also supports business continuity and proactive issue identification and resolution.
In Gartner's annual survey of the top 25 health care supply chains, Pfizer was the only company that rose in the rankings in 2013. Gartner cited Pfizer's focus on patients, and ability to meet increasingly complex and varying global demand
profiles. This trend has been driven by innovative, results-oriented work in such areas as cloud-based information management, platform operating structures, transportation control towers, supply planning and orchestration, and our Supply Model Transformation (SMT) program.
The SMT program is our approach to managing our supply chain more effectively by having greater visibility and control of the entire supply process, from sourcing raw materials to delivery of products to our customers and consumers around the world. Those are combined with a strong trade compliance program designed to ensure Pfizer operates as a secure and trusted import/export organization.
As an industry-recognized leader in supply chain security, Pfizer developed a dedicated security program that encompasses every part of the manufacturing and delivery process, starting with the procurement of raw materials and continuing through to the delivery of product to the point of dispensation to our customers.
As global pharmaceutical supply chains become increasingly complex, we see supply chain security as a growing and critical component of our commitment to patient safety and to the prevention of adulterated or counterfeited drugs entering the health care system. We have been open and active advocates for legislation designed to improve the security and safety of the global pharmaceutical supply chain.
At Pfizer, responsible supply chain management is central to our business model. We operate within a framework of principles aligned with ethical, social and environmental responsibilities to enhance the sustainability of our business and the communities in which we operate.
To that end, an Environmental Health and Safety (EHS) team performs risk-based reviews of chemical and biological product suppliers to ensure effective management of risk. We have made considerable progress over the years through these reviews, and now focus our site assessments on newer suppliers and on reducing the risk at a select number of suppliers who can most benefit from our expertise.
In addition, we participate in the industry-wide Pharmaceutical Supply Chain Initiative to advance EHS in the global supply chain. In China, we partner with the Institute of Sustainable Communities, an organization committed to advancing sustainability in developing countries through education and training. In October, Pfizer participated in events with delegates from China's Ministry of Industry and Information Technology (MIIT), including hosting the delegation at one of our U.S. facilities. The delegation was visiting the U.S. to gain better understanding of environment, health and safety systems, here so it could inform the development of guidelines for the expanding pharmaceutical industry in China.
For more information, click here.