Established Products unlocks the substantial value in medicines that either have lost exclusivity or are on the verge of doing so. Through this unit, Pfizer brings its reputation for quality and supply reliability to the challenge of providing medicines to patients who have limited, often substandard options in their local markets. Established Products is taking a previously shrinking segment of Pfizer's business and transforming it into an engine of growth through creative product enhancements, the licensing of additional products, and the promotion of Pfizer quality and customer care.
The market for medicines that have lost patent exclusivity is big and growing, with many companies, big and small, participating in it. Like other markets valued in the hundreds of billions of dollars, it's also very complex and rewards companies that fully understand what the customer needs. The market for established products is very different in the U.S., for example, than it is in Canada or Central Europe. However, there are two things all of our customers have in common: they want quality and supply reliability.
Our task in Established Products is to serve the many patients who today have access only to suboptimal medicines. We're special in our ability to broaden our portfolio with new medicines, enhance our current medications, provide services that add value, and reduce costs while sustaining the quality and safety that is embodied in the Pfizer name.
We realize also that there is no "one size fits all" approach here. It is rather a "think globally, act locally" approach. Globally, we continue to add to our portfolio of off-patent pharmaceuticals and extend our reach in marketing and distribution. Locally, we provide a distinctive experience for customers, offering services and support that are beyond the reach of smaller companies, at prices our customers can afford.
I feel very proud to be part of an effort that puts high-quality medicines within reach of millions of patients and thousands of health care providers around the world and, at the same time, contributes to the company's growth. It is a powerful, inspiring combination.
