Responsibility Is Integral to Success
Corporate responsibility is fundamental to Pfizer's business and our ability to achieve our mission and purpose. To ensure that responsibility is part of how we do business every day, most of Pfizer's corporate responsibility issues are managed within our businesses. Pfizer's corporate responsibility efforts are coordinated globally by a team that is part of Policy, External Affairs and Communications, whose leader reports directly to the CEO. This team focuses on guiding overall strategy and goal setting, ensuring clear communications, and engaging with key internal and external stakeholders. In 2009 we made two significant moves to strengthen our efforts. We established a new Global Corporate Responsibility Colleague Network to connect and align all Pfizer colleagues who have corporate-responsibility-related roles around the world. We also strengthened oversight by instituting twice-yearly updates to Pfizer's Board of Directors' Corporate Governance Committee on progress toward corporate responsibility goals and emerging issues potentially affecting Pfizer's reputation and our ability to meet our business objectives.
Pfizer adheres to internationally acknowledged voluntary reporting standards and principles including the Global Reporting Initiative (GRI) G3 Guidelines and the United Nations Global Compact. For a complete GRI index, please visit www.pfizer.com/responsibility/cr_report/gri.jspFor our 2009 Corporate Responsibility Report please visit www.pfizer.com/crreport
Executive Compensation—"Say on Pay"
Executive compensation has become a principal topic of discussion for many stakeholders. Giving shareholders a "say on pay"—a nonbinding, advisory vote on executive compensation—has been widely debated in the business and investment communities as well as in government. At Pfizer's 2009 Annual Meeting shareholders approved a nonbinding proposal asking the Board of Directors to give shareholders a "say on pay" vote. Following discussions with shareholders, the Board determined that a biennial advisory vote will facilitate our shareholder outreach activities and provide another way to receive input on compensation policies and practices. At the same time, such a vote will foster a more long-term approach to evaluating our executive compensation policies and practices.
Responding to Disasters
When disasters strike, Pfizer and our colleagues respond immediately. Less than 48 hours after Haiti's devastating earthquake, Pfizer pledged over $1 million in medicines, as well as an additional monetary donation to international relief organizations. That number has since been increased to over $4 million in medicines, over-the-counter products and cash contributions. In addition, the Pfizer Foundation's Matching Gifts program matches financial contributions made by U.S.- and Puerto Rico-based colleagues and retirees to 501(c)(3) organizations in the U.S. and Puerto Rico.
Similarly, when Taiwan's worst typhoon in 50 years devastated the island, when two super typhoons hit the Philippines two weeks apart engulfing Manila in floodwaters as high as seven feet, and when earthquakes struck Chile, Indonesia and Italy, Pfizer and our colleagues responded with significant donations of time, medical supplies and cash to help with rescue efforts and rehabilitation work.
Helping People Get Their Medicines in a Difficult Economic Climate
For decades, Pfizer has been committed to making our medicines accessible to uninsured and underinsured Americans. In 2004 Pfizer created Pfizer Helpful Answers so that with just one phone call to a toll-free number or a visit to one Web site, patients could be directed to the Pfizer program that might best meet their needs. Today, Pfizer Helpful Answers is the largest and most extensive suite of patient assistance programs in our industry. In the last five years alone, Pfizer Helpful Answers and the Wyeth patient assistance programs combined helped nearly 6 million uninsured or underinsured patients get access to more than 48 million prescriptions, with a value of more than $5.7 billion at wholesale cost.
Pfizer continues to evolve its assistance programs to meet the changing needs of patients. Last year, for example, Pfizer Helpful Answers launched the MAINTAIN program, designed to help eligible people in the U.S. who have lost their jobs and health insurance to continue to get their Pfizer primary care medicines for free for up to one year or until they become insured again, whichever comes first. The idea for MAINTAIN came from a Pfizer executive in our Asia business, and went from suggestion to launch in seven weeks. Originally designed to last one year, MAINTAIN was extended a second year, through 2010, and Wyeth primary care medicines are being included in the program.