Ethics

We are committed to upholding the highest ethical standards in every aspect of our business. We systematically scrutinize our internal practices and have implemented procedures for taking immediate action when we identify potential violations.

We also offer an Open Door Policy and anti-retaliation protections to ensure that all Pfizer colleagues have a safe mechanism for reporting potential violations or concerns. Our training programs and new organizational structures have been developed to go beyond compliance to help ensure the highest standards of ethical behavior throughout the company.

Compliance

Pfizer's Compliance Program, established under the direction of Pfizer's Board of Directors, supports Pfizer's unyielding commitment to high standards of legal and ethical conduct. Strong ethical performance is a key value at Pfizer, enabling us to achieve our mission, and minimizing the potential negative business and reputational impact of noncompliance. The Chief Compliance Officer (CCO), who is a member of the Executive Leadership Team and reports to the CEO, and staff provide oversight and guidance to help ensure compliance with applicable laws, regulations and company policies. In addition, we have a robust internal audit group, reporting on a separate line to the Chief Financial Officer, and having a direct reporting relationship with the Audit Committee of the Board. Both the CCO and the head of Internal Audit have wide remits to investigate any and all compliance issues. As part of our commitment to continuous improvement, we regularly review our compliance program to ensure that it remains best in class.

Colleagues worldwide are trained and tested on Pfizer's Code of Business Conduct, known as the "Blue Book," which explains Pfizer's commitment to maintaining high standards and performing with integrity. Pfizer has also made considerable investments to prevent bribery and corruption. Our International Anti-Bribery and Anti-Corruption Corporate Procedure, which is designed to prevent and detect violations of the U.S Foreign Corrupt Practices Act and its foreign law counterparts, requires the adoption of local procedures and training of appropriate colleagues. We also have established reporting mechanisms which include a compliance helpline available in 70 languages and Web reporting tools, where available, which allow colleagues around the world to raise concerns and seek guidance. Where permitted by law, suspected compliance issues may be reported anonymously. These efforts support our expansion globally and help make certain that our business is conducted consistently and ethically around the world.

2010 Highlights

  • 2010 marked the launch of our signature compliance campaign, "It's Mine," which reinforces the importance of each and every colleague taking accountability for performing with integrity.

  • In September, as part of "It's Mine," a Business Leaders' Compliance Forum was held in New York for approximately 350 of the Company's most senior leaders.

  • We were recognized by Ethisphere as a Verified Compliance Leader, based on a thorough review of Pfizer's compliance systems and commitment to ethics and integrity.

  • The 2010 Integrity Training Program for colleagues worldwide consisted of over 40 distinct training campaigns, delivered using innovative and interactive online learning tools and complemented by live training.