Pfizer OTCs
This article was originally published in The Tan Sheet
Executive Summary
Pfizer Consumer Healthcare "has eliminated select contract sales forces in North America [and] reduced its advertising-agency expenditures through lowered fee structures and ongoing agency consolidation around the world on certain small and/or low-growth brands," the firm reports during third-quarter earnings announcement Oct. 20. Such efforts will lead to "increased value by better leveraging research across the business," Pfizer adds. Consumer division sales were $921 mil. worldwide, an 8% increase over sales of $851 mil. during the prior-year period. U.S. sales for the division were up 9% to $493 mil., compared to $453 mil. last year. Sales for the entire firm totaled $12.2 bil., a 5% increase over 2004...