Pfizer's CEO Discusses Q2 2011 Results - Earnings Call Transcript

[Anonymous]

http://seekingalpha.com/article/283...sses-q2-2011-results-earnings-call-transcript

 

[Anonymous]

Lot of good info there. Was a specific question as it relates to the sales force post loe. Olivier Branicourt says no changes to the ff. We are right sized post loe and will relaunch sales force in therapeutic areas. We will be promoting 10 products and are prepared for Oxceta in Q4 and Eliquis early next year. Now get to work douche bags!

 

[Anonymous]

Good news! No word of headcount reduction.

 

[Anonymous]

Pfizer results are a disaster and earnings only made by selling off the Animal Pfarm. 60% of revenue will be lost in LOE in 3 years.

 

[Anonymous]

Lot of good info there. Was a specific question as it relates to the sales force post loe. Olivier Branicourt says no changes to the ff. We are right sized post loe and will relaunch sales force in therapeutic areas. We will be promoting 10 products and are prepared for Oxceta in Q4 and Eliquis early next year. Now get to work douche bags!

but where will the $1B cost reduction come from by 2012? oh right, that's somebody else's problem

 

[Anonymous]

If we are truly "right-sized" then why all the "placement" meetings and no real assurance from our SD's that we will all still have jobs come mid-August?

 

[Anonymous]

If we are truly "right-sized" then why all the "placement" meetings and no real assurance from our SD's that we will all still have jobs come mid-August?

Right! IF all is right-sized w/the sales force--PC, Psych, IS, etc.--then why all the games currently going on?! We were told as recently as March that we were "right-sized" but nothing at all has been said for weeks now, despite our SD going down to Atlanta to see the upcoming deployment scheme, etc. Why have a majority of the reps living in fear about their jobs month after month?!! No one in upper mgt is stupid enough to think that is motivating...?

 

[Anonymous]

Ian Read
Field force changes. We have -- I may ask Olivier to expand on this, but we structured our field force in a way that we can make changes for the LOE in the coming, and the new products that are coming in, so I don't expect any material disruption to our field force over this period. And in fact, I think we have good morale in our field force right now. Olivier, do you want to add anything to that?

Olivier Brandicourt
So Pfizer field force organization in the U.S. is now appropriately sized to support the broader Primary Care portfolio over the coming years. We have 10 assets being promoted next year and afterwards, hopefully, including Eliquis. So the attention of our representative assigned to detail Lipitor today would shift to other assets at the appropriate time.

So why the secrecy? Just tell us!!!

 

[Anonymous]

Just a thought. What if there is no there, there. Word is they are placing us today and tomorrow. Should be done by this Friday. DBMs look at it first of the week to make sure right people placed in right area. If you are in A, we did this last summer when we went from 5 products down to 3. There were a few changes based on relationships and they made based on the DBM and rep input.

 

[Anonymous]

I don't trust Pfizer at all. Let me be upfront & say I am legacy King, so naturally I feel like a second class colleague to begin with. But I listened to the Executive Town Hall broadcast today and these guys haven't got a clue. One of the questions to Ian was what his impression of the Wyeth integration was & he said it was the best in the company's history and that the legacy Wyeth colleagues are fully engaged and feel like they are part of the Pfizer family---- are you blind, deaf & dumb!!!! Then another question came in from Pearl river asking how you keep colleagues engaged when they are concerned about their jobs in this cost cutting phase & his response was "don't think of this negatively as if it is cost cutting, see it from the perspective of making the company efficient"....... wow, he's so far out of touch from the common man.... me thinks the emperor whereth no clothes

 

[Anonymous]

It is all about the numbers with Ian. He is a former accountant and could care less about people or their lives. You are simply a matter of cost with him. He is a cold calculating man.

 

[Anonymous]

Then I hope he gets a cold & dies.

 

[Anonymous]

Ian Read
Field force changes. We have -- I may ask Olivier to expand on this, but we structured our field force in a way that we can make changes for the LOE in the coming, and the new products that are coming in, so I don't expect any material disruption to our field force over this period. And in fact, I think we have good morale in our field force right now. Olivier, do you want to add anything to that?

Olivier Brandicourt
So Pfizer field force organization in the U.S. is now appropriately sized to support the broader Primary Care portfolio over the coming years. We have 10 assets being promoted next year and afterwards, hopefully, including Eliquis. So the attention of our representative assigned to detail Lipitor today would shift to other assets at the appropriate time.

So why the secrecy? Just tell us!!!

That is the most vague, suspicious answer i have ever heard. Everyone should be worried AND of course he is NOT going to announce lay offs on an earnings call numbnuts!