...period | 77 | 74 | 79 | 107 | 68 | Operating cycle | 120 | 116 | 124 | 197 | 101 | Less: Average payables payment period | 26 | 21 | 22 | 32 | 13 | Cash conversion cycle | 94 | 95 | 102 | 166 | 88 | Pfizer Inc., short-term (operating) activity ratios Ratio | Description | The company | Inventory turnover | An activity ratio calculated as revenue divided by inventory. | Pfizer Inc.'s inventory turnover improved from 2010 to 2011 but then slightly deteriorated from 2011 to 2012 not reaching 2010 level. | Receivables turnover | An activity ratio equal to revenue divided by receivables. | Pfizer Inc.'s receivables turnover improved from 2010 to 2011 but then slightly deteriorated from 2011 to 2012 not reaching 2010 level. | Payables turnover | An activity ratio calculated as revenue divided by payables. | Pfizer Inc.'s payables turnover increased from 2010 to 2011 but then declined significantly from 2011 to 2012. | Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Pfizer Inc.'s working capital turnover improved from 2010 to 2011 and from 2011 to 2012. | Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Pfizer Inc.'s average inventory processing period improved from 2010 to 2011 but then slightly deteriorated from...
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...ETHICAL CULTURAL ANALYSIS: Pfizer Incorporated Prepared by Benjamin Smith Submitted in partial fulfillment of Thomas Edison State College course: 2014AUG PHI-384-GS004: Ethics and the Business Professional. October 23, 2014 [pic] Introduction Pfizer is the second-largest biopharmaceutical company in the world, and largest research-based company in the world (Herper 2014). They are the producers of some of the most popular names in prescription drugs, including Lipitor®, Viagra®, Xanax®, and Zoloft®. They are also one of the leading names of over the counter drugs and supplements such as Advil®, Centrum®, and Robitussin®. Pfizer employs over 78,000 personnel all over the world in most every continent. Its operations encompass researching and development of new medications, vaccines, and therapies; government regulatory compliance; and providing care and support for global healthcare programs. My interest in Pfizer is that I plan on changing careers into the medical field as a physician or research scientist. As the leading research-based pharmaceutical company, I would aspire to work with neuroscientist Dr. Michael Ehlers and his team. This analysis will review Pfizer Incorporated as a responsible, ethical company by analyzing its mission statements, core values, published principles, and code of ethics, how these are reflected in their actions and which ethical concepts are displayed in these actions; how Pfizer prevents and responds to problematic...
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...Secretary of Defense Corporate Fellows Program FINAL REPORT PFIZER, INC. LTC David J. Clark, USA April 2003 USAWC CIVILIAN RESEARCH PROJECT Product Counterfeiting in China and One American Company’s Response A Case Study and research report on corporate activity relating to national security and strategy Prepared for the Director of the Secretary of Defense Corporate Fellowship Program by David J. Clark Lieutenant Colonel United States Army Secretary of Defense Corporate Fellow Dr. Clayton Chun Project Advisor The views expressed in this academic research paper are those of the author and do not necessarily reflect the official policy or position of the U.S. Government, the Department of Defense, or any of its agencies. It also does not reflect any policy or position of Pfizer Incorporated. U.S. Army War College Carlisle Barracks, Pennsylvania 17013 - This Page Intentionally Left Blank - ABSTRACT AUTHOR: Lieutenant Colonel David J. Clark TITLE: Product Counterfeiting in China and One American Company’s Response FORMAT: Civilian Research Project DATE: 4 April 2003 PAGES: 36 CLASSIFICATION: Unclassified When America, the world’s largest economy, interacts with China, the world’s most populated country, matters of strategic and global importance are inevitably raised. Using his fellowship position in a major U.S. corporation as a vantage point, the author describes the impact...
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...Dealing with Fraud Vianny Castillo David.Tataw, PhD, MPA, MMIS, FACHE Health Care Policy, Law, and Ethics (HAS 515) September 6, 2013 Introduction Fraud is defined as wrongful or criminal deception intended to result in financial or personal gain. The term is usually associated with financial institutions or perhaps other types of businesses, but it’s not a term that is automatically associated with the health care field. Or at least some of us didn’t think so. However, the sad truth is that health care fraud costs the country an estimated $80 billion a year. It is a rising threat, with national health care spending rising to $2.7 trillion and expenses continuing to outpace inflation. The saddest element of this situation is that recent cases have shown that medical professionals are more willing to risk patient harm in pursuit of successfully executing their schemes. Health Care fraud is in the jurisdiction of the FBI. They are the primary agency responsible for investigating these types of cases, and also for exposing them. They are responsible for the federal and private insurance programs. As the Chief Medical Officer of a large Obstetrics Health Care Center, I am sadden and extremely angry to learn that these types of fraudulent activities are associated with my facility. As I investigate and learn more about the situation, I will also be exploring other topics as listed below. 1. Evaluate how the Healthcare Qui Tam affects health care organizations...
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...Dealing with Fraud Joseph B. Amah Professor Dr. Wanda E. Allen HSA 515 Law and Health Care System Strayer University Delaware County Campus June 18, 2013 Abstract Fraudulent behaviors have deep rooted history in most American organizations, including medical institutions. There is no doubt, therefore, that one of several ways an administrator can succeed as a Chief Nursing Officer (in a facility wrecked by news of abject corruption and empirical fraudulent activities) is being knowledgeable about these historical facts and taking corrective actions. Necessarily, any report of dishonest behaviors such as the one relating to the subject of this paper, will be addressed by a more appropriate applications of provisions of the False Claim Act (as amended in 1986). Due to the inherent risk associated with reporting corrupt corporate behaviors, the FCA regulations entitle whistle blowers to an attractive percentage of funds retrieved as results of qui tam suits. Predicated on these statutory protections, this writer will examine and evaluate the effects of qui tam in the healthcare industry, devise procedures for admissions at medical facilities and subsequently recommend genuine corporate integrity programs with a view of abating or mitigating frauds in these institutions. In conclusion, a plan will be drawn up to protect patients’ information pursuant to applicable federal and state laws. Evaluate how the Healthcare...
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...CONSUMER HEALTH IN THE PHILIPPINES Euromonitor International May 2013 CONSUMER HEALTH IN THE PHILIPPINES Passport I LIST OF CONTENTS AND TABLES Executive Summary ..................................................................................................................... 1 Consumer Health Sees Moderate Growth in 2012 ................................................................... 1 Filipinos Evolve To Become More Health Conscious ............................................................... 1 United Laboratories Strengthens Its Foothold in the Market ..................................................... 1 Parapharmacies/drugstores Remains the Major Channel for Consumer Health ...................... 1 Consumer Health To See Positive Growth in Medium Term .................................................... 1 Key Trends and Developments .................................................................................................... 2 Generics Gains More Attention ................................................................................................. 2 Manufacturers Invest in New Product Formats ......................................................................... 3 Manufacturers’ Promotional Campaigns Strengthen Their Foothold ........................................ 4 New Product Variants Cater To Faster-paced Lifestyles .......................................................... 5 Social Media Nurtures Better Manufacturer/consumer...
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...Effects of FDI by MNCs in Developing Countries What are Multinational corporations? What motives do they have for foreign direct investment? This paper explores these questions and seeks to find explanations by exploring key economic theories. The impact of FDI on developing nations is discussed with analysis and evaluation of the positive and negative effects. The findings of this essay are that FDI is neither entirely good nor bad for a country. Instead its effects vary and depend on a number of factors. Whilst firms have different strategies and objectives, the aim is ultimately to gain profits. In some instances this comes at the detriment of the welfare in the host nations, but it can also have benefits for these developing countries. | Introduction Foreign direct investment (FDI) has played an important role in developing countries with these nations receiving an increasing share of world FDI inflows (see Fig.1 below). From 1985 to 1990, the FDI inflow into developing nations was 17.4% of the total global flow. This increased to 31-40% in the four years leading up to the financial crisis (Hill, 2014). FDI acts as a major contributor to capital formation in developing countries and can promote growth and sustainable development. However, there are many challenges that the host country can face when dealing with multinational corporations (MNCs). By looking at key issues and analysing empirical evidence, the positive and negative effects that foreign direct investment...
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...213-255_Trevino_08p4.qxd 6/21/06 5:18 PM Page 213 PA R T IV ETHICS AND THE ORGANIZATION 213 213-255_Trevino_08p4.qxd 6/21/06 5:18 PM Page 214 CHAPTER 8 ETHICAL PROBLEMS OF ORGANIZATIONS INTRODUCTION In the third quarter of 2002, the Brookings Institution, a Washington, D.C., think tank, estimated that the corporate scandals that began with the Enron debacle in late 2000 would cost the U.S. economy $35 billion. That is the equivalent of a $10 increase per barrel of oil.1 It is, in a word, staggering. And we may not have seen the end of it. Long before Enron’s collapse, a number of business ethicists and business professionals watched with concern as Wall Street analysts demanded increasingly strong corporate financial performance to support rising corporate stock prices. At the same time, the gargantuan compensation packages (including stock options) of the top executives running these companies became inextricably linked to their companies’ stock prices. In 1990, average CEO pay at major corporations was 107 times the pay of the average worker. By 2004, CEO pay had risen to 431 times the pay of the average employee. (If the pay of average workers in the United States had risen as fast as CEO pay, the lowest paid workers would be earning $23.03 an hour, not $5.15 an hour.)2 It was an “accident” waiting to happen, although everyone was making so much money in the market that no one wanted to admit that something could be fundamentally...
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...|Share Data: | | |Price (11/28/08): $34.15 |P/E (11/28/08): 14.9 | |Shares Outstanding: 1.137B |Forward P/E (2009): 8.85 | |Market Capitalization: 38.82B |EPS 2007: $3.67 | |Beta: 0.752 |EPS 2008 (E): $4.15 | |52 Week High: $57.52 |EPS 2009 (E): $3.86 | |52 Week Low: $28.62 | | [pic] Executive Summary As analysts we were called upon to enact our due diligence in dealing with the proposed purchase of Eli Lilly common stock. We performed various analyses, which included strategy analysis, fundamental analysis, valuation, and risk assessment. Our absolute valuation calculation shows that Eli Lilly is slightly undervalued however; our relative valuation calculation shows that Eli Lilly is fairly valued. We decided to use the...
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...Efficacy of Corporate Governance Contents 1. Definition of Corporate Governance 2. History of Corporate Governance – Pre and Post Liberalization 3. Objectives of Corporate Governance 4. Need of Corporate Governance 5. Framework of Corporate Governance 6. Principles of Corporate Governance in India and in the World 7. Merits and Demerits of Corporate Governance 8. Impact of Violation of Corporate Governance Laws 9. Case Study – a) Satyam b) Pfizer c) 3rd Company 10. Conclusion 11. Bibliography Definition "Corporate Governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The corporate governance framework is there to encourage the efficient use of resources and equally to require accountability for the stewardship of those resources. The aim is to align as nearly as possible the interests of individuals, corporations and society"-(Sir Adrian Cadbury in 'Global Corporate Governance Forum', World Bank, 2000) Corporate governance is the relationship between corporate managers, directors and the providers of equity, people and institutions who save and invest their capital to earn a return. It ensures that the board of directors is accountable for the pursuit of corporate objectives and that the corporation itself conforms to the law and regulations. - International Chamber of Commerce Corporate Governance deals with laws, procedures, practices and implicit rules that...
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...Cracks in the Pharmaceutical Supply Chain http://www.cio.com/article/print/16565 Print Article Close Window From: www.cio.com Cracks in the Pharmaceutical Supply Chain – Susannah Patton, CIO January 15, 2006 As an undercover agent with the Drug Enforcement Administration and the Food and Drug Administration, Aaron Graham saw firsthand how counterfeit drugs can slip into the pharmaceutical supply chain. Graham, now VP and chief security officer for Purdue Pharma, once posed as the manager of an "institutional pharmacy" selling drugs at a discount to secondary wholesalers who were then supposed to sell them to nursing homes. Soon after he began, his phone started ringing. Dozens of smaller pharmaceutical wholesale companies were calling, desperate to buy his drugs. These secondary or "gray market" wholesalers scour the country and the world for low-price drugs they can sell back to major wholesalers for a profit. In addition to trawling for institutional pharmacies, some secondary wholesalers have been known to purchase counterfeit drugs from criminal organizations in places such as China, Thailand or Colombia. Graham, who was part of a two-year FDA sting operation known as "operation gray pill," helped expose a system in which large and small wholesalers were taking advantage of multitiered pricing in the industry. Prescription drugs are sold at discounts to subsidized groups such as nursing homes and also exported at lower prices. Graham and his colleagues found...
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...CASE Procter & Gamble, Inc. Scope As Gwen Hearst looked at the year-end report, she was pleased to see that Scope held a 32 percent share of the Canadian mouthwash market for 1990. She had been concerned about the inroads that Plax, a prebrushing rinse, had made in the market. Since its introduction in 1988, Plax had gained a 10 percent share of the product category and posed a threat to Scope. As Brand Manager, Hearst planned, developed, and directed the total marketing effort for Scope, Procter & Gamble’s (P&G) brand in the mouthwash market. She was responsible for maximizing the market share, volume, and profitability of the brand. Until the entry of Plax, brands in the mouthwash market were positioned around two major benefits: fresh breath and killing germs. Plax was positioned around a new benefit—as a “plaque fighter”—and indications were that other brands, such as Listerine, were going to promote this benefit. The challenge for Hearst was to develop a strategy that would ensure the continued profitability of Scope in the face of these competitive threats. Her specific task was to prepare a marketing plan for P&G’s mouthwash business for the next three years. It was early February 1991, and she would be presenting the plan to senior management in March. ■ COMPANY BACKGROUND Based on a philosophy of providing products of superior quality and value that best fill the needs of consumers, Procter & Gamble is one of the most successful consumer goods companies in the world...
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...CASE Procter & Gamble, Inc. Scope As Gwen Hearst looked at the year-end report, she was pleased to see that Scope held a 32 percent share of the Canadian mouthwash market for 1990. She had been concerned about the inroads that Plax, a prebrushing rinse, had made in the market. Since its introduction in 1988, Plax had gained a 10 percent share of the product category and posed a threat to Scope. As brand manager, Hearst planned, developed, and directed the total marketing effort for Scope, Procter & Gamble's (P&G) brand in the mouthwash market. She was responsible for maximizing the market share, volume, and profitability of the brand. Until the entry of Plax, brands in the mouthwash market were positioned around two major benefits: fresh breath and killing germs. Plax was positioned around a new benefit-as a "plaque fighter"-and indications were that other brands, such as Listerine, were going to promote this benefit. The challenge for Hearst was to develop a strategy that would ensure the continued profitability of Scope in the face of these competitive threats. Her specific task was to prepare a marketing plan for P&G's mouthwash business for the next three years. It was early February 1991, and she would be presenting the plan to senior management in March. ■ COMPANY BACKGROUND Based on a philosophy of providing products of superior quality and value...
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...playing games is what happens. Someone comes along and they think they know something the rest of us are too dumb to know. They think they are special and that God bestowed upon them special powers to get away with something no one else has been able to get away with in the entire history of mankind. I am intrigued with the thought process behind the faces of these people who think they have what it takes to trick the rest of us. I can only think of a few words; hubris, vanity, ego, arrogance and delusional. I do not believe it is truly possible to ever get away with anything. No man has a good enough memory to be a successful liar. Given the corporate ethical breaches in recent times, I will assess whether or not I believe that the current business and regulatory environment is more conducive to ethical behavior. I will say up front that as I start this paper I do not believe anything has improved in America or in the world ethically speaking. I say this with confidence but not with pride. After all we are all human and we all have a sin nature. I do not care if a person tells me they do not believe in God or if they tell me they do believe in God. Research has proven conclusively that all of us cheat. We essentially weigh everything based upon...
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...MICHAEL E. PORTER The State of Connecticut: Strategy for Economic Development Introduction Connecticut had long been one of the most prosperous U.S. states. With a per capita income of $39,300 in 19991 compared with the U.S. average of $28,542,2 it had the highest standard of living of any state. However, Connecticut had been hit especially hard by the recession of the early 1990s, the worst since the 1930s. During the recession, Connecticut lost one out of every 10 jobs.3 Although the recession ended in 1992, the recovery in the early 1990s was anything but robust. High unemployment rates persisted in some urban areas, and the state’s poverty rate almost doubled, from a 1987–1989 average of 4.5% to 8.4% for the 1997–1999 period.4 Worried leaders initiated the state’s first serious effort to foster economic development in living memory. After several years of little progress, Governor John Rowland (elected in 1994) initiated a cluster-based economic development strategy in late 1995. By 1999, state government had been reorganized, new institutions created, and unprecedented public-private collaboration around competitiveness was taking place. In 2000, Governor Rowland was evaluating the state’s progress thus far and considering how to carry the strategy forward. Connecticut Profile Do No Connecticut, one of the 13 original U.S. colonies, adopted in 1639 the first constitution establishing representative government. Connecticut was the fifth state to approve...
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