IIPM PUBLICATION
For Hank McKinnell, whose greatest
passions have been race tracks (participated in four mini-triathlons in Greenwich) and handling the reins of Pfizer, the world’s largest research-based pharmaceutical company, this was definitely not a finish he would have ever wanted. Pfizer’s board, on July 28, paved the way for Jeffrey Kindler, a top lawyer credited for providing still water to the rocky Pfizer boat by bringing a major legal victory (the patent protection case vs Indian firm Ranbaxy for blockbuster drug ‘Lipitor’ in December, 2005), to take over as the new CEO. And for McKinnell, it was a premature exit, as he was supposed to stay on as CEO till February 2008. However, he remains Chairman till February 2007.
McKinnell, 63, a Stanford Graduate joined Pfizer in 1971 and won a reputation of a ‘dealmaker’ after he helped Pfizer acquire Warner-Lambert & Pharmacia to make Pfizer the industry leader. Aft er three decades of wearing various hats at Pfizer, McKinnell became the CEO in 2001 – with a vision to push Pfizer to even greater heights. But McKinnell faced several daunting challenges – the first being pricing issues in the pharma industry and second, which continues to hit Pfizer, patent expirations for several blockbuster drugs.
For Complete IIPM Article, Click here
Source : IIPM Editorial, 2006, Editor - Prof. Arindam Chaudhuri
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For Hank McKinnell, whose greatest
passions have been race tracks (participated in four mini-triathlons in Greenwich) and handling the reins of Pfizer, the world’s largest research-based pharmaceutical company, this was definitely not a finish he would have ever wanted. Pfizer’s board, on July 28, paved the way for Jeffrey Kindler, a top lawyer credited for providing still water to the rocky Pfizer boat by bringing a major legal victory (the patent protection case vs Indian firm Ranbaxy for blockbuster drug ‘Lipitor’ in December, 2005), to take over as the new CEO. And for McKinnell, it was a premature exit, as he was supposed to stay on as CEO till February 2008. However, he remains Chairman till February 2007.McKinnell, 63, a Stanford Graduate joined Pfizer in 1971 and won a reputation of a ‘dealmaker’ after he helped Pfizer acquire Warner-Lambert & Pharmacia to make Pfizer the industry leader. Aft er three decades of wearing various hats at Pfizer, McKinnell became the CEO in 2001 – with a vision to push Pfizer to even greater heights. But McKinnell faced several daunting challenges – the first being pricing issues in the pharma industry and second, which continues to hit Pfizer, patent expirations for several blockbuster drugs.
For Complete IIPM Article, Click here
Source : IIPM Editorial, 2006, Editor - Prof. Arindam Chaudhuri
For More IIPM Info, Visit below....
http://iipmmemory.blog.co.uk/
http://iipminterests.blog.co.uk/
http://iipm-brightness.blog.co.uk/
http://iipm-mission.blog.co.uk/
http://iipm-process.blog.co.uk/
http://iipm-express.blog.co.uk/
http://iipm-power.blog.co.uk/
http://iipm-blog.blog.co.uk/
http://iipm-amazing.blog.co.uk/
http://iipm_media.rediffblogs.com/
http://iipmnational.rediffblogs.com/
http://iipmmarvelous.rediffblogs.com/
http://rupiah.rediffblogs.com/
http://iipmcurrency.rediffblogs.com/
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