General Overview - 

Pfizer India Ltd. is one of the best pharmaceutical companies in India. Further, it has
collaborated with the German biotechnology company BioNTech to bring Tozinnameran to
India, and the motto of the Company is to innovate every day to make the world a healthier
place. This Company has more than 200 generic versions of expensive medication, and it
circulates the same to over 80 countries around the globe.
In the past five years, the Company's share price has doubled and has shown significant
growth even during COVID-19.
The Company has shown significant growth in gross profit & revenue even facing the
COVID situation during 2021 and has increased above 40%. Pfizer India has made a
remarkable revenue of 749.17 Crore in the quarter ending on 30.06.2021, and a
comprehensive income of Rs. 200.06 Crore for the same period. With the innovations
coming to its ways the Company is looking forward to expending to the new market. The
Company is currently looking to build on the IT Infrastructure and spending more and more
on R&D to develop the latest products and will be looking forward to generating new
patents and gaining the lost market share.
As the covid situation may arise anytime with change in the virus variant, the Company may
play a vital role in combating the same. The Company is using all of its resources in a better
way. Shareholding pattern of the company 
The current share holding patternof the company is as under :-

Sl. No. Name of the Owner Percentage of shares Holding

1. Promoters 63.92%
2. Pledged Shares 0%
3. FII/FPI 1.89%
4. Fin. Insts./Banks 0.02%
5. Insurance Co. 4.65%
6. MF 8.42%
7. Other DIIs 6.08%
8. Other 15.03%
9. Total 100%

Management of the company –

Mr. R.A. Shah – Chairman.
Mr. R.A. Shah is a leading Solicitor and a Senior Partner of M/s. Crawford Bayley & Co., a
firm of Advocates & Solicitors. He specializes in a broad spectrum of corporate laws in
general, with special focus on Foreign Investments, Joint Ventures, Technology and License
Agreement, Intellectual Property Rights, Mergers and Acquisitions, Industrial Licensing, and
Anti Trust Laws, Company Law and Taxation. He is the Chairman/Director of various public
limited companies and Chairman/member of Audit Committees.
Mr. R.A. Shah was first appointed on the Board on November 9, 1965.

Mr. Pradip P. Shah – Director

Mr. Pradip Shah holds an MBA from the Harvard Business School. He is also a Chartered
Accountant and a Cost Accountant and ranked first in India in the Chartered Accountancy
Examination.
Mr. Pradip Shah is the ex-Managing Director of CRISIL, India’s first and the largest credit
rating agency. Prior to founding CRISIL, Mr. Pradip Shah assisted in founding the Housing
Development Finance Corporation (HDFC) in 1977. Mr. Shah has also served as a consultant
to USAID, the World Bank and the Asian Development Bank. Mr. Shah is a Director on the
Board of several reputed companies. He is also a member of various prestigious
committees/commissions. Mr. Pradip Shah is presently the Chairman of Indasia Fund
Advisors Pvt. Ltd. Mr. Pradip P. Shah was appointed to the Board on December 7, 1999.

Mr. Uday Khanna – Director

Mr. Uday Khanna is a Chartered Accountant. Mr. Khanna is the Chairman of Bata India
Limited. Mr. Khanna was the Managing Director & CEO of Lafarge India from July 2005 to
July 2011 and subsequently the Non-Executive Chairman till 24th September, 2014.
Mr. Khanna joined the Lafarge Group in Paris on June 1, 2003 as Senior Vice President for
Group Strategy, after a long experience of almost 30 years with Hindustan Lever Limited /
Unilever in a variety of financial, commercial and general management roles both nationally
and internationally. Mr. Khanna’s last position before joining Lafarge, was Senior Vice
President Finance, Unilever - Asia, based in Singapore. Mr. Khanna has earlier been on the
Board of Hindustan Lever Limited (Hindustan Unilever Limited) as Director - Exports.
Mr. Khanna has also worked as Vice Chairman of Lever Brothers in Nigeria and General
Auditor for Unilever-North America based in the USA. Mr. Khanna was the President of the
Indo-French Chamber of Commerce & Industry in 2008 and 2009 and is currently President
of the Bombay Chamber of Commerce & Industry and on the Managing Committee of the
Associated Chamber of Commerce & Industry. Mr. Khanna was appointed to the Board on
May 21, 2012.

Mr Samir Kazi - Executive Director

Mr. Samir Kazi is a passionate lawyer with over 20 years of rich experience in the field of
legal affairs. Mr. Kazi earned his Bachelor of Law degree from the University of Mumbai in
the year 1999. Mr. Kazi started his career with an illustrious law firm in Mumbai, Mulla &
Mulla & Craigie Blunt & Caroe, where he practiced law for over 7 years before taking up in-
house law practice. Thereafter, Mr. Kazi was a Legal advisor to the Hinduja Group India
Limited, before being associated with Pfizer Limited since 2007.
Mr. Kazi is part of the Leadership team at Pfizer India and is responsible for providing quality
legal advice on matters related to business operations, corporate laws, corporate &
statutory compliances, litigation strategies, enforcement of intellectual property rights,
mergers and acquisitions which include establishment of strategic alliances, partnerships
and relationships with internal and external clients.
Apart from his professional profile, Mr. Kazi also takes a keen interest in shaping careers of
law students and actively provides guidance and vocational trainings to enhance their
skillset and knowledge. Mr. Kazi was appointed to the Board on February 14, 2020.

Mr. S. Sridhar — Managing Director

Mr. S. Sridhar is leading Pfizer Inc’s commercial business in India. He has in his career
successfully steered many strategic projects, global brand launches, business restructuring
actions, Mergers & Acquisitions and Joint Ventures. A Chartered Accountant with three
decades of experience, Sridhar has successfully donned multiple hats in his career as Chief
Financial Officer, Business Unit/Supply Chain Head and the Managing Director of Pfizer India
business since March 2016. Sridhar is the President of Organisation of Pharmaceutical
Producers of India (an association of Research Based Organisations) and is also the Chair of
its Finance and Taxation Work Group. He is also the Former Chair of The Federation of
Indian Chambers of Commerce and Industry (FICCI) Pharma Committee. In this capacity, he
has effectively advocated for policies that are pro patient, encourage innovation and
provide for a positive environment for the industry to grow. Prior to joining Pfizer, Sridhar
spent 13 years with Diageo, the world’s largest alcoholic beverages company. He was the
Finance Director when he left Diageo India.

Mr. Sunil S. Lalbhai – Director

Mr. Sunil S. Lalbhai, holds MS degree in Chemistry from the University of Massachusetts and
MS degree in Economic Policy and Planning from Northeastern University. Mr. Lalbhai has
expertise and wide experience in the Management field. He is presently the Chairman and
Managing Director of Atul Limited, a diversified chemical company where he has been
working since 1983. Mr. Lalbhai was also on the Board of Wyeth Limited since 2002 till its
amalgamation with Pfizer Limited. Mr. Lalbhai was appointed to the Board on February 14,
2015.

Mr. Milind Patil – Executive Director

Mr. Milind Patil is a graduate of commerce and a fellow member of the Institute of
Chartered Accountants of India. Mr. Patil has also completed financial excellence program &
financial leadership program and advance leadership program from Harvard Business
School, USA and Tuck School of Management, USA respectively. Mr. Milind Patil joined
Pfizer Limited effective August 16, 2018 as the Chief Financial Officer. Mr. Milind Patil is a
finance professional with over two decades of experience predominantly in the
Pharmaceutical industry and having versatile exposure in global MNCs in challenging and
complex business environments across multiple finance and business functions. He has a
proven track record in business turnaround strategies and managing stakeholders, people,
performance and risks and opportunities effectively. Mr. Patil’s last employment was as
Chief Financial Officer for Middle East North Africa (MENA) region for Novartis based out of
Dubai. Mr. Milind Patil was awarded the “CA.CFO-healthcare sector award” by the Institute
of Chartered Accountants of India in February 2015. Mr. Milind Patil was appointed to the
Board on November 14, 2018.

Ms. Meena Ganesh – Director

Ms. Meena Ganesh is a PGDM holder from IIM Calcutta and has a graduate degree in
Physics from the Madras University. In 2011, she was conferred the ‘Distinguished Alumnus’
award by IIM Calcutta. Ms. Meena Ganesh is one of India’s foremost business leaders and
most successful entrepreneurs with nearly three decades of experience in industries
including healthcare, consulting, technology, outsourcing, education and e-commerce. Ms.
Meena Ganesh is the MD & CEO of Portea Medical, One of India’s largest and fastest
growing home healthcare companies, which she co-founded in July 2013. Ms. Meena
Ganesh was appointed to the Board on March 8, 2019.

SWOT Analysis of Pfizer India

Pfizer India
Strengths
1. Stocks where Mutual Funds Increased Holdings in Past Month
2. Consistent Highest Return Stocks over Five Years - Nifty500
3. Company with high TTM EPS Growth 413.9% returns for Nifty 500 over 5.4 years
4. Strong QoQ EPS Growth in recent results
5. Effectively using Shareholders fund - Return on equity (ROE) improving since last 2
year
6. Efficient in managing Assets to generate Profits - ROA improving since last 2 year
7. Growth in Net Profit with increasing Profit Margin (QoQ)
8. Company with Low Debt
9. Strong cash generating ability from core business - Improving Cash Flow from
operation for last 2 years
10. Company with Zero Promoter Pledge
11. FII / FPI or Institutions increasing their shareholding
12. Being a market leader, the company has gained market revenue of US$48.85 billion in the
year 2015 (Yazhini and Keerthi, 2018). Having strong position in the market, Pfizer has
gain huge popularity and developed, strong customer base, which has created major
threat on the competitors. It is holding the position as the largest pharmaceutical
company in US market.
 13. From the time of establishment, the company is serving the global health care sector that
has helped Pfizer to develop historical background in this industry.
14. Positive approach towards research and development initiatives has made the company
strong in this sector. Utilizing its strong knowledge base, It has become most reliable and
oldest pharmaceutical  organization in the global market.  the company has invested
7690 Million USD in the year 2015 for improving its research and development approach.

Pfizer India Weaknesses

1. Companies with growing costs YoY for long term projects
2. MFs decreased their shareholding last quarter 190% returns for over 6.4 years
3. Declining Net Cash Flow : Companies not able to generate net cash
4. Weak Momentum: Price below Short, Medium and Long Term Averages
5. Although Pfizer has made huge investment in terms of improving its research and
development approach, however, it is also true that compared to its competitors in global
market the company is still lagging behind in terms of investment in research and
development segment. Over the past few years the company has reduced its budget in
research and development and focusing more on marketing, which can bring long term
impact on its growth.
6. In order to expand its business Pfizer has made several acquisitions and merging
activities. Therefore, in this situation, failures from other companies associated with this
brand can indirectly impacts in its image in the market.

Pfizer India Opportunities

1. Companies with growing costs YoY for long term projects
2. MFs decreased their shareholding last quarter 190% returns for over 6.4 years
3. Declining Net Cash Flow : Companies not able to generate net cash
4. Weak Momentum: Price below Short, Medium and Long Term Averages
5. Especially in case of developing countries, due to growing economic situation, people
have become quite concern regarding their health situation. Therefore, in this situation, it
will be easier for Pfizer to address the need of developing countries.
6. Various opportunities in the market for strategic partnership has been brought in the
industry. By utilizing this opportunity in the market, the company can gain high
profitability.
7. Broader portfolio of the company has significantly contributed in generating
diversification in the market, which can indirectly help in gaining competitive advantage
(Yazhini and Keerthi, 2018).  

Pfizer IndiaThreats
1. Stocks with Expensive Valuations according to the Trendlyne Valuation Score
177.2% returns for Nifty 500 over 4.5 years
2. Stocks with high PE (PE > 40)
 3. Price war is an important issue faced by pharmaceutical organization like Pfizer. The
competitor organizations are creating huge threat on the brand with those competitive
pricing strategies. In this situation, maintaining the quality with minimal production cost
has become major threat for the brand.
4. Increasing competition in the pharmaceutical industry is creating growth challenge for
the brand.
5. Intensive legal framework in health care sector along with high government interference,
sometimes it becomes challenging for Pfizer to make the new innovation acceptable for
government regulatory board (Nielsen 2017).
6. Availability of cheap substitute products  in the market are creating major threat for the
company in terms of managing its competitive position in the market.
7. Over the last few years huge down turn in the developed countries have impacted on the
business growth of this brand.
Pfizer India Competitors
Below are the top 4 competitors of Pfizer India:
1. Sun pharma
Sun Pharmaceutical Industries Ltd. (Sun Pharma) is the fourth largest specialty generic
pharmaceutical company in the world with global revenues of over US$ 4.5 billion.
Supported by more than 40 manufacturing facilities, we provide high-quality, affordable
medicines, trusted by healthcare professionals and patients, to more than 100 countries
across the globe. As this company is aggressively marketing its product with the Dr.
Reddy’s Product, it is a very big challenger in the domestic as well as global market.
However, as the No. of patents are way more with the Dr. Reddy’s Lab, hence, in the
present scenario the company need not to give much thoughts on how they should
compete with the Sun pharma, but they need to spend more on R&D in order to gain
new patents and to maintain the sustainable competitive advantage in the field.
The Sun Pharma is aggressively making the generic products in the Indian market
and thus capturing the local market, the Dr. Reddy’s need to launch some of their
products in the Generic market, and this way, they will be able to get the market
penetration in the existing market of the Sun pharma, and the inventory costs will go
down and their profit will increase at a stable rate. The Current COVID Scenario has
given a boost to Dr. Reddy’s as their vaccine has given them a beneficial advantage
compared to the Sun Pharma and they should bank the profit earned through this
process to R&D, to work on the new Diabetes and Anti HIV drugs, as both these diseases
are growing at an exponentially rate. India is the diabetes capital of the world, and to
capture this market, one has to spend more on their R&D.
2. Dr Reddy’s Laboratories Ltd.: -
Dr Reddy's Laboratories Ltd. is one of the best pharmaceutical companies. Further, it has
collaborated with the Russian direct investment fund to bring Sputnik V to India, and the
motto of the Company is to provide affordable medicines to everyone. This Company has
more than 200 generic versions of expensive medication, and it circulates the same to over
80 countries in the world. In the past five years, the Company's share price has doubled and
has shown significant growth even during COVID-19.
The Company has maintained growth in gross profit & revenue even facing the
COVID situation during 2020 and 2021 and has shown an increase of above 8.6% & 9.6%,
respectively. The product Habitrol (Nicotine patch) of Dr Reddy's, is being sold with the help
of Amazon's Healthcare Isle. The Company has launched a Virtual Reality Training module to
train and prepare employees before joining the manufacturing floor. It clearly shows that
the Company is innovation-friendly and easy to adapt to the changes that the world may
throw at him.
Further, the following new products have been developed and marketed by this
Company which are:-
Sputnik V Vaccine, Remdesivir, 2-Deoxy-D-Glucose (2-DG).
Further, the Company has developed other medicines as well for rheumatoid arthritis and
other severe diseases. Hence, the prospect looks better.
ROADMAP AHEAD

Full FDA approval of Pfizer’s Covid-19 vaccine may ease the path to booster shots in
the U.S., a plan that’s received mixed reactions amid spiking infections from the
delta variant and global inequity in immunization access.

Sept. 20 is the day the Biden administration plans to open the doors for most
Americans to begin getting third doses of Covid-19 vaccines, pending sign-off from
the Food and Drug Administration and recommendations from the Centers for
Disease Control and Prevention. The plan has been on a bumpy road as policy
experts debate the need for a booster—the CDC has already pushed back by one
week a meeting of outside advisers on the issue.

The FDA’s action on Aug. 23 now makes it easier for the CDC to recommend a
booster because it would be endorsing an extra dose of a vaccine that’s already
approved, said Lawrence Gostin, director of the O’Neill Institute for National and
Global Health Law at Georgetown University.

The Pfizer vaccine’s former emergency use status meant that patients who had
gotten the jab were “signing a consent form saying it’s experimental,” making it “very
hard to offer a third dose to the entire U.S. population,” Gostin said.
“But if it’s fully licensed, we don’t call it experimental,” he said. “This is an entrée to
facilitate population-wide boosters this fall and winter.”

The vaccine’s approval marks a critical step in the U.S. immunization efforts. Health
policy experts expect it to assuage fears of those who are hesitant and encourage
more pubic and private organizations to mandate staff inoculations.

When it comes to boosters, the agency question “as always will be whether we have
good safety and efficacy data,” said Robin Feldman, a University of Hastings College
of Law professor focusing on health-care law. “The next question will be timing and
supply. How do we find the optimal balance between waning efficacy and sufficient
shots.”

Pfizer said it plans to seek FDA approval of a third-dose via a biologics license
application for people 16 and older.

The administration will likely want to move “quickly and decisively” to greenlight the
additional shot as the delta variant drives up infection rates among the population,
Feldman said. The U.S. has seen about 38 million confirmed cases of Covid-19 and
almost 630,000 deaths, according to the Bloomberg virus tracker.

Five Core Growth Areas

1. Intensify efforts in complex generics and develop dossiers for world markets given the
legacy strength in complex APIs.
2. As is the case with most established drug companies, Pfizer has had to deal with
the expiration of patents and the resulting loss of revenue to generic competition.
The company went through several years of loss of exclusivity (LOE) for important
drugs such as Viagra and Lipitor. And this summer Pfizer will lose exclusivity for
nerve pain treatment drug Lyrica, a source of $4.6 billion, or 8.6%, of the
company's revenue last year. Pfizer expects $2.6 billion of headwinds from LOE in
2019 and a decline in Lyrica sales to affect 2020 results as well. 
3. Pfizer has worked to strengthen and focus its research and development program,
beginning with its acquisition of Wyeth ten years ago. Since then the company has cut
back from working in 13 therapeutic areas to six, and in 2017 announced its "Up to 15 in
5" initiative, identifying 15 potential blockbusters among the drug candidates in its
pipeline that it believes it could launch by 2022.
4. In the next five years, Pfizer will grow faster by getting smaller. The company has
separated out its slower-growth businesses into separate units, and spinning them off
would increase Pfizer's growth rate and possibly the stock's valuation. Keep enhancing
the compliance processes at plants.
5. Pfizer pays a generous 3.5% dividend and has plenty of cash flow to allow it to continue
raising the payout each year. Last year the company had $15.8 billion in operating cash
flow and used $8.0 billion for paying the dividend and $12.2 billion in share repurchases.
Pfizer views the share repurchases as a way to keep earnings per share rising in a time of
stagnant top line growth without having to cut the research and development budget.

References:-
1. https://pfizerindia.com/eNewsWebsite/investor/bod.aspx
2. https://pfizerindia.com/eNewsWebsite/investor/pdf/composition%20of
%20committee%20of%20directors.pdf
3. Dr Reddys Labs Share Price, Dr Reddys Labs Stock Price, Dr Reddys Laboratories Ltd. Stock
Price, Share Price, Live BSE/NSE, Dr Reddys Laboratories Ltd. Bids Offers. Buy/Sell Dr Reddys
Laboratories Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes
(moneycontrol.com)
4. Sun Pharma mentions that it has no plans for producing vaccines and has bigger plans ahead
(indiashorts.com)
5. https://www.drreddys.com/