Founded in 1868, Pfizer continues to make incredible breakthroughs by constantly adapting to the unexpected challenges, bringing essential innovations, and producing effective drugs. By utilizing AI and digital strategies, Pfizer rendered the production of its vaccines as early as possible. While the pharmaceutical company had its fair share of ups and downs over the decades, Pfizer has managed to emerge out of every challenge to pursue its main objective of manufacturing drugs and changing patients’ lives.
Pfizer owes its success to technology. Currently, Pfizer seems to make the best use of digital innovations to further the production of medicines, especially after bringing digital transformations to its company. A chronological analysis of Pfizer shows that it has always been quick in employing the best technology available to advance innovations to accomplish their main objective of serving the patients.
Digital Transformations
The firm claims that because they had embarked on the journey of digital transition, they were able to produce effective vaccine in collaboration with BioNTech when COVID-19 was at peak. Like every successful firm, Pfizer maintained its standing by foreseeing challenges and then employing the best technology to cope with them. Because the business was well-equipped with digital tools, Pfizer was able to take instant decisions when it became dire. For instance, in the early 2020, 80% of the workforce was urged to work remotely so as to keep them safe, while medicines were manufactured. Lidia Fonseca, Chief Digital and Technology Officer, says that Pfizer was not accidentally successful in achieving the biggest mission in healthcare. In fact, their preparedness beforehand assisted them in preparing, manufacturing, providing, and shipping vaccines with 95% efficacy rate for the UK variant.
Digital innovations
Pfizer employed AI-powered technology and digital innovations to manufacture vaccine. The clinical trial of 46,000 participants residing at 150 sites in six different countries was carried out in just four months. The large amount of generated data was then analysed and checked with the assistance of machine learning tools. AI also helped in remote site monitoring. Previously done in-person, the source documentation from the clinical trial sites were shared with site monitors. A big chunk of site monitoring visits was done remotely which was crucial to vaccine study. Likewise, digital and AI were a big assistance in the shipment of vaccine as well.
The drug giant’s success story
Throughout history, Pfizer has been the pioneer of bringing innovations and offering something great. In the past, Pfizer became the largest firm to mass-produce penicillin, also known as the miracle drug. Pfizer has not been successful by luck because the pharma giant has also seen some unprecedented flops in its journey. In 2006, Pfizer’s medicine, torcetrapib, was hoping to make it big, but to everyone’s surprise, including doctors and analysts, it started showing fatal side effects. However, everyone, especially the executives, saw something entirely unexpected. Today, one thing is clear: the drug behemoth dealt with the setback efficiently.
Pfizer’s objectives and ambitions
On 25th May 2022, the CEO of Pfizer, Albert Bourla, said in an interview with Sky News that Pfizer now has the tools to fight off other variants because they are constantly on the lookout. Bourla is hopeful that COVID-19 will no longer remain as potent as to restrict our lives. When asked about the emergence of Monkey Pox, the executive said, “like everyone, we were alerted but I am not that worried right now. That doesn’t mean we just relax, we are watching and monitoring very carefully.
The CEO also announced a commendable initiative of providing ‘the patent-protected medicines to the low-income countries.” Medicines produced now, and the future medicines are all included in the accord.
Pfizer is very clear when it comes to its ambition: to readily provide medicines to anyone who needs it. In 2019, the company set its goal of reducing the prices by half for the people who could not afford Pfizer’s medicines by 2023. By the announcement of aid to low-income countries, the goal has been met. In 2021, according to the annual report of Pfizer, its medicines and vaccines reached a total of 1.4 billion people around the globe. By 2025, the pharma giant intends to deliver 25 breakthrough drugs.
Takeaway
After examining the digital strategies, proactivity seems to be at the core of Pfizer’s success. Being one step ahead of present innovations actually wins Pfizer the desired results. After making its mark in the history of healthcare, Pfizer continues to seek new challenges to make their medicines accessible to everyone. Although Pfizer has made some really big commitments, we hope that the behemoth achieves them.
