Under the corporate slogan of “breakthroughs that change patients' lives,” Pfizer Korea has tried hard to help create a healthy society by conducting activities centered on patients’ health and happiness, the company's top manager said.

Pfizer Korea General Manager Oh Dong-wook explains his company’s goals during a news conference celebrating its 50th anniversary at Lotte Hotel Seoul, on Wednesday.

"Innovation is often accepted in the sense of innovative new medicine," Pfizer Korea General Manager Oh Dong-wook told a news conference to celebrate his company’s 50th anniversary on Wednesday. "However, it doesn't just mean research and development of new drugs but all big and small innovations that contribute to the lives of patients."

Pfizer's innovation is to change the lives of patients, which is not limited to scientific and medical aspects but encompassing all business areas, he added.

Pfizer Korea plans to draw out the potential of its employees and focus on the market introduction, including the development of innovative new drugs, CEO Oh emphasized.

“We also plan to come up with new strategies to lead the digital competition in the pharmaceutical industry and lead social discussions,” he added.

Oh also addressed concerns surrounding the establishment of Pfizer Upjohn Korea. In May, Pfizer Korea was divided into two companies – Pfizer Korea Biopharmaceuticals and Pfizer Korea Upjohn.

According to the top manager, Pfizer Korea Biopharmaceuticals plans to develop a variety of pipelines, providing innovative treatments to patients in six divisions – internal disease, inflammatory and immune disorders, rare diseases, vaccines, anticancer drugs and hospitals -- while Pfizer Korea Upjohn will concentrate on the company's off-patent drug business.

Some industry watchers said they expect that the annual sales of Pfizer will be cut by almost half, while others expressed concerns that the separation will hamper R&D activities in Korea as the ratio of R&D costs to sales will inevitably increase.

Oh brushed aside such concerns, however, emphasizing that Pfizer values drug development more than anything else.

"Pfizer's investment in developing innovative new drugs may or may not increase, but we are certain that it will not decrease," he said.

During the event, Song Chan-woo, executive director of Pfizer's Asia cluster anticancer business division, stressed the efforts of Pfizer employees to make patients' lives better.

"Even if the drug is approved quickly, it is useless if it is not supplied," Song said. "Pfizer shortened the delivery period if there was a high unmet medical need for patients, such as Ibrance, was needed."

In the case of Prevenar13, Pfizer collaborated with the government to ensure rapid supply, he said, adding that the company will continue to understand the unmet needs of patients better.

"We will obtain such information through various platforms and opportunities in the future," Song said. "Even after the drug is commercialized, we will collaborate with the health authorities here to identify any risks and strengthen access to new drugs for patients."

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