Pfizer to Cease Manufacturing at its Seoul Plant
The global manufacturing optimization strategy which has been underway since 2000 aims at achieving operational efficiency, enhancing productivity and thereby providing better products and services to our customers and patients.
We would like to emphasize that ceasing manufacturing at Seoul Plant will not affect the quality, supply and distribution of our products and our commitment to continuous investment and innovation in Korea including R&D and human resources and development.
Since 1969, Pfizer Pharmaceuticals Korea Ltd. has contributed to the Korean healthcare industry and the national economic development. In fact, the R&D investment by Pfizer Pharmaceuticals Korea Ltd’s R&D was 2 billion won in 2002, but this number increased to 8 billion won in 2005, 4 times in just 3 years. It plans to invest more in R&D to grow to 19 billion won this year which is over twice from last year. Furthermore, the number of employees increased to 600 (as of April 2006) from 379 in 2000. It further plans to expand the opportunities for employment especially in high-value added positions.
Pfizer’s mission is to contribute to the health of patients and people by providing medical professionals with innovative new drugs and scientific information. On top of this, we believe it is equally important to fulfill our social duties as a responsible corporate citizen and we would like to take one step further to Pfizer Korea’s vision of being a true and trusted ally to the Korean community and good, sincere and socially-conscious corporate and private citizens.
I hope that all of you who have supported Pfizer Pharmaceuticals Korea Ltd. will continue to support us for our efforts to contribute more to the Korean society by practicing our corporate values and vision.
Thank you.
Pfizer Pharmaceuticals Korea Ltd.
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