As with any operation, there are priorities. And so while Pfizer has decided to save $1.5 billion by eliminating certain R&D functions by closing a few sites and slashing up to 3,500 jobs, money is still being spent elsewhere. The latest example involves the purchase of three AW-139 helicopters, which can be had for $13 million to $15 milllion each if 'pre-owned' (seehere and here).
We asked a Pfizer spokesman how much is being paid for a new set of whirlybirds, but have not received a reply. In explaining the purchase, Pfizer maintenance director Brad Cohen says "we have offices and R&D centres around the world, so the mobility of our people is of critical importance...the reliability of our corporate helicopter fleet is extremely important to us" (here is the statement and here is a brochure).
As it should be. Like hard-charging personnel at any company, Pfizer execs and managers sometimes need to get somewhere in a hurry, and motors and rotors are expected to function properly. Now, the Pfizer team can get to the next investor conference or negotiations for a promising compound that much more efficiently. And, of course, they can also more easily visit the next facility that may be closed.
15 Comments
capitalism = investment
If their choppers are more productive than their scientists: So what?
Amazing but I guess Pfizer executives can't be late to a meeting with Wall Street !
Three of em, huh? Back in the day I was with Pfizer, they only had two plus the corporate jet
My understanding is that these are actually surplus Viet Nam era HUEY evacuation helicopters that will be used to airlift the thousands of employees that will be laid off this year after Lipitor goes generic. Employees will be instructed to leave their cars in the company parking lot with the keys under the dashboard. After their exit interview they will quickly be corralled and loaded into the copters. This process will alleviate the necessity of having to individually escort them out of the building. Ian Read will be the tail gunner to ward off any disgruntled employees left behind that might be thinking of retribution or carrying shoulder-mounted rocket launchers. They will be dropped at the nearest heliport and given a one-way Greyhound bus ticket or cab fare to get home.
The worst is how badly they are treating those that are being fired ... crap severance package ... That is how Pfizer rewards loyalty!! Well done!
I wish I could give "industry insider" a "thumbs up" on his comment.
God bless those poor pfizer scientists. They cant imagine what they have coming.
I always heard that Americans paid more for their drugs because the money is needed for reseach and development of new drugs. Just recently Obama met with industry leaders saying we must be more invovated and produce new products and services in order to produce more jobs. What a farce. Apple produced the iPhone and iPad and they are made in China. Abbott has Tricor and on a recent label the drug originated in Spain, then went to County Cork, Ireland and then to USA. Over 4400 miles of fossel fuel used. Corporate greed and charlatan marketing.
Shouldn't that last line read.
"And, of course, they can also more easily [escape from] the next facility that may be closed. "
Zz
Recall that last year, competitor Merck (after the Schering-Plough bust up), installed a new heli-pad -- on the roof of an empty parking garage at Kenilworth (the form Schering-Plough HQ), so that CEO Clark could more quickly hop away from the then-pending layoff announcement meetings. . . .
Merck also bought a newer, faster chopper, or two, for these hops, as well.
My take? Pfizer is just keeping up with the Joneses, here.
Namaste
In today's world with all the electronic media at a corporation's disposal, I really struggle with the idea that Pfizer execs (or any other pharma co) need to be "airlifted" into a meeting.
Executive self worth and security concerns are overblown, big time. Virtually all executives could travel commercial, no one would recognize them, and do work on their laptop or a legal pad.
They perpetuate these myths to have fancy perqs.
The Mongol hoards under Genghis Kahn took over most of the known world using horses, and that was war, not business. You would think pharma has 50 new products to analyze every week.
The classic false sense of urgency.
Merck just put in two new helipads. Maybe they're having Pfizer over for dinner?
Sam mentioned Tricor, the heavily flogged fenofibrate that, in the FIELD trial, ended with more dead patients than on placebo. Remember what happened with clofibrate .... It was quietly dropped, my guess by chopper, into a deep abyss of some ocean. Bye fibrates!
If only pharma would save people [Lipitor never has in ANY clinical trial] they'd deserve their helicopter lunches.
Loyalty!?! What loyalty - any one of those employees getting laid off would have walked away for more money at any point.
hey - how about kinder gentler kindler's name being bandied about as the next secy of commerce in the pbo administration
personally, i think he should go back to flippin burg at mickey d's
Well, I suppose that with so many jobs to be chopped, it's inevitable that more choppers will be needed...
(sorry, but it had to be said!)