Pfizer Korea SWOT – W

One of Pfizer Korea’s major weakness is its large dependency on its Viagra sales. Viagra is the bread and butter of Pfizer Korea’s sales. Unfortunately, Pfizer Korea’s patent on its Viagra pill expired in 2012. Even before, Pfizer Korea’s once matchless status in the field of erectile dysfunctional pills started to be shaken by generic pills that were cheaper yet similarly effective. After the patent expiration, generic pills swept the market forcing Pfizer Korea to step down from the number one seller of Viagra Pills to Hanmi Pharmaceutical. Also, Pfizer Korea’s Viagra sales began to plummet forcing them to join hands with Seoul Pharmaceutical, a small scale pharmaceutical specializing in generic Viagra pills, and sell their generic pills with Pfizer Korea’s logo stamped on the box as an attempt to make up for decreasing sales. Besides Viagra, Pfizer Korea has multiple steady selling products such as Lipitor, Champix, and Prevana13. However, there are not any products that could match Viagra sales wise. That along with the current fluctuation of the Korean Viagra market, could potential weaken Pfizer Korea’s position.

Also, Pfizer Korea has a long history of bad blood with its labor union. Ever since its foundation in 1999, the Pfizer Korea Animal Health Department union has fought against oppression. In a mere few years, the entire members of the union were fired successively. In 2004, there were some movements to revive the labor union. Again, all but two employees were fired as an attempt to oppress the labor union. In 2009, the union joined the National Joint Labor Union and started holding more than a hundred periodical assemblies protesting against Pfizer Korea’s suppression over a span of one year. Even so, neither Pfizer Korea nor the union has managed to reach an agreement. No major outbreaks of dispute have happened sine 2010, but Pfizer Korea’s reluctance to hear the voice of its workers is quite noteworthy.

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