As drug patents expire, the pharmaceutical giant is investing in technology and emerging markets while cutting back on R&D and labor. 2007Chuck Williams leaves after serving for six years as Pfizer’s first CTO/CIO. He’s replaced by Walt Hauck, who had been at Pfizer since 1995. 2008Pfizer creates emerging markets business unit Pilots the eCard patient loyalty card in the Philippines SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe CIO Hauck leaves, replaced by interim CIO Rich Nossek. 2009Pfizer starts development of CUE, a cloud-based CRM application for sales agents marketing pharmaceuticals to physicians (October) Pfizer acquires Wyeth for $68 billion, spending another $569 million on integration. Jeff Keisling, former Wyeth CIO, is appointed Pfizer CIO, replacing Nossek. 2010Pfizer spends another $1 billion on Wyeth integration, completing 500 projects. Achieves $2 billion in cost reductions. R&D spending is $9.4 billion (December) CEO Jeff Kindler resigns under pressure from the board as other senior executives reportedly agitate for change at the top Ian Read, former head of Pfizer’s worldwide biopharmaceutical business, takes over and continues cost-cutting plans already in progress Workforce totals 110,600, down 10,100 from the October 2009 completion of the Wyeth acquisition 2011Pfizer plans to reduce R&D spending by between $1.1 billion and $1.4 billion, to between $8 billion and $8.5 billion (November) Lipitor patent expires 2012Pfizer plans to cut $4 billion to $5 billion in costs by the end of the year. This includes another $1.5 billion to $2 billion from R&D, cutting that budget to $6.5 billion to $7 billion. 2019Viagra patent expires Follow Senior Editor Kim S. Nash on Twitter: @knash99. Related content news CIO Announces the CIO 100 UK and shares Industry Recognition Awards in flagship evening celebrations By Romy Tuin Sep 28, 2023 4 mins CIO 100 IDG Events Events feature 12 ‘best practices’ IT should avoid at all costs From telling everyone they’re your customer to establishing SLAs, to stamping out ‘shadow IT,’ these ‘industry best practices’ are sure to sink your chances of IT success. By Bob Lewis Sep 28, 2023 9 mins CIO IT Strategy Careers interview Qualcomm’s Cisco Sanchez on structuring IT for business growth The SVP and CIO takes a business model first approach to establishing an IT strategy capable of fueling Qualcomm’s ambitious growth agenda. By Dan Roberts Sep 28, 2023 13 mins IT Strategy IT Leadership feature Gen AI success starts with an effective pilot strategy To harness the promise of generative AI, IT leaders must develop processes for identifying use cases, educate employees, and get the tech (safely) into their hands. By Bob Violino Sep 27, 2023 10 mins Generative AI Innovation Emerging Technology Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe