Pfizer participates in public policy issues that affect our ability to meet patient needs and enhance shareholder value. We have extensive knowledge about health care and ways to improve its efficiency, as well as a global perspective on public health, disease prevention and health education. We are committed to working with policy makers to help create an innovative environment where we can cultivate new medicines and bring them to market.
Pfizer has clear company policies and procedures that govern its public policy engagement. Corporate treasury funds may not be used to contribute to candidates for federal office. In 2010, we adopted a strict policy prohibiting the use of corporate funds to make direct independent expenditures in connection with federal or state elections. These funds may be used, where legally permissible, to contribute to candidates for state and local office. The Pfizer Political Action Committee (PAC) makes contributions to candidates for federal, state and local office, and fully discloses its contributions on a regular basis to the Federal Election Commission.
All political contributions are vetted through a rigorous process and approved by the PAC Steering Committee comprised of members representing different divisions within Pfizer. Contributions also undergo a second level review by the Pfizer Political Contributions Policy Committee and legal counsel. Our corporate political contributions and employee PAC contributions are disclosed bi-annually in a report and presented to the Board prior to its posting on Pfizer.com.
Pfizer is a member of several industry and trade groups that represent both the pharmaceutical industry and the business community at large in an effort to bring about consensus on broad policy issues that can impact Pfizer's business objectives. Pfizer's participation as a member of these various industry and trade groups comes with the understanding that they may not always agree with the positions of the larger organization, and that they are committed to voicing their concerns as appropriate through colleagues who serve on the boards and committees of these groups.
Further information on Pfizer’s Corporate Political Spending policies, practices and disclosures is available at:
Committee Representative: Matthew Lepore, Corporate Secretary, Chief Counsel – Corporate Governance, Pfizer Inc.
Committee Role: Member