News

Pfizer opens new financial centre in Prague

Pfizer to invest almost CZK 180m to consolidate administration of financial activities for Central and Eastern European markets in a new locality.

Pfizer Inc. announced the opening of a new Global Financial Solutions centre (GFS – Global Financial Solution centre) for Central and Eastern Europe in Prague. The new centre currently serves the Russian market and is expected to support nine Central and Eastern European markets.

Pfizer's decision to invest in Prague and support its Central and Eastern European markets is a testament to the ability of the City of Prague to attract investors. John Raney, chief executive officer of Pfizer Czech Republic, said: ‘Stability and a good environment for business in particular were what we took into account when looking for a good place for our centre. We carried out a comprehensive assessment and chose Prague, which satisfied all our requirements.’ In the first stage, the GFS centre in Prague will support Russia, the Czech Republic, Hungary, Poland and Greece. Israel, Romania, Serbia and Turkey will join in at the beginning of 2018 as part of the second stage of the project.

Pfizer’s GFS organization centralizes, standardizes, and optimizes financial processes to deliver the best value to Pfizer at the lowest cost. The GFS centre in Prague will concentrate the financial activities across Central and Eastern European region into one organization, enhancing market efficiency and effectiveness, while at the same time ensuring a robust control environment.  As the centre supports more markets throughout the region, Pfizer expects to create new jobs in Prague for candidates with suitable finance, accounting, technical, and language skills.

 “We anticipate as many as 55 new positions for highly skilled finance and accounting professionals by 2017. The centre currently employs 30 colleagues”, said Mark McWalter, GFS executive manager for the Prague location. 

Pfizer is well positioned for potential growth in Prague as a result of the standardization of its financial processes across the world using a Global ERP model (Enterprise resources planning) with SAP as its foundational platform. In 2015, the Czech Republic, Hungary, Poland and Greece will join with other major global markets on this standard platform to manage its business.

Pfizer Czech Republic

Pfizer Inc. is a research-based, global biopharmaceutical company. Founded in 1849, Pfizer has been seated in New York since its establishment. Pfizer, spol. s r. o. was established in the Czech Republic in 1993. Pfizer operates in research, development and the sale of human pharmaceuticals, including biological pharmaceuticals. Pfizer is also active in conducting clinical assessments of new medicines, and this also applies to the Czech Republic. In 2013 Pfizer made a global investment of more than 130 billion Czech crowns (6.7 billion American dollars) into research and development of new medicine. Pfizer employs approximately 80,000 people globally. For more information about Pfizer, spol. s r. o. please visit www.pfizer.cz

Press contact:

Mgr. Marta Fialová, marta.fialova@mhw.cz, Tel: 00420 734 875 400