Dr. Martin Mackay Named President of Pfizer Global Research and Development

Pfizer Launches Independent Biotherapeutics and Bioinnovation Center, Headed by Dr. Corey Goodman Dr. Briggs Morrison Named Head of Clinical Development

Pfizer today named Dr. Martin Mackay as President of Pfizer Global
Research and Development (PGRD); launched an independent, stand-alone
biotherapeutics and bioinnovation center under the direction of
scientist and entrepreneur Dr. Corey Goodman; and named Dr. Briggs
Morrison, who held senior research and development positions at Merck,
as its new Head of Clinical Development for the PGRD pipeline.

"As the leader of PGRD, Martin Mackay will bring Pfizer's talent,
drug discovery and development experience, capital and technology to
bear on increasing the value of our near-term pipeline and bringing
new compounds forward to approval," said Jeff Kindler, Chairman and
chief executive officer. "Martin will drive changes in PGRD's goals,
performance measurements, allocation of resources, culture and
leadership so that Pfizer delivers a steady stream of new medicines
that represent compelling value to our customers and payers."

"We are also today launching a new biotherapeutics and
bioinnovation center with a unique structure to discover, license and
acquire more new product candidates that we can put into development,"
said Mr. Kindler. "With this strategy, we are leveraging Pfizer's
excellence in drug discovery and development by complementing it with
a distinct, California-based enterprise led by world-class scientists
charged with discovering and bringing in new compounds," he added.

Kindler continued, "Corey Goodman, a member of the National
Academy of Sciences, enjoys the highest respect of the worldwide
scientific community and brings to Pfizer broad experience with
leading scientific institutions as well as the venture and biotech
community. He will lead a center that uses advanced applications of
cell biology and cutting-edge technologies, sources the best science
wherever we find it, and bridges the gap between basic research and
drug discovery."

The center will focus on discovering new medicines as well as
securing new technologies and research tools that can be used across
all of Pfizer's therapeutic areas. It will work in a highly
collaborative manner both with PGRD and with the academic, biotech and
venture communities, not only to focus on delivering new compounds for
Pfizer but also on incubating start-ups with new innovative
technologies. Dr. Goodman will report to Mr. Kindler and become a
member of Pfizer's Executive Leadership Team.

As the new head of PGRD, Dr. Mackay will also report to Mr.
Kindler and join the Pfizer Executive Leadership Team. Dr. Mackay has
developed and will pursue a five-point plan to maximize PGRD's
contribution to Pfizer's growth:

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1. Bring to the market as quickly as possible the rich Phase II
portfolio as well as the Phase III pipeline compounds, and add
value through label enhancements, line extensions, additional
indications and product combinations;

2. Focus PGRD's resources on the compounds and disease areas that
represent the best opportunities, and work with Pfizer's business
development to secure external products and platforms in those
priority areas;

3. Become a top-tier company in biotherapeutics by aggressively
advancing our existing 25 pre-clinical and clinical programs in
priority areas such as oncology, immunology and pain, and working
in partnership with the new biotherapeutics and bioinnovation
center and pursuing other strategic external opportunities;

4. Dramatically raise the bar on PGRD productivity - with recent
organizational changes now nearing completion, set new aggressive
targets for productivity and efficiency and insist on clear
accountability for achieving those goals; and

5. Pursue the best science outside PGRD's walls through collaborative
opportunities with academia and the medical and biotech community
in order to secure access to cutting-edge technologies, new biology
and modes of action to supplement and enhance Pfizer's internal
capabilities.
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1. Aggressively advance the late stage portfolio

Dr. Mackay said that "with 47 compounds in Phase II across a
number of very promising therapeutic areas, we have the opportunity to
have more Phase III starts next year than at any time in our history,
and my goal is to achieve that milestone."

To support this critical objective, Dr. Mackay announced that Dr.
Briggs Morrison, most recently Senior Vice President of Research
Planning and Integration at Merck Research Laboratories and previously
head of Global Clinical Development Operations, will join Pfizer as
Senior Vice President for Clinical Development. Dr. Morrison will be
responsible for the clinical development of all compounds in Pfizer's
portfolio, and he will play a key role in implementing strategies to
advance key compounds to approval. He will report to Dr. Mackay, join
the PGRD Leadership Team and have the therapeutic area development
group heads reporting to him, as well as the head of clinical,
quantitative and innovative medicine.

"The hiring of Briggs Morrison reflects an acceleration of our
focus on the broad array of candidates in our late stage pipeline,"
said Dr. Mackay. "Briggs is a senior executive who has experience with
innovative new approaches to drug development and commercialization
and played an important role in the transformation of Merck's clinical
development operations. He is ideally suited to overseeing our
worldwide clinical development and driving our late-stage candidates
to market as speedily as possible."

2. Invest in the best opportunities

Over the past several months, Dr. Mackay together with Pfizer's
leaders of commercial operations, has led a comprehensive review of
the disease areas in which Pfizer conducts research and development in
light of a rapidly changing marketplace and what customers expect from
new medicines.

"Given the critical need to deliver new and valuable products from
our pipeline as fast as possible, I will immediately embark on a
systematic review of all of our R&D investments to ensure that we
prioritize allocation of funds to our most promising programs," said
Dr. Mackay.

In addition, PGRD will work closely with Pfizer Business
Development to secure the best external opportunities in targeted
areas through acquisitions, licensing and development, joint venture
and alliances and other collaborative agreements.

3. Become a top-tier company in biotherapeutics

PGRD will work in partnership with the new biotherapeutics center
led by Dr. Goodman and continue to build a strong presence in
biotherapeutics across research, pharmaceutical sciences and
development to establish a top-tier position in biotherapeutics.

Pfizer will aggressively advance the 25 pre-clinical and clinical
programs already in its development pipeline, as well as a range of
external opportunities, including those developed by the new
biotherapeutics and bioinnovation center. Within PGRD, as well as in
the new independent center, Pfizer will continue to make investments
to substantially expand biotherapeutics capabilities.

4. "Dramatically raise the bar" on PGRD productivity

"We are currently in the final stages of a business transformation
program at PGRD, and our goal is to bring these changes to a
conclusion with a minimum of disruption, realize their benefits, and
then move forward with four major research sites, global platform
lines and a very focused drug development team," said Mr. Kindler.
"Under Martin's strong leadership and follow-up throughout this
process, we have made important progress in streamlining PGRD,
consolidating our therapeutic areas, and moving a substantial portion
of our investments from bricks and mortar into research and
development."

"It is a remarkable reflection on our colleagues that we have
maintained productivity over this period," added Dr. Mackay. "In fact,
we have completed the transfer of all R&D projects and have relocated
hundreds of scientists to other sites. The plans to rapidly develop
our late stage pipeline have been put in place and we see good
progress on that critical imperative. But we can, and will,
dramatically raise the bar on PGRD productivity and establish
crystal-clear accountability for meeting our goals. We will move from
periodic restructurings to a much more systematic approach of
continuous improvement that will put us in the best position to
accelerate our productivity gains and speed new medicines to the
market. We will take our therapeutic area structure -- which is
proving to be highly productive -- to the next level by giving those
teams greater flexibility and even more opportunities to create
value."

5. Pursue the best science outside our walls

PGRD will seek ways to expand its collaborations with the biotech,
academic and biomedical communities to ensure that the best new
technology and product candidates get rapidly translated into exciting
new therapies and new medicines. Pfizer's Business Development team
will work with PGRD to acquire, license and partner on the most
important technologies and product candidates. At the same time,
Pfizer is actively identifying new discovery partnerships in specific
areas and finding opportunities for broad-based collaborations such as
the Scripps Institute alliance.

"We began this endeavor in earnest last year with the
establishment of our alliance with Scripps and our incubator in La
Jolla." said Dr. Mackay. "The collaboration is simply outstanding and
the partnership between Pfizer and Scripps scientists is
inspirational. Moreover, our incubator is already bearing fruit in
terms of new pre-clinical candidates and research tools. We are
looking to create more such partnerships and incubators, and we look
forward to working closely with our new biotherapeutics and
bioinnovation center to create additional alliances and incubators in
California and elsewhere," he added.

Goals of Biotherapeutics and Bioinnovation Center

Pfizer's new biotherapeutics and bioinnovation center, with Dr.
Corey Goodman as President, will be based in the San Francisco Bay
area and will combine cutting-edge biology, new platform technologies,
and advanced research tools to discover and develop new medicines.
This new venture is a significant departure for Pfizer and the
pharmaceutical industry. Located in one of the hubs of biotechnology,
the Center will have the entrepreneurial spirit of biotech and
collaborate broadly with the academic, biotech, and venture
communities to focus on discovering and developing new medicines.

Dr. Goodman commented, "The Center will be built on a new model,
capturing the best of both the biotech and pharmaceutical worlds. On
the one hand, the Center will be independent, able to pursue its own
research interests, free to establish its own distinct culture, and
empowered to recruit entrepreneurial scientists. However, what makes
this model unique is the ability of the Center to leverage all of the
vast strengths of PGRD, for example, gaining access to high-throughput
screening and pharmaceutical science capabilities, exchanging
knowledge and tools, working closely with PGRD's biotherapeutics
teams, and handing off new drug candidates to PGRD for late-stage
clinical development. Martin and I will work closely together to
assure that technology and capability flow freely between PGRD and the
new Center."

Dr. Goodman continued, "Biological innovation is exploding. There
is so much to explore in terms of new targets and new technologies.
With our collaborative and entrepreneurial model, we will be in the
best position to find promising new targets, technologies and tools
externally, to discover them organically, and to leverage them with
the scale and know-how of PGRD so as to turn them into potential new
medicines. While we will be focused on biotherapeutics, we will look
for any innovative technology in any area that will help develop new
medicines. We will be in the center of the California biotech and
venture community, in the midst of some of the greatest biomedical
research institutions, and will work to attract outstanding scientific
talent, to seek collaborations, and to build incubators at this very
exciting time for biological discovery. Martin and I share this vision
with Jeff and will work together to provide Pfizer's development team
with innovative new product candidates."

"I am confident that our new biotherapeutics and bioinnovation
center is exactly what we need to take a major step forward in one of
the key areas for our future growth, and I very much look forward to
working with Corey and Martin on this new endeavor," said Mr. Kindler.

Biographical Backgrounds

Dr. Martin Mackay

Before today's announcement, Dr. Mackay was Vice President of
Pfizer Global R&D and Senior Vice President of Worldwide Development,
where he oversaw 6,500 Pfizer colleagues across clinical development,
development operations, pharmaceutical sciences, drug safety and
project and portfolio management as well as 11 therapeutic areas. He
began his career at Pfizer in 1995 as Director of Discovery Biology in
the U.K. and held positions of increasing responsibility until he
moved to the United States in 1999 to become Senior Vice President,
Worldwide Discovery. He was named Senior Vice President, Head of
Worldwide Research and Technology in 2003. Dr. Mackay earned a
Microbiology First Class Honors Degree at Heriot-Watt University and a
PhD in Molecular Genetics at the University of Edinburgh in 1983. He
conducted his postdoctoral research fellowship in malaria vaccines and
worked in the research divisions of other European pharmaceutical
companies before joining Pfizer.

Dr. Corey Goodman

Dr. Goodman co-founded two biotech companies, Exelixis and
Renovis, and served as the Chief Executive Officer of Renovis. He was
a professor of biology at Stanford University for eight years and a
professor of neurobiology and genetics at the University of California
Berkley for 18 years, where he remains on the faculty. At Berkeley,
Dr. Goodman was the Evan Rauch Professor of Neuroscience, the Director
and co-founder of the Wills Neuroscience Institute, and an
Investigator with the Howard Hughes Medical Institute. He received a
B.S. in Biology from Stanford and a Ph.D. in Neurobiology from the
University of California, Berkeley. He was a Helen Hay Whitney
Postdoctoral Fellow in Developmental Neurobiology at the University of
California San Diego. Dr. Goodman was elected a member of the National
Academy of Sciences. Amongst his many scientific honors are the Alan
T. Waterman Award from the National Science Board, the Gairdner
Foundation International Award for Achievement in Medical Sciences,
and the March-of-Dimes Prize in Developmental Biology. Dr. Goodman was
Chair of the National Research Council's Board of Life Sciences from
2001 to 2006, and is Vice President of the McKnight Endowment Fund for
Neuroscience. He also serves on the California Council of Science and
Technology.

Dr. Briggs Morrison

Dr. Morrison joined Merck in 1995 and served in senior research
and clinical data management positions, including as Executive
Director and Vice President for all Clinical Data Management
Operations, where he was responsible for all clinical data management
across the entire research portfolio. He was on a special assignment
from 2004-2006 to review and enhance the effectiveness of Merck's
research operations. He was most recently Vice President, Clinical
Sciences, Oncology where he oversaw all clinical trials and activities
for Merck's oncology pipeline. He received a B.S. in Biology from
Georgetown University and holds an M.D. from the University of
Connecticut School of Medicine. He has been a Fellow in Clinical
Oncology at the Dana-Farber Cancer Institute and an instructor in
medicine at the Harvard Medical School.

DISCLOSURE NOTICE: The information contained in this release is as
of October 4, 2007. The Company assumes no obligation to update any
forward-looking statements contained in this release as a result of
new information or future events or developments.

This release contains forward-looking information about the
Company's research and development activities that involves
substantial risks and uncertainties. A description of these risks and
uncertainties can be found in the Company's Annual Report on Form 10-K
for the fiscal year ended December 31, 2006 and in its reports on
Forms 10-Q and 8-K.