Pfizer Inc. is a leading global pharmaceutical company engaged in the research, development, manufacture, and distribution of healthcare products, including prescription medicines, vaccines, and consumer healthcare products. The company was founded in 1849 by Charles Pfizer and Charles Erhart, initially as a fine chemicals business. Today, Pfizer is headquartered in New York City, New York, United States.
Pfizer operates through three main business segments:
Pfizer Biopharmaceuticals Group (PBG): This segment focuses on the research, development, and commercialization of innovative prescription medicines across several therapeutic areas, such as oncology, inflammation and immunology, rare diseases, internal medicine, and vaccines. Some of the well-known prescription medicines within this segment include Prevnar 13 (a pneumococcal vaccine), Ibrance (a breast cancer treatment), Eliquis (an anticoagulant), and Xeljanz (an arthritis treatment).
Upjohn: This segment, which has been merged with Mylan to form a new company called Viatris, was responsible for Pfizer''s off-patent and generic pharmaceutical products. The portfolio included established brands such as Lipitor (a cholesterol-lowering drug), Viagra (an erectile dysfunction treatment), and Norvasc (a high blood pressure treatment).
Consumer Healthcare: This segment, which was divested through a joint venture with GlaxoSmithKline (GSK) in 2019 to create a new consumer healthcare company, focused on the research, development, and marketing of over-the-counter (OTC) medicines and personal care products. Some popular brands from this segment include Advil (a pain reliever), Centrum (a multivitamin), and Robitussin (a cough medicine).
Pfizer has a robust pipeline of investigational drugs and therapies under development, focusing on various therapeutic areas such as oncology, rare diseases, and immunology. The company is also committed to innovation, investing in research and development to create advanced healthcare solutions.
One of Pfizer''s most notable recent achievements is the development of the Pfizer-BioNTech COVID-19 vaccine, also known as BNT162b2 or Comirnaty. The vaccine, developed in partnership with German biotechnology company BioNTech, was one of the first COVID-19 vaccines to receive emergency use authorization and full approval from regulatory agencies in various countries.
As a global pharmaceutical company, Pfizer must navigate complex international, national, and local regulations related to drug development, manufacturing, marketing, and distribution. The company also faces competition from other pharmaceutical and biotechnology companies, as well as challenges from patent expirations, pricing pressures, and evolving healthcare policies.
Pfizer Inc. is publicly traded on the New York Stock Exchange (NYSE) under the ticker symbol "PFE."
In addition to its core business, Pfizer is committed to corporate responsibility, focusing on areas such as environmental sustainability, community engagement, diversity and inclusion, and ethical governance. The company supports various initiatives and partnerships aimed at improving public health, promoting education and research, and addressing global health challenges. Pfizer also actively engages in efforts to reduce its environmental footprint and promote responsible business practices.
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