Public (NYSE: PFE)
FoundedBrooklyn, New York, USA (1849)
HeadquartersNew York City, New York, USA
Key peopleJeff Kindler, CEO
David Shedlarz, VC
Ian Read, Pres. of Pharma.
Martin Mackay, Pres. of R&D
▲$48.613 billion USD (2007)
▲$8.298 billion USD (2007)
Working for a healthier world™
Pfizer Incorporated (NYSE: PFE) is a major pharmaceutical company, which ranks number one in sales. The company is based in New York City. It produces the number-one selling drug Lipitor (atorvastatin, used to lower blood cholesterol); the oral antifungal medication Diflucan (fluconazole), the long-acting antibiotic Zithromax (azithromycin), the well-known erectile dysfunction drug Viagra (sildenafil citrate), and the anti inflammatory Celebrex (celecoxib) (also known as Celebra in some countries outside USA and Canada, mainly in South America). Pfizer's shares were made a component of the Dow Jones Industrial Average on April 8, 2004. With 2005 actual spending of $7.4 billion in research & development (R&D), Pfizer boasts the industry's largest pharmaceutical R&D organization: Pfizer Global Research and Development.
HISTORY OF PFIZER INC
Pfizer is named after German-American cousins Charles Pfizer and Charles Erhardt who launched their chemicals business Charles Pfizer and Company from a building at the intersection of Harrison Avenue and Barlett Street in Williamsburg, Brooklyn in 1849. There, they produced an antiparasitic called santonin. This was an immediate success, although it was the production of citric acid that really kick-started Pfizer's growth in the 1880s. Pfizer continued to buy property to expand its lab and factory on the block bounded by Bartlett Street; Harrison Avenue; Gerry Street; and Flushing Avenue. That facility is still utilized for backshop purposes. Pfizer established its original administrative headquarters at 81 Maiden Lane in Manhattan. By 1910, sales totaled nearly $3 million, and Pfizer became established as an expert in fermentation technology. These skills were applied to the mass production of penicillin during World War II, in response to an appeal from the U.S. government. The antibiotic was urgently needed to treat injured Allied soldiers, and it soon became known as "the miracle drug". In fact, most of the penicillin that went ashore with the troops on D-Day was made by Pfizer. By the 1950s, Pfizer was established in Iran, Belgium, Brazil, Canada, Cuba, Mexico, Panama, Puerto Rico and the United Kingdom. During the 1980s and 1990s Pfizer underwent a period of growth sustained by the discovery and marketing of multiple successful drugs (Zoloft, Lipitor, Norvasc, Zithromax, Aricept, Diflucan, Viagra).
Current members of the board of directors of Pfizer are: Michael S. Brown, M. Anthony Burns, Robert Burt, Don Cornwell, William H. Gray, Constance Horner, William Howell, Stanley Ikenberry, Jeff Kindler (chairman), George Lorch, Dana Mead, Ruth J. Simmons, and William Steere.
•Chief Executive Officer (CEO): Jeff Kindler
•Vice Chairman: David L. Shedlarz
•President of Worldwide Pharmaceutical Operations: Ian Read •President of Global R&D: Martin Mackay
•2007 Pharmacist of the Year: Mike Militello, Pharm.D., BCPS
Pfizer is organized into four divisions: Human Health ($44.28B in 2005 sales), Consumer Healthcare ($3.87B in 2005 sales), Animal Health ($2.2B in 2005 sales), and Corporate Groups (which includes legal, finance, and HR). On June 26, 2006, Pfizer announced that it would sell its Consumer Healthcare unit (famous for well-known brands like Listerine, Nicorette, Visine, Sudafed and Neosporin) to Johnson & Johnson for $16.6B.
Pfizer manufactures pharmaceutical medications and has an annual product marketing...