Pfizer Case Study

In 1849, Charles Pfizer and Co. started with two cousins Charles Pfizer and Charles Erhart, who were young entrepreneurs from Germany. They opened the chemical firm in Brooklyn, New York, and began there operations in the Williamsburg community of Brooklyn. Pfizer Incorporated is a major pharmaceutical company, which ranks number two in sales. During the Civil War Pfizer supplied the Union Army with painkillers, preservatives, and disinfectants. Pfizer expanded westward in 1882, opening an office in Chicago, Illinois, which is the first office opened outside of New York. Emile Pfizer joined the company and became president of the company in 1906. Emile Pfizer was the last direct descendant of the Pfizer-Erhart family to run the company. Now, Pfizer is one of the leading suppliers’ of pharmaceuticals worldwide.
Pfizer’s mission statement- “We will develop bold and innovative partnerships, reach patients we have never reached before, provide medicines and services in an affordable manner, be recognized for having the best talent in healthcare, and become a leading biopharmaceutical company in emerging markets.”
Pfizer’s vision statement- “We will be recognized for meeting the diverse medical needs of patients in emerging markets around the world in an innovative, socially responsible and commercially viable manner.”
Pfizer specializes in the discovery, development, manufacturing, and marketing of prescription drugs for humans and animals. Some of the most popular products include: Lipitor for reduction of LDL cholesterol, Viagra for erectile dysfunction, Lyrica for epilepsy, Zeldox for bipolar disorders, and Aricept for Alzheimer’s disease. One of the biggest steps for Pfizer was in 1941 when Pfizer mass produced penicillin. Penicillin is a widely used drug that is effective in killing many different types of bacteria. Pharmaceuticals accounted for 91.5% of total revenues in 2008. Animal health accounts for 5.8%, and corporate other accounts for 2.7%