Big Pharma's giants: Pfizer
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Pfizer was founded in 1849 by German-American cousins Charles Pfizer and Charles F. Erhart in New
York City as a chemical company.
After some success with the production of chemicals, like citric acid, they started to produce penicillin, a
drug very useful to treat injured soldiers, becoming one of the biggest suppliers for US government
After the war, in response to a reduction in the price of penicillin, they developed oxytetracycline shifting
completely their business from chemicals to research-based #pharmaceuticals
and, in 1960, moving their
research headquarter to Groton, Connecticut.
Recently, putting in place a strategy based on mergers and acquisitions, the most important of which are
–Lambert for $111.8 billion (2000) and #Wyeth
for $68 billion (2009), #Pfizer
has been able to
expand its portfolio of #drugs
, patents and research technologies.
The company is one of the top five in the sector with 52 billion $ of revenues, it's listed on the #NYSE
and a component of the #DJIA
since 2004. It employs around 96500 workers.
The actual shareholders are mainly banks and investment funds and its business is spread all over the
world with revenues coming from USA for 43,5%, Europe for 29,1% and Asia for 16%. Among all the pharmaceuticals produced by Pfizer six of them achieved the level of “blockbuster drugs”,
generating more than $1 billion of revenue each year and are some of the most well-known amid
physicians: Lipitor (atorvastatin), used to lower LDL blood cholesterol; #Lyrica
neuropathic pain/fibromyalgia; Diflucan (fluconazole), an oral antifungal medication; Zithromax (azithromycin), an antibiotic; #Viagra
(sildenafil) for erectile dysfunction; and Celebrex/Celebra
(celecoxib), an anti-inflammatory drug.
Do you think it is fair to have medical R&D run by private giant companies or would it be better to make
it only public?
in the comments below