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Pfizer

December 31, 2023

For the COVID-19 vaccine, see Pfizer–BioNTech COVID-19 vaccine. For other uses, see Pfizer (disambiguation).

40°45′01″N 73°58′21″W / 40.75028°N 73.97250°W / 40.75028; -73.97250

Pfizer Inc.
TypePublic
Industry
Founded1849; 174 years ago (1849) in New York City
Founders
HeadquartersThe Spiral,
New York City
,
U.S.
Area served
Worldwide
Key people
Albert Bourla (CEO)
Products
Revenue US$100.3 billion (2022)
US$31.40 billion (2022)
US$31.37 billion (2022)
Total assets US$197.2 billion (2022)
Total equity US$95.66 billion (2022)
Number of employees
c. 83,000 (2022)
Websitepfizer.com
Footnotes / references
[1]
Former corporate logos (until 2021).
The headquarters of Pfizer in Tokyo, Japan

Pfizer Inc. (/ˈfaɪzər/ FY-zər)[2] is an American multinational pharmaceutical and biotechnology corporation headquartered at The Spiral in Manhattan, New York City. The company was established in 1849 in New York by two German entrepreneurs, Charles Pfizer (1824–1906) and his cousin Charles F. Erhart (1821–1891).

Pfizer develops and produces medicines and vaccines for immunology, oncology, cardiology, endocrinology, and neurology. The company's largest products by sales are the Pfizer–BioNTech COVID-19 vaccine ($37 billion in 2022 revenues), Nirmatrelvir/ritonavir ($18 billion in 2022 revenues), Apixaban ($6 billion in 2022 revenues), a pneumococcal conjugate vaccine ($6 billion in 2022 revenues), and Palbociclib ($5 billion in 2022 revenues).[1] In 2022, 42% of the company's revenues came from the United States, 8% came from Japan, and 50% came from other countries.[1]

Pfizer was a component of the Dow Jones Industrial Average stock market index from 2004 to August 2020.[3][4][5][6] The company ranks 38th on the Fortune 500[7] and 39th on the Forbes Global 2000.[8]

History edit

 
Charles Pfizer (1824–1906)

1849–1950: Early history edit

Pfizer was founded in 1849 as "Charles Pfizer & Company" by Charles Pfizer and Charles F. Erhart,[9] two cousins who had immigrated to the United States from Ludwigsburg, Germany. The business produced chemical compounds, and was headquartered on Bartlett Street[10] in Williamsburgh, New York where they produced an antiparasitic called santonin. This was an immediate success, although it was production of citric acid that led to Pfizer's growth in the 1880s. Pfizer continued to buy property in the area (by now the Williamsburg district of the city of Brooklyn, New York and beginning in 1898, the City of Greater New York) to expand its lab and factory, retaining offices on Flushing Avenue until the 1960s; the Brooklyn plant ultimately closed in 2009.[11] Following their success with citric acid, Pfizer (at the now-demolished 295 Washington Avenue) and Erhart (at 280 Washington Avenue) established their main residences in the nearby Clinton Hill district, known for its concentration of Gilded Age wealth.

In 1881, Pfizer moved its administrative headquarters to 81 Maiden Lane in Manhattan, presaging the company's expansion to Chicago a year later.[10][12] By 1906 sales exceeded $3 million.[13]

World War I caused a shortage of calcium citrate, which Pfizer imported from Italy for the manufacture of citric acid, and the company began a search for an alternative supply. Pfizer chemists learned of a fungus that ferments sugar to citric acid, and they were able to commercialize production of citric acid from this source in 1919. The company developed expertise in fermentation technology as a result. These skills were applied to the deep-submergence mass production of penicillin, an antibiotic, during World War II in response to the need to treat injured Allied soldiers.[14] The company also embarked on a global soil collection program related to improving production yields of penicillin which ultimately resulted in 135,000 samples.[15]

On June 2, 1942, the company incorporated in Delaware.[1]

1950–1980: Pivot to pharmaceutical research and global expansion edit

Due to price declines for penicillin, Pfizer searched for new antibiotics with greater profit potential. Pfizer discovered oxytetracycline in 1950, and this changed the company from a manufacturer of fine chemicals to a research-based pharmaceutical company. Pfizer developed a drug discovery program focused on in vitro synthesis to augment its research in fermentation technology. In 1959, the company established an animal health division with a 700-acre (2.8 km2) farm and research facility in Terre Haute, Indiana.[14]

By the 1950s, Pfizer had established offices in Belgium, Brazil, Canada, Cuba, Mexico, Panama, Puerto Rico, and the United Kingdom. In 1960, the company moved its medical research laboratory operations out of New York City to a new facility in Groton, Connecticut. In 1980, Pfizer launched Feldene (piroxicam), a prescription anti-inflammatory medication that became Pfizer's first product to reach $1 billion in revenue.[13]

In 1965, John Powers, Jr. became chief executive officer of the company, succeeding John McKeen.[13]

As the area surrounding its Brooklyn plant fell into decline in the 1970s and 1980s, the company formed a public-private partnership with New York City that encompassed the construction of low- and middle-income housing, the refurbishment of apartment buildings for the homeless and the establishment of a charter school.[12]

In 1972, Edmund T. Pratt Jr. became chief executive officer of the company, succeeding John Powers, Jr.[13]

1980–2000: Development of Viagra, Zoloft, and Lipitor edit

In 1981, the company received approval for Diflucan (fluconazole), the first oral treatment for severe fungal infections including candidiasis, blastomycosis, coccidiodomycosis, cryptococcosis, histoplasmosis, dermatophytosis, and pityriasis versicolor.[16]

In 1986, Pfizer acquired the worldwide rights to Zithromax (azithromycin), a macrolide antibiotic that is recommended by the Infectious Disease Society of America as a first line treatment for certain cases of community-acquired pneumonia, from Pliva.[17][18]

In 1989, Pfizer scientists Peter Dunn and Albert Wood created Viagra (sildenafil) for treating high blood pressure and angina, a chest pain associated with coronary artery disease. In 1991, it was patented in the United Kingdom as a heart medication. Early trials for the medication showed that it did not work for the treatment of heart disease, but volunteers in the clinical trials had increased erections several days after taking the drug. It was patented in the United States in 1996 and received approval by the Food and Drug Administration in March 1998. In December 1998, Pfizer hired Bob Dole as a spokesperson for the drug.[19] The patents for Viagra expired in 2020.[20]

In 1991, William C. Steere, Jr. became chief executive officers of the company, succeeding Edmund T. Pratt Jr.[21]

In 1991 Pfizer also began marketing Zoloft (sertraline), an antidepressant of the selective serotonin reuptake inhibitor (SSRI) class developed nine years earlier by Pfizer chemists Kenneth Koe and Willard Welch. Sertraline is primarily prescribed for major depressive disorder in adult outpatients as well as obsessive-compulsive disorder, panic disorder, and social anxiety disorder in both adults and children. In 2005, the year before it became a generic drug, sales were over $3 billion and over 100 million people had been treated with the drug.[22] The patent for Zoloft expired in the summer of 2006.[23]

In 1996, Eisai, in partnership with Pfizer, received approval from the Food and Drug Administration for donepezil under the brand Aricept for treatment of Alzheimer's disease;[24] Pfizer also received approval for Norvasc (amlodipine), an antihypertensive drug of the dihydropyridine calcium channel blocker class.[25]

 
Bottles of Zoloft (sertraline), an antidepressant

In 1997, the company entered into a co-marketing agreement with Warner–Lambert for Lipitor (atorvastatin), a statin for the treatment of hypercholesterolemia. Although atorvastatin was the fifth statin to be developed, clinical trials showed that atorvastatin caused a more dramatic reduction in low-density lipoprotein pattern C (LDL-C) than the other statin drugs. Upon its patent expiration in 2011, Lipitor was the best-selling drug ever, with approximately $125 billion in sales over 14.5 years.[26]

2000–2010: Further expansion edit

In 2001, Henry McKinnell became chief executive officer of the company, replacing William C. Steere, Jr.[27]

In 2002, The Bill & Melinda Gates Foundation purchased stock in Pfizer.[28]

In 2004, the company received approval for Lyrica (pregabalin), an anticonvulsant and anxiolytic medication used to treat epilepsy, neuropathic pain, fibromyalgia, restless leg syndrome, and generalized anxiety disorder.[29][30][31] The United States patent on Lyrica was challenged by generic manufacturers and was upheld in 2014, extending the expiration date to 2018.[32]

In July 2006, Jeff Kindler was named chief executive officer of the company, replacing Henry McKinnell.[27][33]

On December 3, 2006, Pfizer ceased development of torcetrapib, a drug that increases production of HDL, which reduces LDL thought to be correlated to heart disease. During a Phase III clinical trial involving 15,000 patients, more deaths than expected occurred in the group that took the medicine, and the mortality rate of patients taking the combination of torcetrapib and Lipitor (82 deaths during the study) was 60% higher than those taking Lipitor alone (52 deaths during the study). Lipitor alone was not implicated in the results, but Pfizer lost nearly $1 billion developing the failed drug and its stock price dropped 11% on the day of the announcement.[34][35][36][37]

Between 2007 and 2010, Pfizer spent $3.3 million on investigations and legal fees and recovered about $5.1 million, and had another $5 million of pending recoveries from civil lawsuits against makers of counterfeit prescription drugs. Pfizer has hired customs and narcotics experts worldwide to track down fakes and assemble evidence that can be used to pursue civil suits for trademark infringement.[38]

In July 2008, Pfizer announced 275 job cuts at its manufacturing facility in Kalamazoo, Michigan. Kalamazoo was previously the world headquarters of Upjohn Company, which had been acquired as part of Pharmacia.[39][40]

Acquisitions and mergers edit

In June 2000, Pfizer acquired Warner-Lambert outright for $116 billion. To satisfy conditions imposed by antitrust regulators at the Federal Trade Commission, Pfizer sold off or transferred stakes in several minor products, including RID (a shampoo for treatment of head lice, sold to Bayer) and Warner-Lambert's antidepressant Celexa (which competes with Zoloft).[41] The acquisition created what was, at the time, the second-largest pharmaceutical company worldwide.[42]

In 2003, Pfizer merged with Pharmacia, and in the process acquired Searle and SUGEN. Searle had developed Flagyl (metronidazole), a nitroimidazole antibiotic medication used particularly for anaerobic bacteria and protozoa.[40][43] Searle also developed celecoxib (Celebrex) a COX-2 inhibitor and nonsteroidal anti-inflammatory drug (NSAID) used to treat the pain and inflammation in osteoarthritis, acute pain in adults, rheumatoid arthritis, ankylosing spondylitis, painful menstruation, and juvenile rheumatoid arthritis.[44] SUGEN, a company focused on protein kinase inhibitors, had pioneered the use of ATP-mimetic small molecules to block signal transduction. The SUGEN facility was shut down in 2003 by Pfizer, with the loss of more than 300 jobs, and several programs were transferred to Pfizer. These included sunitinib (Sutent), a cancer medication which was approved for human use by the FDA in January 2006.[45][46] A related compound, SU11654 (Toceranib), was also approved for cancer in dogs, and the ALK inhibitor Crizotinib also grew out of a SUGEN program.[47][48]

In October 2006, the company announced it would acquire PowerMed.[49]

On October 15, 2009, Pfizer acquired Wyeth for $68 billion in cash and stock, including the assumption of debt, making Pfizer the largest pharmaceutical company in the world.[50][51][52][53][54] The acquisition of Wyeth provided Pfizer with a pneumococcal conjugate vaccine, trademarked Prevnar 13; this is used for the prevention of invasive pneumococcal infections. The introduction of the original, 7-valent version of the vaccine, developed by Wyeth in February 2000, led to a 75% reduction in the incidence of invasive pneumococcal infections among children under age 5 in the United States. Pfizer introduced an improved version of the vaccine in 2010, for which it was granted a patent in India in 2017. Prevnar 13 provides coverage of 13 bacterial variants, expanding beyond the original 7-valent version.[54] By 2012, the rate of invasive infections among children under age 5 had been reduced by an additional 50%.[55][56]

2010–2020: Further discoveries and acquisitions edit

 
Entrance to former Pfizer World Headquarters building (1961-2023)[57]

In 2010, Ian Read was named chief executive officer of the company.[58]

In February 2011, Pfizer announced the closure of its UK research and development facility (formerly also a manufacturing plant) in Sandwich, Kent, which at the time employed 2,400 people.[59] In March 2011, Pfizer acquired King Pharmaceuticals for $3.6 billion in cash. King produced emergency injectables such as the EpiPen.[60]

On September 4, 2012, the FDA approved bosutinib (Bosulif) for chronic myelogenous leukemia (CML), a rare type of leukemia and a blood and bone marrow disease that affects primarily older adults.[61] In November 2012, Pfizer received approval from the Food and Drug Administration for Xeljanz, a tofacitinib, for rheumatoid arthritis and ulcerative colitis.[62] The drug had sales of $1.77 billion in 2018, and in January 2019, it was the top drug in the United States for direct-to-consumer advertising, passing adalimumab (Humira).[63]

On February 1, 2013, Zoetis, the Agriculture Division of Pfizer and later Pfizer Animal Health, became a public company via an initial public offering, raising $2.2 billion.[64][65][66][67] Later in 2013, Pfizer completed the corporate spin-off of its remaining stake in Zoetis.[68][69]

In September 2014, the company acquired Innopharma for $225 million, plus up to $135 million in milestone payments, in a deal that expanded Pfizer's range of generic and injectable drugs.[70][71]

On January 5, 2015, the company announced it would acquire a controlling interest in Redvax, expanding its vaccine portfolio targeting human cytomegalovirus.[72] In February 2015, the company received approval from the Food and Drug Administration for palbociclib (Ibrance) for treatment of certain types of breast cancer.[73][74] In March 2015, the company announced it would restart its collaboration with Eli Lilly and Company surrounding the Phase III trial of Tanezumab.[75] In May 2015, Pfizer and a Bar-Ilan University laboratory announced a partnership based on the development of medical DNA nanotechnology.[76] In June 2015, the company acquired Nimenrix and Mencevax, meningococcal vaccines, from GlaxoSmithKline for around $130 million.[77] In September 2015, Pfizer acquired Hospira for $17 billion, including the assumption of debt.[78][79][80][81][82][83] Hospira was the largest producer of generic injectable pharmaceuticals in the world.[84] On November 23, 2015, Pfizer and Allergan announced a planned $160 billion merger, in the largest pharmaceutical deal ever and the third largest corporate merger in history. The proposed transaction contemplated that the merged company maintain Allergan's Republic of Ireland domicile, resulting in the new company being subject to corporation tax at the relatively low rate of 12.5%.[85] The deal was to constitute a reverse merger, whereby Allergan acquired Pfizer, with the new company then changing its name to "Pfizer, plc".[86][87][88] On April 6, 2016, Pfizer and Allergan terminated the merger agreement after the Obama administration and the United States Department of the Treasury introduced new laws intended to limit corporate inversions (the extent to which companies could move their headquarters overseas in order to reduce the amount of taxes they pay).[89][90]

In June 2016, the company acquired Anacor Pharmaceuticals for $5.2 billion, expanding its portfolio in both inflammation and immunology drugs areas.[91][92] In August 2016, the company made a $40 million bid for the assets of BIND Therapeutics, which was in bankruptcy.[93] The same month, the company acquired Bamboo Therapeutics for $645 million, expanding its gene therapy offerings.[94] In September 2016, the company acquired cancer drug-maker Medivation for $14 billion.[95][96][97] In October 2016, the company licensed the anti-CTLA4 monoclonal antibody, ONC-392, from OncoImmune.[98][99] In November 2016, Pfizer funded a $3,435,600 study with the CDC Foundation to research "screen-and-treat" strategies for cryptococcal disease in Botswana.[100] In December 2016, Pfizer acquired AstraZeneca's small-molecule antibiotics business for $1.575 billion.[101][102][103]

In January 2018, Pfizer announced that it would end its work on research into treatments for Alzheimer's disease and Parkinsonism (a symptom of Parkinson's disease and other conditions). The company said about 300 researchers would lose their jobs.[104] In July 2018, the Food and Drug Administration approved enzalutamide, developed by Pfizer and Astellas Pharma for patients with castration-resistant prostate cancer.[105] In August 2018, Pfizer signed an agreement with BioNTech to conduct joint research and development activities regarding mRNA-based influenza vaccines.[106] In October 2018, effective January 1, 2019, Albert Bourla was promoted to chief executive officer, succeeding Ian Read, his mentor.[107][108][109][110]

 
Viatris Pharmaceutical Plant in Istanbul, Ortaköy. Plant was under Pfizer brand until Upjohn and Mylan merging.

In July 2019, the company acquired Therachon for up to $810 million, expanding its rare disease portfolio through Therachon's recombinant human fibroblast growth factor receptor 3 compound, aimed at treating conditions such as achondroplasia.[111] Also in July, Pfizer acquired Array Biopharma for $10.6 billion, boosting its oncology pipeline.[112] In August 2019, Pfizer merged its consumer health business with that of GlaxoSmithKline, into a joint venture owned 68% by GlaxoSmithKline and 32% by Pfizer, with plans to make it a public company. The transaction built on a 2018 transaction where GlaxoSmithKline acquired Novartis' stake in the GSK-Novartis consumer healthcare joint business.[113] The transaction followed negotiations with other companies including Reckitt Benckiser,[114] Sanofi, Johnson & Johnson,[115] and Procter & Gamble.[116] In September 2019, Pfizer initiated a study with the CDC Foundation to investigate the tracking of healthcare-associated infections, scheduled to run through to June 2023.[100] In December 2019, Pfizer awarded the CDC Foundation a further $1,948,482 to continue its cryptococcal disease screening and treatment research in nine African countries.[100]

In September 2020, the company acquired a 9.9% stake in CStone Pharmaceuticals for $200 million (HK$1.55 billion), helping to commercialise its anti-PD-L1 monoclonal antibody, CS1001.[117] In October 2020, the company acquired Arixa Pharmaceuticals.[118] In November 2020, using a Reverse Morris Trust structure, Pfizer merged its off-patent branded and generic drug business, known as Upjohn, with Mylan to form Viatris, owned 57% by Pfizer shareholders.[119][120]

2021–onwards: Corporate developments and acquisitions edit

On January 5, 2021, Pfizer introduced a new logo.[121] In April 2021, Pfizer acquired Amplyx Pharmaceuticals and its anti-fungal compound fosmanogepix (APX001).[122][123] In August, the company announced it would acquire Trillium Therapeutics Inc and its immuno-oncology portfolio for $2.3 billion.[124][125]

In March 2022, the company acquired Arena Pharmaceuticals for $6.7 billion in cash.[126][127][128] In June 2022, the company acquired ReViral Ltd, for up to $525 million, gaining access to experimental drugs used to combat respiratory syncytial virus infections.[129][130] In October 2022, the company acquired Biohaven Pharma and its calcitonin gene-related peptide programs for $11.6 billion.[131][132][133] It also acquired Global Blood Therapeutics for $5.4 billion, boosting Pfizer's rare disease business.[134][135][136]

In March 2023, the company agreed to acquire Seagen for a total enterprise value of around $43 billion.[137] In this regard, the European Commission is conducting an antitrust investigation, which is necessary for the approval of the transaction.[138] On April 3, 2023, Pfizer announced that it had moved its world headquarters from its longtime home of six decades on 42nd Street in Midtown Manhattan to the Spiral at Hudson Yards.[139][57] In the same summer, Pfizer's important injectables manufacturing facility in Rocky Mount, North Carolina was hit by a tornado and had to close production for several weeks.[140]

Acquisition history edit

Pfizer acquisitions
  • Pfizer (Founded 1849 as Charles Pfizer & Company)
    • Warner–Lambert
      • William R. Warner (Founded 1856, merged 1955)
      • Lambert Pharmacal Company (Merged 1955)
      • Parke-Davis (Founded 1860, Acq 1976)
      • Wilkinson Sword (Acq 1993, divested 2003)
      • Agouron (Acq 1999)
    • Pharmacia (Acq 2002)
    • Esperion Therapeutics (Acq 2003, divested 2008)
    • Meridica (Acq 2004)
    • Vicuron Pharmaceuticals (Acq 2005)
    • Idun (Acq 2005)
    • Angiosyn (Acq 2005)
    • Powermed (Acq 2006)
    • Rinat (Acq 2006)
    • Coley Pharmaceutical Group (Acq 2007)
    • CovX (Acq 2007)
    • Encysive Pharmaceuticals Inc (Acq 2008)
    • Wyeth (Acq 2009)
    • King Pharmaceuticals (Acq 2010)
      • Monarch Pharmaceuticals, Inc.
      • King Pharmaceuticals Research and Development, Inc.
      • Meridian Medical Technologies, Inc.
      • Parkedale Pharmaceuticals, Inc.
      • King Pharmaceuticals Canada Inc.
      • Monarch Pharmaceuticals Ireland Limited
    • Synbiotics Corporation (Acq 2011)
    • Icagen (Acq 2011)
    • Ferrosan (Consumer Health div, Acq 2011)
    • Excaliard Pharmaceuticals (Acq 2011)
    • Alacer Corp (Acq 2012)
    • NextWave Pharmaceuticals, Inc (Acq 2012)
    • Innopharma (Acq 2014)
    • Redvax GmbH (Acq 2014)
    • Hospira (Spun off from Abbott Laboratories 2004, Acq 2015)
      • Mayne Pharma Ltd (Acq 2007)
      • Pliva-Croatia
      • Orchid Chemicals & Pharmaceuticals Ltd. (Generics & Injectables div, Acq 2009)
      • Javelin Pharmaceuticals, Inc. (Acq 2010)
      • TheraDoc (Acq 2010)
      • Arixa Pharmaceuticals (Acq 2020)
    • Anacor Pharmaceuticals(Acq 2016)
    • Bamboo Therapeutics (Acq 2016)
    • Medivation (Acq 2016)
    • AstraZeneca (Small molecule antibiotic div, Acq 2016)
    • Array BioPharma (Acq 2019)
    • Amplyx Pharmaceuticals (Acq 2021)
    • Trillium Therapeutics (Acq 2021)
    • Arena Pharmaceuticals (Acq 2022)
    • ReViral Ltd (Acq 2022)
    • Biohaven Pharma (Acq 2022)
      • Kleo Pharmaceuticals, Inc. (Acq 2021)
    • Seagen (Acq 2023)
      • Cascadian Therapeutics (Acq 2018)

COVID-19 edit

Pfizer has developed and launched several products in response to the COVID-19 pandemic, including the Pfizer–BioNTech COVID-19 vaccine and Paxlovid.

In March 2020, Pfizer joined the COVID-19 Therapeutics Accelerator funding vehicle to expedite development of treatments against COVID-19.[141][142] The $125 million initiative was launched by the Bill & Melinda Gates Foundation in partnership with Mastercard and Wellcome Trust, with additional funding announced shortly after from Chan Zuckerberg Initiative, UK Foreign, Commonwealth and Development Office and Madonna.[143][144]

The following month, the Foundation for the National Institutes of Health announced the Accelerating COVID-19 Therapeutic Interventions and Vaccines (ACTIV) public-private partnership to develop a coordinated research strategy for prioritizing and speeding up development of COVID-19 vaccines and pharmaceutical products.[145] Pfizer joined the partnership as an industry "leadership organization", and participated as a collaborator in ACTIV-led clinical trials.[146][147] CEO Albert Bourla attended the GAVI COVAX AMC 2021 Investment Opportunity Launch Event, otherwise named One World Protected, on April 15, 2021.[148]

In Canada, Pfizer endorsed the use of a vaccine passport mobile app developed by CANImmunize in order to record and track status of COVID-19 vaccination.[149]

COVID-19 pandemic and vaccine development edit

See also: Pfizer–BioNTech COVID-19 vaccine
Initial development and testing edit

As the scale of the COVID-19 pandemic became apparent, Pfizer partnered with BioNTech to study and develop COVID-19 mRNA vaccine candidates. Unlike many of its competitors, Pfizer took no initial research funds from the United States' Operation Warp Speed vaccine development program, instead choosing to invest roughly $2 billion of its own funds. Pfizer CEO Albert Bourla has said that he declined money from Operation Warp Speed to avoid government intervention, stating later that "when you get money from someone that always comes with strings. They want to see how we are going to progress, what type of moves you are going to do. They want reports. And also, I wanted to keep Pfizer out of politics, by the way."[150]

In May 2020, Pfizer began testing four different COVID-19 vaccine variations using lipid nanoparticle technology provided by Canadian biotechnology company Acuitas Therapeutics.[151] Vaccines were injected into the first human participants in the U.S. in early May. In July 2020, Pfizer and BioNTech announced that two of the partners' four mRNA vaccine candidates had won fast track designation from the FDA.[152] The company began Phase II-III testing on 30,000 people in the last week of July 2020 and was slated to be paid $1.95 billion for 100 million doses of the vaccine by the US government.[153] In September 2020, Pfizer and BioNTech announced that they had completed talks with the European Commission to provide an initial 200 million vaccine doses to the EU, with the option to supply another 100 million doses at a later date.[154]

Efficacy results and authorization edit
See also: Pfizer–BioNTech COVID-19 vaccine § Authorizations

On November 9, 2020, Pfizer announced that BioNTech's COVID-19 vaccine, tested on 43,500 people, was found to be 90% effective at preventing symptomatic COVID-19.[155] The efficacy was updated to 95% a week later.[156] Akiko Iwasaki, an immunologist interviewed by the New York Times, described the efficacy figure as "really a spectacular number."[157] The announcement made Pfizer and BioNTech the first companies to develop and test a working vaccine for COVID-19.[156]

Over the following month and a half, regulators in various countries approved Pfizer's vaccine for emergency use. The United Kingdom approved the vaccine first, on December 2,[158] followed by Bahrain on December 4,[159] Canada on December 9,[160] and Saudi Arabia on December 10.[161] On December 10, 2020, the United States FDA held an advisory committee meeting to discuss authorization of the vaccine.[162] The next day, the US officially became the 5th country to approve use of Pfizer's vaccine under an Emergency Use Authorization (EUA), with an independent panel voting 17–4 in support of approval.[162][163] On December 14, Singapore became one of the first in Asia to approve the vaccine through the Health Sciences Authority.[164] On December 21, the European Medicines Agency (EMA) recommended granting a conditional marketing authorisation for the vaccine in the European Union, under the brand name "Comirnaty."[165]

Manufacturing and distribution edit
See also: Pfizer–BioNTech COVID-19 vaccine § Manufacturing, and Deployment of COVID-19 vaccines

As of early May 2021, Pfizer and BioNTech had manufactured at least 430 million vaccine doses, which have been distributed to 91 countries and territories. The companies have said they expect to manufacture nearly 3 billion total vaccine doses in 2021.[166] Pfizer provided 0.9% Sodium chloride Injection USP diluent for use with the Pfizer–BioNTech COVID-19 vaccine under the name of its subsidiary, Hospira.[167] Pfizer also purchased large quantities of single-use medical and surgical gloves and protective bodysuits from Ansell during the process, contributing to a doubling of the supplier's manufacturing capacity.[168]

Controversy edit

In February 2021, after a year long investigation relying on unnamed officials, Pfizer was accused by The Bureau of Investigative Journalism (TBIJ) of employing "high-level bullying" against at least two Latin American countries during negotiations to acquire COVID-19 vaccines, including requesting that the countries put sovereign assets as collateral for payments.[169] According to TBIJ, these negotiation tactics resulted in a months long delay in Pfizer reaching a vaccine agreement with one country and a complete failure to reach agreements with two other countries, including Argentina and Brazil.[169]

On 2 November 2021, TBMJ published an article after obtaining information from a whistleblower from the Ventavia Research Group. Ventavia was hired by Pfizer as a research subcontractor. A regional director (whistleblower) who was employed at Ventavia Research Group has told The BMJ that the company falsified data, unblinded patients, employed inadequately trained vaccinators, and was slow to follow up on adverse events reported in Pfizer's pivotal phase III trial. The regional director, Brook Jackson, emailed a complaint to the US Food and Drug Administration (FDA). Ventavia fired her later the same day.[170] The European Medicines Agency (EMA) stated in a response to the European Parliament, that "the deficiencies identified do not jeopardize the quality and integrity of the data from the main Comirnaty trial and have no impact on the benefit-risk assessment or on the conclusions on the safety, effectiveness and quality of the vaccine".[171] Science-Based Medicine emphasized that Ventavia oversaw just three of the 153 clinical sites involved with Pfizer's trial and "a small fraction (~1,000 by the time the whistleblower was fired) of the trial's over ~44,000 subjects."[172]

On 10 October 2022, during a session of the European Parliament's Special Committee on the COVID-19 Pandemic, Pfizer executive Janine Small testified that the company had not evaluated their COVID-19 vaccine for its ability to reduce transmission of the SARS-CoV-2 virus prior to its release to the general public.[173][174] Dutch MEP Rob Roos described the admission as "scandalous".[175] CEO Albert Bourla was slated to attend, but withdrew.[176] Roos' statements in turn have been described as "misleading".[177]

Development of oral antivirals edit

In November 2021, Pfizer launched a new COVID-19 oral antivirus treatment known as Paxlovid. In January 2022, the Pfizer CEO Albert Bourla confirmed that the trial results of a fourth dose were pending until March 2022. He said that the firm was setting up a collaboration to develop an anti-COVID pill treatment along with a French company, Novasep. He also said the COVID vaccine was "safe and efficient" for children.[178][179] In May 2022, reports emerged of patients experiencing "rebound" symptoms after completing a five-day course of Paxlovid.[180] The FDA responded by announcing they had performed additional analyses of the drug's clinical trial data, and decided against changing its recommendations.[181] U.S. President Joe Biden and Dr. Anthony Fauci were both reported to experience this rebound syndrome in the months that followed, while continuing to recommend the drug for those who may benefit from it.[182]

Legal issues edit

Aggressive pharmaceutical marketing edit

See also: List of largest pharmaceutical settlements and Franklin v. Parke-Davis

Pfizer has been accused of aggressive pharmaceutical marketing.[183][184][185]

Illegal marketing of gabapentin for off-label uses edit

In 1993, the Food and Drug Administration (FDA) approved gabapentin only for treatment of seizures. Warner–Lambert, which merged with Pfizer in 2000, used continuing medical education and medical research, sponsored articles about the drug for the medical literature, and alleged suppression of unfavorable study results, to promote gabapentin. Within five years, the drug was being widely used for off-label uses such as treatment of pain and psychiatric conditions. Warner–Lambert admitted to violating FDA regulations by promoting the drug for pain, psychiatric conditions, migraine, and other unapproved uses.[186] In 2004, the company paid $430 million in one of the largest settlements to resolve criminal and civil health care liability charges. It was the first off-label promotion case successfully brought under the False Claims Act.[187] A Cochrane review concluded that gabapentin is ineffective in migraine prophylaxis.[188] The American Academy of Neurology rates it as having unproven efficacy, while the Canadian Headache Society and the European Federation of Neurological Societies rate its use as being supported by moderate and low-quality evidence.[189]

Illegal marketing of Bextra edit

In September 2009, Pfizer pleaded guilty to the illegal marketing of arthritis drug valdecoxib (Bextra) and agreed to a $2.3 billion settlement, the largest health care fraud settlement at that time.[190] Pfizer promoted the sale of the drug for several uses and dosages that the Food and Drug Administration specifically declined to approve due to safety concerns. The drug was pulled from the market in 2005.[191] It was Pfizer's fourth such settlement in a decade.[192][193][194] The payment included $1.195 billion in criminal penalties for felony violations of the Federal Food, Drug, and Cosmetic Act, and $1.0 billion to settle allegations it had illegally promoted the drugs for uses that were not approved by the Food and Drug Administration (FDA) leading to violations under the False Claims Act as reimbursements were requested from Federal and State programs. The criminal fine was the largest ever assessed in the United States to date.[192][193][194] Pfizer entered a corporate integrity agreement with the Office of Inspector General that required it to make substantial structural reforms within the company, and publish to its website its post approval commitments and a searchable database of all payments to physicians made by the company.[195]

Termination of Peter Rost edit

Peter Rost was vice president in charge of the endocrinology division at Pharmacia before its acquisition by Pfizer. During that time he raised concerns internally about kickbacks and off-label marketing of Genotropin, Pharmacia's human growth hormone drug. Pfizer reported the Pharmacia marketing practices to the FDA and Department of Justice; Rost was unaware of this and filed an FCA lawsuit against Pfizer. Pfizer kept him employed, but isolated him until the FCA suit was unsealed in 2005. The Justice Department declined to intervene, and Pfizer fired him, and he filed a wrongful termination suit against Pfizer. Pfizer won a summary dismissal of the case, with the court ruling that the evidence showed Pfizer had decided to fire Rost prior to learning of his whistleblower activities.[196][197]

Illegal marketing of Rapamune edit

A "whistleblower suit" was filed in 2005 against Wyeth, which was acquired by Pfizer in 2009, alleging that the company illegally marketed sirolimus (Rapamune) for off-label uses, targeted specific doctors and medical facilities to increase sales of Rapamune, tried to get transplant patients to change from their transplant drugs to Rapamune, and specifically targeted African-Americans. According to the whistleblowers, Wyeth also provided doctors and hospitals that prescribed the drug with kickbacks such as grants, donations, and other money.[198] In 2013, the company pleaded guilty to criminal mis-branding violations under the Federal Food, Drug, and Cosmetic Act. By August 2014, it had paid $491 million in civil and criminal penalties related to Rapamune.[199]

Illegal marketing edit

In June 2010, health insurance network Blue Cross Blue Shield (BCBS) filed a lawsuit against Pfizer for allegedly illegally marketing drugs Bextra, Geodon and Lyrica. BCBS alleged that Pfizer used kickbacks and wrongly persuaded doctors to prescribe the drugs.[200][201] According to the lawsuit, Pfizer handed out 'misleading' materials on off-label uses, sent over 5,000 doctors on trips to the Caribbean or around the United States, and paid them $2,000 honoraria in return for listening to lectures about Bextra.[202][203] Despite Pfizer's claims that "the company's intent was pure" in fostering a legal exchange of information among doctors, an internal marketing plan revealed that Pfizer intended to train physicians "to serve as public relations spokespeople."[204] The case was settled in 2014 for $325 million.[205] Fearing that Pfizer is "too big to fail" and that prosecuting the company would result in disruptions to Medicare and Medicaid, federal prosecutors instead charged a subsidiary of a subsidiary of a subsidiary of Pfizer, which is "nothing more than a shell company whose only function is to plead guilty."[204]

Quigley Company asbestos edit

The Quigley Company, which sold asbestos-containing insulation products until the early 1970s, was acquired by Pfizer in 1968. In June 2013, asbestos victims and Pfizer negotiated a settlement that required Pfizer to pay a total of $964 million: $430 million to 80% of existing plaintiffs and place an additional $535 million into a settlement trust that will compensate future plaintiffs as well as the remaining 20% of plaintiffs with claims against Pfizer and Quigley. Of that $535 million, $405 million is in a 40-year note from Pfizer, while $100 million is from insurance policies.[206]

Shiley defective heart valves edit

Pfizer purchased Shiley in 1979, at the onset of its Convexo-Concave valve ordeal, involving the Bjork–Shiley valve. Approximately 500 people died when defective heart valves fractured and, in 1994, Pfizer agreed to pay $10.75 million to settle claims by the United States Department of Justice that the company lied to get approval for the valves.[207]

Firing of employee that filed suit edit

A federal lawsuit was filed by a scientist claiming she got an infection by a genetically modified lentivirus while working for Pfizer, resulting in intermittent paralysis.[208] A judge dismissed the case citing a lack of evidence that the illness was caused by the virus but the jury ruled that by firing the employee, Pfizer violated laws protecting freedom of speech and whistleblowers and awarded her $1.37 million.[209]

Celebrex intellectual property edit

Brigham Young University (BYU) said a professor of chemistry, Dr. Daniel L. Simmons, discovered an enzyme in the 1990s that led towards development of Celebrex. BYU was originally seeking a 15% royalty on sales, equating to $9.7 billion. A research agreement had been made between BYU and Monsanto, whose pharmaceutical business was later acquired by Pfizer, to develop a better aspirin. The enzyme Dr. Simmons claims to have discovered would induce pain and inflammation while causing gastrointestinal problems and Celebrex is used to reduce those issues. A six-year battle ensued because BYU claimed that Pfizer did not give Dr. Simmons credit or compensation, while Pfizer claimed that it had met all obligations regarding the Monsanto agreement. In May 2012, Pfizer settled the allegations, agreeing to pay $450 million.[210]

Nigeria Trovafloxacin lawsuit edit

Main article: Abdullahi v. Pfizer, Inc.

In 1996, an outbreak of measles, cholera, and bacterial meningitis occurred in Nigeria. Pfizer representatives and personnel from a contract research organization (CRO) traveled to Kano to set up a clinical trial and administer an experimental antibiotic, trovafloxacin, to approximately 200 children.[211] Local Kano officials reported that more than fifty children died in the experiment, while many others developed mental and physical deformities.[212] The nature and frequency of both fatalities and other adverse outcomes were similar to those historically found among pediatric patients treated for meningitis in sub-Saharan Africa.[213] In 2001, families of the children, as well as the governments of Kano and Nigeria, filed lawsuits regarding the treatment.[214] According to Democracy Now!, "[r]esearchers did not obtain signed consent forms, and medical personnel said Pfizer did not tell parents their children were getting the experimental drug."[215] The lawsuits also accused Pfizer of using the outbreak to perform unapproved human testing, as well as allegedly under-dosing a control group being treated with traditional antibiotics in order to skew the results of the trial in favor of Trovan. Nigerian medical personnel as well as at least one Pfizer physician said the trial was conducted without regulatory approval.[216][217]

In 2007, Pfizer published a Statement of Defense letter, stating that the drug's oral form was safer and easier to administer. Trovan had been used safely in more than five thousand Americans prior to the Nigerian trial, and mortality in the patients treated by Pfizer was lower than that observed historically in African meningitis epidemics. No unusual side effects, unrelated to meningitis, were observed after four weeks.[218]

In June 2010, the US Supreme Court rejected Pfizer's appeal against a ruling allowing lawsuits by the Nigerian families to proceed.[219]

In December 2010, the United States diplomatic cables leak indicated that Pfizer hired investigators to find evidence of corruption against Nigerian attorney general Michael Aondoakaa to persuade him to drop legal action.[220] The Washington Post reporter Joe Stephens, who helped break the story in 2000, called these actions "dangerously close to blackmail".[215] In response, the company released a press statement describing the allegations as "preposterous" and saying that it acted in good faith.[221] Aondoakka, who had allegedly demanded bribes from Pfizer in return for a settlement of the case,[222] was declared unfit for office and had his U.S. visa revoked in association with corruption charges in 2010.[223][224]

The lawsuits were eventually settled out of court. Pfizer committed to paying US$35 million "to compensate the families of children in the study", another US$30 million to "support healthcare initiatives in Kano", and $10 million to cover legal costs. Payouts began in 2011.[225]

Inflating Prices edit

In July 2022, UK antitrust authorities fined Pfizer £63 million for unfairly high priced drug that aids in controlling epileptic seizures. The Competition and Markets Authority stated that the company took advantage of loopholes by de-branding epilepsy drug Epanutin, by doing so the price of Epanutin's price was not regulated to the same standards the company are used to and therefore the price of the drug was raised. It was stated that over a four-year period, Pfizer had billed Epanutin for around 780% and 1,600% higher than its standard price.[226]

Allegations of patent infringement on mRNA technology edit

In August 2022, Moderna announced that it will sue Pfizer and its partner BioNTech for infringing their patent on the mRNA technology.[227]

Environmental record edit

Since 2000, the company has implemented more than 4,000 greenhouse gas reduction projects.[228]

In 2012, the company was named to the Carbon Disclosure Project's Carbon Leadership Index in recognition of its efforts to reduce greenhouse gas emissions.[229]

Pfizer has inherited Wyeth's liabilities in the American Cyanamid site in Bridgewater Township, New Jersey, a highly toxic EPA Superfund site. Pfizer has since attempted to remediate this land in order to clean and develop it for future profits and potential public uses.[230] The Sierra Club and the Edison Wetlands Association have opposed the cleanup plan, arguing that the area is subject to flooding, which could cause pollutants to leach. The EPA considers the plan the most reasonable from considerations of safety and cost-effectiveness, arguing that an alternative plan involving trucking contaminated soil off site could expose cleanup workers. The EPA's position is backed by the environmental watchdog group CRISIS.[231]

In June 2002, a chemical explosion at the Groton plant injured 7 people and caused the evacuation of more than 100 homes in the surrounding area.[232]

Public-private engagement edit

Pfizer engages with the public and private sectors in a variety of settings including to promote research and development, academic funding, event sponsorship, philanthropy, and political lobbying.

Academia edit

Activism edit

Conferences and summits edit

  • Women in Medicine Summit - Sponsor.[243]
  • World Neuroscience Innovation Forum - Strategic partner.[244]

Media edit

During the COVID-19 pandemic, Pfizer engaged many forms of media to promote their COVID-19 vaccine, including a commissioned National Geographic documentary.[245] Pfizer is also a donor to the National Geographic Society.[246]

Pfizer was a prominent sponsor of the 2022 Oscars ceremony alongside BioNTech.[247]

Pfizer has been a major donor to the National Press Foundation.[248][249] Pfizer sponsored a program for the NPF called "Cancer Issues 2010" to train journalists to "understand the latest research" on various cancers, including the role of pharmaceutical products and vaccines. MicroRNA (miRNA) was also a listed topic.[250][251]

Pfizer sponsors 19 to Zero, a "coalition of academics, public health experts, behavioural economists, and creative professionals" that develops media and educational materials to influence public perception surrounding COVID-19 and COVID-19 vaccines.[252]

Medical societies edit

Political lobbying edit

Pfizer is affiliated with a variety of industry organizations engaging in political lobbying, and has made substantial direct donations to government and regulatory agencies:

Scott Gottlieb, who resigned as FDA commissioner in April 2019, joined the Pfizer board of directors three months later, in July 2019.[296]

Pfizer lobbied various officials in the Government of British Columbia between April and November 2012, including then-premier Christy Clark, future premier John Horgan, future health minister Adrian Dix, and future deputy premier, minister of public safety and solicitor general Mike Farnworth. The disclosed purpose was to "provide health policy and pharmaceutical information and communications on behalf of Pfizer Canada," and "learn and understand the budgetary, policy and strategic directions of the Government."[297]

Professional associations edit

Public health edit

Pfizer has engaged in a number of public health and global health initiatives worldwide, and provides funding for health care facilities of various specialties in Canada and the United States:

Pfizer sponsored a presentation in January 2020 delivered by Julie Bettinger through British Columbia's Provincial Health Services Authority (PHSA) titled "Vaccine hesitancy: It doesn't matter if the vaccine works if nobody gets it."[256][329]

In 2020, Pfizer provided funding in the range of $100,000.00 - $250,000.00 to Ronald McDonald House Charities “to provide resources that directly improve the health and well-being of children and their families.”[330]

Research and development edit

Pfizer has partnered with and sponsored many medical research networks and professional associations in the United States, Canada and globally:

See also edit

References edit

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December 31, 2023
pfizer, covid, vaccine, biontech, covid, vaccine, other, uses, disambiguation, 75028, 97250, 75028, 97250, typepublictraded, asnyse, pfes, components, componentindustrypharmaceuticalbiotechnologyfounded1849, years, 1849, york, cityfounderscharles, charles, erh. For the COVID 19 vaccine see Pfizer BioNTech COVID 19 vaccine For other uses see Pfizer disambiguation 40 45 01 N 73 58 21 W 40 75028 N 73 97250 W 40 75028 73 97250 Pfizer Inc TypePublicTraded asNYSE PFES amp P 100 componentS amp P 500 componentIndustryPharmaceuticalBiotechnologyFounded1849 174 years ago 1849 in New York CityFoundersCharles PfizerCharles F ErhartHeadquartersThe Spiral New York City U S Area servedWorldwideKey peopleAlbert Bourla CEO ProductsPharmaceutical drugsvaccinesRevenueUS 100 3 billion 2022 Operating incomeUS 31 40 billion 2022 Net incomeUS 31 37 billion 2022 Total assetsUS 197 2 billion 2022 Total equityUS 95 66 billion 2022 Number of employeesc 83 000 2022 Websitepfizer wbr comFootnotes references 1 Former corporate logos until 2021 The headquarters of Pfizer in Tokyo JapanPfizer Inc ˈ f aɪ z er FY zer 2 is an American multinational pharmaceutical and biotechnology corporation headquartered at The Spiral in Manhattan New York City The company was established in 1849 in New York by two German entrepreneurs Charles Pfizer 1824 1906 and his cousin Charles F Erhart 1821 1891 Pfizer develops and produces medicines and vaccines for immunology oncology cardiology endocrinology and neurology The company s largest products by sales are the Pfizer BioNTech COVID 19 vaccine 37 billion in 2022 revenues Nirmatrelvir ritonavir 18 billion in 2022 revenues Apixaban 6 billion in 2022 revenues a pneumococcal conjugate vaccine 6 billion in 2022 revenues and Palbociclib 5 billion in 2022 revenues 1 In 2022 42 of the company s revenues came from the United States 8 came from Japan and 50 came from other countries 1 Pfizer was a component of the Dow Jones Industrial Average stock market index from 2004 to August 2020 3 4 5 6 The company ranks 38th on the Fortune 500 7 and 39th on the Forbes Global 2000 8 Contents 1 History 1 1 1849 1950 Early history 1 2 1950 1980 Pivot to pharmaceutical research and global expansion 1 3 1980 2000 Development of Viagra Zoloft and Lipitor 1 4 2000 2010 Further expansion 1 4 1 Acquisitions and mergers 1 5 2010 2020 Further discoveries and acquisitions 1 6 2021 onwards Corporate developments and acquisitions 1 7 Acquisition history 1 8 COVID 19 1 8 1 COVID 19 pandemic and vaccine development 1 8 1 1 Initial development and testing 1 8 1 2 Efficacy results and authorization 1 8 1 3 Manufacturing and distribution 1 8 1 4 Controversy 1 8 2 Development of oral antivirals 2 Legal issues 2 1 Aggressive pharmaceutical marketing 2 1 1 Illegal marketing of gabapentin for off label uses 2 1 2 Illegal marketing of Bextra 2 1 3 Termination of Peter Rost 2 1 4 Illegal marketing of Rapamune 2 1 5 Illegal marketing 2 2 Quigley Company asbestos 2 3 Shiley defective heart valves 2 4 Firing of employee that filed suit 2 5 Celebrex intellectual property 2 6 Nigeria Trovafloxacin lawsuit 2 7 Inflating Prices 2 8 Allegations of patent infringement on mRNA technology 3 Environmental record 4 Public private engagement 4 1 Academia 4 2 Activism 4 3 Conferences and summits 4 4 Media 4 5 Medical societies 4 6 Political lobbying 4 7 Professional associations 4 8 Public health 4 9 Research and development 5 See also 6 References 7 External linksHistory edit nbsp Charles Pfizer 1824 1906 1849 1950 Early history edit Pfizer was founded in 1849 as Charles Pfizer amp Company by Charles Pfizer and Charles F Erhart 9 two cousins who had immigrated to the United States from Ludwigsburg Germany The business produced chemical compounds and was headquartered on Bartlett Street 10 in Williamsburgh New York where they produced an antiparasitic called santonin This was an immediate success although it was production of citric acid that led to Pfizer s growth in the 1880s Pfizer continued to buy property in the area by now the Williamsburg district of the city of Brooklyn New York and beginning in 1898 the City of Greater New York to expand its lab and factory retaining offices on Flushing Avenue until the 1960s the Brooklyn plant ultimately closed in 2009 11 Following their success with citric acid Pfizer at the now demolished 295 Washington Avenue and Erhart at 280 Washington Avenue established their main residences in the nearby Clinton Hill district known for its concentration of Gilded Age wealth In 1881 Pfizer moved its administrative headquarters to 81 Maiden Lane in Manhattan presaging the company s expansion to Chicago a year later 10 12 By 1906 sales exceeded 3 million 13 World War I caused a shortage of calcium citrate which Pfizer imported from Italy for the manufacture of citric acid and the company began a search for an alternative supply Pfizer chemists learned of a fungus that ferments sugar to citric acid and they were able to commercialize production of citric acid from this source in 1919 The company developed expertise in fermentation technology as a result These skills were applied to the deep submergence mass production of penicillin an antibiotic during World War II in response to the need to treat injured Allied soldiers 14 The company also embarked on a global soil collection program related to improving production yields of penicillin which ultimately resulted in 135 000 samples 15 On June 2 1942 the company incorporated in Delaware 1 1950 1980 Pivot to pharmaceutical research and global expansion edit Due to price declines for penicillin Pfizer searched for new antibiotics with greater profit potential Pfizer discovered oxytetracycline in 1950 and this changed the company from a manufacturer of fine chemicals to a research based pharmaceutical company Pfizer developed a drug discovery program focused on in vitro synthesis to augment its research in fermentation technology In 1959 the company established an animal health division with a 700 acre 2 8 km2 farm and research facility in Terre Haute Indiana 14 By the 1950s Pfizer had established offices in Belgium Brazil Canada Cuba Mexico Panama Puerto Rico and the United Kingdom In 1960 the company moved its medical research laboratory operations out of New York City to a new facility in Groton Connecticut In 1980 Pfizer launched Feldene piroxicam a prescription anti inflammatory medication that became Pfizer s first product to reach 1 billion in revenue 13 In 1965 John Powers Jr became chief executive officer of the company succeeding John McKeen 13 As the area surrounding its Brooklyn plant fell into decline in the 1970s and 1980s the company formed a public private partnership with New York City that encompassed the construction of low and middle income housing the refurbishment of apartment buildings for the homeless and the establishment of a charter school 12 In 1972 Edmund T Pratt Jr became chief executive officer of the company succeeding John Powers Jr 13 1980 2000 Development of Viagra Zoloft and Lipitor edit In 1981 the company received approval for Diflucan fluconazole the first oral treatment for severe fungal infections including candidiasis blastomycosis coccidiodomycosis cryptococcosis histoplasmosis dermatophytosis and pityriasis versicolor 16 In 1986 Pfizer acquired the worldwide rights to Zithromax azithromycin a macrolide antibiotic that is recommended by the Infectious Disease Society of America as a first line treatment for certain cases of community acquired pneumonia from Pliva 17 18 In 1989 Pfizer scientists Peter Dunn and Albert Wood created Viagra sildenafil for treating high blood pressure and angina a chest pain associated with coronary artery disease In 1991 it was patented in the United Kingdom as a heart medication Early trials for the medication showed that it did not work for the treatment of heart disease but volunteers in the clinical trials had increased erections several days after taking the drug It was patented in the United States in 1996 and received approval by the Food and Drug Administration in March 1998 In December 1998 Pfizer hired Bob Dole as a spokesperson for the drug 19 The patents for Viagra expired in 2020 20 In 1991 William C Steere Jr became chief executive officers of the company succeeding Edmund T Pratt Jr 21 In 1991 Pfizer also began marketing Zoloft sertraline an antidepressant of the selective serotonin reuptake inhibitor SSRI class developed nine years earlier by Pfizer chemists Kenneth Koe and Willard Welch Sertraline is primarily prescribed for major depressive disorder in adult outpatients as well as obsessive compulsive disorder panic disorder and social anxiety disorder in both adults and children In 2005 the year before it became a generic drug sales were over 3 billion and over 100 million people had been treated with the drug 22 The patent for Zoloft expired in the summer of 2006 23 In 1996 Eisai in partnership with Pfizer received approval from the Food and Drug Administration for donepezil under the brand Aricept for treatment of Alzheimer s disease 24 Pfizer also received approval for Norvasc amlodipine an antihypertensive drug of the dihydropyridine calcium channel blocker class 25 nbsp Bottles of Zoloft sertraline an antidepressantIn 1997 the company entered into a co marketing agreement with Warner Lambert for Lipitor atorvastatin a statin for the treatment of hypercholesterolemia Although atorvastatin was the fifth statin to be developed clinical trials showed that atorvastatin caused a more dramatic reduction in low density lipoprotein pattern C LDL C than the other statin drugs Upon its patent expiration in 2011 Lipitor was the best selling drug ever with approximately 125 billion in sales over 14 5 years 26 2000 2010 Further expansion edit In 2001 Henry McKinnell became chief executive officer of the company replacing William C Steere Jr 27 In 2002 The Bill amp Melinda Gates Foundation purchased stock in Pfizer 28 In 2004 the company received approval for Lyrica pregabalin an anticonvulsant and anxiolytic medication used to treat epilepsy neuropathic pain fibromyalgia restless leg syndrome and generalized anxiety disorder 29 30 31 The United States patent on Lyrica was challenged by generic manufacturers and was upheld in 2014 extending the expiration date to 2018 32 In July 2006 Jeff Kindler was named chief executive officer of the company replacing Henry McKinnell 27 33 On December 3 2006 Pfizer ceased development of torcetrapib a drug that increases production of HDL which reduces LDL thought to be correlated to heart disease During a Phase III clinical trial involving 15 000 patients more deaths than expected occurred in the group that took the medicine and the mortality rate of patients taking the combination of torcetrapib and Lipitor 82 deaths during the study was 60 higher than those taking Lipitor alone 52 deaths during the study Lipitor alone was not implicated in the results but Pfizer lost nearly 1 billion developing the failed drug and its stock price dropped 11 on the day of the announcement 34 35 36 37 Between 2007 and 2010 Pfizer spent 3 3 million on investigations and legal fees and recovered about 5 1 million and had another 5 million of pending recoveries from civil lawsuits against makers of counterfeit prescription drugs Pfizer has hired customs and narcotics experts worldwide to track down fakes and assemble evidence that can be used to pursue civil suits for trademark infringement 38 In July 2008 Pfizer announced 275 job cuts at its manufacturing facility in Kalamazoo Michigan Kalamazoo was previously the world headquarters of Upjohn Company which had been acquired as part of Pharmacia 39 40 Acquisitions and mergers edit In June 2000 Pfizer acquired Warner Lambert outright for 116 billion To satisfy conditions imposed by antitrust regulators at the Federal Trade Commission Pfizer sold off or transferred stakes in several minor products including RID a shampoo for treatment of head lice sold to Bayer and Warner Lambert s antidepressant Celexa which competes with Zoloft 41 The acquisition created what was at the time the second largest pharmaceutical company worldwide 42 In 2003 Pfizer merged with Pharmacia and in the process acquired Searle and SUGEN Searle had developed Flagyl metronidazole a nitroimidazole antibiotic medication used particularly for anaerobic bacteria and protozoa 40 43 Searle also developed celecoxib Celebrex a COX 2 inhibitor and nonsteroidal anti inflammatory drug NSAID used to treat the pain and inflammation in osteoarthritis acute pain in adults rheumatoid arthritis ankylosing spondylitis painful menstruation and juvenile rheumatoid arthritis 44 SUGEN a company focused on protein kinase inhibitors had pioneered the use of ATP mimetic small molecules to block signal transduction The SUGEN facility was shut down in 2003 by Pfizer with the loss of more than 300 jobs and several programs were transferred to Pfizer These included sunitinib Sutent a cancer medication which was approved for human use by the FDA in January 2006 45 46 A related compound SU11654 Toceranib was also approved for cancer in dogs and the ALK inhibitor Crizotinib also grew out of a SUGEN program 47 48 In October 2006 the company announced it would acquire PowerMed 49 On October 15 2009 Pfizer acquired Wyeth for 68 billion in cash and stock including the assumption of debt making Pfizer the largest pharmaceutical company in the world 50 51 52 53 54 The acquisition of Wyeth provided Pfizer with a pneumococcal conjugate vaccine trademarked Prevnar 13 this is used for the prevention of invasive pneumococcal infections The introduction of the original 7 valent version of the vaccine developed by Wyeth in February 2000 led to a 75 reduction in the incidence of invasive pneumococcal infections among children under age 5 in the United States Pfizer introduced an improved version of the vaccine in 2010 for which it was granted a patent in India in 2017 Prevnar 13 provides coverage of 13 bacterial variants expanding beyond the original 7 valent version 54 By 2012 the rate of invasive infections among children under age 5 had been reduced by an additional 50 55 56 2010 2020 Further discoveries and acquisitions edit nbsp Entrance to former Pfizer World Headquarters building 1961 2023 57 In 2010 Ian Read was named chief executive officer of the company 58 In February 2011 Pfizer announced the closure of its UK research and development facility formerly also a manufacturing plant in Sandwich Kent which at the time employed 2 400 people 59 In March 2011 Pfizer acquired King Pharmaceuticals for 3 6 billion in cash King produced emergency injectables such as the EpiPen 60 On September 4 2012 the FDA approved bosutinib Bosulif for chronic myelogenous leukemia CML a rare type of leukemia and a blood and bone marrow disease that affects primarily older adults 61 In November 2012 Pfizer received approval from the Food and Drug Administration for Xeljanz a tofacitinib for rheumatoid arthritis and ulcerative colitis 62 The drug had sales of 1 77 billion in 2018 and in January 2019 it was the top drug in the United States for direct to consumer advertising passing adalimumab Humira 63 On February 1 2013 Zoetis the Agriculture Division of Pfizer and later Pfizer Animal Health became a public company via an initial public offering raising 2 2 billion 64 65 66 67 Later in 2013 Pfizer completed the corporate spin off of its remaining stake in Zoetis 68 69 In September 2014 the company acquired Innopharma for 225 million plus up to 135 million in milestone payments in a deal that expanded Pfizer s range of generic and injectable drugs 70 71 On January 5 2015 the company announced it would acquire a controlling interest in Redvax expanding its vaccine portfolio targeting human cytomegalovirus 72 In February 2015 the company received approval from the Food and Drug Administration for palbociclib Ibrance for treatment of certain types of breast cancer 73 74 In March 2015 the company announced it would restart its collaboration with Eli Lilly and Company surrounding the Phase III trial of Tanezumab 75 In May 2015 Pfizer and a Bar Ilan University laboratory announced a partnership based on the development of medical DNA nanotechnology 76 In June 2015 the company acquired Nimenrix and Mencevax meningococcal vaccines from GlaxoSmithKline for around 130 million 77 In September 2015 Pfizer acquired Hospira for 17 billion including the assumption of debt 78 79 80 81 82 83 Hospira was the largest producer of generic injectable pharmaceuticals in the world 84 On November 23 2015 Pfizer and Allergan announced a planned 160 billion merger in the largest pharmaceutical deal ever and the third largest corporate merger in history The proposed transaction contemplated that the merged company maintain Allergan s Republic of Ireland domicile resulting in the new company being subject to corporation tax at the relatively low rate of 12 5 85 The deal was to constitute a reverse merger whereby Allergan acquired Pfizer with the new company then changing its name to Pfizer plc 86 87 88 On April 6 2016 Pfizer and Allergan terminated the merger agreement after the Obama administration and the United States Department of the Treasury introduced new laws intended to limit corporate inversions the extent to which companies could move their headquarters overseas in order to reduce the amount of taxes they pay 89 90 In June 2016 the company acquired Anacor Pharmaceuticals for 5 2 billion expanding its portfolio in both inflammation and immunology drugs areas 91 92 In August 2016 the company made a 40 million bid for the assets of BIND Therapeutics which was in bankruptcy 93 The same month the company acquired Bamboo Therapeutics for 645 million expanding its gene therapy offerings 94 In September 2016 the company acquired cancer drug maker Medivation for 14 billion 95 96 97 In October 2016 the company licensed the anti CTLA4 monoclonal antibody ONC 392 from OncoImmune 98 99 In November 2016 Pfizer funded a 3 435 600 study with the CDC Foundation to research screen and treat strategies for cryptococcal disease in Botswana 100 In December 2016 Pfizer acquired AstraZeneca s small molecule antibiotics business for 1 575 billion 101 102 103 In January 2018 Pfizer announced that it would end its work on research into treatments for Alzheimer s disease and Parkinsonism a symptom of Parkinson s disease and other conditions The company said about 300 researchers would lose their jobs 104 In July 2018 the Food and Drug Administration approved enzalutamide developed by Pfizer and Astellas Pharma for patients with castration resistant prostate cancer 105 In August 2018 Pfizer signed an agreement with BioNTech to conduct joint research and development activities regarding mRNA based influenza vaccines 106 In October 2018 effective January 1 2019 Albert Bourla was promoted to chief executive officer succeeding Ian Read his mentor 107 108 109 110 nbsp Viatris Pharmaceutical Plant in Istanbul Ortakoy Plant was under Pfizer brand until Upjohn and Mylan merging In July 2019 the company acquired Therachon for up to 810 million expanding its rare disease portfolio through Therachon s recombinant human fibroblast growth factor receptor 3 compound aimed at treating conditions such as achondroplasia 111 Also in July Pfizer acquired Array Biopharma for 10 6 billion boosting its oncology pipeline 112 In August 2019 Pfizer merged its consumer health business with that of GlaxoSmithKline into a joint venture owned 68 by GlaxoSmithKline and 32 by Pfizer with plans to make it a public company The transaction built on a 2018 transaction where GlaxoSmithKline acquired Novartis stake in the GSK Novartis consumer healthcare joint business 113 The transaction followed negotiations with other companies including Reckitt Benckiser 114 Sanofi Johnson amp Johnson 115 and Procter amp Gamble 116 In September 2019 Pfizer initiated a study with the CDC Foundation to investigate the tracking of healthcare associated infections scheduled to run through to June 2023 100 In December 2019 Pfizer awarded the CDC Foundation a further 1 948 482 to continue its cryptococcal disease screening and treatment research in nine African countries 100 In September 2020 the company acquired a 9 9 stake in CStone Pharmaceuticals for 200 million HK 1 55 billion helping to commercialise its anti PD L1 monoclonal antibody CS1001 117 In October 2020 the company acquired Arixa Pharmaceuticals 118 In November 2020 using a Reverse Morris Trust structure Pfizer merged its off patent branded and generic drug business known as Upjohn with Mylan to form Viatris owned 57 by Pfizer shareholders 119 120 2021 onwards Corporate developments and acquisitions edit On January 5 2021 Pfizer introduced a new logo 121 In April 2021 Pfizer acquired Amplyx Pharmaceuticals and its anti fungal compound fosmanogepix APX001 122 123 In August the company announced it would acquire Trillium Therapeutics Inc and its immuno oncology portfolio for 2 3 billion 124 125 In March 2022 the company acquired Arena Pharmaceuticals for 6 7 billion in cash 126 127 128 In June 2022 the company acquired ReViral Ltd for up to 525 million gaining access to experimental drugs used to combat respiratory syncytial virus infections 129 130 In October 2022 the company acquired Biohaven Pharma and its calcitonin gene related peptide programs for 11 6 billion 131 132 133 It also acquired Global Blood Therapeutics for 5 4 billion boosting Pfizer s rare disease business 134 135 136 In March 2023 the company agreed to acquire Seagen for a total enterprise value of around 43 billion 137 In this regard the European Commission is conducting an antitrust investigation which is necessary for the approval of the transaction 138 On April 3 2023 Pfizer announced that it had moved its world headquarters from its longtime home of six decades on 42nd Street in Midtown Manhattan to the Spiral at Hudson Yards 139 57 In the same summer Pfizer s important injectables manufacturing facility in Rocky Mount North Carolina was hit by a tornado and had to close production for several weeks 140 Acquisition history edit Pfizer acquisitionsPfizer Founded 1849 as Charles Pfizer amp Company Warner Lambert William R Warner Founded 1856 merged 1955 Lambert Pharmacal Company Merged 1955 Parke Davis Founded 1860 Acq 1976 Wilkinson Sword Acq 1993 divested 2003 Agouron Acq 1999 Pharmacia Acq 2002 Pharmacia amp Upjohn Merged 2000 Pharmacia Merged 1995 Farmitalia Carlo Erba Kabi Pharmacia Pharmacia Aktiebolaget The Upjohn Company Merged 1995 Monsanto Merged 2000 divested 2002 Searle Merged 2000 Esperion Therapeutics Acq 2003 divested 2008 Meridica Acq 2004 Vicuron Pharmaceuticals Acq 2005 Idun Acq 2005 Angiosyn Acq 2005 Powermed Acq 2006 Rinat Acq 2006 Coley Pharmaceutical Group Acq 2007 CovX Acq 2007 Encysive Pharmaceuticals Inc Acq 2008 Wyeth Acq 2009 Chef Boyardee Acq 1946 divested 1996 with food div S M A Corporation Ayerst Laboratories Acq 1943 Fort Dodge Serum Company Acq 1945 Bristol Myers Animal Health div Parke Davis Animal Health div A H Robins Sherwood Medical Acq 1982 Genetics Institute Inc Acq 1992 American Cyanamid Acq 1994 Lederle Laboratories Solvay Acq 1995 Animal Health div King Pharmaceuticals Acq 2010 Monarch Pharmaceuticals Inc King Pharmaceuticals Research and Development Inc Meridian Medical Technologies Inc Parkedale Pharmaceuticals Inc King Pharmaceuticals Canada Inc Monarch Pharmaceuticals Ireland Limited Synbiotics Corporation Acq 2011 Icagen Acq 2011 Ferrosan Consumer Health div Acq 2011 Excaliard Pharmaceuticals Acq 2011 Alacer Corp Acq 2012 NextWave Pharmaceuticals Inc Acq 2012 Innopharma Acq 2014 Redvax GmbH Acq 2014 Hospira Spun off from Abbott Laboratories 2004 Acq 2015 Mayne Pharma Ltd Acq 2007 Pliva Croatia Orchid Chemicals amp Pharmaceuticals Ltd Generics amp Injectables div Acq 2009 Javelin Pharmaceuticals Inc Acq 2010 TheraDoc Acq 2010 Arixa Pharmaceuticals Acq 2020 Anacor Pharmaceuticals Acq 2016 Bamboo Therapeutics Acq 2016 Medivation Acq 2016 AstraZeneca Small molecule antibiotic div Acq 2016 Array BioPharma Acq 2019 Amplyx Pharmaceuticals Acq 2021 Trillium Therapeutics Acq 2021 Arena Pharmaceuticals Acq 2022 ReViral Ltd Acq 2022 Biohaven Pharma Acq 2022 Kleo Pharmaceuticals Inc Acq 2021 Seagen Acq 2023 Cascadian Therapeutics Acq 2018 COVID 19 edit Pfizer has developed and launched several products in response to the COVID 19 pandemic including the Pfizer BioNTech COVID 19 vaccine and Paxlovid In March 2020 Pfizer joined the COVID 19 Therapeutics Accelerator funding vehicle to expedite development of treatments against COVID 19 141 142 The 125 million initiative was launched by the Bill amp Melinda Gates Foundation in partnership with Mastercard and Wellcome Trust with additional funding announced shortly after from Chan Zuckerberg Initiative UK Foreign Commonwealth and Development Office and Madonna 143 144 The following month the Foundation for the National Institutes of Health announced the Accelerating COVID 19 Therapeutic Interventions and Vaccines ACTIV public private partnership to develop a coordinated research strategy for prioritizing and speeding up development of COVID 19 vaccines and pharmaceutical products 145 Pfizer joined the partnership as an industry leadership organization and participated as a collaborator in ACTIV led clinical trials 146 147 CEO Albert Bourla attended the GAVI COVAX AMC 2021 Investment Opportunity Launch Event otherwise named One World Protected on April 15 2021 148 In Canada Pfizer endorsed the use of a vaccine passport mobile app developed by CANImmunize in order to record and track status of COVID 19 vaccination 149 COVID 19 pandemic and vaccine development edit See also Pfizer BioNTech COVID 19 vaccine Initial development and testing edit As the scale of the COVID 19 pandemic became apparent Pfizer partnered with BioNTech to study and develop COVID 19 mRNA vaccine candidates Unlike many of its competitors Pfizer took no initial research funds from the United States Operation Warp Speed vaccine development program instead choosing to invest roughly 2 billion of its own funds Pfizer CEO Albert Bourla has said that he declined money from Operation Warp Speed to avoid government intervention stating later that when you get money from someone that always comes with strings They want to see how we are going to progress what type of moves you are going to do They want reports And also I wanted to keep Pfizer out of politics by the way 150 In May 2020 Pfizer began testing four different COVID 19 vaccine variations using lipid nanoparticle technology provided by Canadian biotechnology company Acuitas Therapeutics 151 Vaccines were injected into the first human participants in the U S in early May In July 2020 Pfizer and BioNTech announced that two of the partners four mRNA vaccine candidates had won fast track designation from the FDA 152 The company began Phase II III testing on 30 000 people in the last week of July 2020 and was slated to be paid 1 95 billion for 100 million doses of the vaccine by the US government 153 In September 2020 Pfizer and BioNTech announced that they had completed talks with the European Commission to provide an initial 200 million vaccine doses to the EU with the option to supply another 100 million doses at a later date 154 Efficacy results and authorization edit See also Pfizer BioNTech COVID 19 vaccine Authorizations On November 9 2020 Pfizer announced that BioNTech s COVID 19 vaccine tested on 43 500 people was found to be 90 effective at preventing symptomatic COVID 19 155 The efficacy was updated to 95 a week later 156 Akiko Iwasaki an immunologist interviewed by the New York Times described the efficacy figure as really a spectacular number 157 The announcement made Pfizer and BioNTech the first companies to develop and test a working vaccine for COVID 19 156 Over the following month and a half regulators in various countries approved Pfizer s vaccine for emergency use The United Kingdom approved the vaccine first on December 2 158 followed by Bahrain on December 4 159 Canada on December 9 160 and Saudi Arabia on December 10 161 On December 10 2020 the United States FDA held an advisory committee meeting to discuss authorization of the vaccine 162 The next day the US officially became the 5th country to approve use of Pfizer s vaccine under an Emergency Use Authorization EUA with an independent panel voting 17 4 in support of approval 162 163 On December 14 Singapore became one of the first in Asia to approve the vaccine through the Health Sciences Authority 164 On December 21 the European Medicines Agency EMA recommended granting a conditional marketing authorisation for the vaccine in the European Union under the brand name Comirnaty 165 Manufacturing and distribution edit See also Pfizer BioNTech COVID 19 vaccine Manufacturing and Deployment of COVID 19 vaccines As of early May 2021 Pfizer and BioNTech had manufactured at least 430 million vaccine doses which have been distributed to 91 countries and territories The companies have said they expect to manufacture nearly 3 billion total vaccine doses in 2021 166 Pfizer provided 0 9 Sodium chloride Injection USP diluent for use with the Pfizer BioNTech COVID 19 vaccine under the name of its subsidiary Hospira 167 Pfizer also purchased large quantities of single use medical and surgical gloves and protective bodysuits from Ansell during the process contributing to a doubling of the supplier s manufacturing capacity 168 Controversy edit In February 2021 after a year long investigation relying on unnamed officials Pfizer was accused by The Bureau of Investigative Journalism TBIJ of employing high level bullying against at least two Latin American countries during negotiations to acquire COVID 19 vaccines including requesting that the countries put sovereign assets as collateral for payments 169 According to TBIJ these negotiation tactics resulted in a months long delay in Pfizer reaching a vaccine agreement with one country and a complete failure to reach agreements with two other countries including Argentina and Brazil 169 On 2 November 2021 TBMJ published an article after obtaining information from a whistleblower from the Ventavia Research Group Ventavia was hired by Pfizer as a research subcontractor A regional director whistleblower who was employed at Ventavia Research Group has told The BMJ that the company falsified data unblinded patients employed inadequately trained vaccinators and was slow to follow up on adverse events reported in Pfizer s pivotal phase III trial The regional director Brook Jackson emailed a complaint to the US Food and Drug Administration FDA Ventavia fired her later the same day 170 The European Medicines Agency EMA stated in a response to the European Parliament that the deficiencies identified do not jeopardize the quality and integrity of the data from the main Comirnaty trial and have no impact on the benefit risk assessment or on the conclusions on the safety effectiveness and quality of the vaccine 171 Science Based Medicine emphasized that Ventavia oversaw just three of the 153 clinical sites involved with Pfizer s trial and a small fraction 1 000 by the time the whistleblower was fired of the trial s over 44 000 subjects 172 On 10 October 2022 during a session of the European Parliament s Special Committee on the COVID 19 Pandemic Pfizer executive Janine Small testified that the company had not evaluated their COVID 19 vaccine for its ability to reduce transmission of the SARS CoV 2 virus prior to its release to the general public 173 174 Dutch MEP Rob Roos described the admission as scandalous 175 CEO Albert Bourla was slated to attend but withdrew 176 Roos statements in turn have been described as misleading 177 Development of oral antivirals edit In November 2021 Pfizer launched a new COVID 19 oral antivirus treatment known as Paxlovid In January 2022 the Pfizer CEO Albert Bourla confirmed that the trial results of a fourth dose were pending until March 2022 He said that the firm was setting up a collaboration to develop an anti COVID pill treatment along with a French company Novasep He also said the COVID vaccine was safe and efficient for children 178 179 In May 2022 reports emerged of patients experiencing rebound symptoms after completing a five day course of Paxlovid 180 The FDA responded by announcing they had performed additional analyses of the drug s clinical trial data and decided against changing its recommendations 181 U S President Joe Biden and Dr Anthony Fauci were both reported to experience this rebound syndrome in the months that followed while continuing to recommend the drug for those who may benefit from it 182 Legal issues editAggressive pharmaceutical marketing edit See also List of largest pharmaceutical settlements and Franklin v Parke Davis Pfizer has been accused of aggressive pharmaceutical marketing 183 184 185 Illegal marketing of gabapentin for off label uses edit In 1993 the Food and Drug Administration FDA approved gabapentin only for treatment of seizures Warner Lambert which merged with Pfizer in 2000 used continuing medical education and medical research sponsored articles about the drug for the medical literature and alleged suppression of unfavorable study results to promote gabapentin Within five years the drug was being widely used for off label uses such as treatment of pain and psychiatric conditions Warner Lambert admitted to violating FDA regulations by promoting the drug for pain psychiatric conditions migraine and other unapproved uses 186 In 2004 the company paid 430 million in one of the largest settlements to resolve criminal and civil health care liability charges It was the first off label promotion case successfully brought under the False Claims Act 187 A Cochrane review concluded that gabapentin is ineffective in migraine prophylaxis 188 The American Academy of Neurology rates it as having unproven efficacy while the Canadian Headache Society and the European Federation of Neurological Societies rate its use as being supported by moderate and low quality evidence 189 Illegal marketing of Bextra edit In September 2009 Pfizer pleaded guilty to the illegal marketing of arthritis drug valdecoxib Bextra and agreed to a 2 3 billion settlement the largest health care fraud settlement at that time 190 Pfizer promoted the sale of the drug for several uses and dosages that the Food and Drug Administration specifically declined to approve due to safety concerns The drug was pulled from the market in 2005 191 It was Pfizer s fourth such settlement in a decade 192 193 194 The payment included 1 195 billion in criminal penalties for felony violations of the Federal Food Drug and Cosmetic Act and 1 0 billion to settle allegations it had illegally promoted the drugs for uses that were not approved by the Food and Drug Administration FDA leading to violations under the False Claims Act as reimbursements were requested from Federal and State programs The criminal fine was the largest ever assessed in the United States to date 192 193 194 Pfizer entered a corporate integrity agreement with the Office of Inspector General that required it to make substantial structural reforms within the company and publish to its website its post approval commitments and a searchable database of all payments to physicians made by the company 195 Termination of Peter Rost edit Peter Rost was vice president in charge of the endocrinology division at Pharmacia before its acquisition by Pfizer During that time he raised concerns internally about kickbacks and off label marketing of Genotropin Pharmacia s human growth hormone drug Pfizer reported the Pharmacia marketing practices to the FDA and Department of Justice Rost was unaware of this and filed an FCA lawsuit against Pfizer Pfizer kept him employed but isolated him until the FCA suit was unsealed in 2005 The Justice Department declined to intervene and Pfizer fired him and he filed a wrongful termination suit against Pfizer Pfizer won a summary dismissal of the case with the court ruling that the evidence showed Pfizer had decided to fire Rost prior to learning of his whistleblower activities 196 197 Illegal marketing of Rapamune edit A whistleblower suit was filed in 2005 against Wyeth which was acquired by Pfizer in 2009 alleging that the company illegally marketed sirolimus Rapamune for off label uses targeted specific doctors and medical facilities to increase sales of Rapamune tried to get transplant patients to change from their transplant drugs to Rapamune and specifically targeted African Americans According to the whistleblowers Wyeth also provided doctors and hospitals that prescribed the drug with kickbacks such as grants donations and other money 198 In 2013 the company pleaded guilty to criminal mis branding violations under the Federal Food Drug and Cosmetic Act By August 2014 it had paid 491 million in civil and criminal penalties related to Rapamune 199 Illegal marketing edit In June 2010 health insurance network Blue Cross Blue Shield BCBS filed a lawsuit against Pfizer for allegedly illegally marketing drugs Bextra Geodon and Lyrica BCBS alleged that Pfizer used kickbacks and wrongly persuaded doctors to prescribe the drugs 200 201 According to the lawsuit Pfizer handed out misleading materials on off label uses sent over 5 000 doctors on trips to the Caribbean or around the United States and paid them 2 000 honoraria in return for listening to lectures about Bextra 202 203 Despite Pfizer s claims that the company s intent was pure in fostering a legal exchange of information among doctors an internal marketing plan revealed that Pfizer intended to train physicians to serve as public relations spokespeople 204 The case was settled in 2014 for 325 million 205 Fearing that Pfizer is too big to fail and that prosecuting the company would result in disruptions to Medicare and Medicaid federal prosecutors instead charged a subsidiary of a subsidiary of a subsidiary of Pfizer which is nothing more than a shell company whose only function is to plead guilty 204 Quigley Company asbestos edit The Quigley Company which sold asbestos containing insulation products until the early 1970s was acquired by Pfizer in 1968 In June 2013 asbestos victims and Pfizer negotiated a settlement that required Pfizer to pay a total of 964 million 430 million to 80 of existing plaintiffs and place an additional 535 million into a settlement trust that will compensate future plaintiffs as well as the remaining 20 of plaintiffs with claims against Pfizer and Quigley Of that 535 million 405 million is in a 40 year note from Pfizer while 100 million is from insurance policies 206 Shiley defective heart valves edit Pfizer purchased Shiley in 1979 at the onset of its Convexo Concave valve ordeal involving the Bjork Shiley valve Approximately 500 people died when defective heart valves fractured and in 1994 Pfizer agreed to pay 10 75 million to settle claims by the United States Department of Justice that the company lied to get approval for the valves 207 Firing of employee that filed suit edit A federal lawsuit was filed by a scientist claiming she got an infection by a genetically modified lentivirus while working for Pfizer resulting in intermittent paralysis 208 A judge dismissed the case citing a lack of evidence that the illness was caused by the virus but the jury ruled that by firing the employee Pfizer violated laws protecting freedom of speech and whistleblowers and awarded her 1 37 million 209 Celebrex intellectual property edit Brigham Young University BYU said a professor of chemistry Dr Daniel L Simmons discovered an enzyme in the 1990s that led towards development of Celebrex BYU was originally seeking a 15 royalty on sales equating to 9 7 billion A research agreement had been made between BYU and Monsanto whose pharmaceutical business was later acquired by Pfizer to develop a better aspirin The enzyme Dr Simmons claims to have discovered would induce pain and inflammation while causing gastrointestinal problems and Celebrex is used to reduce those issues A six year battle ensued because BYU claimed that Pfizer did not give Dr Simmons credit or compensation while Pfizer claimed that it had met all obligations regarding the Monsanto agreement In May 2012 Pfizer settled the allegations agreeing to pay 450 million 210 Nigeria Trovafloxacin lawsuit edit Main article Abdullahi v Pfizer Inc In 1996 an outbreak of measles cholera and bacterial meningitis occurred in Nigeria Pfizer representatives and personnel from a contract research organization CRO traveled to Kano to set up a clinical trial and administer an experimental antibiotic trovafloxacin to approximately 200 children 211 Local Kano officials reported that more than fifty children died in the experiment while many others developed mental and physical deformities 212 The nature and frequency of both fatalities and other adverse outcomes were similar to those historically found among pediatric patients treated for meningitis in sub Saharan Africa 213 In 2001 families of the children as well as the governments of Kano and Nigeria filed lawsuits regarding the treatment 214 According to Democracy Now r esearchers did not obtain signed consent forms and medical personnel said Pfizer did not tell parents their children were getting the experimental drug 215 The lawsuits also accused Pfizer of using the outbreak to perform unapproved human testing as well as allegedly under dosing a control group being treated with traditional antibiotics in order to skew the results of the trial in favor of Trovan Nigerian medical personnel as well as at least one Pfizer physician said the trial was conducted without regulatory approval 216 217 In 2007 Pfizer published a Statement of Defense letter stating that the drug s oral form was safer and easier to administer Trovan had been used safely in more than five thousand Americans prior to the Nigerian trial and mortality in the patients treated by Pfizer was lower than that observed historically in African meningitis epidemics No unusual side effects unrelated to meningitis were observed after four weeks 218 In June 2010 the US Supreme Court rejected Pfizer s appeal against a ruling allowing lawsuits by the Nigerian families to proceed 219 In December 2010 the United States diplomatic cables leak indicated that Pfizer hired investigators to find evidence of corruption against Nigerian attorney general Michael Aondoakaa to persuade him to drop legal action 220 The Washington Post reporter Joe Stephens who helped break the story in 2000 called these actions dangerously close to blackmail 215 In response the company released a press statement describing the allegations as preposterous and saying that it acted in good faith 221 Aondoakka who had allegedly demanded bribes from Pfizer in return for a settlement of the case 222 was declared unfit for office and had his U S visa revoked in association with corruption charges in 2010 223 224 The lawsuits were eventually settled out of court Pfizer committed to paying US 35 million to compensate the families of children in the study another US 30 million to support healthcare initiatives in Kano and 10 million to cover legal costs Payouts began in 2011 225 Inflating Prices edit In July 2022 UK antitrust authorities fined Pfizer 63 million for unfairly high priced drug that aids in controlling epileptic seizures The Competition and Markets Authority stated that the company took advantage of loopholes by de branding epilepsy drug Epanutin by doing so the price of Epanutin s price was not regulated to the same standards the company are used to and therefore the price of the drug was raised It was stated that over a four year period Pfizer had billed Epanutin for around 780 and 1 600 higher than its standard price 226 Allegations of patent infringement on mRNA technology edit In August 2022 Moderna announced that it will sue Pfizer and its partner BioNTech for infringing their patent on the mRNA technology 227 Environmental record editSince 2000 the company has implemented more than 4 000 greenhouse gas reduction projects 228 In 2012 the company was named to the Carbon Disclosure Project s Carbon Leadership Index in recognition of its efforts to reduce greenhouse gas emissions 229 Pfizer has inherited Wyeth s liabilities in the American Cyanamid site in Bridgewater Township New Jersey a highly toxic EPA Superfund site Pfizer has since attempted to remediate this land in order to clean and develop it for future profits and potential public uses 230 The Sierra Club and the Edison Wetlands Association have opposed the cleanup plan arguing that the area is subject to flooding which could cause pollutants to leach The EPA considers the plan the most reasonable from considerations of safety and cost effectiveness arguing that an alternative plan involving trucking contaminated soil off site could expose cleanup workers The EPA s position is backed by the environmental watchdog group CRISIS 231 In June 2002 a chemical explosion at the Groton plant injured 7 people and caused the evacuation of more than 100 homes in the surrounding area 232 Public private engagement editPfizer engages with the public and private sectors in a variety of settings including to promote research and development academic funding event sponsorship philanthropy and political lobbying Academia edit Institute for Advanced Study Matching gifts and direct donor 233 234 University of Toronto Donor to the Boundless Campaign 235 and member of the President s Circle 236 University of Washington Member of the Honor Roll of Donors having contributed between 10 million and 50 million to funding the school as of 2020 237 Activism edit Habitat for Humanity Donor 238 Human Rights Campaign HRC Corporate partner 239 HRC is a large LGBT civil rights activism group National Women s Law Center Donor 240 Share Our Strength Donor 241 WaterAid Partner 242 Conferences and summits edit Women in Medicine Summit Sponsor 243 World Neuroscience Innovation Forum Strategic partner 244 Media edit During the COVID 19 pandemic Pfizer engaged many forms of media to promote their COVID 19 vaccine including a commissioned National Geographic documentary 245 Pfizer is also a donor to the National Geographic Society 246 Pfizer was a prominent sponsor of the 2022 Oscars ceremony alongside BioNTech 247 Pfizer has been a major donor to the National Press Foundation 248 249 Pfizer sponsored a program for the NPF called Cancer Issues 2010 to train journalists to understand the latest research on various cancers including the role of pharmaceutical products and vaccines MicroRNA miRNA was also a listed topic 250 251 Pfizer sponsors 19 to Zero a coalition of academics public health experts behavioural economists and creative professionals that develops media and educational materials to influence public perception surrounding COVID 19 and COVID 19 vaccines 252 Medical societies edit American Society of Hematology Sponsor 253 Arthritis Society National partner Pfizer also supports the organization s provincial branches in Alberta British Columbia Manitoba New Brunswick Newfoundland and Labrador Nova Scotia Ontario Prince Edward Island and Quebec 254 Canadian Cancer Society Sponsor 255 Canadian Paediatric Society Funding CPS is the organization that administers the Canadian Immunization Monitoring Program Active IMPACT vaccine safety program 256 Canadian Society of Internal Medicine Annual conference sponsor with Bristol Myers Squibb 257 Endocrine Society Corporate Liaison Board member 258 European Society of Cardiology Sponsor of the EURObservational Research Programme 259 Spanish Cardiac Society Strategic partner 260 Political lobbying edit Pfizer is affiliated with a variety of industry organizations engaging in political lobbying and has made substantial direct donations to government and regulatory agencies Adult Vaccine Access Coalition Member 261 Alliance for a Stronger FDA Member 262 AMR Industry Alliance Member 263 BIOTECanada Member company 264 265 Bipartisan Policy Center Donor 266 The Business Council Member represented by CEO Albert Bourla 267 Business Council for the United Nations Member 268 Center on Budget and Policy Priorities Funder 269 Community Anti Drug Coalitions of America CADCA Partner 270 COVID 19 Vaccine Education and Equity Project Sponsor 271 European Federation of Pharmaceutical Industries and Associations Member 272 Foundation for the National Institutes of Health FNIH Donor Pfizer has given between 5 000 000 and 9 999 999 to the between 1997 and 2020 contributing to funding the activities of the National Institutes of Health 273 Global Health Council Member 274 Immunisation Coalition Australia Sponsor 275 Innovative Medicines Canada Member IMC is an association of pharmaceutical companies doing business in Canada 276 277 The group lobbies the Government of Ontario and House of Commons of Canada through Rubicon Strategy a firm owned by Progressive Conservative Party of Ontario campaign manager Kory Teneycke 278 279 280 International Federation of Pharmaceutical Manufacturers amp Associations IFPMA Member 281 Life Sciences British Columbia LSBC Member company and Platinum Sponsor 282 283 National Health Council NHC Member organization NHC is a non profit organization that lobbies the U S Government on issues related to healthcare reform 284 National Pharmaceutical Council NPC Member company 285 Personalized Medicine Coalition PMC Member 286 287 Pharmaceutical Advertising Advisory Board PAAB Client 288 Pharmaceutical Research and Manufacturers of America PhRMA Member company 289 290 Reagan Udall Foundation for the Food and Drug Administration Donor 291 Research America Member organization 292 U S Global Leadership Coalition Member 293 World Economic Forum Member organization 294 295 Scott Gottlieb who resigned as FDA commissioner in April 2019 joined the Pfizer board of directors three months later in July 2019 296 Pfizer lobbied various officials in the Government of British Columbia between April and November 2012 including then premier Christy Clark future premier John Horgan future health minister Adrian Dix and future deputy premier minister of public safety and solicitor general Mike Farnworth The disclosed purpose was to provide health policy and pharmaceutical information and communications on behalf of Pfizer Canada and learn and understand the budgetary policy and strategic directions of the Government 297 Professional associations edit Academy of Surgical Research ASR 2021 Annual Meeting sponsor 298 American Statistical Association ASA Corporate supporter 299 Bioscience Association Manitoba BAM Sponsor 300 British Columbia Pharmacy Association BCPA Event sponsor 301 Canadian Association for Clinical Microbiology and Infectious Diseases CACMID Patron former 302 Canadian Association of Emergency Physicians CAEP Corporate partner 303 Canadian Association of Medical Oncologists Annual meeting sponsor 304 Canadian Medical Association Sponsor In 2009 Pfizer partnered with the CMA to launch a continuing medical education course for physicians 305 Canadian Pharmacists Association and Canadian Pharmacists Journal Sponsor 306 Canadian Public Health Association Sponsor 307 Canadian Rheumatology Association Sponsor 308 Canadian Urological Association Sponsor 309 310 Ontario Medical Association OMA Donor to the Ontario Medical Foundation 311 Pharmacy Association of Nova Scotia Sponsor 312 Public health edit Pfizer has engaged in a number of public health and global health initiatives worldwide and provides funding for health care facilities of various specialties in Canada and the United States CANImmunize Endorsing partner 149 CANImmunize is a vaccine passport software company funded primarily by the Public Health Agency of Canada and partnered with governments health agencies academia and pharmaceutical companies across Canada Centre for Addiction and Mental Health Donor 313 Dana Farber Cancer Institute Donor 314 Federation of Medical Women of Canada Sponsor 315 316 Food Allergy Canada Corporate partner providing funding and advocacy support 317 318 Hospital for Sick Children SickKids Donor to the SickKids Foundation 319 Medical Teams International Corporate donor 320 North Bay Regional Health Center Donor to the NBRHC Foundation 321 Princess Margaret Cancer Centre PMCC Conference sponsor 322 and donor to the Princess Margaret Cancer Foundation 323 Scarborough Health Network SHN Donor to the SHN Foundation 324 Sinai Health Foundation Donor The foundation funds Mount Sinai Hospital Bridgepoint Active Healthcare and the Lunenfeld Tanenbaum Research Institute in Toronto Ontario 325 Sunnybrook Health Sciences Centre Donor 326 University Hospitals Kingston Foundation Donor 327 UHKF raises funds for the Kingston Health Sciences Centre and Providence Care William Osler Health System Event sponsor 328 Pfizer sponsored a presentation in January 2020 delivered by Julie Bettinger through British Columbia s Provincial Health Services Authority PHSA titled Vaccine hesitancy It doesn t matter if the vaccine works if nobody gets it 256 329 In 2020 Pfizer provided funding in the range of 100 000 00 250 000 00 to Ronald McDonald House Charities to provide resources that directly improve the health and well being of children and their families 330 Research and development edit Pfizer has partnered with and sponsored many medical research networks and professional associations in the United States Canada and globally ABC Global Alliance Main sponsor 331 The alliance is a Portuguese not for profit society supporting research into advanced breast cancer Accelerating COVID 19 Therapeutic Interventions and Vaccines ACTIV Industry partner AdvaMed Member former 332 Alliance for Regenerative Medicine Member organization 333 The alliance is an international advocacy organization supporting the development of regenerative medicines including gene therapy and stem cell therapy Arthritis Australia Donor 334 BioFIT Sponsor 335 BioFIT holds events to connect academia pharmaceutical companies and investors in the field of life sciences and biotechnology Canadian Frailty Network Industry partner 336 CFN has provided research grants related to COVID 19 337 Colorectal Cancer Canada Sponsor 338 339 Drugs for Neglected Diseases Initiative Partner 340 DNDI is a non profit drug research and development organization that expedites creation and delivery of medicines for diseases including leishmaniasis sleeping sickness and hepatitis C GISAID Funding for COVID 19 operations 341 Heart and Stroke Foundation of Canada National corporate partner and sponsor 342 343 Lung Health Foundation Partner 344 Funds research into infectious lung disease and lobbying for policy changes Mentoring in IBD Sponsor Annual educational program for Canadian gastroenterologists 345 Mount Sinai Hospital Toronto Sponsor for research into infectious diseases such as COVID 19 through educational grants 346 Nova Scotia Chronic Pain Collaborative Care Network Investment in Canadian health research 347 Ontario Hospital Research Institute OHRI Research grants 348 Pinnacle Research Group Sponsor 349 Radcliffe Cardiology Industry partner 350 Truth Initiative Featured partner 351 The initiative performs research and policy studies related to the reduction of tobacco use in youth See also edit nbsp New York City portal nbsp Companies portalBiotech and pharmaceutical companies in the New York metropolitan area Companies of the United States with untaxed profits Fire in the Blood 2013 film List of pharmaceutical companiesReferences edit a b c d Pfizer Inc 2022 Form 10 K Annual Report U S Securities and Exchange Commission February 23 2023 Wells John C 2008 Longman Pronunciation Dictionary 3rd ed Longman ISBN 9781405881180 Bomey Nathan August 25 2020 Exxon Mobil Pfizer removed from Dow Jones Industrial Average Salesforce Honeywell added USA Today Stevens Pippa August 24 2020 Salesforce Amgen and Honeywell added to Dow in major shake up to the average CNBC Ponczek Sarah Greifeld Katherine August 24 2020 Exxon Booted from Dow Industrials in Major Embrace of Tech Bloomberg News Levisohn Ben August 25 2020 Exxon and Pfizer Just Got Booted From the Dow Here s What s Replacing Them Barron s Fortune 500 Pfizer Fortune Forbes Global 2000 Pfizer Forbes Pfizer Inc International Directory of Company Histories Vol 178 Internet Archive St James Press 2016 pp 362 373 ISBN 978 1 4103 9198 8 a href Template Cite book html title Template Cite book cite book a CS1 maint others link a b Kenneth T Jackson The Encyclopedia of New York City The New York Historical Society Yale University Press September 1995 P 895 ISBN 978 0 300 05536 8 Pfizer s Birthplace Soon Without Pfizer The New York Times January 28 2007 a b Guide to the Pfizer Inc collection ARC 084 Brooklyn Public Library a b c d Company Timeline a Legacy of Innovation Pfizer Archived from the original on April 8 2022 Retrieved May 16 2022 a b Penicillin Production through Deep tank Fermentation National Historic Chemical Landmark American Chemical Society Johnson Steven 2021 Extra Life 1st ed Riverhead Books p 160 ISBN 978 0 525 53885 1 Fluconazole The American Society of Health System Pharmacists Archived from the original on December 20 2016 Azithromycin A world best selling Antibiotic World Intellectual Property Organization Mandell LA Wunderink RG Anzueto A et al March 2007 Infectious Diseases Society of America American Thoracic Society consensus guidelines on the management of community acquired pneumonia in adults PDF Clinical Infectious Diseases 44 Suppl 2 S27 72 doi 10 1086 511159 PMC 7107997 PMID 17278083 Wilson Jacque March 27 2013 Viagra The little blue pill that could CNN Cox David June 9 2019 The race to replace Viagra The Guardian Pfizer Inc New York has elected its Los Angeles Times March 29 1991 Kenneth Koe 45 Reed Magazine Reed College December 2015 Archived from the original on April 14 2022 Retrieved May 18 2021 Smith Aaron April 4 2006 Who stands to gain when Zoloft goes generic CNN Money Retrieved May 18 2021 Highlights of Prescribing Information PDF Food and Drug Administration Drug Approval Package Food and Drug Administration Mehta Praful November 29 2011 Lipitor Patent Expiration The End of an Era for Atorvastatin Sales IHS Markit Archived from the original on May 18 2021 Retrieved May 18 2021 a b Berenson Alex July 29 2006 A Long Shot Becomes Pfizer s Latest Chief Executive The New York Times Bank David Buckman Rebecca May 17 2002 Gates Foundation Buys Stakes in Drug Makers The Wall Street Journal ISSN 0099 9660 Retrieved June 14 2022 Pregabalin American Society of Health System Pharmacists Frampton James E September 2014 Pregabalin A Review of its Use in Adults with Generalized Anxiety Disorder CNS Drugs 28 9 835 854 doi 10 1007 s40263 014 0192 0 PMID 25149863 S2CID 5349255 Iftikhar I H Alghothani L Trotti L M December 2017 Gabapentin enacarbil pregabalin and rotigotine are equally effective in restless legs syndrome a comparative meta analysis European Journal of Neurology 24 12 1446 1456 doi 10 1111 ene 13449 PMID 28888061 S2CID 22262972 Decker Susan February 6 2014 Pfizer Wins Ruling to Block Generic Lyrica Until 2018 Bloomberg News Pfizer names new CEO CNN July 28 2006 Berenson Alex Pollack Andrew December 5 2006 Pfizer Shares Plummet on Loss of a Promising Heart Drug The New York Times Berenson Alex December 3 2006 Pfizer Ends Studies on Drug for Heart Disease The New York Times Agovino Theresa December 3 2006 Pfizer ends cholesterol drug development The Seattle Times Associated Press Tanne Janice Hopkins December 16 2006 Pfizer stops clinical trials of heart drug BMJ 333 7581 1237 2 1237 doi 10 1136 bmj 39059 438044 DB PMC 1702474 PMID 17170401 Bennett Simeon July 8 2010 Pfizer Civil Suits for Drug Counterfeiters Bloomberg Businessweek Jones Al July 15 2008 Pfizer job cuts don t equal a reduction in work load says company spokesman Booth Newspapers a b It s official Pfizer buys Pharmacia CNN April 16 2003 Hensley Scott June 20 2000 Pfizer Completes Stormy Takeover Of Warner Lambert for 116 Billion The Wall Street Journal Campbell Todd May 15 2017 Here are the 7 biggest mergers of all time Business Insider The Motley Fool Metronidazole Monograph for Professionals Drugs com Celecoxib Monograph for Professionals Drugs com American Society of Health System Pharmacists November 11 2019 The Spirit Of A Startup Lives On Bloomberg Businessweek November 21 2005 Pfizer expects to shutter South City biotech outpost American City Business Journals April 30 2003 Rockoff Jonathan D August 26 2011 FDA Approves Pfizer Lung Cancer Drug The Wall Street Journal Mortlock A A Wilson D M Kettle J G Goldberg F W Foote K M 2017 Selective Kinase Inhibitors in Cancer Comprehensive Medicinal Chemistry III pp 39 75 doi 10 1016 B978 0 12 409547 2 12391 1 ISBN 978 0 12 803201 5 Barriaux Marianne October 9 2006 Pfizer buys vaccine developer PowderMed The Guardian Sorkin Andrew Ross Wilson Duff January 25 2009 Pfizer Agrees to Pay 68 Billion for Rival Drug Maker Wyeth The New York Times ISSN 0362 4331 Pfizer completes 67 billion deal for rival Wyeth Reuters October 15 2009 Karnitschnig Matthew Rockoff Jonathan D January 23 2009 Pfizer in Talks to Buy Wyeth The Wall Street Journal Edwards Jim January 23 2009 The Pfizer Wyeth Deal Worst Case Scenario CBS News a b PFIZER COMPLETES ACQUISITION OF WYETH Press release Pfizer October 14 2009 CDC ABCs Surveillance Reports main page Active Bacterial Core surveillance April 5 2019 Herper Matthew August 24 2020 In the race for a Covid 19 vaccine Pfizer turns to a scientist with a history of defying skeptics and getting results Stat a b Liu Angus Kansteiner Fraiser April 4 2023 Pfizer moves on up to the West Side establishing new nerve center at Hudson Yards Spiral skyscraper Fierce Pharma Retrieved April 6 2023 Ian Read to Retire as Executive Chairman of Pfizer s Board of Directors Chief Executive Officer Dr Albert Bourla Named Chairman Press release Business Wire September 27 2019 Pfizer to close UK research site BBC News February 1 2011 Mckinney Maureen March 1 2011 Pfizer closes King Pharmaceuticals acquisition Modern Healthcare Yukhananov Anna September 4 2012 FDA approves Pfizer leukemia drug Reuters Drug Approval Package Food and Drug Administration Sagonowsky Eric February 20 2019 Pfizer switches RA patients to lower dose of fast growing Xeljanz as safety issues arise in postmarketing study Fierce Pharma Zoetis Files IPO Registration Statement Press release Business Wire August 13 2012 J de la Merced Michael February 1 2013 Shares of Zoetis Surge on Debut The New York Times Dieterich Chris January 31 2013 Zoetis Raises 2 2 Billion in IPO The Wall Street Journal Shares of animal health company Zoetis soar in IPO CBS News Associated Press February 1 2013 Loftus Peter May 22 2013 Pfizer to Spin Off Remaining Zoetis Stake The Wall Street Journal Humer Caroline Pierson Ransdell May 22 2013 Pfizer to spin off Zoetis stake to shareholders Reuters Wasserman Emily September 29 2014 Pfizer Completes Acquisition Of InnoPharma Fierce Pharma Pfizer to Acquire InnoPharma for Up to 360M genengnews com July 16 2014 Pfizer Buys Redvax Boosting Vaccine Portfolio genengnews com January 5 2015 Beaver Julia A Amiri Kordestani Laleh Charlab Rosane Chen Wei Palmby Todd Tilley Amy Zirkelbach Jeanne Fourie Yu Jingyu Liu Qi Zhao Liang Crich Joyce Chen Xiao Hong Hughes Minerva Bloomquist Erik Tang Shenghui Sridhara Rajeshwari Kluetz Paul G Kim Geoffrey Ibrahim Amna Pazdur Richard Cortazar Patricia November 1 2015 FDA Approval Palbociclib for the Treatment of Postmenopausal Patients with Estrogen Receptor Positive HER2 Negative Metastatic Breast Cancer Clinical Cancer Research 21 21 4760 4766 doi 10 1158 1078 0432 CCR 15 1185 PMID 26324739 S2CID 24762535 Palbociclib IBRANCE Food and Drug Administration February 9 2019 Pfizer Lilly to Resume Phase III Tanezumab Clinical Program genengnews com March 23 2015 Gali Weinreb May 14 2015 Pfizer to collaborate on Bar Ilan DNA robots Globes Pfizer Buys Two GSK Meningitis Vaccines for 130M genengnews com June 22 2015 Pfizer Completes Acquisition of Hospira Press release Pfizer September 3 2015 via Business Wire Pfizer completes 17 billion Hospira acquisition The Pharma Letter September 4 2015 Gelles David Thomas Katie February 5 2015 Pfizer Bets 15 Billion on New Class of Generic Drugs The New York Times 8 K U S Securities and Exchange Commission February 6 2015 Pfizer to Acquire Hospira Pfizer Press release Neilan Catherine February 5 2015 Pfizer Hospira share prices to soar after 17bn deal announced City A M Bhalla Mohit Singh Khomba December 16 2009 US based Hospira to buy Orchid Chemicals injectables biz for 400 mn The Economic Times Pfizer seals 160bn Allergan deal to create drugs giant BBC News November 23 2015 Pierson Ransdell Berkrot Bill November 24 2015 Pfizer to buy Allergan in 160 billion deal Reuters Pfizer to Acquire Allergan for 160B genengnews com November 23 2015 Koons Cynthia November 22 2015 Pfizer and Allergan to Combine With Joint Value of 160 Billion Bloomberg News Bray Chad April 6 2016 Pfizer and Allergan Call Off Merger After Tax Rule Changes The New York Times Humer Caroline Banerjee Ankur April 6 2016 Pfizer Allergan scrap 160 billion deal after U S tax rule change Reuters Pfizer Completes Acquisition of Anacor Press release Pfizer June 24 2016 via Business Wire Pfizer to Acquire Anacor Pharmaceuticals for 5 2B genengnews com May 16 2016 Pfizer Places High Bid of 40M for BIND Therapeutics genengnews com July 27 2016 Pfizer Acquires Bamboo Therapeutics in a 645M Deal genengnews com August 1 2016 Pfizer to Acquire Medivation for 14B genengnews com August 22 2016 Pfizer to buy cancer drug firm Medivation for 14bn BBC News August 22 2016 Pfizer Completes Acquisition of Medivation Press release OncoImmune September 28 2016 via Business Wire OncoImmune Licenses ONC 392 to Pfizer for Up to 250M genengnews com October 15 2016 OncoImmune Announces Option and License Agreement with Pfizer Inc Press release Pfizer September 15 2016 via Business Wire a b c CDC Foundation Active Programs October 1 2020 September 30 2021 CDC Foundation December 9 2021 Archived from the original on January 15 2022 Retrieved August 6 2022 Pfizer Completes Acquisition of Small Molecule Anti Infective Business From AstraZeneca Press release Pfizer December 23 2016 via Business Wire Pfizer Buys AstraZeneca Antibiotics for Up to 1 575B genengnews com August 24 2016 Staton Tracy August 24 2016 Pfizer grabs AZ antibiotics in 1 5B deal Pre split prep or just another sales boosting buy Fierce Pharma Hiltzik Michael January 8 2018 Pfizer pocketing a big tax cut from Trump will end investment in Alzheimer s and Parkinson s research Los Angeles Times FDA approves enzalutamide for castration resistant prostate cancer Press release Food and Drug Administration July 13 2018 BioNTech Signs Collaboration Agreement with Pfizer to Develop mRNA based Vaccines for Prevention of Influenza Press release BioNTech August 16 2018 Mathias Tamara Banerjee Ankur October 1 2018 Pfizer to replace longtime CEO Read with veteran Bourla Reuters Maidenberg Micah October 9 2018 Pfizer Prepares for CEO Transition With Executive Suite Changes The Wall Street Journal Ramsey Lydia October 1 2018 Pfizer s CEO is stepping down after 8 years meet the man who will be replacing him Business Insider Jarvis Lisa M October 3 2018 Pfizer unveils CEO succession plan Chemical amp Engineering News Bakolia Ravikash July 1 2019 Pfizer completes acquisition of Therachon to bolster rare disease drug portfolio S amp P Global Pfizer Completes Acquisition of Array Biopharma Press release Pfizer July 30 2019 via Business Wire GlaxoSmithKline and Pfizer merge healthcare arms BBC News December 19 2018 Helfand Carly October 16 2017 Reckitt Benckiser s still keen on a Pfizer OTC buy But can it afford one Fierce Pharma Helfand Carly October 26 2017 Sanofi J amp J could join GlaxoSmithKline Reckitt in 20B bidding war for Pfizer OTC report Fierce Pharma Helfand Carly October 25 2017 GlaxoSmithKline eyes Pfizer s OTC unit But will a buy imperil its dividend Fierce Pharma Pfizer to buy 9 9 of CStone for 200 million eyes collaboration Reuters September 29 2020 Al Idrus Amirah October 22 2020 Biotech Pfizer snaps up antibiotics maker Arixa and its oral Avycaz follow up Fierce Pharma Pfizer Completes Combination Of Upjohn And Mylan Viatris To Begin Trading On Nov 17 Nasdaq November 16 2020 Sabatini Patricia November 16 2020 Mylan completes merger with Upjohn to form Viatris Pittsburgh Post Gazette Bruell Alexandra January 5 2021 Pfizer Introduces New Logo Playing Up Role in Drug Creation The Wall Street Journal ISSN 0099 9660 Taylor Nick Paul April 28 2021 Pfizer buys Amplyx to grow infectious disease pipeline Fierce Pharma Wosen Jonathan April 28 2021 Pfizer acquires fungus fighting San Diego biotech The San Diego Union Tribune Pfizer to buy cancer drug developer Trillium in 2 3 BLN deal Reuters August 23 2021 Pfizer to Acquire Trillium Therapeutics Inc Pfizer Completes Acquisition of Arena Pharmaceuticals Press release Business Wire March 11 2022 Pfizer bets on Arena s promising bowel disease treatment in 6 7 bln deal Reuters December 13 2021 Retrieved December 13 2021 Walker Joseph December 13 2021 Pfizer to Acquire Arena Pharmaceuticals in 6 7 Billion Deal The Wall Street Journal Retrieved December 13 2021 Satija Bhanvi April 7 2022 Pfizer boosts respiratory drug portfolio with ReViral purchase Reuters Pfizer acquires biopharma firm ReViral for up to 525m Pharmaceutical Technology June 10 2022 Retrieved June 10 2022 Pfizer Completes Acquisition of Biohaven Pharmaceuticals October 3 2022 Pfizer to Acquire Biohaven Pharmaceuticals Press release May 10 2022 Pfizer Drops a Cool 11 6B on Migraine Leader Biohaven Pfizer Completes Acquisition of Global Blood Therapeutics Press release Business Wire October 5 2022 Rockoff Jonathan D August 8 2022 Pfizer Agrees to 5 4 Billion Deal for Global Blood Therapeutics The Wall Street Journal ISSN 0099 9660 Retrieved August 8 2022 Flush with cash Pfizer buys Global Blood Therapeutics in 5 4 billion deal Reuters August 8 2022 Retrieved August 8 2022 Mishra Manas March 13 2022 Pfizer signs 43 bln Seagen deal in cancer drug push Reuters Pfizer s 43 Billion Seagen Takeover Faces EU Investigation Bloomberg July 15 2023 D Ambrosio Amanda April 3 2023 Pfizer opens global headquarters in Hudson Yards as empty offices reach pandemic levels Crain New York Business Retrieved April 6 2023 Kansteiner Fraiser August 28 2023 Pfizer telegraphs 4th quarter production restart at North Carolina plant damaged by tornado Fierce Pharma Retrieved September 11 2023 Staines Richard March 26 2020 Pharma giants including Novartis collaborate on COVID 19 therapies 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