Pfizer Inc. is an American multinational pharmaceutical and biotechnology corporation headquartered on 42nd Street in Manhattan, New York City. Pfizer develops and produces medicines and vaccines for immunology, oncology, cardiology, endocrinology, and neurology. The company has several blockbuster drugs or products that each generate more than US1 billion in annual revenues. In 2020, 52% of the company’s revenues came from the United States, 6% came from each of China and Japan, and 36% came from other countries.
The company’s milestones:
-In 1849 – The company was founded by Charles Pfizer and Charles Erhart in 1849 and is headquartered in New York. The business produced chemical compounds, and was headquartered on Bartlett Street 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.
– In 1881 – Pfizer moved its administrative headquarters to 81 Maiden Lane in Manhattan, presaging the company’s expansion to Chicago, Illinois a year later.
– In 1900 – The company was incorporated in New Jersey as Charles Pfizer & Company Inc.
– In 1919 – 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.
– In 1938 – Pfizer pushes ahead in 1938 with production of vitamin B-2, or riboflavin, and eventually develops a vitamin mix that includes riboflavin, thiamin, niacin, and iron.
– In 1940s – Pfizer become the established leader in the manufacture of vitamins.
– In 1942 – Pfizer reincorporated in Delaware and went public with an offering of 240,000 shares of common stock.
– In 1944 – Mass production began in 1944, when Pfizer penicillin arrived with the Allied forces on the beaches of Normandy on D-Day.
– In 1950 – 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.
– In 1953 – Established in 1953, the Pfizer Foundation is Pfizer’s charitable organization.
– In 1959 – The company established an animal health division with a 700-acre (2.8 km2) farm and research facility in Terre Haute, Indiana.
– In 1965 – Under the methodical directive of John J. Powers, head of international operations and future president and chief executive officer, Pfizer’s foreign market expanded into 100 countries and accounted for $175 million in sales by 1965.
– In 1970 – The company changed its name to the more modern-sounding Pfizer Inc.
– 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 1990 – Pfizer International launched 37 new products worldwide in 1990.
– In 1991 – Pfizer 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 1993 – The company became the first to win approval from the FDA for a drug (Cognex) that retarded the progression of Alzheimer’s disease.
– In 1997 – The company entered into a co-marketing agreement with Warner–Lambert for Lipitor (atorvastatin), a statin for the treatment of hypercholesterolemia.
– 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.
– On December 3, 2006 – Pfizer ceased development of torcetrapib, a drug that increases production of HDL, or “good cholesterol”, which reduces LDL thought to be correlated to heart disease.
– 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.
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– 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. Later in 2013, Pfizer completed the corporate spin-off of its remaining stake in Zoetis.
– In 2020 – In response to the coronavirus pandemic, Pfizer partnered with BioNTech in April 2020 to begin developing a COVID-19 vaccine.
– In December 2020 – The company became the first to receive an emergency use authorization from the FDA for a COVID-19 vaccine.
– On January 5, 2021 – Pfizer introduced a new logo.
According to zippia.com; zippia.com.
