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 US$1 billion in annual revenues.
What does Pfizer do for a living?
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 US$1 billion in annual revenues.
What are the key resources of the Pfizer company?
Pfizer includes Parexel, Icon, PPD, Merck, IndieGoGo, Rexall and NovaMedica among its partners. Pfizer’s key resources are its technologies and intellectual properties, its research and development facilities, its manufacturing and supply chain networks, its sales and distribution channels, and its personnel.
What inspires people at Pfizer?
Incredible things can happen when people come together with one shared goal. The future of medicine is happening at Pfizer, and we’re eager to work alongside inspired and inspirational people who want to improve healthcare around the world. Explore Our Careers Opportunities for Veterans Leadership. Honor. A sense of purpose.
What did Pfizer discover in the 1950s?
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.
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What is Pfizer's main focus?
Pfizer's purpose is to deliver breakthroughs that change patients' lives. R&D is at the heart of fulfilling Pfizer's purpose as we work to translate advanced science and technologies into the therapies that matter most. Today, we are at a unique moment in biomedical innovation.
What industry does Pfizer operate in?
biopharmaceutical companyPfizer Inc. is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture, marketing, sale and distribution of biopharmaceutical products around the world. The Company operations through two segments: Biopharma and PC1.
What are the core values of Pfizer?
The “how” is represented by four simple, powerful values – courage, excellence, equity and joy – that define our company and our culture.
What does Pfizer do to be socially responsible?
Grants. We support the global healthcare community's independent initiatives to improve patient outcomes in areas of unmet medical need that are aligned with our medical and/or scientific strategies.
What other products do Pfizer make?
ACCUPRIL® (quinapril HCI)ACCURETIC® (quinapril HCl/hydrochlorothiazide)ACETYLCYSTEINE. (acetylcysteine solution)ADENOSINE. (adenosine)ALDACTAZIDE® (spironolactone and hydrochlorothiazide)ALDACTONE® (spironolactone)ALFENTANIL INJECTION.ALTACE® (ramipril)More items...
What is Pfizer's business strategy?
Pfizer's most critical corporate level strategy is horizontal integration. Some beneficial advantages of horizontal integration for Pfizer include a lower cost structure, which makes realizing economies of scale more attainable, as well as reduced resource duplication.
What is Pfizer mission and vision?
Pfizer Vision Statement/Purpose “Innovate to bring therapies to patients that significantly improve their lives” “We're in relentless pursuit of breakthroughs that change patients' lives. We innovate every day to make the world a healthier place. It was Charles Pfizer's vision at the beginning and it holds true today.
Who is Pfizer's biggest competitor?
Pfizer's main competitors are Roche Holding AG, Eli Lilly and Co., AbbVie Inc., Novartis AG, and Merck & Co.
Where does Pfizer rank in the world?
1. Pfizer (US$79.6bn +90%) Pfizer, takes the top spot in 2022, rising from sixth in 2021.
What crime did Pfizer do?
Pfizer promoted the sale of Bextra for several uses and dosages that the FDA specifically declined to approve due to safety concerns. The company will pay a criminal fine of $1.195 billion, the largest criminal fine ever imposed in the United States for any matter.
What was the biggest lawsuit against Pfizer?
Glaxo's $3 billion settlement included the largest civil False Claims Act settlement on record, and Pfizer's $2.3 billion ($3.5 billion in 2022) settlement including a record-breaking $1.3 billion criminal fine....List of largest pharmaceutical settlements.Year2004CompanyPfizerSettlement$430 millionViolation(s)Off-label promotionProduct(s)Neurontin21 more columns
What are Pfizer's weaknesses?
Weaknesses. Marketing mismanagement of drugs: The brand value of Pfizer might be facing a massive loss because of the allegations that have been brought against it concerning the illegal marketing of drugs.
What type of organizational structure is Pfizer?
Pfizer's Organizational Structure It comprises board of directors, managers, subordinate staff and shareholders. Pfizer has re-structured its divisions into more specialized departments led by chief executives that report directly to Pfizer Chairmen and the Chief Executive Officer.
How many markets does Pfizer operate in?
Supplying medicines and vaccines to 165 countries. Delivering more than 25 billion doses every year.
Who is Pfizer's target market?
The primary target for Pfizer is both male & female, adults & children.
Where does Pfizer manufacture their products?
KALAMAZOO, MICHIGANThe largest manufacturing site in the Pfizer network is located in Kalamazoo, Michigan. This 1,300 acre facility manufactures active pharmaceutical ingredients (API), drug products (DP) and medical devices.
What is Pfizer's mission?
Mission. Pfizer aims to develop and sell a range of effective prescription medicines, over-the-counter medications and healthcare products for customers worldwide.
Why does Pfizer use patents?
Pfizer uses a range of patents and trademarks to protect its intellectual properties, which it considers to be material to its ongoing business activities.
How does Pfizer make money?
Pfizer generates revenue through the development and sale of pharmaceutical products – including prescription medicines, over-the-counter medications, consumer healthcare products and specialist oncology solutions . The Company also derives a small amount of revenue from various alliance agreements, under which it co-promotes products created by third-party companies.
What social media accounts does Pfizer use?
Customers can also interact directly with Pfizer through its social media accounts, including with YouTube, Facebook, Twitter, Sina Weibo, LinkedIn and SlideShare.
What are the segments of Pfizer?
Pfizer serves customers across four geographic segments: the US, Developed Europe, Developed Rest of the World, and Emerging Markets. The US remains the Company’s most significant market, which accounts for almost half the Company’s total revenue.
What is Pfizer's customer segment?
Customer Segments. Pfizer sells its products to a range of customers active within the healthcare and medical sector. The Company’s prescription pharmaceutical products and consumer health products are sold principally to wholesalers and distributors, as well as to retailers, hospitals, clinics, government agencies and pharmacies.
Where is Pfizer sold?
The Company’s consumer products are also sold through pharmacies, retail chains and grocery and convenience stores.
What is Pfizer's business?
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 US$1 billion in annual revenues. In 2020, 50% of the company's revenues came from the United States, 8% came from each of China and Japan, and 36% came from other countries.
Where is Pfizer located?
Pfizer Inc. ( / ˈfaɪzər / FY-zər) is an American multinational pharmaceutical and biotechnology corporation headquartered on 42nd Street in Manhattan, New York City . The name of the company commemorates its co-founder, Charles Pfizer (1824-1906).
What was Pfizer's biggest settlement?
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. 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. It was Pfizer's fourth such settlement in a decade. The payment included $1.3 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. 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.
How much did Pfizer lobby in 2009?
In the first nine months of 2009, Pfizer spent over $16.3 million lobbying members of the United States Congress, making it the 6th largest lobbying interest in the US (following Pharmaceutical Research and Manufacturers of America, which ranked 4th but also represents Pfizer interests). A spokeswoman for Pfizer said the company "wanted to make sure our voice is heard in this conversation" in regards to the company's expenditure of $25 million in 2010 to lobby health care reform.
What was Pfizer accused of?
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 . 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.
Why did Pfizer lobby against New Zealand?
According to United States Department of State cables released by WikiLeaks, Pfizer "lobbied against New Zealand getting a free trade agreement with the United States because it objected to New Zealand's restrictive drug buying rules and tried to get rid of New Zealand's former health minister ", Helen Clark, in 1990.
How much did Pfizer withdraw from Harper's magazine?
According to Harper's Magazine publisher John R. MacArthur, Pfizer withdrew "between $400,000 and a million dollars" worth of ads from Harper's Magazine following an unflattering article on depression medication.
What is Pfizer's purpose?
Pfizer’s purpose is to deliver breakthroughs that change patients’ lives. R&D is at the heart of fulfilling Pfizer’s purpose as we work to translate advanced science and technologies into the therapies that matter most.
What is Pfizer's unique moment in biomedical innovation?
More than a decade after the decoding of the human genome, we have a fundamentally better understanding of human biology and what causes disease. We have also learned that it takes more than just great science to deliver meaningful new therapies. Over the last few years, Pfizer has taken a hard look at the way we did R&D in the past. We have better integrated science and business, which meant transforming our approach to be more collaborative, more focused, and, we believe, more powerful for patients. Ultimately, we’ve worked to design an engine that can deliver patients a sustainable flow of important new medicines and vaccines, year after year.
What did Pfizer discover?
In the process, Pfizer discovered job experience, coaching and learning activities as critical factors to leadership development. Thus, Pfizer emphasized on the integration of coaching and action plan development among colleagues.
How many employees does Pfizer have?
Since then, Pfizer has grown into a global company with over 81,900 employees in 150 countries.
What does Pfizer value?
Pfizer values community, customer focus, innovation, integrity, leadership, performance, respect for people, teamwork and quality.
What was the Pfizer strategy in 1951?
The company’s strategy was to organize international teams that have autonomy in decision making. Today, Pfizer adopts the same organizational structure, as illustrated in the figure below.
What not to do Pfizer?
On the other hand, what not to do are: Make illegal payments to government officials or business partners and. Offer or accept inappropriate gifts or entertainment. In addition, the Corporate University Exchange shared some information about Pfizer’s strategies in resolving communication and control issues.
Who is the CEO of Pfizer?
These two presidents and all other presidents in the different divisions of Pfizer are all lead by the Chief Executive Officer and Chairman of the Board, Jeffrey B. Kindler. The strength of Pfizer’s organizational structure is the Executive Leadership Team. It is the company’s decision making body comprised of senior-most leaders representing different divisions. Based on the Company Profile of Pfizer’s website, the team has 11 members including the CEO. Leadership and critical decisions exercised collectively by the best employees of Pfizer fosters credibility, transparency and trust among its stakeholders.
When did Warner Lambert merge with Pfizer?
In 2000, Warner-Lambert merged with Pfizer, making Pfizer the fastest-growing pharmaceutical company. This year, Pfizer becomes the biggest pharmaceutical company by merging with Wyeth. According to RTT News dated April 7, 2009, Pfizer has a new organizational structure concerning the Research and Development Division to further strengthen ...
Customer Segments
Value Propositions
Channels
- Pfizer operates a website at www.pfizer.com, through which it provides information to customers on its various products, services and business activities. The Company also operates regional websites in various languages for its international customers. Pfizer does not operate an online sales channel. Pfizer makes the majority of its sales through its own in-house sales and marketi…
Customer Relationships
- While Pfizer does maintain an online presence, the Company does not make its products available online on a self-service. Consumers are able to purchase products on a self-service basis from retail chains and pharmacies, but not directly from Pfizer. Pfizer’s customers must interact directly with the Company’s sales teams, typically agreeing long-term, multi-year contracts. Cons…
Key Activities
- Pfizer is a research-based multinational biopharmaceutical group. The Company is engaged in the developing, production and sale of prescription and over-the-counter medications and healthcare products. Pfizer’s product portfolio spans medicines, vaccines and medical devices, as well as consumer healthcare products. The Company’s commercial operatio...
Key Partners
- Pfizer partners with a range of international partners throughout the development, production and sale of its products. These partners can broadly be categorised as follows: 1. Research and Development Partners, comprising academic and healthcare institutions which assist in the development of the Company’s various products by providing expertise, resources and technolo…
Key Resources
- Pfizer’s key resources are its technologies and intellectual properties, its research and development facilities, its manufacturing and supply chain networks, its sales and distribution channels, and its personnel. Pfizer uses a range of patents and trademarks to protect its intellectual properties, which it considers to be material to its ongoing business activities. Searc…
Cost Structure
- Pfizer incurs costs in relation to the development of its products, the management of its supply chain, the production of its products, the sale and marketing of its products, the management of its partnerships, and the retention of its personnel. Pfizer accrues substantial research and development costs. In 2015 these expenses to $7.7 billion, compared to $8.4 billion in 2014. Th…
Revenue Streams
- Pfizer generates revenue through the development and sale of pharmaceutical products – including prescription medicines, over-the-counter medications, consumer healthcare products and specialist oncology solutions. The Company also derives a small amount of revenue from various alliance agreements, under which it co-promotes products created by third-party compa…
Overview
Pfizer Inc. is an American multinational pharmaceutical and biotechnology corporation headquartered on 42nd Street 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,
History
Pfizer was founded in 1849 by Charles Pfizer and Charles F. Erhart, two cousins who had immigrated to the United States from Ludwigsburg, Germany, the year before. 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 wa…
Legal issues
Pfizer has been accused of aggressive pharmaceutical marketing.
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 wa…
Environmental record
Since 2000, the company has implemented more than 4,000 greenhouse gas reduction projects.
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.
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 or…
Public-private engagement
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.
• Institute for Advanced Study - Matching gifts and direct donor.
• University of Toronto - Donor to the Boundless Campaign, and member of the President's Circle.
See also
• Biotech 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 companies
External links
• Official website
• Business data for Pfizer Inc.:
• Pfizer Inc. recipient profile on USAspending.gov