Pfizer

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The headquarters of Pfizer in Tokyo, Japan

Pfizer Inc. (Template:IPAc-en Template:Respell)<ref>Template:Citation</ref> is an American multinational pharmaceutical and biotechnology corporation headquartered at The Spiral in Manhattan, New York City. Founded in 1849 in New York by German entrepreneurs Charles Pfizer (1824–1906) and Charles F. Erhart (1821–1891), Pfizer is one of the oldest pharmaceutical companies in North America.

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 ($11 billion in 2023 revenues), apixaban ($6 billion in 2023 revenues), a pneumococcal conjugate vaccine ($6 billion in 2023 revenues), palbociclib ($4 billion in 2023 revenues), and tafamidis ($3 billion in 2023 revenues).<ref name=10K/> In 2023, 46% of the company's revenues came from the United States, 6% came from Japan, and 48% came from other countries.<ref name=10K>Template:Cite web</ref>

Pfizer has been a publicly traded company for nearly a century, making its debut on the New York Stock Exchange in 1942 under the ticker symbol PFE. Since then, its stock has seen ups and downs, influenced by new drug launches, regulatory shifts, and changing market demand for its medicines and vaccines. As a key player in the healthcare industry, Pfizer is part of major stock indices like the S&P 100 and S&P 500, with major institutional investors such as Vanguard and State Street holding significant stakes.<ref>Template:Cite web</ref><ref name="finance.yahoo.com">Template:Cite web</ref>

Pfizer is one of the top pharmaceutical companies in the United States, with a market capitalization of $150.35 billion as of December 31, 2024. It ranks fifth among U.S. pharma companies. As of 2024, the company holds the 69th position on the Fortune 500 list.<ref>Template:Cite web</ref><ref name="globaldata.com">Template:Cite web</ref>

History

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Charles Pfizer (1824–1906)

1849–1950: Early history

Pfizer was founded in 1849 as "Charles Pfizer & Company" by Charles Pfizer and Charles F. Erhart,<ref>Template:Cite book</ref> two cousins who had immigrated to the United States from Ludwigsburg, Germany. The business produced chemical compounds, and was headquartered on Bartlett Street<ref name="Citycyclopedia">Kenneth T. Jackson. The Encyclopedia of New York City. The New York Historical Society; Yale University Press; September 1995. P. 895. Template:ISBN</ref> in Williamsburg, Brooklyn, 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.<ref>Template:Cite news</ref> 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.Template:Cn

In 1881, Pfizer moved its administrative headquarters to 81 Maiden Lane in Manhattan, presaging the company's expansion to Chicago, Illinois, a year later.<ref name="Citycyclopedia" /><ref name=collection/> By 1906 sales exceeded $3Template:Nbspmillion.<ref name=history>Template:Cite web</ref>

World War I caused a shortage of calcium citrate. Pfizer imported the compound from Italy for the manufacture of citric acid, and due to the disruption in supply, the company began a search for an alternative.<ref name=":5">Template:Cite book</ref> They found this in the form of a fungus capable of fermenting sugar to citric acid. By 1919, the company was able to commercialize production of citric acid from this source.<ref name=":5" /> 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.<ref name=Fermentation>Template:Cite web</ref> The company also embarked on a global soil collection program related to improving production yields of penicillin which ultimately resulted in 135,000 samples.<ref>Template:Cite book</ref>

On June 2, 1942, the company incorporated under the Delaware General Corporation Law.<ref name=10K/>

1950–1980: Pivot to pharmaceutical research and global expansion

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 Template:Cvt farm and research facility in Terre Haute, Indiana.<ref name=Fermentation/>

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 $1Template:Nbspbillion in revenue.<ref name=history/>

In 1965, John Powers, Jr. became chief executive officer of the company, succeeding John McKeen.<ref name=history/>

As the area surrounding its Brooklyn, NY 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.<ref name=collection>Template:Cite web</ref>

In 1972, Edmund T. Pratt Jr. became chief executive officer of the company, succeeding John Powers, Jr.<ref name=history/>

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

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.<ref>Template:Cite web</ref>

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.<ref name="best">Template:Cite web</ref><ref>Template:Cite journal</ref>

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.<ref>Template:Cite news</ref> The patents for Viagra expired in 2020.<ref>Template:Cite news</ref>

In 1991, William C. Steere, Jr. became chief executive officers of the company, succeeding Edmund T. Pratt Jr.<ref>Template:Cite news</ref>

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 $3Template:Nbspbillion and over 100Template:Nbspmillion people had been treated with the drug.<ref>Template:Cite web</ref> The patent for Zoloft expired in the summer of 2006.<ref>Template:Cite news</ref>

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;<ref>Template:Cite web</ref> Pfizer also received approval for Norvasc (amlodipine), an antihypertensive drug of the dihydropyridine calcium channel blocker class.<ref>Template:Cite web</ref>

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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 $125Template:Nbspbillion in sales over 14.5 years.<ref>Template:Cite news</ref>

2000–2010: Further expansion

In 2001, Henry McKinnell became chief executive officer of the company, replacing William C. Steere, Jr.<ref name="longshot">Template:Cite news</ref>

In 2002, The Bill & Melinda Gates Foundation purchased stock in Pfizer.<ref>Template:Cite news</ref>

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.<ref>Template:Cite web</ref><ref>Template:Cite journal</ref><ref>Template:Cite journal</ref> The United States patent on Lyrica was challenged by generic manufacturers and was upheld in 2014, extending the expiration date to 2018.<ref>Template:Cite news</ref>

In July 2006, Jeff Kindler was named chief executive officer of the company, replacing Henry McKinnell.<ref name="longshot" /><ref>Template:Cite news</ref>

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 $1Template:Nbspbillion developing the failed drug and its stock price dropped 11% on the day of the announcement.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite journal</ref>

Between 2007 and 2010, Pfizer spent $3.3Template:Nbspmillion on investigations and legal fees and recovered about $5.1Template:Nbspmillion, and had another $5Template:Nbspmillion 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.<ref>Template:Cite news</ref>

In July 2008, Pfizer announced 275 job cuts at its manufacturing facility in Portage, Michigan. Portage was previously the world headquarters of Upjohn Company, which had been acquired as part of Pharmacia.<ref>Template:Cite news</ref><ref name=":0">Template:Cite news</ref>

Acquisitions and mergers

In June 2000, Pfizer acquired Warner-Lambert outright for $116Template:Nbspbillion. 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).<ref>Template:Cite news</ref> The acquisition created what was, at the time, the second-largest pharmaceutical company worldwide.<ref>Template:Cite news</ref>

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.<ref name=":0" /><ref>Template:Cite web</ref> 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.<ref>Template:Cite web</ref> 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.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> A related compound, SU11654 (Toceranib), was also approved for cancer in dogs, and the ALK inhibitor Crizotinib also grew out of a SUGEN program.<ref>Template:Cite news</ref><ref>Template:Cite book</ref>

In October 2006, the company announced it would acquire PowerMed.<ref>Template:Cite news</ref>

On October 15, 2009, Pfizer acquired Wyeth for $68Template:Nbspbillion in cash and stock, including the assumption of debt, making Pfizer the largest pharmaceutical company in the world.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref name="worst">Template:Cite news</ref><ref name="wyethpr">Template:Cite press release</ref> 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 ageTemplate:Nbsp5 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.<ref name="wyethpr" /> By 2012, the rate of invasive infections among children under ageTemplate:Spaces5 had been reduced by an additional 50%.<ref name="cdc.gov">Template:Cite web</ref><ref>Template:Cite web</ref>

2010–2020: Further discoveries and acquisitions

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Former headquarters on 42nd Street

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Entrance to former Pfizer World Headquarters building (1961–2023)

In 2010, Ian Read was named chief executive officer of the company.<ref>Template:Cite press release</ref>

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.<ref>Template:Cite news</ref> In March 2011, Pfizer acquired King Pharmaceuticals for $3.6Template:Nbspbillion in cash. King produced emergency injectables such as the EpiPen.<ref>Template:Cite news</ref>

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.<ref>Template:Cite news</ref> In November 2012, Pfizer received approval from the Food and Drug Administration for Xeljanz, a tofacitinib, for rheumatoid arthritis and ulcerative colitis.<ref>Template:Cite web</ref> The drug had sales of $1.77Template:Nbspbillion in 2018, and in January 2019, it was the top drug in the United States for direct-to-consumer advertising, passing adalimumab (Humira).<ref>Template:Cite magazine</ref> In 2023, the Institute for Clinical and Economic Review (ICER) identified Xeljanz (tofacitinib) as one of five high-expenditure drugs that experienced significant net price increases without new clinical evidence to justify the hikes. Specifically, Xeljanz's wholesale acquisition cost rose by 6%, leading to an additional $72 million in costs to U.S. payers.<ref>Template:Cite web</ref>

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 $2.2Template:Nbspbillion.<ref>Template:Cite press release</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref> Later in 2013, Pfizer completed the corporate spin-off of its remaining stake in Zoetis.<ref>Template:Cite news</ref><ref>Template:Cite news</ref>

In September 2014, the company acquired Innopharma for $225Template:Nbspmillion, plus up to $135Template:Nbspmillion in milestone payments, in a deal that expanded Pfizer's range of generic and injectable drugs.<ref>Template:Cite magazine</ref><ref>Template:Cite news</ref>

On January 5, 2015, the company announced it would acquire a controlling interest in Redvax, expanding its vaccine portfolio targeting human cytomegalovirus.<ref>Template:Cite news</ref> In February 2015, the company received approval from the Food and Drug Administration for palbociclib (Ibrance) for treatment of certain types of breast cancer.<ref>Template:Cite journal</ref><ref>Template:Cite web</ref> In March 2015, the company announced it would restart its collaboration with Eli Lilly and Company surrounding the Phase III trial of Tanezumab.<ref>Template:Cite news</ref> In May 2015, Pfizer and a Bar-Ilan University laboratory announced a partnership based on the development of medical DNA nanotechnology.<ref>Template:Cite news</ref> In June 2015, the company acquired Nimenrix and Mencevax, meningococcal vaccines, from GlaxoSmithKline for around $130Template:Nbspmillion.<ref>Template:Cite news</ref> In September 2015, Pfizer acquired Hospira for $17Template:Nbspbillion, including the assumption of debt.<ref>Template:Cite press release</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite web</ref><ref>Template:Cite press release</ref><ref>Template:Cite news</ref> Hospira was the largest producer of generic injectable pharmaceuticals in the world.<ref>Template:Cite news</ref> On November 23, 2015, Pfizer and Allergan announced a planned $160Template:Nbspbillion 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%.<ref>Template:Cite news</ref> The deal was to constitute a reverse merger, whereby Allergan acquired Pfizer, with the new company then changing its name to "Pfizer, plc".<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref> 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).<ref>Template:Cite news</ref><ref>Template:Cite news</ref>

In June 2016, the company acquired Anacor Pharmaceuticals for $5.2Template:Nbspbillion, expanding its portfolio in both inflammation and immunology drugs areas.<ref>Template:Cite press release</ref><ref>Template:Cite news</ref> In August 2016, the company made a $40Template:Nbspmillion bid for the assets of BIND Therapeutics, which was in bankruptcy.<ref>Template:Cite news</ref> The same month, the company acquired Bamboo Therapeutics for $645Template:Nbspmillion, expanding its gene therapy offerings.<ref>Template:Cite news</ref> In September 2016, the company acquired cancer drug-maker Medivation for $14Template:Nbspbillion.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite press release</ref> In October 2016, the company licensed the anti-CTLA4 monoclonal antibody, ONC-392, from OncoImmune.<ref>Template:Cite news</ref><ref>Template:Cite press release</ref> 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.<ref name=":4">Template:Cite web</ref> In December 2016, Pfizer acquired AstraZeneca's small-molecule antibiotics business for $1.575 billion.<ref>Template:Cite press release</ref><ref>Template:Cite news</ref><ref>Template:Cite magazine</ref>

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.<ref>Template:Cite news</ref> In July 2018, the Food and Drug Administration approved enzalutamide, developed by Pfizer and Astellas Pharma for patients with castration-resistant prostate cancer.<ref>Template:Cite press release</ref> In August 2018, Pfizer signed an agreement with BioNTech to conduct joint research and development activities regarding mRNA-based influenza vaccines.<ref>Template:Cite press release</ref> In October 2018, effective January 1, 2019, Albert Bourla was promoted to chief executive officer, succeeding Ian Read, his mentor.<ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref> In July 2019, the company acquired Therachon for up to $810Template:Nbspmillion, expanding its rare disease portfolio through Therachon's recombinant human fibroblast growth factor receptor 3 compound, aimed at treating conditions such as achondroplasia.<ref>Template:Cite news</ref> Also in July, Pfizer acquired Array Biopharma for $10.6Template:Nbspbillion, boosting its oncology pipeline.<ref>Template:Cite press release</ref> 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.<ref>Template:Cite news</ref> The transaction followed negotiations with other companies including Reckitt Benckiser,<ref>Template:Cite magazine</ref> Sanofi, Johnson & Johnson,<ref>Template:Cite magazine</ref> and Procter & Gamble.<ref>Template:Cite magazine</ref> 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.<ref name=":4" /> 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.<ref name=":4" />

2020-onwards: pandemic, corporate development, and Trump tariffs

COVID-19 and vaccine development

In March 2020, Pfizer joined the COVID-19 Therapeutics Accelerator funding vehicle to expedite development of treatments against COVID-19.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> 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.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

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.<ref>Template:Cite web</ref> Pfizer joined the partnership as an industry "leadership organization", and participated as a collaborator in ACTIV-led clinical trials.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> CEO Albert Bourla attended the GAVI COVAX AMC 2021 Investment Opportunity Launch Event, otherwise named One World Protected, on April 15, 2021.<ref>Template:Cite web</ref>

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.<ref name=":3">Template:Cite web</ref>

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."<ref>Template:Cite news</ref>

In May 2020, Pfizer began testing four different COVID-19 vaccine variations using lipid nanoparticle technology provided by Canadian biotechnology company Acuitas Therapeutics.<ref name=":22">Template:Cite web</ref> 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.<ref>Template:Cite web</ref> The company began PhaseTemplate:SpacesII-III testing on 30,000 people in the last week of July 2020 and was slated to be paid $1.95Template:Spacesbillion for 100Template:Nbspmillion doses of the vaccine by the US government.<ref>Template:Cite news</ref> In September 2020, Pfizer and BioNTech announced that they had completed talks with the European Commission to provide an initial 200Template:Nbspmillion vaccine doses to the EU, with the option to supply another 100Template:Nbspmillion doses at a later date.<ref>Template:Cite news</ref>

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.<ref>Template:Cite news</ref> The efficacy was updated to 95% a week later.<ref name=":1">Template:Cite web</ref> Akiko Iwasaki, an immunologist interviewed by The New York Times, described the efficacy figure as "really a spectacular number."<ref>Template:Cite news</ref> The announcement made Pfizer and BioNTech the first companies to develop and test a working vaccine for COVID-19.<ref name=":1" />

Over the following month and a half, regulators in various countries approved Pfizer's vaccine for emergency use.<ref>Template:Cite web</ref><ref name="Bahrain Approves Covid-19 Vaccine (Al Jazeera)">Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref>

Controversy

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.<ref name="bullied">Template:Cite news</ref> 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.<ref name="bullied"/>

In 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.<ref>Template:Cite news</ref> 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".<ref>Template:Cite web</ref> 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."<ref>Template:Cite news</ref>

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.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> Dutch MEP Rob Roos described the admission as "scandalous".<ref>Template:Cite web</ref> CEO Albert Bourla was slated to attend, but withdrew.<ref>Template:Cite web</ref> Roos' statements in turn have been described as "misleading".<ref>Template:Cite web</ref>

Development of oral antivirals

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.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> In May 2022, reports emerged of patients experiencing "rebound" symptoms after completing a five-day course of Paxlovid.<ref>Template:Cite news</ref> The FDA responded by announcing they had performed additional analyses of the drug's clinical trial data, and decided against changing its recommendations.<ref>Template:Cite journal</ref> 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.<ref>Template:Cite web</ref>

Corporate developments and acquisitions

In September 2020, the company acquired a 9.9% stake in CStone Pharmaceuticals for $200Template:Nbspmillion (HK$1.55Template:Nbspbillion), helping to commercialise its anti-PD-L1 monoclonal antibody, CS1001.<ref>Template:Cite news</ref> In October 2020, the company acquired Arixa Pharmaceuticals.<ref>Template:Cite magazine</ref> 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.<ref>Template:Cite news</ref><ref>Template:Cite news</ref>

On January 5, 2021, Pfizer introduced a new logo.<ref>Template:Cite news</ref> In April 2021, Pfizer acquired Amplyx Pharmaceuticals and its anti-fungal compound fosmanogepix (APX001).<ref>Template:Cite magazine</ref><ref>Template:Cite news</ref> In August, the company announced it would acquire Trillium Therapeutics Inc and its immuno-oncology portfolio for $2.3 billion.<ref>Template:Cite news</ref><ref>Template:Cite web</ref>

In March 2022, the company acquired Arena Pharmaceuticals for $6.7 billion in cash.<ref>Template:Cite press release</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> 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.<ref>Template:Cite news</ref><ref>Template:Cite web</ref> In October 2022, the company acquired Biohaven Pharma and its calcitonin gene-related peptide programs for $11.6 billion.<ref>Template:Cite web</ref><ref>Template:Cite press release</ref><ref>Template:Cite web</ref> It also acquired Global Blood Therapeutics for $5.4 billion, boosting Pfizer's rare disease business.<ref>Template:Cite press release</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref>

In April 2023, Pfizer moved its world headquarters from 42nd Street in Midtown Manhattan to the Spiral at Hudson Yards.<ref>Template:Cite news</ref><ref>Template:Cite magazine</ref>

In December 2023, the company acquired Seagen, a pioneer of antibody–drug conjugates for the treatment of cancer, for $43Template:Nbspbillion.<ref>Template:Cite news</ref><ref>Template:Cite press release</ref>

On Sept 30, 2024, Pfizer announced its intentions to sell 540 million Haleon shares whose worth is about  £2.1 billion ($2.8 billion)  according to Bloomberg calculations.<ref>Template:Cite web</ref>

In the third quarter of 2024, Pfizer reported $17.7 billion in revenue, a 32% year-over-year increase, driven by Paxlovid ($2.7 billion) and Comirnaty ($1.4 billion). Excluding COVID-19 products, core revenue grew 14% to $13.6 billion, led by Vyndaqel sales (up 63%) and $854 million from legacy Seagen products. The company raised its 2024 revenue guidance to $61.0–$64.0 billion and adjusted diluted earnings per share to $2.75–$2.95. Pfizer remains on track for $5.5 billion in cost savings, with $4 billion expected by 2024 and $1.5 billion by 2027. Reported diluted earnings per share was $0.78, and adjusted diluted earnings per share was $1.06. The company ranks 69th on the Fortune 500 of the same year.<ref>Template:Cite web</ref>

Partnership with Flagship Pioneering

In July 2024, Pfizer and Flagship Pioneering announced an "Innovation Supply Chain" partnership to co-develop 10 drug candidates. Each party committed $50 million upfront, leveraging Flagship’s ecosystem of over 40 startups to align with Pfizer’s priorities. Pfizer will fund the selected programs and has the option to license or acquire assets, with potential success milestones and royalties reaching up to $700 million per commercialized drug. Two programs, focused on obesity and cardiovascular diseases, have already been initiated.<ref name=FBT>Template:Cite web</ref>

The partnership represents a new model in pharmaceutical R&D, focusing on early collaboration with startups to streamline drug development. For startups, the model provides an opportunity for early engagement with pharmaceutical companies, offering potential funding and reduced uncertainty in development programs.<ref name=FBT/>

Collaboration with Ignition AI Accelerator

In October 2024, Pfizer announced a partnership with the Ignition AI Accelerator, a collaborative initiative by NVIDIA, Tribe, and Digital Industry Singapore (DISG). The collaboration aims using artificial intelligence to expedite drug discovery and development processes, improve operational efficiency, and streamline stakeholder engagement. The initiative also focuses on optimizing manufacturing processes, including improving yields and reducing cycle times.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

Expanding AI Collaboration for Clinical Trials with Saama

Saama and Pfizer reached an expanded multi-year agreement to integrate AI-driven solutions across Pfizer's R&D portfolio, building on their 2020 partnership. Initially the partnership focused on automating data review processes with the Smart Data Quality (SDQ) platform — developed during Pfizer’s COVID-19 vaccine trials — the partnership as of 2024 scales to streamline data review and accelerate regulatory submissions across global studies. The expanded collaboration introduces Saama’s Biometrics Research and Analysis Information Network, enabling faster statistical programming, biostatistics workflows, and submission-ready outputs.<ref>Template:Cite news</ref>

Acquisition history

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Areas of focus

Pfizer focuses on addressing critical health challenges through innovation in various therapeutic areas. In the field of rare diseases, the company develops treatments for conditions such as Duchenne muscular dystrophy, hemophilia, sickle cell disease, and Gaucher disease, with an inclination on gene therapy and improving diagnostic resources for patients with unmet medical needs.<ref>Template:Cite web</ref>

Internal medicine

Pfizer has a longstanding history in vaccines, contributing to breakthroughs in diseases like polio and smallpox. Currently, the company focuses on vaccines for pneumococcal and meningococcal diseases, influenza, respiratory syncytial virus (RSV), Lyme disease, and Clostridioides difficile.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> It also invests in maternal and neonatal vaccines, cancer prevention, and efforts to mitigate hospital-acquired infections. It also works in advancing therapies for issues related to metabolic and cardiovascular health, including obesity, type 2 diabetes, insulin resistance, and non-alcoholic fatty liver disease (NAFLD).<ref>Template:Cite web</ref>

Obesity Treatment Developments

Pfizer has advanced its obesity treatment research through the development of danuglipron, an oral glucagon-like peptide-1 (GLP-1) receptor agonist:<ref name="techtarget">Template:Cite web</ref>

• Danuglipron Development: Initial trials of the twice-daily formulation showed potential for weight loss and blood sugar management.

• New Formulation: A once-daily modified-release version has been identified for further study, showing a suitable pharmacokinetic profile and no significant safety issues in trials involving 1,400 participants.

Dose optimization trials are planned for late 2024 to support large-scale registration studies.<ref name="techtarget"/>

Oncology

Pfizer develops targeted therapies to treat multiple cancer types, including bladder, breast, cervical, lung, and colorectal cancers, as well as hematological malignancies. The company conducts research on precision medicine and immunotherapy, aiming to improve survival rates and quality of life for cancer patients. Specially, the acquisition of Seagen has supported further development of oncology treatments, including mRNA cancer vaccines.<ref name="Driving equitable">Template:Cite web</ref>

• Prostate Cancer: The EMBARK trial showed improved metastasis-free survival in high-risk, non-metastatic prostate cancer patients, leading to the FDA approval of a combination therapy in 2023.<ref>Template:Cite web</ref>

• The TALAPRO-2 study explored treatments for metastatic prostate cancer with homologous recombination repair mutations, which are found in 25% of cases.<ref>Template:Cite web</ref>

• Bladder Cancer: The EV-302 study investigated new treatments for advanced urothelial cancer, focusing on improving care for hard-to-treat patient groups.<ref>Template:Cite web</ref>

Advances in AI, Gene Therapy, and Breakthrough Treatments

Pfizer has also started initiatives which aim to address healthcare challenges across various regions and therapeutic areas in advancements in artificial intelligence (AI), gene therapy, obesity treatments, and oncology research. In 2023, Pfizer’s affordability and access programs reached 45 million patients in the MERA region, supported by the IUdo app, which was launched in Egypt, Qatar, and Lebanon to facilitate patient access to care. In 2024, Pfizer focuses on integrating AI and gene therapy in the Middle East, Russia, and Africa (MERA) region, with its headquarters in Dubai.<ref name="Driving equitable"/> Key initiatives include:

• Personalized Healthcare: Omnichannel strategies are being used to provide tailored healthcare solutions for patients and professionals.<ref>Template:Cite web</ref>
• AI-Powered Education Programs: AI-driven atrial fibrillation programs localized educational materials into multiple languages, increasing accessibility.
• Rare Disease Research: Collaboration with the Abu Dhabi Department of Health to analyze real-world data on Sickle Cell Disease using AI.<ref>Template:Cite web</ref>

Legal issues

Aggressive pharmaceutical marketing

Template:See also Pfizer has been accused of aggressive pharmaceutical marketing.<ref>Template:Cite news</ref><ref>Template:Cite journal</ref><ref>Template:Cite journal</ref>

2004 Illegal marketing of gabapentin for off-label uses settlement

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.<ref>Template:Cite journal</ref> In 2004, the company paid $430Template:Nbspmillion 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.<ref>Template:Cite journal</ref> A Cochrane review concluded that gabapentin is ineffective in migraine prophylaxis.<ref>Template:Cite journal</ref> 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.<ref>Template:Cite journal</ref>

2009 Illegal marketing of Bextra settlement

In September 2009, Pfizer pleaded guilty to the illegal marketing of arthritis drug valdecoxib (Bextra) and agreed to a $2.3Template:Nbspbillion settlement, the largest health care fraud settlement at that time.<ref>Template:Cite web</ref> 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.<ref>Template:Cite news</ref> It was Pfizer's fourth such settlement in a decade.<ref name=Settle/><ref name=Improper>Template:Cite news</ref><ref name=fine/> The payment included $1.195Template:Nbspbillion in criminal penalties for felony violations of the Federal Food, Drug, and Cosmetic Act, and $1.0Template:Nbspbillion 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.<ref name=Settle>Template:Cite news</ref><ref name=Improper/><ref name=fine>Template:Cite news</ref> 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.<ref>Template:Cite web</ref>

Termination of Peter Rost

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.<ref>Template:Cite web</ref><ref>Template:Cite news</ref>

2014 Illegal marketing of Rapamune settlement

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.<ref>Template:Cite magazine</ref> 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 $491Template:Nbspmillion in civil and criminal penalties related to Rapamune.<ref>Template:Cite magazine</ref>

2014 Illegal marketing settlement

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.<ref>Template:Cite news</ref><ref>Template:Cite news</ref> 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.<ref>Template:Cite magazine</ref><ref>Template:Cite news</ref> 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."<ref name=toobig/> The case was settled in 2014 for $325Template:Nbspmillion.<ref>Template:Cite news</ref> 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."<ref name=toobig>Template:Cite news</ref>

2013 Quigley Company asbestos settlement

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 $964Template:Nbspmillion: $430Template:Nbspmillion to 80% of existing plaintiffs and place an additional $535Template:Nbspmillion 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 $535Template:Nbspmillion, $405Template:Nbspmillion is in a 40-year note from Pfizer, while $100Template:Nbspmillion is from insurance policies.<ref>Template:Cite news</ref>

1994 Shiley defective heart valves settlement

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 $10.75Template:Nbspmillion to settle claims by the United States Department of Justice that the company lied to get approval for the valves.<ref>Template:Cite news</ref>

2010 Firing of employee that filed suit

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.<ref>Template:Cite news</ref> 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 $1.37Template:Nbspmillion.<ref>Template:Cite news</ref>

2012 Celebrex intellectual property settlement

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 $9.7Template:Nbspbillion. 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 $450Template:Nbspmillion.<ref>Template:Cite news</ref>

2011 Nigeria Trovafloxacin lawsuit settlement

Template:Main 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.<ref>Template:Citation</ref> Tests in animals showed that Trovan had life-threatening side effects, including joint disease, abnormal cartilage growth, liver damage, and a degenerative bone condition. Pfizer’s representatives did not alert the parents or patients about the serious risks involved, or tell them about an effective conventional treatment that Doctors without Borders was providing at the same site.<ref>Template:Cite web</ref> Local Kano officials reported that more than fifty children died in the experiment, while many others developed mental and physical deformities such as blindness, deafness, paralysis, and brain damage.<ref>Template:Cite news</ref> 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.<ref>Template:Cite journal</ref> In 2001, families of the children, as well as the governments of Kano and Nigeria, filed lawsuits regarding the treatment.<ref>Template:Cite news</ref> 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."<ref name="DN">Template:Cite news</ref> 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.<ref>Template:Cite news</ref><ref>Template:Cite news</ref>

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.<ref>Template:Cite web</ref>

In June 2010, the US Supreme Court rejected Pfizer's appeal against a ruling allowing lawsuits by the Nigerian families to proceed.<ref>Template:Cite news</ref>

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.<ref>Template:Cite news</ref> The Washington Post reporter Joe Stephens, who helped break the story in 2000, called these actions "dangerously close to blackmail".<ref name=DN/> In response, the company released a press statement describing the allegations as "preposterous" and saying that it acted in good faith.<ref>Template:Cite press release</ref> Aondoakka, who had allegedly demanded bribes from Pfizer in return for a settlement of the case,<ref>Template:Cite news</ref> was declared unfit for office and had his U.S. visa revoked in association with corruption charges in 2010.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

The lawsuits were eventually settled out of court. Pfizer committed to paying Template:US$ "to compensate the families of children in the study", another $30 million to "support healthcare initiatives in Kano", and $10 million to cover legal costs. Payouts began in 2011.<ref>Template:Cite journal</ref>

2022 Inflating Prices fine

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.<ref>Template:Cite web</ref>

2022 Allegations of patent infringement on mRNA technology

In August 2022, Moderna announced that it will sue Pfizer and its partner BioNTech for infringing their patent on the mRNA technology.<ref>Template:Cite news</ref> In May 2024, the European Patent Office upheld the validity of Moderna's EP949 patent, one of the two patents asserted against Pfizer and BioNTech.<ref>Template:Cite web</ref>

Impact of US Administration-Imposed Tariffs on Pfizer

Per Yahoo Finance, Pfizer maintains a wide economic moat supported by steady cash flows and a diversified portfolio of patent-protected drugs, along with scale advantages in research and development.<ref>Template:Cite web</ref>

As several media outlets note, Pfizer's role in global healthcare provides it with some insulation from international tariff disputes, as pharmaceutical products are generally exempt from tariffs under international trade agreements and governmental trade policies.<ref>Template:Cite news</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> Per The Wall Street Journal, Health Care Industry and Consumer staples are among the least impacted.<ref>Template:Cite news</ref> In February 2025, Pfizer’s CEO Albert Bourla emphasized the company’s ability to mitigate potential future tariffs by shifting manufacturing to its 13 U.S. facilities, including large-scale sites dedicated to sterile injectables and antibody production.<ref>Template:Cite news</ref>

Donald Trump said in February 2025 that he was considering four exemptions to reciprocal tariffs, including pharmaceutical industries.<ref>Template:Cite news</ref>

Environmental record

Since 2000, the company has implemented more than 4,000 greenhouse gas reduction projects.<ref>Template:Cite news</ref>

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.<ref>Template:Cite web</ref> 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.<ref>Template:Cite news</ref>

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.<ref>Template:Cite news</ref>

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.

Academia

• Institute for Advanced Study – Matching gifts and direct donor.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
• University of Toronto – Donor to the Boundless Campaign,<ref>Template:Cite web</ref> and member of the President's Circle.<ref>Template:Cite web</ref>
• 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.<ref>Template:Cite web</ref>

Activism

• Habitat for Humanity – Donor.<ref>Template:Cite web</ref>
• Human Rights Campaign (HRC) – Corporate partner.<ref>Template:Cite web</ref>
• National Women's Law Center – Donor.<ref>Template:Cite web</ref>
• Share Our Strength – Donor.<ref>Template:Cite web</ref>
• WaterAid – Partner.<ref>Template:Cite web</ref>

Conferences and summits

• Women in Medicine Summit – Sponsor.<ref>Template:Cite web</ref>
• World Neuroscience Innovation Forum – Strategic partner.<ref>Template:Cite web</ref>

Media

During the COVID-19 pandemic, Pfizer engaged many forms of media to promote their COVID-19 vaccine, including a commissioned National Geographic documentary.<ref>Template:Cite magazine</ref> Pfizer is also a donor to the National Geographic Society.<ref>Template:Cite web</ref>

Pfizer was a prominent sponsor of the 2022 Oscars ceremony alongside BioNTech.<ref>Template:Cite magazine</ref>

Pfizer has been a major donor to the National Press Foundation.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> 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.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

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.<ref>Template:Cite web</ref>

Medical societies

• American Society of Hematology – Sponsor.<ref>Template:Cite web</ref>
• 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.<ref>Template:Cite web</ref>
• Canadian Cancer Society – Sponsor.<ref>Template:Cite web</ref>
• Canadian Paediatric Society – Funding. CPS is the organization that administers the Canadian Immunization Monitoring Program, Active (IMPACT) vaccine safety program.<ref name=":2">Template:Cite web</ref>
• Canadian Society of Internal Medicine – Annual conference sponsor with Bristol Myers Squibb.<ref>Template:Cite web</ref>
• Endocrine Society – Corporate Liaison Board member.<ref>Template:Cite web</ref>
• European Society of Cardiology – Sponsor of the EURObservational Research Programme.<ref>Template:Cite web</ref>
• Spanish Cardiac Society – Strategic partner.<ref>Template:Cite web</ref>

Political lobbying

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.<ref>Template:Cite web</ref>
• Alliance for a Stronger FDA – Member.<ref>Template:Cite web</ref>
• AMR Industry Alliance – Member.<ref>Template:Cite web</ref>
• BIOTECanada – Member company.<ref>Template:Cite web</ref><ref>Template:Cite news</ref>
• Bipartisan Policy Center – Donor.<ref>Template:Cite web</ref>
• The Business Council – Member, represented by CEO Albert Bourla.<ref>Template:Cite web</ref>
• Business Council for the United Nations – Member.<ref>Template:Cite web</ref>
• Center on Budget and Policy Priorities – Funder.<ref>Template:Cite web</ref>
• Community Anti-Drug Coalitions of America (CADCA) – Partner.<ref>Template:Cite web</ref>
• COVID-19 Vaccine Education and Equity Project – Sponsor.<ref>Template:Cite web</ref>
• European Federation of Pharmaceutical Industries and Associations – Member.<ref>Template:Cite web</ref>
• 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.<ref>Template:Cite web</ref>
• Global Health Council – Member.<ref>Template:Cite web</ref>
• Immunisation Coalition (Australia) – Sponsor.<ref>Template:Cite web</ref>
• Innovative Medicines Canada – Member. IMC is an association of pharmaceutical companies doing business in Canada.<ref>Template:Cite web</ref><ref>Template:Cite news</ref> 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.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref>
• International Federation of Pharmaceutical Manufacturers & Associations (IFPMA) – Member.<ref>Template:Cite web</ref>
• Life Sciences British Columbia (LSBC) – Member company and Platinum Sponsor.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
• National Health Council (NHC) – Member organization. NHC is a non-profit organization that lobbies the U.S. Government on issues related to healthcare reform.<ref>Template:Cite web</ref>
• National Pharmaceutical Council (NPC) – Member company.<ref>Template:Cite web</ref>
• Personalized Medicine Coalition (PMC) – Member.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
• Pharmaceutical Advertising Advisory Board (PAAB) – Client.<ref>Template:Cite web</ref>
• Pharmaceutical Research and Manufacturers of America (PhRMA) – Member company.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
• Reagan-Udall Foundation for the Food and Drug Administration – Donor.<ref>Template:Cite web</ref>
• Research!America – Member organization.<ref>Template:Cite web</ref>
• U.S. Global Leadership Coalition – Member.<ref>Template:Cite web</ref>
• World Economic Forum – Member organization.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

Scott Gottlieb, who resigned as FDA commissioner in April 2019, joined the Pfizer board of directors three months later, in July 2019.<ref>Template:Cite news</ref>

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."<ref>Template:Cite web</ref>

Professional associations

• Academy of Surgical Research (ASR) – 2021 Annual Meeting sponsor.<ref>Template:Cite web</ref>
• American Statistical Association (ASA) – Corporate supporter.<ref>Template:Cite web</ref>
• Bioscience Association Manitoba (BAM) – Sponsor.<ref>Template:Cite web</ref>
• British Columbia Pharmacy Association (BCPA) – Event sponsor.<ref>Template:Cite web</ref>
• Canadian Association for Clinical Microbiology and Infectious Diseases (CACMID) – Patron (former).<ref>Template:Cite web</ref>
• Canadian Association of Emergency Physicians (CAEP) – Corporate partner.<ref>Template:Cite web</ref>
• Canadian Association of Medical Oncologists – Annual meeting sponsor.<ref>Template:Cite web</ref>
• Canadian Medical Association – Sponsor. In 2009, Pfizer partnered with the CMA to launch a continuing medical education course for physicians.<ref>Template:Cite news</ref>
• Canadian Pharmacists Association and Canadian Pharmacists Journal – Sponsor.<ref>Template:Cite journal</ref>
• Canadian Public Health Association - Sponsor.<ref>Template:Cite web</ref>
• Canadian Rheumatology Association – Sponsor.<ref>Template:Cite web</ref>
• Canadian Urological Association – Sponsor.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
• Ontario Medical Association (OMA) – Donor to the Ontario Medical Foundation.<ref>Template:Cite web</ref>
• Pharmacy Association of Nova Scotia – Sponsor.<ref>Template:Cite web</ref>

Public health

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.<ref name=":3" /> 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.<ref>Template:Cite web</ref>
• Dana–Farber Cancer Institute – Donor.<ref>Template:Cite web</ref>
• Federation of Medical Women of Canada – Sponsor.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
• Food Allergy Canada – Corporate partner, providing funding and advocacy support.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
• Hospital for Sick Children (SickKids) – Donor to the SickKids Foundation.<ref>Template:Cite web</ref>
• Medical Teams International – Corporate donor.<ref>Template:Cite web</ref>
• North Bay Regional Health Center – Donor to the NBRHC Foundation.<ref>Template:Cite web</ref>
• Princess Margaret Cancer Centre (PMCC) – Conference sponsor,<ref>Template:Cite web</ref> and donor to the Princess Margaret Cancer Foundation.<ref>Template:Cite web</ref>
• Scarborough Health Network (SHN) – Donor to the SHN Foundation.<ref>Template:Cite web</ref>
• Sinai Health Foundation – Donor. The foundation funds Mount Sinai Hospital, Bridgepoint Active Healthcare, and the Lunenfeld-Tanenbaum Research Institute in Toronto, Ontario.<ref>Template:Cite web</ref>
• Sunnybrook Health Sciences Centre – Donor.<ref>Template:Cite web</ref>
• University Hospitals Kingston Foundation – Donor.<ref>Template:Cite web</ref> UHKF raises funds for the Kingston Health Sciences Centre and Providence Care.
• William Osler Health System – Event sponsor.<ref>Template:Cite web</ref>

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."<ref name=":2" /><ref>Template:Cite web</ref>

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.”<ref>Template:Cite web</ref>

Research and development

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.<ref>Template:Cite web</ref> 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).<ref>Template:Cite web</ref>
• Alliance for Regenerative Medicine – Member organization.<ref>Template:Cite web</ref> The alliance is an international advocacy organization supporting the development of regenerative medicines including gene therapy and stem-cell therapy.
• Arthritis Australia – Donor.<ref>Template:Cite web</ref>
• BioFIT – Sponsor.<ref>Template:Cite web</ref> BioFIT holds events to connect academia, pharmaceutical companies, and investors in the field of life sciences and biotechnology.
• Canadian Frailty Network – Industry partner.<ref>Template:Cite web</ref> CFN has provided research grants related to COVID-19.<ref>Template:Cite web</ref>
• Colorectal Cancer Canada – Sponsor.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
• Drugs for Neglected Diseases Initiative – Partner.<ref>Template:Cite web</ref> 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.<ref>Template:Cite web</ref>
• Heart and Stroke Foundation of Canada – National corporate partner and sponsor.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
• Lung Health Foundation – Partner.<ref>Template:Cite web</ref> Funds research into infectious lung disease and lobbying for policy changes.
• Mentoring in IBD – Sponsor. Annual educational program for Canadian gastroenterologists.<ref>Template:Cite web</ref>
• Mount Sinai Hospital (Toronto) – Sponsor for research into infectious diseases such as COVID-19 through educational grants.<ref>Template:Cite web</ref>
• Nova Scotia Chronic Pain Collaborative Care Network – Investment in Canadian health research.<ref>Template:Cite web</ref>
• Ontario Hospital Research Institute (OHRI) – Research grants.<ref>Template:Cite web</ref>
• Pinnacle Research Group – Sponsor.<ref>Template:Cite web</ref>
• Radcliffe Cardiology – Industry partner.<ref>Template:Cite web</ref>
• Truth Initiative – Featured partner.<ref>Template:Cite web</ref> The initiative performs research and policy studies related to the reduction of tobacco use in youth.

The Pfizer Award

The Pfizer Award, established in 1958 by Pfizer, Inc., recognizes exceptional books on the history of science. The prize includes a medal and $2,500. Eligible books must be published in English within the three years preceding the competition year (e.g., for 2024, books from 2021–2023). Edited volumes and books with more than two authors are excluded, though multi-volume works by one or two authors may qualify once all volumes are published. While books with themes in medicine or technology may be considered, the award prioritizes works focused on the history of science. The prize is not divided between multiple books.<ref name="hssonline.org/page">Template:Cite web</ref>

The Royal Society Pfizer Award/The Royal Society Africa Prize

The Royal Society Pfizer Award, established in 2006 with support from Pfizer Inc., recognized African research scientists contributing innovatively to biological and basic medical sciences, with a focus on capacity building in Africa. Recipients received a bronze medal, £1,000, and an £11,000 research grant for a project affiliated with an African scientific institution, such as a university or research center. The award was last presented in 2016 and has since been replaced by the Royal Society Africa Prize.<ref>Template:Cite web</ref>

Philanthropy

The Pfizer Foundation

The Pfizer Foundation, established in 1953, is a charitable organization dedicated to building healthier communities worldwide. It operates independently of Pfizer Inc., with its mission centered on addressing global health challenges, supporting urgent health needs, and empowering Pfizer employees to create meaningful impacts in their communities.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

The foundation also supports specific initiatives such as improving breast cancer care in Rwanda, empowering women and driving progress through Integrated Health Services in Benin, addressing vaccine access for zero-dose children in Nigeria, and collaborating with organizations like Direct Relief to strengthen healthcare providers in the United States.<ref>Template:Cite web</ref>

Pfizer's Global Recognitions

Pfizer has received numerous accolades and recognitions worldwide for its efforts in fostering an inclusive and equitable work environment beside the pharmaceutical activities.

In the United States, Pfizer earned a 100% score from the Human Rights Campaign (2025) on the Corporate Equality Index for LGBTQ workplace equality <ref>Template:Cite web</ref> and ranked highly in the Hispanic Association on Corporate Responsibility (2024) Corporate Inclusion Index. Pfizer was named a “Best Place to Work for Disability Inclusion” in the Disability Equality Index (2024) and received awards such as Top Diverse Employer, Top Hispanic Employer, and Top Disability-Friendly Company by DiversityComm, Inc. (2024). Other recognitions include being named one of "America's Greatest Workplaces" by Newsweek (2023),<ref>Template:Cite web</ref> Clinical Trials Arena Excellence Awards 2023, inclusion in the top 10 of the “World’s Most Admired Companies” by Fortune (2023), and being listed as a Top Employer for Diversity and Best Employer for Women by Forbes (2022). Pfizer was also recognized as a “Best Place to Work” by Glassdoor (2021) and a Top Employer by Science (2021) for its practices during the pandemic.<ref name="pharmavoice.com/news">Template:Cite web</ref>

Pfizer For All

Pfizer has introduced PfizerForAll, a digital platform designed to streamline access to healthcare and wellness resources in the United States. The platform supports individuals with common conditions like the flu, COVID-19, and migraines, as well as those seeking adult vaccinations.<ref>Template:Cite web</ref> It integrates services such as same-day access to healthcare professionals, home delivery of prescriptions and diagnostic tests, appointment scheduling, and financial assistance for Pfizer medications. Partnering with organizations like UpScriptHealth, Alto Pharmacy, and Instacart, PfizerForAll aims to simplify tasks like prescription fulfillment and accessing savings programs. Pfizer plans to expand the platform to address a wider range of healthcare needs and enhance user experience.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

Corporate affairs

Board of directors

Template:As of, the company's board consisted of the following directors:<ref>Template:Cite web</ref>

• Ronald E. Blaylock, Managing Partner of GenNx360 Capital Partners
• Albert Bourla, CEO of Pfizer
• Mortimer J. Buckley, former CEO of The Vanguard Group
• Sue Desmond-Hellmann, former CEO of The Bill and Melinda Gates Foundation
• Joseph J. Echevarria, former CEO of Deloitte LLP
• Scott Gottlieb, former Commissioner of the FDA
• Helen Hobbs, Professor at the University of Texas Southwestern Medical Center
• Susan Hockfield, 16th President of the Massachusetts Institute of Technology
• Dan Littman, professor of Molecular Immunology at New York University
• Shantanu Narayen, CEO of Adobe
• Suzanne Nora Johnson, former Vice Chairman of Goldman Sachs
• James Quincey, CEO of The Coca-Cola Company
• James C. Smith, former CEO of Thomson Reuters
• Cyrus Taraporevala, former President and CEO of State Street Global Advisor

Ownership

Template:As of, the largest shareholders of Pfizer were:<ref>Template:Cite web</ref>

• The Vanguard Group (9.11%)
• BlackRock (7.69%)
• State Street (5.13%)
• Wellington Management Group (2.89%)
• Charles Schwab Corporation (2.30%)
• Geode Capital Management (2.08%)
• Norges Bank (1.48%)
• Morgan Stanley (1.38%)
• Massachusetts Financial Services (1.26%)
• State Farm (0.96%)

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

• Template:Official website
• Template:OpenSecrets