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Home Education Miscellaneous Company Histories

The Rise of Pfizer: How the Co. Grew to Become a Global Powerhouse

Ivan Golden by Ivan Golden
2 years ago
in Company Histories
Reading Time: 7 mins read
A A
Pfizer Sign II. Photo by Montgomery County Planning Commission. Flickr.

Pfizer Sign II. Photo by Montgomery County Planning Commission. Flickr.

Table of Contents

Toggle
  • The Early Years
  • Innovations and Partnerships
    • Partnerships
    • Innovation
    • Impact on Patients
  • Expansion Into Global Markets
  • Impact of Mergers & Acquisitions
    • Pfizer’s History with Mergers & Acquisitions
    • The Impact of M&A on Pfizer’s Revenue
    • Impact on Shareholder Value
  • Strategic Investment Decisions
    • Research & Development (R&D)
    • Acquisitions
    • Divestitures
  • Pfizer Today
  • Conclusion

 

Pfizer, one of the world’s leading pharmaceutical companies, is known for its groundbreaking research and development. Founded in 1849 by two cousins, Charles Pfizer, and Charles Erhart, the company has grown to become a global powerhouse.

In this article, we’ll take a closer look at the history of Pfizer and discuss the factors that have enabled it to achieve such impressive success.

 

The Early Years

In 1849, Charles Pfizer and Charles Erhart started their pharmacy business in Brooklyn, New York. Their first product was an anti-parasitic called santonin—a concoction made from powdered wormwood leaves.

The product proved popular with local customers and soon attracted national attention as well. As demand for santonin grew, so did the business; within a few years, the company had expanded into manufacturing its own drugs.

The company continued to grow over the next several decades; in 1942, it even acquired Warner-Lambert Pharmaceuticals. A move that would make it one of the largest drug companies in America.

Then in 2000, Pfizer merged with Pharmacia & Upjohn, thus making it one of the largest pharmaceutical companies in the world.

 

Pfizer Booth at the CCC 2006 in Vancouver. Photo by Sandra Cohen-Rose. Flickr.
Pfizer Booth at the CCC 2006 in Vancouver. Photo by Sandra Cohen-Rose. Flickr.

 

Innovations and Partnerships

Pfizer has been leading the way in healthcare innovation and partnerships for decades.

This multinational pharmaceutical company, headquartered in New York City, is at the forefront of many medical breakthroughs and has forged important collaborations with other industry giants.

 

Partnerships

Pfizer has partnered with some of the biggest names in healthcare to improve patient outcomes. Through collaborations with companies like Allergan and Merck, Pfizer has developed groundbreaking treatments for conditions such as cancer and diabetes.

These partnerships have also helped to improve access to innovative drugs and treatments for people around the world who may not otherwise have had access to them.

 

Innovation

Pfizer’s commitment to innovation is evident throughout its portfolio of medicines, which includes more than 500 products across a wide range of therapeutic areas. Its research team has made significant advances in areas such as cancer therapy, vaccines, gene therapy, and personalized medicine.

Through its investment in cutting-edge technologies like artificial intelligence (AI) and machine learning (ML), Pfizer is helping to revolutionize drug discovery and development processes. This allowed for more rapid delivery of new therapies to patients around the globe.

 

Impact on Patients

At the heart of it all is Pfizer’s dedication to improving patient outcomes, a goal that drives everything they do. The company’s commitment to innovation helps them stay ahead of trends in healthcare so that it can continue developing new treatments that can make a difference in people’s lives.

By forging strong partnerships with key players in the industry, Pfizer can help ensure that these life-saving medications are available to those who need them most, regardless of location or financial status.

 

Pfizer in Asia. Photo by bfishadow. Flickr.
Pfizer in Asia. Photo by bfishadow. Flickr.

 

Expansion Into Global Markets

Pfizer’s impressive growth has been driven by its commitment to providing innovative treatments and partnering with others in the industry around the world.

The company now has operations in more than 181 countries, and its products are sold in nearly all of them.

This global network allows Pfizer to bring its latest medicines and treatments to those who need them most—no matter where they are located.

 

Impact of Mergers & Acquisitions

Mergers and acquisitions (M&A) are a common phenomenon in the corporate world. In the last decade, there have been numerous high-profile M&A deals, many of which have had a significant impact on the companies involved.  Pfizer has used M&A to expand its operations around the world and gain access to new markets.

By acquiring companies such as Warner-Lambert, Pharmacia & Upjohn, Wyeth, and Medivation, Pfizer has been able to strengthen its position in the healthcare industry and create a more diverse portfolio of products.

 

Pfizer’s History with Mergers & Acquisitions

Pfizer has been no stranger to M&A over the years. Since 2000, the company has completed over 40 acquisitions and mergers. From 2000 to 2003 alone, they completed 10 acquisitions and mergers including Warner-Lambert (2000), Pharmacia (2003), and Zoetis (2013).

These deals allowed Pfizer to expand its product portfolio and tap into new markets such as animal health care and biosimilars.  The company has also used acquisitions to strengthen its presence in prevailing therapeutic areas like oncology and cardiovascular disease.

Overall, Pfizer’s history of M&A has greatly enhanced its ability to provide innovative products to patients around the world.

 

The Impact of M&A on Pfizer’s Revenue

As a result of these deals, Pfizer’s revenue has grown substantially over the years. In 2018 alone, their revenue was 78 billion dollars – 37% higher than it was in 2008 when they were still in the process of completing several major acquisitions.

The majority of this growth can be attributed to their acquisition strategy as well as their focus on innovation and research & development. As a result of their efforts, they now have one of the most expansive product portfolios in the industry with products ranging from vaccines to cancer treatments.

 

Impact on Shareholder Value

M&A deals also have had an impact on shareholder value at Pfizer due to increased revenue potential as well as greater efficiency through economies of scale.

For instance, since 2010, Pfizer’s stock price has more than doubled from $15 per share to $33 per share in 2020 – an increase was driven largely by well-executed M&A deals that have allowed them to expand into new markets and increase their market share both domestically and abroad.

 

Strategic Investment Decisions

Investors often turn to large-cap stocks like Pfizer Inc. (PFE) when looking for a safe and consistent return.

But what really goes on behind the scenes? How does one of the world’s largest drug makers make strategic investment decisions that bring long-term success?

Let’s take a closer look at how PFE has been investing in research, development, and acquisitions to build its portfolio and maximize profits.

 

Pfizer-BioNTech COVID-19 vaccine 2020. Photo by U.S. Secretary of Defense. Wikimedia.
Pfizer-BioNTech COVID-19 vaccine 2020. Photo by U.S. Secretary of Defense. Wikimedia.

 

Research & Development (R&D)

Pfizer is one of the world’s largest pharmaceutical companies, so it stands to reason that it would invest heavily in research and development (R&D).

R&D is expensive, but it’s essential for any company looking to stay competitive in the marketplace. By investing in R&D, Pfizer can develop innovative products that will appeal to customers and yield higher returns.

For example, PFE recently announced plans to invest $2 billion into the development of new treatments for cancer, heart disease, diabetes, and other conditions. This investment is expected to pay off in the long run as these treatments become available on the market.

 

Acquisitions

In addition to investing in R&D, Pfizer has also made strategic acquisitions over the years.

In 2018 alone, PFE acquired several companies including Anacor Pharmaceuticals ($5 billion), Medivation ($14 billion), Bamboo Therapeutics ($150 million), AstraZeneca’s small-molecule antibiotics business ($1.6 billion), and Array BioPharma ($11.4 billion).

These acquisitions have allowed PFE to expand its product offerings while also giving it access to new technologies that can help it remain competitive in an increasingly crowded market.

 

Divestitures

In some cases, PFE has opted for divestitures rather than acquisitions when expanding its portfolio. For example, Pfizer sold its animal health business Zoetis back to its original owners for $7 billion in 2013.

This move enabled PFE to focus more on human health products and services by freeing up resources that could be used elsewhere within the company.

Similarly, PFE sold off its consumer health business, which included popular brands such as Advil, to GlaxoSmithKline for $13 billion earlier this year as part of an effort to streamline operations and reduce costs.

 

Pfizer Today

Today, Pfizer is a global powerhouse that operates and employs more than 79,000 people worldwide and generates billions of dollars each year from its extensive portfolio of branded medications and generic drugs products.

Its flagship brands include Advil®, Viagra®, Lipitor®, Lyrica®, Zoloft®, Celebrex® and Chantix®—all of which are among some of the most recognizable medication names on the planet.

 

Conclusion

Pfizer’s success is the result of a long-term strategy that involves both research and development as well as strategic acquisitions and divestitures.

Through ongoing investments, strategic partnerships, and an unwavering commitment to patient care, Pfizer continues to be one of the leading forces behind advancements in healthcare today.

As it looks to the future, Pfizer will continue to strive for innovative solutions that bring life-saving treatments to people around the world.

Sources: THX News, Pfizer & Wikipedia.

Tags: Healthcare
Ivan Golden

Ivan Golden

Ivan Golden founded THX News™ with the goal of restoring trust in journalism. As CEO and an investigative journalist, he leads the organization's efforts to deliver unbiased, fact-checked reporting to readers worldwide. He is committed to uncovering the truth and providing context to the stories that shape our world. Read his insightful articles on THX News.

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