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Health and Human Services Secretary Alex Azar said that the US was currently manufacturing doses for all six potential vaccines backed by President Donald Trump's government across more than 23 manufacturing facilities. These includes vaccines from Moderna, Pfizer, AstraZeneca and Johnson & Johnson, which are all in late-stage testing.
Pfizer is a research-based multinational biopharmaceutical corporation that develops, manufactures, and distributes healthcare products. Medicines and vaccines are part of its global portfolio. The Pfizer–BioNTech COVID-19 vaccine is an mRNA-based COVID-19 vaccine that is marketed under the brand name Comirnaty. It is given to people aged 16 and up to protect them from infection with the SARS-CoV-2 virus, which causes COVID-19.
This article will give you a complete Company Profile of Pfizer. Know all about Pfizer history, business model, founders, revenue, acquisition, covid-19 vaccine & more...
Pfizer - Company Highlights
- Company Name-Pfizer Inc.
- Headquarters-New York City, New York
- Industry-Pharmaceutical
- Founders-Charles Pfizer and Charles F. Erhart
- Founded-1849
- Products-Pharmaceuticals, vaccines
- Current CEO-Albert Bourla
- Areas Served-Worldwide
- Website-pfizer.in
Pfizer - Latest News
Pfizer/BioNTech has filed an application with the US Food and Drug Administration for full FDA approval of its Covid-19 vaccine for people aged 16 and up as of May 2021, according to the companies. This is the first Covid-19 vaccine to be evaluated by the FDA for complete approval in the United States.
The FDA has granted emergency use authorization (EUA) to Pfizer's mRNA two-shot vaccine for use in the United States. To date, 170 million doses of the vaccine have been distributed throughout the United States, according to the firms.
"We are proud of the tremendous progress we've made since December in delivering vaccines to millions of Americans, in collaboration with the U.S. Government," Albert Bourla CEO of Pfizer, said in a statement.
"We look forward to working with the FDA to complete this rolling submission and support their review, with the goal of securing full regulatory approval of the vaccine in the coming months."
About Pfizer and How it Works?
Pfizer is a research-based multinational biopharmaceutical corporation that develops, manufactures, and distributes healthcare products. Medicines and vaccines are part of its global portfolio.
Cholesterol-lowering Lipitor, pain-relieving Celebrex and Lyrica, pneumonia vaccine Prevnar, and erectile dysfunction medication Viagra, as well as arthritis medicine Enbrel, antibiotic Zyvox, and blood-thinning Eliquis, are among the company's top prescription items. Generic medications and consumer health goods are also manufactured and sold by the company.
In partnership with BioNTech SE, a German biotechnology firm, Pfizer recently produced an mRNA-based vaccine for COVID-19. The vaccine's efficacy has been verified in several trials to be between 90 and 100 percent.
Pfizer - Mission and Vision
The vision statement of Pfizer is - “Innovate to bring therapies to patients that significantly improve their lives.”
Pfizer mission statement is “to become the world's most valued company to all of these people.” It zeroes down on the achievements that the company desires while at the same time meeting the expectations of all its patients. It focuses on the company's desired outcomes while still meeting all of its patients' needs.
Pfizer - Founder and History
Charles Pfizer and Charles Erhart, cousins who had immigrated to the United States from Ludwigsburg, Germany, founded Pfizer in 1849.
The company, which was based on Bartlett Street in Williamsburg, New York, developed chemical compounds, including an antiparasitic called santonin. Both in their mid-20s, the two men started a fine chemicals company in a Brooklyn factory with a loan from Pfizer's father. Pfizer's chemist skills were combined with Erhart's confectioner training in the company's first product, a palatable anti-parasitic drug that tasted like toffee. It was a huge success, and it set the tone for the company's future growth.
The American Civil War, which broke out shortly after in 1862, had an equal effect on the emerging pharmaceutical industry as it did on American society as a whole. Drug manufacturers were just as much a part of the "first industrial war" as arms manufacturers. The sudden demand for massive amounts of painkillers and antiseptics for the Union armies, like that of their rival Squibb, presented a huge opportunity to increase production. Pfizer's sales had doubled since the beginning of the war in 1868, and their product ranges had greatly expanded.
Following the battle, Pfizer began to concentrate on industrial chemicals rather than drugs, manufacturing citric acid for the burgeoning soft drink industry, which fueled the expansion of brands including Coca-Cola and Dr. Pepper in the 1880s. For several years, this was their mainstay, setting the groundwork for their continued expansion. When the supply of tartaric acid was interrupted by the civil war and higher tariffs, Pfizer expanded its production to become the leading chemical supplier in the United States.
Pfizer - Covid-19 Vaccine
In April 2020, Pfizer collaborated with BioNTech to start developing a COVID-19 vaccine in response to the coronavirus pandemic. The BNT162b2 vaccine candidate is an mRNA vaccine. The drug-maker announced in November 2020 that results from Phase 3 clinical trials showed the vaccine was safe and reliable, with a 95 percent efficacy rate. It needs two doses, separated by 21 days.
Pfizer and BioNTech submitted an emergency use permission request to the FDA a few days after the positive clinical trial results were announced. The FDA approved the Pfizer-BioNTech COVID-19 vaccine for distribution in the United States on December 11, 2020.
Pfizer - Key Pharmaceutical Products
Many well-known products are manufactured and marketed by Pfizer. Some of the company's most well-known brands are mentioned below -
Nexium24HR - Over-the-counter heartburn drug
Prevnar 13 - Vaccine to prevent pneumonia
Advil - Non-steroidal anti-inflammatory drug (pain reliever)
Viagra - Erectile dysfunction drug
Xanax - Psychoactive medicine
Zoloft - SSRI antidepressant
Lipitor - Cholesterol medicine
Chantix - Smoking cessation drug
Bextra - Cox-2 inhibitor (pain reliever)
Depo-Testosterone - Testosterone replacement therapy drug
EpiPen - Auto-injector emergency allergy medicine
Celebrex - Non-steroidal anti-inflammatory drug (pain reliever)
Zithromax - Macrolide antibiotic (bacterial infections)
Eliquis - Anticoagulant (blood thinner)
Protonix - Proton pump inhibitor acid-reducer
Prempro - Hormone replacement drug therapy
Effexor - SNRI antidepressant
Pfizer - Name, Logo, and Tagline
Pfizer's company name is after the founder Charles Pfizer and its logo is shaped like a tablet of medicine. The oval-shaped logo is a powerful brand identity that conveys a message of optimism, well-being, and progress. As opposed to the initial limit "P," the letter "f" is intentionally made larger.
The tagline outlines Pfizer's purpose, “Breakthroughs that change patients' lives."
Pfizer - Business Model
Pfizer Innovative Health and Pfizer Essential Health are the company's two commercial divisions.
Pfizer Innovative Health is dedicated to the development and commercialization of pharmaceuticals and vaccines. Internal medicine, vaccination, oncology, inflammation and immunology, rare diseases, and consumer healthcare are among IH's therapeutic fields.
Legacy labels, branded generics, generic sterile injectable drugs, biosimilars, and infusion systems are all included in the Pfizer Essential Health category. EH also has a research and development department, as well as a contract manufacturing division. Prevnar 13, Xeljanz, Eliquis, Lipitor, Celebrex, Pristiq, and Viagra are some of the company's brands.
Pfizer - Key Financial Metrics
The table below highlights some of the key financial metrics of Pfizer (extracted from the company's annual reports)
Pfizer - Revenue and Growth
Pfizer's COVID-19 vaccine sales exceeded analyst expectations by about 60%. As of mid-April 2021, the company produced 1.6 billion doses of the vaccine under signed contracts. Pfizer's operating sales increased by 8% even without revenue from the COVID-19 vaccine.
Year Amount Percentage Change From Last Year
2021 $14.582B +21.23%
2020 $41.908B +1.79%
2019 $41.172B +0.85%
2018 $40.825B -22.31%
Pfizer - Investments
Date Organization Name Round Amount
Mar 30, 2021 Pyxis Oncology Series B $152M
Feb 17, 2021 Imcyse Series B €21.3M
Oct 29, 2020 LianBio Venture Round $310M
Jul 29, 2020 Cerevel Therapeutics Post-IPO Equity $320M
May 19, 2020 Amplyx Pharmaceuticals Series C $53M
Apr 22, 2020 FoRx Therapeutics Seed Round €10M
Mar 20, 2019 Vivet Therapeutics Corporate Round €45M
Feb 19, 2019 Gliknik Corporate Round $15M
Nov 13, 2018 NextCure Series B $93M
Apr 19, 2018 Allogene Therapeutics Series A $411.8M
Pfizer - Acquisitions
Amplyx Pharmaceuticals Amplyx focuses on developing innovative therapies for debilitating and life-threatening diseases in patients with compromised immune systems Apr 28, 2021 -
Array BioPharma Array BioPharma is a biopharmaceutical company focused on the development and commercialization of targeted small molecule drugs. Jun 17, 2019 $11.4B
Therachon Therachon is a global biotechnology company focused on developing medicines for rare, genetic diseases May 8, 2019 $340M
Medivation Medivation, Inc. is a biopharmaceutical company focused on the rapid development of small molecule drugs to treat serious diseases Aug 22, 2016 $14B
Bamboo Therapeutics Bamboo Therapeutics Announces the Acquisition of the Vector Core Manufacturing Facility from UNC-Chapel Hill Aug 1, 2016 $654M
BIND Therapeutics BIND Therapeutics is a clinical-stage nanomedicine platform company developing Accurins, a class of highly selective, targeted therapeutics. Jul 27, 2016 $40M
Anacor Pharmaceutical Anacor Pharmaceutical is a biopharmaceutical company developing small-molecule therapeutics from its boron chemistry platform. May 16, 2016 $5.2B
Hospira Hospira is a provider of injectable drugs and infusion technologies. Feb 5, 2015 $15B
Pfizer - Competitors
The top competitors of Pfizer are Merck, Novartis, BMS, Johnson & Johnson, GSK, Abbott, Cipla, Roche, Eli Lilly, and Bayer.
Pfizer - Challenges Faced
With exclusivity for Pfizer's second-best-selling medication, Lyrica, expected to expire in June, the pharma expects a $2.6 billion sales hit from competitive pressures, almost $1 billion more than in 2018.
As of November 2020, Pfizer's Covid-19 vaccine, made in partnership with the German firm BioNTech, was stored at subzero temperatures, and there were lots of distribution challenges in rolling it out in the weeks ahead.
Pfizer is “running at critical supply limitations,” Dr. Bourla, the CEO said, adding that he hopes the government deploys the Defense Production Act to solve the problem.
Meanwhile, the FDA contacted Pfizer about a different problem with its vaccine. According to some press accounts, several pharmacists giving the shots found that each vial contained more than the planned five doses. They wondered if they could eke out another dose, or even two, from the leftovers.
Pfizer - Future Plans
Pfizer has revealed plans to increase sales in Latin America, Eastern Europe, and Asia, which are all developing markets. The organization will use its global reach and product portfolio to provide health solutions to the rising and underserved population of middle-income patients in these areas.
The company identified four factors that will aid its expansion in the developing Asian pharmaceutical market, which is worth $47 billion. Expanding its current presence in high-growth markets, establishing leadership in oncology, tailoring portfolio offerings to local consumer needs, and leveraging global manufacturing and R&D in Asia are among these factors.
Pfizer expects to spend $5 billion in capital projects in the United States over the next five years, including expanding its manufacturing footprint in the country. In 2019, it announced an additional half-billion-dollar investment in Sanford, North Carolina, for the construction of a cutting-edge gene therapy manufacturing facility.
Pfizer - FAQs
What does Pfizer do?
Pfizer is a research-based multinational biopharmaceutical corporation that develops, manufactures, and distributes healthcare products. Medicines and vaccines are part of its global portfolio.
Who founded Pfizer?
Charles Pfizer and Charles Erhart, cousins who had immigrated to the United States from Ludwigsburg, Germany, founded Pfizer in 1849.
Which companies do Pfizer compete with?
The top competitors of Pfizer are Merck, Novartis, BMS, Johnson & Johnson, GSK, Abbott, Cipla, Roche, Eli Lilly, Bayer.
Does Pfizer produce Covid-19 vaccine?
Yes, Pfizer produces Covid-19 vaccine.
Does Pfizer export Covid-19 vaccine?
Yes, Pfizer exports Covid-19 vaccine.
