– Merged with Warner-Lambert in 2000. $90 billion, 3th major M&A in the last 20 years (-2009).
– Merged with Pharmacia in 2003. $59,515 million, 8th major M&A in the 2000s.
– Merged with Wyeth in 2009.
– Pfizer supports the United Nations Global Compact.
– Funder of RAND Compare.
– Member of The Corporate Council on Africa.
– Corporate member of the Council on Foreign Relations.
– Combined $68 billion in cash, shares and loans, including some $22.5 billion lent by five major Wall Street banks.
– Lead financial advisors: Bank of America Merrill Lynch, Goldman Sachs and J.P. Morgan.
– Financial advisors: Barclays and Citigroup.
– Legal advisor: Cadwalader, Wickersham & Taft LLP.
– Exchange and paying agent: Computershare Trust Company.
– Cash: $22.5 billion.
– Debt: $22.5 billion.
– Equity: $23.0 billion.
– Revenues: $71.3 billion.
– Employees: 129,500.
– Combination creates the world’s premier biopharmaceutical company.
– Best portfolio of assets, pipeline and capabilities in the industry.
– Strong revenue diversification across numerous growing therapeutic areas, leading technology and research platforms, and a premier global footprint.
– Enhanced ability to innovate, through patient-centric business units, access to leading scientific capabilities, and greater resources to invest in research and development.
– Combines entrepreneurial, focused businesses with global scale and reach.
– Positioned for long-term EPS growth in changing health care environment.
Global Industry Leadership
– 4th largest biologics company.
– 4th largest vaccines business.
– Enhanced position in key disease areas, such as immunology/inflammation, Alzheimer’s disease and oncology.
– Number one primary care company.
– Number one in cardiovascular.
– Number two in CNS, with a complete portfolio.
– Number two in infectious disease.
– Combined company builds upon its excellence in animal health.
– 1849: Open Charles Pfizer & Company as a fine-chemicals business.
– 1862: As demand for painkillers, preservatives, and disinfectants soars during the Civil War, Pfizer expands production of tartaric acid (used as a laxative and skin coolant) and cream of tartar (effective as both a diuretic and cleansing agent) as well as other vital drugs to help meet the needs of the Union Army. Among these are iodine, morphine, chloroform, camphor, and mercurials, which, in addition to medicinal applications, are used in the emerging field of photography, the new medium photographer Mathew Brady employs to chronicle the Civil War.
– 1868: The expansion propelled by the Civil War continues and Pfizer’s revenues double.
– 1880: Using imported concentrates of lemon and lime, Pfizer begins manufacturing citric acid. Pfizer soon becomes America’s leading producer of citric acid. As new drinks like Coca-Cola, Dr. Pepper, and Pepsi-Cola gain popularity, demand for citric acid soars.
– 1891: On December 27, cofounder Charles Erhart dies and leaves a partnership worth $250,000 to his son William. However, the agreement stipulates that Charles Pfizer can buy William Erhart’s share at half its inventory value, an option Charles Pfizer quickly exercises, consolidating ownership of the company in his hands.
– 1906: Company sales exceed $3 million.
– 1919: World War I caused a shortage of calcium citrate that Pfizer imported from Italy for the manufacture of citric acid, and the company began a search for an alternative supply. Pfizer was able to commercialize production of citric acid from a fungus that ferments sugar. As a result Pfizer developes expertise in fermentation technology, skills applied to the mass production of penicillin during World War II.
– 1936: After building a new plant and initiating a 24-hour-a-day, seven-day-a-week production schedule, Pfizer becomes the world’s leading producer of vitamin C.
– 1938: Pfizer pushes ahead with production of vitamin B-2, or riboflavin, and eventually develops a vitamin mix that includes riboflavin, thiamin, niacin, and iron. From vitamin B-12, the company moves on to vitamin A, and by the late 1940s, Pfizer will become the established leader in the manufacture of vitamins.
– 1941: Pfizer responds to an appeal from the United States Government to expedite the manufacture of penicillin to treat Allied soldiers fighting in World War II.
– 1944: Pfizer becomes the world’s largest producer of penicillin.
– 1950: Penicillin becomes very inexpensive and Pfizer decides to search for new antibiotics with greater profit potential. Terramycin (oxytetracycline), a broad-spectrum antibiotic, becomes the first pharmaceutical sold in the United States under the Pfizer label.
– 1951: In a major international expansion, Pfizer operations are established in Belgium, Brazil, Canada, Cuba, England, Mexico, Panama, and Puerto Rico.
– 1952: Pfizer establishes an Agricultural Division dedicated to offering cutting-edge solutions to animal health problems.
– 1953: Pfizer acquires J.B. Roerig and Company, specialists in nutritional supplements.
– 1955: A fermentation plant opens in England, laying the foundation for Pfizer’s research and development operations in Great Britain. Pfizer partners with Japan’s Taito to manufacture and distribute antibiotics.
– 1958: New Pfizer pharmaceutical plants begin production in Mexico, Italy, and Turkey.
– 1967: Vibramycin (doxycycline hyclate), the company’s first once-a-day broad-spectrum antibiotic is introduced and quickly becomes a top seller.
– 1968: Pfizer acquires Quigley, and the division sold asbestos-containing insulation products until the early 1970s.
– 1971: Pfizer acquires Mack Illertissen, a prosperous manufacturer of pharmaceutical, chemical, and consumer products oriented to the needs of the German marketplace. The Central Research Division is established, combining pharmaceutical, agricultural, and chemical R&D worldwide.
– 1972: Pfizer crosses the billion-dollar sales threshold. Pfizer establishes a microbiology laboratory for soil screening in Nagano, Japan.
– 1976: Pfizer introduces Minipress (prazosin HCI) in the United States, for the control of high blood pressure.
– 1979: Pfizer purchases Shiley.
– 1980: Feldene (piroxicam) becomes one of the largest-selling prescription anti-inflammatory medications in the world and, ultimately, Pfizer’s first product to reach a total of a billion United States dollars in sales.
– 1983: Pfizer acquires full ownership of Taito.
– 1984: Glucotrol (glipizide), for diabetes, is launched.
– 1985: Nagano laboratory is expanded into a major discovery laboratory complex where researchers are part of worldwide teams seeking novel ways to circumvent the inflammation process in diseases like arthritis and asthma, and new non-addictive analgesics to manage pain.
– 1986: Pfizer introduces Unasyn (ampicillin sulbactam), an injectable antibiotic.
– 1988: The Agricultural Division is renamed the Animal Health Division.
– 1989: Pfizer launches Procardia XL (nifedipine) extended-release tablets, an innovative once-a-day medication for angina and hypertension.
– 1990: Diflucan (fluconazole), a powerful antifungal, is launched in the United States and 15 additional countries.
– 1992: Zoloft (sertraline hydrochloride) for treatment of depression, Norvasc (amlodipine besylate) for control of angina and hypertension, and Zithromax (azithromycin) for respiratory and skin infections.
– 1993: The FDA approves gabapentin (Neurontin) for treatment of seizures.
– 1995: The Animal Health Division purchases SmithKline Beecham‘s animal health business, making Pfizer a world leader in the development and production of pharmaceuticals for livestock and companion animals. Pfizer builds a pharmaceutical plant in Dalian, China and expanding throughout growing markets in the Pacific Rim. Cardura (doxazosin mesylate) is introduced in the United States for the treatment of benign prostate hyperplasia.
– 1998: Launch of Viagra (sildenafil citrate), a breakthrough treatment for erectile dysfunction. Invests more than $3.3 billion in research and development. Pfizer and the Edna McConnell Clark Foundation partner to establish the International Trachoma Initiative to help eliminate blinding trachoma.
– 1999: Approval of Aromasin for advanced breast cancer in Europe and U.S.
– 2000: Pfizer and the Ministry of Health of South Africa sign a Memorandum of Understanding to establish the Diflucan Partnership Program to provide Diflucan (fluconazole), an antifungal to treat two fungal opportunistic infections associated with AIDS. Pfizer opens the largest building in the world dedicated to the discovery of new medicines for human and animal health on its Groton, Connecticut research campus.
– 2001: Building of a regional treatment and training center on the campus of Makerere University in Kampala, Uganda as part of the Academic Alliance for AIDS Care and Prevention. Geodon (ziprasidone hydrochloride), a new antipsychotic for the treatment of schizophrenia, is launched.
– 2002: Vfend (voriconazole), an orally and intravenously administered antifungal indicated for treatment of serious fungal infections, is launched. The Pfizer Foundation launches a three-year initiative to provide grants to support training and capacity building for HIV/AIDS in developing countries.
– 2003: Energizer Holdings buys Wilkinson Sword from Pfizer. Relpax (eletriptan HBr), a medication developed specifically for the treatment of migraines, is launched.
– Partnership with Accordia, the Academic Alliance, and Makerere University, established the Infectious Diseases Institute as the preeminent center in sub-Saharan Africa for infectious disease training, treatment, and research within Makerere University.
– Pfizer purchase La Jolla R&D Campus. Pfizer manages the world’s largest pharmaceutical research operations, which include more than 13,000 scientists worldwide working on approximately 400 projects in discovery research and 225 projects in development.
– Pfizer purchases Meridica Limited from PA Consulting Group.
– Pfizer acquires Idun Pharmaceuticals Inc., a biopharmaceutical company focused on the discovery and development of therapies to control apoptosis, a process of cell death that occurs in a broad range of diseases.
– Pfizer acquires Bioren Inc.
– Pfizer acquires Vicuron Pharmaceuticals Inc.
– The AIDS Support Organization, with support from Pfizer, opens a new AIDS counseling and training center in Uganda.
– Global collaborative research and license agreement with Incyte Corporation for the development, manufacture and marketing of novel oral CCR2 antagonists.
– Pfizer acquires Rinat Neuroscience Corp., a privately held biotechnology company that develops therapeutic proteins for the treatment of diseases and disorders of the central nervous system, Alzheimer’s disease, migraine prophylaxis, cachexia, obesity, pain, neuropathy and Parkinson’s disease.
– Non-exclusive collaboration with Monogram Biosciences Inc. to make HIV Co-Receptor Tropism Assay available for patient use on a global basis.
– At Clinton Global Initiative Pfizer announced a 5 year (2007-2012) program to prevent infection and spread of malaria. Partners in this initiative include Family Health International and the Ghana Social Marketing Foundation in Ghana, Population Services International in Kenya and IntraHealth in Senegal. The London School of Hygiene and Tropical Medicine serves as the lead global evaluator, collaborating with local evaluation organizations on the ground.
– Agreement to sell Pfizer Consumer Healthcare business to Johnson & Johnson for $16.6 billion in cash.
– License agreement with TransTech Pharma Inc. for the development and commercialization of small and large molecule compounds target the receptor for advanced glycation endproducts, potential use in the treatment of Alzheimer’s disease.
– Pfizer Foundation provides $7.5 million in grants to 20 U.S. community-based AIDS service organizations.
– Worldwide collaboration with Bristol-Myers Squibb Company to research, develop and commercialize DGAT-1 inhibitors, anticoagulant and metabolic compounds.
– Agreement with Express Scripts Inc.
– New research program with European Foundation for the Study of Diabetes focused on cardiovascular risk in patients with diabetes.
– Agreement with Nektar Therapeutics on Exubera and Next Generation Inhaled Insulin franchises.
– Exclusive worldwide collaboration with Adolor Corporation to develop and commercialize novel compounds, ADL5859 and ADL5747, for the treatment of pain.
– Pfizer acquires CovX, a privately-held biotherapeutics company specializing in preclinical oncology and metabolic research and a developer of a biotherapeutics technology platform.
– Pfizer acquires Coley Pharmaceutical Group Inc.
– Pfizer and Scil Technology GmbH finalize agreement for novel cartilage growth factor.
– Pfizer acquires Serenex Inc. to extend oncology pipeline and access novel technology platform.
– Pfizer Animal Health acquires Catapult Genetics Pty. Ltd., focused on developing and commercializing innovative livestock DNA tests and gene markers to assist global food producers, processors and retailers in improving profitability and quality in the global food chain, and Bovigen LLC, which markets DNA technology, including products in the U.S., Canada, Central America and South America.
– Agreement with Taisho Pharmaceutical Co. Ltd. for worldwide (excluding Japan) collaboration to research, develop and commercialize TS-032, a new schizophrenia drug.
– Pfizer’s wholly-owned subsidiary Explorer Acquisition Corp. purchases Encysive Pharmaceuticals Inc.
– Licensing and development agreement with AVANT Immunotherapeutics, acting through its wholly-owned subsidiary Celldex Therapeutics Inc., for novel therapeutic vaccine candidate for brain cancer.
– Launch of Champix Tablet 0.5mg/1mg (varenicline tartrate), a novel smoking cessation aid for smokers with nicotine dependence in Japan.
– Pfizer Japan receives manufacturing and marketing authorization for SUTENT (sunitinib malate), indicated for gastrointestinal Stromal Tumor.
– Collaboration agreement with University of California, Caltech, the Massachusetts Institute of Technology, University of Massachusetts and Entelos to re-examine the regulatory mechanisms of human energy metabolism, diabetes and obesity pathobiology.
– Pfizer sells the near-174-acre Parke-Davis research complex in Ann Arbor, Michigan to the University of Michigan for $108 million.
– Pfizer Animal Health acquires from Schering-Plough a number of animal health products for sale in the European Economic Area (Swine E. coli Vaccines, Equine Influenza and Tetanus Vaccines, Ruminant Neonatal and Clostridia Vaccines, Rabies Vaccines, Companion Animal Veterinary Specialty Products, Parasiticides & Anti-inflammatories).
– Oncology and diabetes worldwide collaborative research and license agreement with Five Prime Therapeutics Inc.
– $15 million dollar collaboration with the University of Pennsylvania School of Medicine.
– Agreement with EyeCyte Inc., an early stage stem/progenitor cell-based ophthalmology research and development company based in La Jolla, California, secures its Series A funding.
– Global agreement with Medivation Inc. to develop and commercialize Dimebon for treatment of Alzheimer’s disease and Huntington’s disease.
– Collaboration with MannKind Corporation for certain Exubera patients to transition to MannKind‘s inhaled insulin product, Technosphere.
– Novel partnership with Grameen Health, an affiliate of Grameen Bank (Bangladesh), to explore sustainable healthcare delivery models for the developing world.
– Pfizer and UCB Pharma form new company “Cyclofluidic” to accelerate drug discovery process.
– Series of agreements with Aurobindo Pharma Ltd., a pharmaceutical company based in India, to commercialize medicines that are no longer patent protected, and have lost market exclusivity in the United States and Europe. Pfizer has acquired rights to 39 generic solid oral dose products in the United States and 20 in Europe, plus an additional 11 in France. These medicines cover a broad range of therapeutic areas including cardiovascular disease and Central Nervous System disorders, and will be commercialized in the U.S. through Pfizer’s Greenstone subsidiary. Pfizer has also acquired rights to 12 sterile injectable products in the United States and Europe. These medicines are antibiotics including penicillins and cephalosporins.
– Agreement with Bausch & Lomb to co-promote Xalatan, Alrex, Lotemax, Zylet and besifloxacin, products for the treatment of ophthalmic conditions.
– First pharmaceutical company to be accredited by the Association for the Accreditation of Human Research Protection Programs for ensuring the protection of human subjects taking part in early-stage clinical trials.
– Agreement with Medicines for Malaria Venture.
– Collaboration and license agreement with University College London to advance development of stem cell-based therapies.
– License agreement with Wisconsin Alumni Research Foundation for human embryonic stem cells patents for the development of new drug therapies.
– Graceway Pharmaceuticals LLC, a portfolio company of GTCR Golder Rauner LLC, acquires worldwide commercial rights for 3 investigational dermatological molecules from Pfizer and the related transferred or licensed intellectual properties.
– Joint initiative with the Shanghai Institutes for Biological Sciences to support fundamental research in China.
– Partnership with Fudan University to establish a graduate program in Clinical Data Management and Statistical Programming. 3 year Masters Degree program, first of its kind in China, designed to develop qualified professionals to support clinical research which is rapidly increasing in China.
– Collaboration with Private Access, the innovator in privacy-enhanced search technology, to create a new online community aimed at increasing clinical trial awareness and participation.
– Pfizer joins Chevron; Exxon Mobil; Lockheed Martin; Fleishman-Hillard; Novus International; Marathon Oil Company; Northrop Grumman; South African Airways; USAID; AECOM; Colgate Palmolive; Hess Corporation; allAfrica.com; Jeune Afrique; Abbott Fund; The Africa Report; Acrow Bridges; Raytheon; SOC; Freeport-McMoRan Copper & Gold Inc.; Johnson & Johnson; JR Boulle Corporations; Merck & Co. Inc.; Oceanic Bank; PriceWaterhouseCoopers; SEACOM; Tetra Tech; Africa Export-Import Bank; American Cancer Society; Boeing Company; CCA HIV/AIDS Initiative; Emerging Capitals Partners; Development Finance International; Gauteng Province; L-1 Identity Solutions; Millennium Challenge Corporation; Mars Inc.; MITC Investimentos; EMEA Finance; New Africa U.K. Ltd.; Spintellingent; and Buchanan Renewables, as sponsors of the 7th Biennial U.S.-Africa Business Summit.
– Agreement with Eisai to provide Aricept to patients suffering from Alzheimer’s disease continues.
– Agreement with two subsidiaries of Mylan Inc. relating to a generic version of Vfend (voriconazole), an antifungal agent.
– Global research and development network. 5 main research sites that serves as central hubs for research activities in BioTherapeutics, PharmaTherapeutics and Vaccines: Cambridge, Mass.; Groton, Conn.; Pearl River, N.Y.; La Jolla, Calif.; and Sandwich, U.K. Supplemented by specialized research capabilities, such as monoclonal antibody discovery in San Francisco, regenerative medicine work in Cambridge, U.K., and research and development activities in Shanghai, China.
– Agreement with Drugs for Neglected Diseases initiative designed to facilitate advancements in the battle against human African trypanosomiasis, visceral leishmaniasis and Chagas disease, which afflict vulnerable populations in the developing world. Scientists in institutes affiliated with DNDi to test at least 150,000 compounds in the Pfizer library against the parasites Trypanosoma brucei, Leishmania donovani and Trypanosoma cruzi. Undertaken at the Eskitis Institute for Cell and Molecular Therapies, Griffith University in Brisbane, Australia for human African trypanosomiasis and the Institut Pasteur Korea, for visceral leishmaniasis and Chagas disease.
– Agreement with Protalix to develop and commercialize taliglucerase alfa, a plant-cell expressed form of glucocerebrosidase in development for the potential treatment of Gaucher’s disease. Pfizer receives exclusive worldwide licensing rights for the commercialization of taliglucerase alfa, while Protalix retains the exclusive commercialization rights in Israel. Taliglucerase alfa is the first enzyme replacement therapy derived from a proprietary plant cell-based expression platform using genetically engineered carrot cells.
– Collaboration with Crown Bioscience Inc. to research and develop novel therapeutics for Asian cancers. Specific treatments for Asian cancers represent an important unmet medical need as well as a significant market opportunity.
– Agreement with Takeda Pharmaceutical Company Limited to co-promote Takeda‘s Actos (pioglitazone HCl) in China with Tianjin Takeda Pharmaceuticals, joint venture of Takeda Pharmaceutical Company Limited and Tianjin Lisheng Pharmaceutical Co. Ltd. Currently the world’s 5th largest pharmaceutical market, China is expected to be the 3rd largest market by 2011. According to the International Diabetes Federation, the diabetes epidemic has the greatest potential to increase in China, because of its population size, rapid urbanization and economic expansion, estimated to have more than 50 million diabetics by 2025.