Pfizer (NYSE:PFE) is a US-based multinational biotech company. The company operates as a research-based pharmaceutical company focused on the discovery, production and marketing of medicines and vaccines. It is the 2nd largest drugmaker globally by revenue and is ranked 64th on the Fortune 500 list. The company’s avenues of research include Immunology, Oncology, Cardiology, Endocrinology and Neurology.
Regarding its product line, the company has at least ten blockbuster drugs producing more than $1 billion in avenue revenue each. The company brought in over $81 billion in total revenue in 2021. The US is its main market and represents roughly 50% of all revenue. China and Japan make up roughly 12% of the business, while the rest come from the “rest of the world”. It employs roughly 79,000 people and is headquartered in New York state.
Pfizer Inc. was founded in 1849 by Charles Pfizer Sr. and his cousin Charles Earhart. The two were German immigrants and chemists that set up shops outside New York City to make medicinal compounds. The first major success was an antiparasitic called santonin, and the commercialization of citric acid-making technologies quickly followed that up. Their success with citric acid led to the company’s expansion and other major discoveries.
World War I caused a shortage of materials for making citric acid and forced the company to seek alternatives. The one they latched on to was the fermentation of certain fungi known to produce citric acid naturally. This led to the advancement of fermentation technology that was later used in the commercial production of penicillin and then the advancement of antibiotics in general.
Pfizer Inc was incorporated on June 2nd, 1942 in Delaware, and another period of expansion began. The postwar drop in demand for penicillin led to the discovery of newer, more marketable antibiotics and cemented the company’s role in modern medicine. By the time he 80s rolled around, the company was trading on the New York Stock Exchange and on the path to developing today’s blockbuster lineup.
The company’s top seller in 2021 was Comirnaty, a COVID-19 vaccine. It generated nearly $37 billion in 2021 and was followed by Prevnar, Ibrance and Eliquis with just over $5 billion in sales each. Other blockbuster names on Pfizer’s list include Xeljanz and Enbrel, each bringing in $3.5 billion. Pfizer operates 39 research and production facilities worldwide and sells its products in 125 countries.
As of 2022, the company had a robust pipeline of potential treatments, with more than 220 in some stage of clinical trials. Among its leading candidates is a vaccine for RSV, a life-threatening respiratory disease affecting children. 2021 highlights include 8 FDA approvals, four new regulatory submissions and 13 new trial startups. Pfizer is also a well-known dividend payer and has returned more than $8.7 billion to shareholders since going public.
