Pfizer Inc. (PFE) is a New York-based U.S. multinational company engaged in the business of discovering, developing, producing and selling pharmaceuticals. The company manufactures a broad range of medicines and vaccines for such therapeutic areas as immunology and inflammation, cardiovascular and metabolic diseases, oncology, neurologic and psychiatric illnesses, and rare diseases. Pfizer is involved both in carrying out clinical trials and conducting research and development.
Among Pfizer’s best-known products are the blockbuster drug Lipitor, the antibiotic Zithromax, and erectile dysfunction treatment Viagra. Until 2018, Pfizer’s global portfolio also included leading consumer healthcare products such as Advil painkillers, Centrum multivitamins and ChapStick. However, Pfizer is considering selling off its consumer healthcare business.
Ian C. Read has been Chief Executive Officer since 2010 and has also served as Chairman of the Board since 2011. He began his career with Pfizer back in 1978 as an operational auditor, so he knows the business inside out. Among the other key figures at Pfizer is Chief Operating Officer Albert Bourla, who oversees the company's commercial, strategy, manufacturing and global product development functions.Frank D’Amelio is Chief Financial Officer of Pfizer, responsible for finance, business development and business operations.
The company was founded all the way back in 1849 by two cousins, one of whom was called Charles Pfizer. Originally a manufacturer of fine chemicals, the business moved into pharmaceuticals in the second half of the 20thcentury. The first decade of the new millennium saw some major acquisitions including Warner Lambert (2000), Pharmacia (2003) and Wyeth (2009). Pfizer then bought King Pharmaceuticals in 2010, Innopharma in 2014, and Anacor Pharmaceuticals and Medivation in 2016. But a proposed merger with Allergan was called off because of new U.S. rules against corporate inversions.
In its full year 2017 results, Pfizer reported revenues of $52.5 billion – very close to the previous year’s tally. Adjusted diluted earnings per share were $2.65 – up 11% on 2016.Ian Read, Chairman and Chief Executive Officer, said: “Pfizer had a strong year in 2017, delivering solid financial results, advancing several significant pipeline programs and enhancing shareholder value with prudent capital allocation decisions.”
In early 2018 Pfizer was weighing up options for its consumer healthcare business, including a potential sale of the $20 billion unit. But both GlaxoSmithKline and Reckitt Benckiser dropped out of the bidding process in March, and Pfizer said it “continues to evaluate potential strategic alternatives” for the business, including a sale, spin-off, or keeping it.
The Pfizer share pricehas been on a general upward path since the global financial crisis, when it fell as low as $12.30. The shares touched $39 in January 2018, though they fell back to $35.50 at the end of March. To find out how the shares are doing right now, follow Capital.com. Our PFE chartputs all the information at your fingertips.
Pfizer’s headquarters are in New York City, and its research HQ is in Groton, Connecticut. The company has research & development staff across the world to support its product pipeline. As well as numerous locations across the United States, Pfizer also has sites in Europe, India, Japan, Australia and Latin America.
Pfizer is listed on four stock exchanges: the New York Stock Exchange, the London Stock Exchange, Euronext and the SIX Swiss Exchange. The shares have been a constituent of the Dow Jones Industrial Average since 2004. Check out Capital.com for the latest PFE chart. We’ll keep you up to date and in the picture.
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