The leader in pharma sales, Pfizer is well known thanks to several household name drugs, including Lipitor, Advil, Celebrex, Zithromax and the ever-abundant "little blue pill," Viagra. As the company looks at the looming Lipitor patent cliff, CEO Ian Read has been searching for new methods to keep revenue high, other than new approved drugs. Recently, the company has been considering spinning off portions of the company to create smaller, more profitable arms, a polar opposite of former CEO Jeffrey Kindler's bulk-up strategy of years past. The company's past purchases and mergers have included King Pharmaceuticals, Warner-Lambert, SUGEN and a $68 billion purchase, Wyeth, in 2009.

Wyeth provided Pfizer with an influx of 17 new drugs and vaccines, including Enbrel, Effexor, Prevnar and Pristiq, and Pfizer declared the merger made them "one of the most diversified companies in the global health care industry." And the company continues to move forward as it focuses on hot areas, including Alzheimer's, oncology and vaccines.

The company's legal woes have caused headaches as well. Pfizer has paid over $340 million in settlements for its menopause treatment, Prempro and has 1,200 cases pending for the anti-smoking drug Chantix. Back in 2009, it paid $1.3 billion for illegal marketing fines for the painkiller Bextra, making it the largest fine in United States history.

Pfizer has stayed in the top two on FiercePharma's annual layoffs list for the past three years, thanks in part to the company's 2009 megamerger with Wyeth, and the pressure could be felt for another five years. The company also placed second in the Top 15 R&D Budgets, with $7.4 billion in 2009. But those numbers will continue to slip as Pfizer looks towards development deals instead of in-house research.

Tag:

Pfizer

Latest Headlines

Latest Headlines

Pfizer yanks Lipitor ads starring Jarvik

All right, already, Pfizer says. The drugmaker is pulling its Lipitor ads that feature artificial heart inventor Robert Jarvik. That's after a flurry of media coverage--in which Jarvik was shown to

Pfizer snags Encysive in $195M buyout

Pfizer has demonstrated once again just how interested it is in biotech with its $195

SPOTLIGHT: Chantix scrips drop 5% on FDA alert

Prescriptions for Pfizer's stop-smoking drug Chantix dropped 5 percent last week after the FDA called it "

Pfizer focuses on expanding inhaled meds R&D

Pfizer is budgeting €130 million for the construction of a new facility in France to specialize in the development of inhaled meds. Plans for the facility in Amboise include a staff of 440,

Drug-suicide link complex, data elusive

Is it possible to draw a straight line between patient suicide and prescription drugs? It's a touchy subject. Within the last few weeks, the FDA alerted the public that

SPOTLIGHT: Congress wants more on Jarvik

A Congressional committee is seeking info from advertising firms about Dr. Robert Jarvik's appearance in TV commercials for Pfizer's Lipitor. The panel has been probing pharma marketing, and it's

Lipitor doc doesn't practice rowing, either

Dr. Robert Jarvik (photo) has already

Icagen gains $10M in equity sale to Pfizer

Icagen has triggered an option to sell $10 million worth of stock to Pfizer. That's on top of the $5 million

FDA: Chantix may pose psych risks

The FDA says it's "increasingly likely" that Pfizer's stop-smoking pill Chantix may cause psychiatric symptoms in some

FDA: Epilepsy drugs boost suicial thoughts

The FDA issued a sobering warning yesterday: the risk of suicide and suicidal behavior doubles for patients taking epilepsy drugs. Millions are--they're prescribed not only for the seizure disorder