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.

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Pfizer opts to keep running Accelrys software in its labs

Accelrys employees can let out a collective "phew." Their company has extended its "long-standing" customer relationship with Pfizer, meaning the San Diego-based scientific software provider will keep getting business from one of the largest drugmakers in the world.

Pfizer combats online fakes with direct-to-patient Viagra sales

Pfizer ($PFE) is testing the online-sales waters with a new program to sell Viagra directly to consumers. It's a natural choice: Makers of erectile dysfunction drugs have been working on packaging and formulation changes to make it easier--and more discreet--for men to use them.

Z-Pak's fatal risks don't apply to the average patient, new study finds

The popular Z-Pak antibiotic, linked to heart-rhythm problems in March, may not be risky for the average patient, a new study suggests.

Pfizer hits bump on Prevnar 13 growth curve

Pfizer catapulted itself into the vaccine big leagues in 2009 by merging with Wyeth, and continued demand for Prevnar 13 has seen it consolidate its position. Analysts predict its sales could dwarf other vaccines--hitting $6.7 billion in 2018--but recent quarters suggest it will be a bumpy ride.

Pfizer cuts forecast as Q1 sales fall $550M short of estimates

Like many of its rivals, Pfizer reported a dip in quarterly sales: 9%, to be exact, to $13.5 billion. But worse for Pfizer, the decline was bigger than analysts had expected.

Rival giants team on diabetes as Merck partners with Pfizer on SGLT2 combo

Jockeying for a leading position in the high-stakes race to develop a new generation of blockbuster diabetes drugs, Merck is hitching a ride with Pfizer's late-stage SGLT2 candidate, ertugliflozin (PF-04971729).

Europeans throw cold water on Pfizer's hot streak with Xeljanz rejection

European authorities have battered expectations for Pfizer's rheumatoid arthritis pill Xeljanz, spurning the drug giant's request for approval over concerns about the risk-benefit profile. The surprise rejection cools the company's run of regulatory success, which included 5 FDA approvals in 2012.

Pfizer appealing CHMP ruling on RA treatment Xeljanz

Pfizer has big expectations for its oral rheumatoid arthritis treatment Xeljanz--about $3 billion worth. But those expectations were struck a serious blow when European Medicines Agency regulators Thursday turned it down for approval.

Pfizer's Prevnar 13, GSK's Synflorix pump up vaccination cost

BIO and the International Federation of Pharmaceutical Manufacturers & Associations warn that more funding is needed to maintain current immunization rates while adding new vaccines to programs.

BIO: R&D execs say tweaks boost drug-development process

While the success rate in developing new disease treatments remains alarmingly low, a cadre of R&D executives from some of the world's biggest drug developers insisted at BIO that they've zeroed in on a number of ways to boost the chance a promising drug will actually reach patients.