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

CytomX bags $20M for its novel antibodies with Pfizer leading the charge

South San Francisco oncology specialist CytomX raised a $20 million C round to advance its in-house pipeline of novel cancer treatments, with partner Pfizer pouring in the lion's share of the new cash.

With Swiss pickup, Pfizer adds CMV candidate to growing vaccines unit

After 2014's growth spurt, Pfizer's vaccines unit is not done expanding. The pharma giant has grabbed privately held Swiss company Redvax for an undisclosed sum, adding a preclinical human cytomegalovirus (CMV) vaccine candidate and a tech platform and IP related to a second, undisclosed vaccine program.

Pfizer's growth spurt continues with pickup of Switzerland's Redvax

2014 was a busy year for Pfizer's vaccines unit, and it looks like the pharma giant's ready to keep the ball rolling as the new year kicks off. Just over a month after closing its buyout of Baxter's vaccines unit, it's acquired Switzerland's Redvax for an undisclosed sum.

Pfizer continues deal spree with Redvax CMV vaccine buyout

Pfizer has added an acquisition pact to its latest string of deals. The pharma giant said today that it is buying out Redvax, a subsidiary of Switzerland's Redbiotec, in order to get its hands on a preclinical cytomegalovirus (CMV) vaccine candidate.

'Futuristic' treatments come to fruition with cell and gene therapies

The world of gene therapy--in which single-dose treatments correct debilitating defects--enjoyed something of a renaissance in 2014. Strong clinical results from leaders in the once-maligned field spurred renewed optimism, helping a new generation of startups secure millions in venture financing to develop their next-generation approaches to the field.

AstraZeneca CEO says Pfizer won't come back. Oh, and that $45B goal? It's a stretch

In one interview published over the weekend, AstraZeneca CEO Pascal Soriot pooh-poohed the idea of Pfizer coming back with another takeover bid. In another, he gave a subtle warning about his company's stated goal of hitting $45 billion in sales within a decade.

Pfizer turns the sex talk toward 50-ish women with menopause awareness push

Anyone who's watched a Viagra commercial knows that Pfizer isn't too embarrassed to talk about sex. Anyone who's run across Pfizer's "Get Old" campaign knows it doesn't shy away from aging, either. Now, the drug giant is going equal opportunity on the sex-and-aging talk, and "Desperate Housewives" actress Brenda Strong has the dialogue.

Pfizer continues spending spree with $295M upfront for PhIII growth hormone

Pfizer's business development team is on a spending spree. Today the pharma giant said it is partnering with Miami-based Opko Health on a Phase III long acting growth hormone, paying $295 million upfront and promising up to $275 million more on regulatory milestones.

Pfizer turns to app to overcome rare disease enrollment bottleneck

Pfizer is experimenting with a mobile app to enroll rare disease patients in a study. The trial is comparing the DNA of people with congenital analgesia to unaffected family members.

Pfizer tosses out HR rules with 'American Idol' recruiting in Sweden

Everyone who's ever applied for a job fears that recruiters will glance at their resumes and toss them out. Apparently, Pfizer's Swedish operation feared the same thing--and it tossed out the whole process.