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 shutters vaccine sales business in China after Prevenar setback

As it beefs up its vaccines business, Pfizer's looking to bolster revenue from the top-selling Prevenar family of shots. But on that front, it's come up against a roadblock in China--and so it's shutting down its vaccines marketing there.

Pfizer pulls vaccines sales business out of China

Pfizer said on Thursday that it would be pulling its vaccines sales business out of China after the import license of Prevenar, its top-selling treatment, was not renewed, Reuters reported.

Pfizer halts Prevenar operations in China as import renewal fails to materialize

Pfizer Inc. has halted vaccine operations in China following failure to get a license renewal for its existing Prevenar shot and as a new wider coverage of the same vaccine for pneumococcal diseases also awaits approval, highlighting issues with the approval process in the Middle Kingdom as well as fierce competition in the vaccines space regionally.

Australia's reimbursement cost battle hits cancer drug access

Australia's reimbursement agency has lagged developed country counterparts in paying for newly approved new cancer therapies, highlighting problems at the tail end of a system that patients and industry complain is broken.

Pfizer's Lyrica patent fight in England puts NHS docs, pharmacists on defensive

Talk about unintended consequences of a patent ruling. Pfizer's unprecedented effort to fight Lyrica copies in England has doctors and pharmacists squabbling, and the National Health Service stepping in to keep the peace.

Psoriasis data wars heat up at AAD with Novartis, Boehringer studies

Newcomers showed off at this year's American Academy of Dermatology meeting, with more than one touting Stelara-beating data--and prepping the market for an all-out psoriasis war.

FDA removes the brakes on Pfizer and Lilly's pain drug

A once-halted pain candidate from partners Pfizer and Eli Lilly now has the green light to resume late-stage testing, as the FDA has lifted a clincal hold tied to some serious safety concerns for the whole class of drugs.

Seventure adds €25M to microbiome investment fund

Seventure Partners has added €25 million ($27 million) to its microbiome investment fund, bringing the total under management to €100 million. The move ups the financial firepower of the fund--which has invested in 5 companies since it started late in 2013--at a time when microbiome R&D is starting to take off.

Endo's shown it's willing to spend. But with Salix gone, what's left worth buying?

As Endo showed last week with its failed $10 billion bid for North Carolina's Salix, it's willing to shell out some serious dough if the right target comes along. The question is, what's left?

Pfizer chief gets a pay boost, but two underlings get bigger ones

Pfizer CEO Ian Read got a nice pay bump for 2015, with a total package of $23.3 million--more than one-quarter bigger than the previous year's total. But a big chunk of that increase came in the value of his pension. Back that out, and Read's compensation only grew by $280,000.