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.



Latest Headlines

Latest Headlines

Pfizer turns aside yet another case alleging Zoloft caused birth defects

In what has turned into a legal trifecta for Pfizer, it has won the dismissal of a lawsuit that claimed the use of the antidepressant Zoloft during pregnancy caused birth defects in a child. The decision comes after Pfizer has won two jury verdicts in recent months over the same claims.

Pfizer completes acquisition of two GSK meningitis vaccines

In a move to ease antitrust concerns ahead of its multibillion-dollar asset swap with Novartis, GlaxoSmithKline announced in June that it would sell two of its mature meningitis jabs to Pfizer.

Merck KGaA and Pfizer get their fifth-place immunotherapy on the FDA fast track

Merck KGaA and Pfizer, playing catch-up among drug companies using the immune system to fight cancer, picked up the FDA's fast-track designation for their in-development therapy, designed to expedite its eventual review.

Pfizer adding jobs to Ireland plant that had been slated to close

Pfizer announced plans to sell a plant in India that was slated to be shuttered. But another Pfizer facility in Ireland that was once on the chopping block has not only been taken off the list of facilities no longer needed but is adding several dozen jobs.

Pfizer adding dozens of jobs at Ireland plant that was slated to close last year

Pfizer recently gave up plans to try to turn its cholesterol fighter Lipitor into an OTC drug, but sales of the drug have remained surprisingly strong for a product that went off patent nearly four years ago. That has led Pfizer to add jobs at a factory in Ireland that two years ago teetered on the brink of closure.

EPA presents Pfizer with $194M bill to clean up former American Cyanamid site

The cleanup of the former American Cyanamid drug manufacturing site in Bridgewater, NJ, has been ongoing for decades. But the EPA this week presented Pfizer with a bill for its share of the cost of cleaning up the superfund site.

Dako to develop companion diagnostic for Pfizer and Merck KGaA's joint cancer candidate

Pharma bigwigs Merck KGaA and Pfizer announced they are collaborating with Dako to develop a companion diagnostic to accompany their investigational immune checkpoint inhibiting candidate in the fight against cancer.

Pfizer launches first self-injected contraceptive in the U.K.

Pfizer launched its newly labeled injectable contraceptive Sayana Press in the U.K. The product for women is the first in the nation to be approved for self-injection.

Pfizer CEO sees no real future for Clinton's drug-pricing proposals

Pfizer CEO Ian Read isn't too worried about proposals to crack down on U.S. drug pricing. Presidential candidate Hillary Clinton's slate of new measures--which include negotiating power for Medicare--aren't likely to pass muster in Congress, Read told Evercore ISI analyst Mark Schoenebaum. 

What do multinational drug firms want from Xi-Obama summit?

China Daily  ran a series of interviews with multinational business executives about bilateral commercial expectations ahead as U.S. President Barack Obama hosts China's President Xi Jinping at the White House for an official state visit.