History of Pfizer in Timeline
Pfizer Inc., a global pharmaceutical and biotechnology company, was founded in 1849 in New York City by German entrepreneurs Charles Pfizer and Charles F. Erhart. Headquartered in Manhattan's Spiral building, Pfizer has a long history of developing and producing medicines and vaccines.
1906: Death of Charles Pfizer
In 1906, Charles Pfizer, one of the founders of Pfizer, passed away.
1906: Pfizer's Sales Exceed $3 Million
Pfizer experienced significant growth, with sales surpassing $3 million by 1906. The company also relocated its administrative headquarters to Manhattan in 1881, reflecting its expansion.
1919: Commercial Production of Citric Acid
By 1919, Pfizer successfully commercialized the production of citric acid from a fungus source, marking a significant achievement in fermentation technology. This expertise proved valuable during World War II when Pfizer contributed to the mass production of penicillin.
June 2, 1942: Pfizer's Incorporation
On June 2, 1942, Pfizer officially incorporated under the Delaware General Corporation Law, marking a significant milestone in its legal structure and corporate identity.
1950: Discovery of Oxytetracycline
Pfizer's discovery of oxytetracycline in 1950 marked a turning point, shifting the company's focus from fine chemicals to research-based pharmaceuticals. This discovery led to the establishment of a dedicated drug discovery program.
1959: Establishment of Animal Health Division
Expanding its operations, Pfizer established an animal health division in 1959, complete with a research facility and a 700-acre farm in Terre Haute, Indiana.
1960: Relocation of Research Laboratory
Pfizer moved its medical research laboratory operations from New York City to a new facility in Groton, Connecticut in 1960, expanding its research capabilities.
1965: John Powers, Jr. Becomes CEO
John Powers, Jr. took on the role of chief executive officer of Pfizer in 1965, succeeding John McKeen.
1968: Acquisition of The Quigley Company
In 1968, Pfizer acquired The Quigley Company, which had sold asbestos-containing products until the early 1970s. This acquisition later led to legal challenges and settlements related to asbestos exposure.
1972: Edmund T. Pratt Jr. Takes Helm as CEO
Edmund T. Pratt Jr. assumed the position of chief executive officer at Pfizer in 1972, succeeding John Powers, Jr.
1979: Purchase of Shiley and Valve Ordeal
In 1979, Pfizer purchased Shiley, the company behind the Convexo-Concave heart valve which later led to significant legal issues due to defects causing approximately 500 deaths.
1980: Launch of Feldene
Pfizer reached a financial milestone in 1980 when Feldene (piroxicam), a prescription anti-inflammatory drug, became the company's first product to generate $1 billion in revenue.
1981: Approval of Diflucan for Fungal Infections
Pfizer's Diflucan (fluconazole) received approval in 1981, offering the first oral treatment option for severe fungal infections.
1986: Acquisition of Zithromax Rights
Pfizer acquired the global rights to Zithromax (azithromycin), a macrolide antibiotic, from Pliva in 1986. This acquisition expanded Pfizer's portfolio of antibiotic treatments.
1989: Creation of Viagra
Pfizer scientists Peter Dunn and Albert Wood created Viagra (sildenafil) in 1989 as a potential treatment for high blood pressure and angina.
1991: William C. Steere, Jr. Becomes CEO
William C. Steere, Jr. took over as chief executive officer of Pfizer from Edmund T. Pratt Jr. in 1991.
1991: Marketing of Zoloft Begins
Pfizer began marketing Zoloft (sertraline), an SSRI antidepressant, in 1991, making it available for the treatment of depression and anxiety disorders.
1991: Viagra Patented in the UK
Viagra was patented in the United Kingdom in 1991 as a heart medication.
1993: FDA Approves Gabapentin for Seizure Treatment
The FDA granted approval for the use of gabapentin, a medication initially intended for treating seizures, in 1993.
1994: Settlement of Heart Valve Claims
In 1994, Pfizer agreed to pay $10.75 million to settle claims by the U.S. Department of Justice, which alleged that Pfizer lied to gain approval for defective heart valves from Shiley.
1996: Clinical Trial in Nigeria
In 1996, Pfizer conducted a clinical trial in Nigeria during an outbreak of meningitis, using an experimental antibiotic, trovafloxacin, on children without proper consent, leading to lawsuits alleging unethical practices.
1996: FDA Approval for Aricept and Norvasc
Pfizer, in partnership with Eisai, received FDA approval for Aricept (donepezil) for the treatment of Alzheimer's disease. Additionally, Pfizer gained approval for Norvasc (amlodipine), an antihypertensive drug.
1996: Viagra Patented in the US
Viagra was patented in the United States in 1996, paving the way for its eventual approval and marketing as a treatment for erectile dysfunction.
1997: Co-Marketing Agreement for Lipitor
Pfizer entered into a co-marketing agreement with Warner–Lambert for Lipitor (atorvastatin), a statin used to lower cholesterol levels.
March 1998: FDA Approval for Viagra
Viagra (sildenafil), originally developed for high blood pressure and angina, received FDA approval in March 1998 for the treatment of erectile dysfunction.
December 1998: Bob Dole as Viagra Spokesperson
In December 1998, Pfizer made a strategic marketing move by hiring Bob Dole, a well-known public figure, as the spokesperson for Viagra.
February 2000: Introduction of Prevnar 7
The original 7-valent pneumococcal conjugate vaccine, developed by Wyeth, was introduced in February 2000.
June 2000: Acquisition of Warner-Lambert
Pfizer's acquisition of Warner-Lambert for $116 billion in June 2000 resulted in the formation of the world's second-largest pharmaceutical company at that time.
2000: Warner–Lambert Merges with Pfizer
In 2000, Warner–Lambert, known for its role in developing and marketing gabapentin, merged with Pfizer.
2000: Initial Report on Nigerian Trial Actions
In 2000, reports emerged regarding Pfizer's controversial clinical trial in Nigeria, highlighting issues with consent and allegations of using a meningitis outbreak to conduct unapproved testing.
2001: Lawsuits Filed Over Nigerian Trial
In 2001, families of children affected by Pfizer's clinical trial in Nigeria, alongside the Kano and Nigerian governments, filed lawsuits against Pfizer. The suits accused Pfizer of conducting unauthorized human testing during a meningitis outbreak in 1996.
2001: Henry McKinnell Assumes CEO Role
Henry McKinnell took over as chief executive officer of Pfizer in 2001, succeeding William C. Steere, Jr.
June 2002: Chemical Explosion at Groton Plant
In June 2002, a chemical explosion occurred at Pfizer's Groton plant, resulting in injuries to 7 people and the evacuation of over 100 homes in the vicinity.
2002: Bill & Melinda Gates Foundation Invests in Pfizer
The Bill & Melinda Gates Foundation made a significant investment in Pfizer by purchasing stock in the company in 2002.
2003: Merger with Pharmacia and Acquisitions
Pfizer's 2003 merger with Pharmacia brought in valuable assets, including Searle and SUGEN. Searle's notable contributions include the development of Flagyl, an antibiotic, and Celebrex, an anti-inflammatory drug. SUGEN's focus on protein kinase inhibitors led to the development of cancer medications like Sutent and Toceranib.
2004: Lyrica Approval and Patent
In 2004, Pfizer received approval for Lyrica (pregabalin), a medication used to treat epilepsy, neuropathic pain, and other conditions.
2004: Warner–Lambert Settles Off-Label Promotion Case for $430 Million
Warner–Lambert agreed to a substantial settlement of $430 million in 2004 to resolve charges related to the illegal promotion of gabapentin for off-label uses. This settlement highlighted the company's efforts to expand the drug's use beyond its approved indications.
2005: Zoloft's Sales Exceed $3 Billion
Before becoming a generic drug, Zoloft achieved significant sales, surpassing $3 billion in 2005. It had been used to treat over 100 million people.
2005: Whistleblower Suit Against Wyeth
In 2005, a whistleblower suit was filed against Wyeth, later acquired by Pfizer, alleging illegal marketing practices for the drug sirolimus (Rapamune), including targeting specific doctors and facilities to promote off-label uses.
2005: Peter Rost Files Whistleblower Lawsuit Against Pfizer
Peter Rost, a former vice president at Pharmacia (later acquired by Pfizer), initiated a whistleblower lawsuit against Pfizer in 2005. Rost alleged that the company engaged in unethical marketing practices, including kickbacks and off-label promotion of Genotropin, a human growth hormone drug.
2005: Valdecoxib (Bextra) Withdrawn from Market
Valdecoxib, an arthritis drug marketed by Pfizer, was pulled from the market in 2005 due to safety concerns.
January 2006: FDA Approval of Sutent
Sutent, a cancer medication originally a SUGEN program, received FDA approval for human use in January 2006.
July 2006: Jeff Kindler Becomes CEO
Jeff Kindler was appointed as the new CEO of Pfizer in July 2006, succeeding Henry McKinnell.
October 2006: Acquisition of PowerMed
Pfizer announced its plan to acquire PowerMed in October 2006.
December 3, 2006: Torcetrapib Development Halted
On December 3, 2006, Pfizer stopped developing torcetrapib due to unexpected deaths in a clinical trial. The drug, aimed at increasing HDL cholesterol, was linked to a higher mortality rate when combined with Lipitor.
2006: Patent Expiration of Zoloft
The patent protection for Zoloft ended in the summer of 2006, allowing for the production and sale of generic versions of the drug.
2007: Pfizer's Defense of Nigerian Trial
In 2007, Pfizer published a Statement of Defense claiming that their drug Trovan was safely administered in Nigeria and that mortality rates in their trial were lower than historical meningitis epidemics in Africa.
2007: Combating Counterfeit Drugs
Pfizer initiated efforts to combat counterfeit drugs between 2007 and 2010.
July 2008: Job Cuts in Portage, Michigan
Pfizer cut 275 jobs at its manufacturing plant in Portage, Michigan in July 2008. This facility was formerly the headquarters of Upjohn Company, acquired by Pfizer as part of the Pharmacia merger.
September 2009: Pfizer Pleads Guilty to Illegal Marketing of Valdecoxib
In September 2009, Pfizer faced legal repercussions for its marketing practices related to the arthritis drug valdecoxib (Bextra). The company pleaded guilty to illegally promoting the drug for unapproved uses and dosages. This resulted in a $2.3 billion settlement, marking one of the largest health care fraud settlements at that time.
October 15, 2009: Acquisition of Wyeth
Pfizer's acquisition of Wyeth for $68 billion on October 15, 2009, solidified its position as the world's largest pharmaceutical company. This acquisition brought the pneumococcal conjugate vaccine, Prevnar 13, into Pfizer's portfolio.
2009: Acquisition of Wyeth by Pfizer
In 2009, Pfizer acquired Wyeth, a company involved in a whistleblower suit for illegal marketing practices related to the drug sirolimus (Rapamune).
2009: Closure of Pfizer's Brooklyn Plant
Pfizer's historical plant in Brooklyn, New York, which had been expanding since the late 19th century, closed its doors in 2009.
June 2010: Lawsuit by Blue Cross Blue Shield
In June 2010, Blue Cross Blue Shield filed a lawsuit against Pfizer, alleging illegal marketing practices for the drugs Bextra, Geodon, and Lyrica. The lawsuit claimed that Pfizer used kickbacks and misleading materials to promote off-label uses of these drugs.
June 2010: Supreme Court Allows Nigerian Lawsuits
In June 2010, the U.S. Supreme Court rejected Pfizer's appeal, allowing lawsuits by Nigerian families affected by a clinical trial in 1996 to proceed.
December 2010: Diplomatic Cables Leak on Nigerian Lawsuit
In December 2010, leaked U.S. diplomatic cables suggested that Pfizer hired investigators to find evidence of corruption against the Nigerian attorney general to influence ongoing legal actions concerning a controversial drug trial.
2010: Ian Read Becomes CEO
Ian Read assumed the role of Pfizer's CEO in 2010.
2010: Pfizer's Support of "Cancer Issues 2010" Program
In 2010, Pfizer provided significant funding to the National Press Foundation's "Cancer Issues 2010" program, which aimed to educate journalists about the latest cancer research, including the role of pharmaceuticals and vaccines.
2010: Introduction of Prevnar 13
Pfizer introduced an improved version of the pneumococcal vaccine, Prevnar 13, in 2010.
2010: Combating Counterfeit Drugs
Pfizer's efforts against counterfeit drugs, spanning from 2007 to 2010, yielded significant results, including legal action and the recovery of millions of dollars.
February 2011: Closure of UK R&D Facility
Pfizer announced the closure of its research and development facility in Sandwich, Kent, in February 2011, impacting 2,400 jobs.
March 2011: Acquisition of King Pharmaceuticals
Pfizer's acquisition of King Pharmaceuticals in March 2011 for $3.6 billion expanded its portfolio with emergency injectables, including the EpiPen.
2011: Settlement of Nigerian Trial Lawsuits
In 2011, Pfizer settled lawsuits related to a 1996 clinical trial in Nigeria, agreeing to pay $35 million to compensate affected families and $30 million for healthcare initiatives in Kano, among other costs.
2011: Lipitor Becomes Best-Selling Drug
Upon its patent expiration in 2011, Lipitor became the highest-selling drug in history, generating approximately $125 billion in sales over its 14.5-year lifespan.
May 2012: Settlement with BYU Over Celebrex
In May 2012, Pfizer settled a six-year legal battle with Brigham Young University (BYU), agreeing to pay $450 million. The dispute involved claims that Pfizer did not properly credit or compensate a BYU professor for his work related to the development of Celebrex.
September 4, 2012: FDA Approval of Bosulif
The FDA approved Bosulif (bosutinib) on September 4, 2012, for the treatment of chronic myelogenous leukemia (CML).
November 2012: Pfizer's Lobbying Efforts in British Columbia
Between April and November 2012, Pfizer engaged in lobbying activities targeting officials within the British Columbia government, including Premier Christy Clark, to discuss health policies and pharmaceutical information.
November 2012: FDA Approval of Xeljanz
Pfizer obtained FDA approval for Xeljanz (tofacitinib) in November 2012, a drug for rheumatoid arthritis and ulcerative colitis.
2012: Impact of Prevnar on Invasive Infections
By 2012, the rates of invasive pneumococcal infections in children under 5 had significantly decreased due to the Prevnar vaccine program.
February 1, 2013: Zoetis IPO
Pfizer's Agriculture Division, later known as Zoetis, went public on February 1, 2013, raising $2.2 billion in an initial public offering.
June 2013: Settlement with Asbestos Victims
In June 2013, Pfizer negotiated a settlement with asbestos victims related to The Quigley Company, acquired by Pfizer in 1968. Pfizer agreed to pay $964 million, allocating funds to existing and future plaintiffs.
2013: Guilty Plea in Rapamune Case
In 2013, Pfizer pleaded guilty to criminal mis-branding violations under the Federal Food, Drug, and Cosmetic Act related to the drug sirolimus (Rapamune), after acquiring Wyeth in 2009.
August 2014: Settlement of Rapamune Marketing Case
In August 2014, Pfizer settled allegations related to the illegal marketing of the drug sirolimus (Rapamune) for off-label uses. The company paid $491 million in civil and criminal penalties, following a whistleblower lawsuit filed against Wyeth in 2005, which Pfizer had acquired in 2009.
September 2014: Acquisition of Innopharma
Pfizer's acquisition of Innopharma for $225 million in September 2014 expanded its presence in the generic and injectable drug market.
2014: Settlement of BCBS Lawsuit
In 2014, Pfizer settled a lawsuit filed by Blue Cross Blue Shield regarding the illegal marketing of Bextra, Geodon, and Lyrica. Pfizer agreed to pay $325 million, with federal prosecutors charging a subsidiary to avoid larger disruptions.
2014: Lyrica Patent Upheld
Pfizer's patent for Lyrica was challenged but ultimately upheld in 2014, extending its expiration date to 2018.
January 5, 2015: Pfizer acquires controlling interest in Redvax
On January 5, 2015, Pfizer announced its acquisition of a controlling interest in Redvax. This strategic move was aimed at expanding Pfizer's vaccine portfolio, specifically targeting the human cytomegalovirus.
November 23, 2015: Pfizer and Allergan announce merger
On November 23, 2015, Pfizer and Allergan announced a planned $160 billion merger, marking it as the largest pharmaceutical deal ever and the third largest corporate merger in history. The deal was structured as a reverse merger to benefit from Ireland's lower tax rates.
April 6, 2016: Pfizer and Allergan terminate merger agreement
On April 6, 2016, Pfizer and Allergan terminated their merger agreement following the introduction of new laws by the Obama administration and the U.S. Department of the Treasury. These regulations aimed to limit corporate inversions, affecting the merger's viability.
June 2016: Pfizer acquires Anacor Pharmaceuticals
In June 2016, Pfizer acquired Anacor Pharmaceuticals for $5.2 billion. This acquisition was part of Pfizer's strategy to expand its portfolio in the areas of inflammation and immunology drugs.
September 2016: Pfizer acquires Medivation
In September 2016, Pfizer acquired Medivation, a cancer drug-maker, for $14 billion. This acquisition aimed to enhance Pfizer's oncology portfolio significantly.
2017: Patent for Prevnar 13 in India
Pfizer was granted a patent for Prevnar 13 in India in 2017.
January 2018: Pfizer ends Alzheimer's and Parkinsonism research
In January 2018, Pfizer announced the discontinuation of its research into treatments for Alzheimer's disease and Parkinsonism, resulting in job losses for about 300 researchers. This decision marked a significant shift in Pfizer's research priorities.
October 2018: Albert Bourla becomes Pfizer's CEO
Effective January 1, 2019, Albert Bourla was promoted to chief executive officer of Pfizer, succeeding Ian Read. This leadership change was announced in October 2018 and marked a new era for the company.
2018: Lyrica Patent Expiration
The patent for Lyrica expired in 2018, allowing generic manufacturers to enter the market.
2018: Xeljanz Sales Reach $1.77 Billion
Xeljanz generated $1.77 billion in sales in 2018.
January 2019: Xeljanz Tops Direct-to-Consumer Advertising
Xeljanz became the leading drug in the United States for direct-to-consumer advertising in January 2019.
April 2019: Scott Gottlieb Resigns as FDA Commissioner
In April 2019, Scott Gottlieb stepped down from his position as the commissioner of the Food and Drug Administration (FDA).
July 2019: Pfizer acquires Therachon and Array Biopharma
In July 2019, Pfizer made significant acquisitions by purchasing Therachon for up to $810 million and Array Biopharma for $10.6 billion. These acquisitions were aimed at expanding Pfizer's rare disease portfolio and boosting its oncology pipeline.
July 2019: Gottlieb Joins Pfizer's Board of Directors
Three months after resigning from the FDA, in July 2019, Scott Gottlieb joined the board of directors at Pfizer.
August 2019: Pfizer and GlaxoSmithKline merge consumer health businesses
In August 2019, Pfizer merged its consumer health business with GlaxoSmithKline, creating a joint venture with plans to make it a public company. This strategic alliance was aimed at strengthening their positions in the consumer health market.
January 2020: Pfizer Sponsors Presentation on Vaccine Hesitancy
In January 2020, Pfizer sponsored a presentation by Julie Bettinger through British Columbia's Provincial Health Services Authority (PHSA) titled "Vaccine hesitancy: It doesn't matter if the vaccine works if nobody gets it."
March 2020: Pfizer joins COVID-19 Therapeutics Accelerator
In March 2020, Pfizer joined the COVID-19 Therapeutics Accelerator, a $125 million initiative launched by the Bill & Melinda Gates Foundation, Mastercard, and Wellcome Trust. This collaboration aimed to expedite the development of treatments against COVID-19.
May 2020: Pfizer begins COVID-19 vaccine trials
In May 2020, Pfizer started testing four different COVID-19 vaccine variations using lipid nanoparticle technology. This marked an important step in the global effort to develop an effective vaccine against COVID-19.
July 2020: Pfizer and BioNTech's vaccine candidates receive FDA fast track
In July 2020, two of Pfizer and BioNTech's mRNA COVID-19 vaccine candidates were granted fast track designation by the FDA. This accelerated their development and testing processes.
September 2020: Pfizer and BioNTech reach agreement with European Commission
In September 2020, Pfizer and BioNTech completed talks with the European Commission to supply 200 million doses of their COVID-19 vaccine, with an option for an additional 100 million doses.
September 2020: Pfizer Invests in CStone Pharmaceuticals
In September 2020, Pfizer made a strategic investment by acquiring a 9.9% stake in CStone Pharmaceuticals for $200 million (HK$1.55 billion). This investment aimed to support the commercialization of CStone's anti-PD-L1 monoclonal antibody, CS1001.
October 2020: Pfizer Acquires Arixa Pharmaceuticals
Pfizer acquired Arixa Pharmaceuticals in October 2020.
November 9, 2020: Pfizer announces COVID-19 vaccine efficacy
On November 9, 2020, Pfizer announced that BioNTech's COVID-19 vaccine was found to be 90% effective in preventing symptomatic COVID-19. This announcement marked Pfizer as a leader in the development of a working COVID-19 vaccine.
November 2020: Pfizer Merges Upjohn with Mylan to Form Viatris
In November 2020, Pfizer executed a merger of its off-patent branded and generic drug unit, Upjohn, with Mylan. This merger resulted in the formation of Viatris, with Pfizer shareholders holding a 57% ownership stake.
2020: Expiration of Viagra Patents
The patents protecting Viagra expired in 2020, opening the market to generic versions of the drug.
2020: Pfizer's Donation to Ronald McDonald House Charities
During 2020, Pfizer provided a substantial donation, ranging from $100,000 to $250,000, to the Ronald McDonald House Charities. This funding was intended to support the organization's efforts in improving the well-being of children and their families.
January 5, 2021: Pfizer Unveils New Logo
Pfizer marked a brand refresh by introducing a new logo on January 5, 2021.
February 2021: Pfizer accused of negotiation tactics during vaccine acquisition
In February 2021, Pfizer faced accusations from The Bureau of Investigative Journalism of using "high-level bullying" tactics during vaccine acquisition negotiations with Latin American countries. This controversy highlighted challenges in international vaccine distribution during the pandemic.
April 2021: Pfizer Acquires Amplyx Pharmaceuticals
In April 2021, Pfizer expanded its portfolio by acquiring Amplyx Pharmaceuticals, gaining access to the company's promising anti-fungal compound, fosmanogepix (APX001).
April 15, 2021: Pfizer participates in GAVI COVAX AMC 2021
On April 15, 2021, Pfizer's CEO Albert Bourla attended the GAVI COVAX AMC 2021 Investment Opportunity Launch Event. Pfizer joined the ACTIV public-private partnership to accelerate COVID-19 vaccine and treatment development.
November 2021: Pfizer Launches Paxlovid, a COVID-19 Oral Antivirus Treatment
In November 2021, Pfizer introduced Paxlovid, an oral antiviral medication aimed at treating COVID-19.
November 2021: Whistleblower Alleges Data Falsification in Pfizer Vaccine Trial
In November 2021, a whistleblower from Ventavia Research Group, a subcontractor for Pfizer's COVID-19 vaccine trial, alleged data falsification and other misconduct during the trial. The allegations, published in The BMJ, raised concerns about the integrity of the trial data.
January 2022: Pfizer Announces Collaboration for Anti-COVID Pill and Confirms Vaccine Safety for Children
In January 2022, Pfizer's CEO shared that the company was collaborating with a French company to develop an anti-COVID pill treatment. Additionally, he affirmed the safety and efficacy of their COVID-19 vaccine for children.
March 2022: Pfizer Acquires Arena Pharmaceuticals
Pfizer completed the acquisition of Arena Pharmaceuticals in March 2022 for a purchase price of $6.7 billion in cash.
March 2022: Pfizer Awaits Trial Results for Fourth Vaccine Dose
Pfizer anticipated the results of their fourth vaccine dose trial, with expectations for the data to arrive by March 2022.
May 2022: Reports of "Rebound" Symptoms After Paxlovid Treatment Emerge
By May 2022, reports surfaced of individuals experiencing "rebound" COVID-19 symptoms after completing the five-day Paxlovid treatment course. The FDA investigated these reports but opted not to alter its recommendations for the drug's use.
June 2022: Pfizer Acquires ReViral Ltd
In June 2022, Pfizer further expanded its reach by acquiring ReViral Ltd for a sum of up to $525 million. This acquisition provided Pfizer with access to ReViral's experimental drugs being developed to combat respiratory syncytial virus infections.
July 2022: UK Antitrust Fine for Drug Pricing
In July 2022, UK antitrust authorities fined Pfizer £63 million for unfairly increasing the price of the epilepsy drug Epanutin, highlighting Pfizer's exploitation of regulatory loopholes to raise prices significantly over four years.
August 2022: Patent Lawsuit by Moderna
In August 2022, Moderna announced a lawsuit against Pfizer and BioNTech, alleging infringement on its mRNA technology patent, showcasing a significant legal battle within the pharmaceutical industry.
October 2022: Pfizer's Admission on Vaccine Transmission Study Sparks Controversy
During a European Parliament session in October 2022, a Pfizer executive revealed that the company had not assessed their COVID-19 vaccine's ability to curb virus transmission before its public release. This revelation sparked significant controversy and debate.
October 2022: Pfizer Acquires Biohaven Pharma and Global Blood Therapeutics
Pfizer made two significant acquisitions in October 2022. First, it acquired Biohaven Pharma for $11.6 billion, adding the company's calcitonin gene-related peptide programs to its portfolio. Second, it acquired Global Blood Therapeutics for $5.4 billion, bolstering its presence in the rare disease market.
2022: Pfizer Sponsors 2022 Oscars
Pfizer, along with BioNTech, was a major sponsor for the 2022 Oscars ceremony.
April 2023: Pfizer Relocates World Headquarters to The Spiral at Hudson Yards
In April 2023, Pfizer made a significant move by relocating its global headquarters from its previous location on 42nd Street in Midtown Manhattan to a new space within The Spiral at Hudson Yards.
December 2023: Pfizer Acquires Seagen for $43 Billion
Pfizer completed a major acquisition in December 2023 by acquiring Seagen, a leading company in the development of antibody-drug conjugates for cancer treatment. The acquisition, valued at $43 billion, marked a significant expansion of Pfizer's oncology portfolio.
2023: Pfizer's Revenue Sources and Top Products
In 2023, Pfizer generated significant revenue from its pharmaceutical and biotechnology products. Key products included the Pfizer–BioNTech COVID-19 vaccine, apixaban, a pneumococcal conjugate vaccine, palbociclib, and tafamidis. The United States, Japan, and other countries contributed to the company's revenue distribution.