Pfizer Inc. is an American pharmaceutical and biotechnology company headquartered on 42nd Street in Manhattan, New York. The company was founded in 1849 in New York by two German businessmen, Charles Pfizer (1824–1906) and his nephew, Charles F. Erhart (1821–1891). Pfizer develops and manufactures drugs and vaccines for immunology, oncology, cardiology, endocrinology, and neurology.
The company has several vaccines or products that each generate more than $1 billion in annual revenue. In 2020, 52% of the company’s revenue came from the United States, 6% from China and Japan, and 36% from other countries. Pfizer was a constituent of the Dow Jones Industrial Average stock index from 2004 to August 2020. The company ranks 64th in the Fortune 500 and 49th in the Forbes Global 2000.
Early development and testing.
In 1941, at the request of the US government, Pfizer – the only company using spray technology to produce penicillin – ramped up production to treat Allied soldiers fighting in World War II. The company achieved significant growth in the following decade by creating an international and agricultural division with Pfizer Pharmaceuticals, as well as a partnership with the Japanese antibiotic manufacturing and distribution company Taito (1955; Taito was fully acquired by Pfizer in 1983). . Pfizer continued to expand in the 1970s, acquiring as a pharmaceutical and chemical producer Mack Illertissen (1971).
In the 21st century, Pfizer continued to acquire pharmaceutical companies, including Warner-Lambert, followed by Pharmacia Corporation (2003) and Wyeth (2009). Pfizer also participated in UN Global Impact (2002), the world’s largest corporate initiative. In 2004, Dow Jones and Co. Pfizer were selected for inclusion in the Dow Jones Industrial Average.
In 2015, Pfizer announced it would merge with Dublin-based Botox maker Allergan in a deal valued at $160 billion and allowing Pfizer to repatriate overseas, reducing its taxes. However, in April 2016, the US government introduced regulations to prevent such tax-adjusted transactions, and the bond was soon changed. Pfizer’s most popular products include the antidepressant Zoloft, the erectile dysfunction drug Viagra, and the antidepressant and anxiolytic Xanax.
Covid – 19
As the number of cases of COVID-19 became evident, Pfizer collaborated with BioNTech to research and develop a vaccine against COVID-19 mRNA. Unlike many of its competitors, Pfizer did not receive initial research funding from the US’s Operation Warp Speed vaccine development program, choosing instead to invest up to $2 billion of its own funds.
Pfizer CEO Albert Bourla said he turned down Operation Warp Speed funding to avoid government involvement, later saying that “when you get money from someone,” always comes with strings attached. They want to see how we can progress and whatever kind of movement you have to make. They want stories. Also, I want to leave Pfizer out of politics, though. “
In May 2020, Pfizer began testing four different types of COVID-19 drugs using lipid nanoparticle technology provided by Canadian biotech company Acuitas Therapeutics. The vaccine was injected into the first human participants in the United States in early May.
In July 2020, Pfizer and BioNTech announced that two of the four partners seeking anti-mRNA drugs had received expedited designation from the FDA. The company started an II-III trial of 30,000 people in the last week of July 2020, and the US government will pay $ 1.95 billion for 100 million vaccines.
The U.S. contract used two-digit prices at $39, and the company said it would not reduce prices for other countries until the outbreak is no longer an epidemic. Pfizer’s CEO said the vaccine maker expects to report profits in September. 2020, Pfizer and BioNTech announced that they had completed negotiations with the European Commission to provide the EU with the first 200 million vaccines, with the possibility of providing an additional 100 million doses later.
On November 9, 2020, Pfizer announced that BioNTech’s COVID-19 vaccine, tested on 43,500 people, was found to be 90% effective in preventing the symptoms of COVID-19. Efficiency improved to 95% a week later. Akiko Iwasaki, an immunologist, interviewed by the New York Times, described the effectiveness rate as “truly
alarming.” The announcement made Pfizer and BioNTech the first companies to develop and test an active vaccine against COVID-19.
Over the next month and a half, regulators in various countries approved Pfizer’s vaccine for emergency use. The United Kingdom approved the first vaccine, on December 2, followed by Bahrain on December 4, Canada on December 9, and Saudi Arabia on December 10. On December 10, 2020, the United States FDA held an advisory committee meeting to discuss the potential of the vaccine.
The following day, the United States officially became the fifth country to approve the use of Pfizer’s vaccine under an emergency use authorization (EUA), with an independent panel voting 17-4 in favor of approval. On December 14, Singapore became one of the first in Asia to approve the vaccine through a medical science authority. On December 21, the European Medicines Agency (EMA) proposed to grant conditional marketing authorization for vaccines in the European Union, under the brand name “Community”.
Manufacturing and distribution
Pfizer-BioNTech COVID-19 vaccine § Develop and deliver a vaccine against COVID-19.
By early May 2021, Pfizer and BioNTech have produced at least 430 million vaccines, which have been distributed in 91 countries and territories. The companies said they plan to produce nearly a billion vaccines. 3 in total in 2021. Pfizer issued 0.9% Sodium Chloride Injection USP Diluent for use in the Pfizer-BioNTech COVID-19 drug under its subsidiary brand, Hospira. Pfizer also purchased large quantities of medical and surgical clothing and protective clothing from Ansell during the process, helping to double the supplier’s manufacturing capacity.
In February 2021, after a year-long investigation based on unnamed officials, the Bureau of Investigation (TBIJ) accused Pfizer of using “high threats” against at least two Latin countries in America in talks to contain COVID-19. Vaccines, including asking countries to pledge national assets as collateral for payment. According to TBIJ, these negotiations led to a delay of several months in Pfizer reaching a vaccine agreement with one country and a complete failure to reach an agreement with two other countries, including Argentina and Brazil.
On November 2, 2021, TBMJ published an article after receiving information from a whistleblower from the research group Vestavia.
Pfizer hired Ventavia as a research partner. The company falsified data, blinded patients, employed poorly trained pharmacists, and was quick to follow up on adverse events reported in Pfizer’s pivotal Phase III trial. Regional manager Brook Jackson sent a complaint to the US Food and Drug Administration (FDA). Vestavia fired him the same day. The European Medicines Agency (EMA) said in response to the European Parliament that “the weaknesses identified do not compromise the quality and integrity of the data from the main Comirnaty case and have no impact on the analysis of benefits/risk or conclusion. on the safety, efficacy, and effectiveness of the vaccine.”
Development of oral vaccines
In November 2021, Pfizer launched a new anti-viral treatment known as Paxlovid. In January 2022, Pfizer CEO Albert Bourla confirmed that the results of the fourth drug trial are pending until March 2022. He said that the company is establishing a partnership to develop an anti-COVID treatment with the French company, Novasep. He also said that the COVID vaccine is “safe and effective” for children.
In May 2022, there were reports of patients experiencing “relapse” symptoms after completing a five-day course of Paxlovid. The FDA responded by announcing that it had conducted another review of the drug’s clinical trial data and decided not to change its recommendations. Both US President Joe Biden and Dr. Anthony Fauci reported that they experienced a rebound in the following months while continuing to recommend the drug to those who could benefit from it. Read more blog