Pfizer
Headquarters:
235 East 42nd St
New York, NY 10017
Phone: 212-733-2323
Employees: 90,000
CEO: Jeffrey Kindler
Stock Symbol: PFE
Website:
http://www.pfizer.com
Career Site
Pfizer is the world's largest pharmaceutical
company selling both prescription and over-the-counter medicines
for humans and animals. The company's well-known drug store products
include Benadryl, Listerine, Neosporin, Rogaine, Rolaids, Sudafed
and Visine.
Pfizer operates with three major business
segments: health care, animal health, and consumer health care,
with products available in more than 150 countries. Pfizer develops
and markets both over-the-counter brands, such as Benadryl and
Lubriderm, and prescription medicines and products, including
Celebrex, Norvasc, Zoloft, and Viagra. Pfizer Animal Health develops
a wide range of products for pets and livestock.
The company has research and development
facilities in: Groton and New London, CT; Sandwich, England;
Nagoya and Tokyo, Japan; Amboise, France; La Jolla, California;
Cambridge, MA; South San Francisco, CA.
The company announced in 2007 it would
reduce its workforce by 10,000 positions or about 10% of the
workforce. It will close two manufacturing plants in Brooklyn,
NY and Omaha, NE. Also, three research sites in Michigan will
close.
In 2007, Pfizer had revenues of $48.6 billion.
Net income was $8.2 billion. The company lost the U.S. exclusivity
of Norvasc and Zoloft in 2007, which contributed to a decrease
in Norvasc and Zoloft revenues of $3.4 billion.
The company's top medicines include Lipitor,
Celebrex, Lyrica, and Geodon. It launched Sutent, Eraxis, Chantix,
and Exubera in the U.S. in 2006. Nine products exceeded $1 billion
in sales.
Pfizer employs more than 12,000 medical
researchers and spent $7.6 billion on R&D in 2006.
History
The history of Pfizer starts right in New
York. Charles Pfizer and his cousin Charles Erhart were young
entrepreneurs from Germany. Pfizer borrowed $2,500 from his father
and purchased a modest brick building in the Williamsburg section
of Brooklyn. Their goal was to make chemicals not then produced
in the United States.
Their first product, santonin, was used
to treat intestinal worms, a common affliction in mid-19th century
America, but its taste was so bitter, few people would swallow
it. Combining their skills, Pfizer, a chemist, and Erhart, a
confectioner, blended santonin with almond-toffee flavoring and
shaped it into a candy cone. An immediate success, the "new"
santonin was soon in great demand - and Charles Pfizer &
Company was launched.
Within a decade, raw materials from around
the world were pouring into the young company and more than a
dozen chemicals were pouring out. As their business prospered,
the cousins bought 72 acres surrounding their building, and,
in 1857, established an office on Beekman Street, in the heart
of what was then Manhattan's drug and chemical district.
In 1998, Pfizer launched Viagra (sildenafil
citrate), a breakthrough treatment for erectile dysfunction.
In 2000, Pfizer would merge with Warner-Lambert.
Pfizer would gain product lines ranging from Parke-Davis branded
pharmaceuticals to Listerine mouthwash to Schick and Wilkinson
Sword wet-shave products.
Pfizer would merge with Pharmacia in 2003.
Pfizer sold it would sell its consumer
healthcare business in 2006 to Johnson & Johnson for $16.6
billion in cash.
Benefits
Pfizer offers employees a range of benefit
plans and programs. For health care there are many programs,
including indemnity and managed care options, as well as dental
coverage and vision care packages. Also, the company gives 100%
reimbursement for the cost of Pfizer prescription drugs. Newly
hired employees can accrue 3 weeks of paid vacation during their
first year of service, as well as a number of paid holidays and
eligibility for personal days.
Pfizer offers a savings plan that matches
dollar-for-dollar for the first 3 percent of contributions and
50 cents on the dollar for the next 3 percent.
The company offers 100% tuition remibursement
for eligible degrees and courses with no maximum benefit amount.
Children of employees are also eligible for four-year college
scholarships.
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