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Pfizer

Pharmaceutical company producing COVID-19 vaccine

Pfizer, established in 1849 in New York City, is a leading multinational pharmaceutical company. It develops medicines and vaccines across various medical fields. Pfizer's top products include the Pfizer–BioNTech COVID-19 vaccine, apixaban, and palbociclib. The company generates significant revenue from the United States, Japan, and other countries. Pfizer is ranked 38th on the Fortune 500 and 39th on the Forbes Global 2000.

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Timeline

Founding of Pfizer Inc.

Pfizer Inc. was founded in 1849 by German immigrants and cousins Charles Pfizer and Charles Erhart under the name Charles Pfizer & Company. The company's original headquarters were in a red-brick building in the Town of Williamsburgh, now the neighborhood of Williamsburg in the borough of Brooklyn.

Pfizer Headquarters Move to Manhattan

Pfizer purchases and renovates a post-Revolutionary-era building at 81 Maiden Lane in Manhattan, relocating its headquarters. The company experiences significant growth during this period.

Pfizer's Leadership in the Chemical Industry

By 1899, Pfizer had become a prominent leader in the American chemical industry, manufacturing a range of products such as citric acid, borax, cream of tartar, and iodine.

Development of Mold Fermentation Method for Citric Acid Production

In 1919, Pfizer chemists James Currie and Jasper Kane developed a method of mold fermentation that enabled mass production of citric acid from sugar.

Pfizer becomes leading producer of vitamin C

Doctor Richard Pasternack develops a fermentation-free method for producing ascorbic acid, vitamin C. Pfizer builds a new plant and starts a 24/7 production schedule, becoming the top producer of vitamin C.

Pfizer Begins Production of Penicillin for World War II

In 1941, Pfizer responded to the US Government's appeal by starting the production of penicillin, a crucial drug during World War II, using innovative fermentation techniques.

Mass Production of Penicillin by Pfizer

By 1944, Pfizer had developed a method to mass-produce penicillin, contributing significantly to the treatment of bacterial infections worldwide.

Introduction of Vibramycin® (doxycycline hyclate)

Pfizer launches Vibramycin®, its first once-a-day broad-spectrum antibiotic, which quickly becomes a top-selling product.

Edmund T. Pratt, Jr. appointed as chairman of President's Advisory Committee for Trade Negotiations

Due to his efforts in advocating for intellectual property protection and innovation, Edmund T. Pratt, Jr. was appointed as the chairman of the President's Advisory Committee for Trade Negotiations during the Carter and Reagan administrations. This role highlighted his contributions to promoting innovation and safeguarding intellectual property.

Creation of Viagra (sildenafil)

In 1989, Pfizer scientists Dunn and Wood created Viagra for treating high blood pressure and angina. Initially intended as a heart medication, it later gained fame for its unexpected side effect of treating erectile dysfunction.

Pfizer named most admired pharmaceutical company

Fortune® magazine names Pfizer the world's most admired pharmaceutical company.

Launch of Viagra®

Pfizer's roster of outstanding drugs grows with the launch of Viagra® (sildenafil citrate), a breakthrough treatment for erectile dysfunction.

Pfizer's New Mission Announcement by Hank McKinnell

In June 2001, Hank McKinnell announces Pfizer's new mission to become the world's most valued company to various stakeholders.

Pfizer Launches Geodon®

Pfizer launches Geodon® (ziprasidone hydrochloride) in July 2001, a new antipsychotic for the treatment of schizophrenia.

Pfizer Inc and Pharmacia Corporation Merger

On April 16, 2003, Pfizer Inc and Pharmacia Corporation combined operations, uniting two of the world´s fastest-growing and most innovative companies.

Illegal marketing of Rapamune

A whistleblower suit filed in 2005 against Wyeth, later acquired by Pfizer, alleged illegal marketing of sirolimus (Rapamune) for off-label uses and targeting specific doctors and medical facilities. Pfizer pleaded guilty to criminal mis-branding violations in 2013 and paid significant penalties.

Pfizer's Exit from Brooklyn

In January 2007, Pfizer announced its decision to no longer carry out operations in Brooklyn, New York. This marked a significant change in the company's history as it shifted its focus to other locations.

Pfizer Settles Bextra and Celebrex Lawsuits

Pfizer agrees to settle lawsuits related to the drugs Bextra and Celebrex. The settlement was announced on October 17, 2008.

Pfizer Pays $2.3 Billion in Marketing Case Settlement

In 2009, Pfizer settled a marketing case by paying $2.3 billion. The settlement was related to marketing practices that were under scrutiny.

Pfizer Acquires Wyeth

On October 15, 2009, Pfizer acquired Wyeth, forming a company with a diverse range of products and treatments that impact individuals at various life stages.

Blue Cross Blue Shield lawsuit against Pfizer

In June 2010, Blue Cross Blue Shield filed a lawsuit against Pfizer for allegedly illegally marketing drugs Bextra, Geodon, and Lyrica. The lawsuit accused Pfizer of using kickbacks and misleading tactics to promote the drugs.

Pfizer Pays $330M in Prempro Settlement

In 2011, Pfizer agreed to pay $330 million in a settlement related to Prempro. The settlement was a result of legal issues surrounding the medication.

FDA approval of bosutinib (Bosulif) for CML

On September 4, 2012, the FDA approved bosutinib (Bosulif) for chronic myelogenous leukemia (CML), a rare type of leukemia affecting older adults.

Pfizer and Allergan announce merger

On November 23, 2015, Pfizer and Allergan announced a planned $160 billion merger, which would have been the largest pharmaceutical deal ever.

Termination of Pfizer and Allergan merger

On April 6, 2016, Pfizer and Allergan terminated their merger agreement due to new laws restricting corporate inversions.

Wyeth and Pfizer Agree to Pay $784.6 Million to Resolve Lawsuits

In April 2016, pharmaceutical companies Wyeth and Pfizer agreed to pay $784.6 million to settle lawsuits accusing Wyeth of underpaying drug rebates to Medicaid.

On March 14, 2017, an article about Pfizer was published by Helfand. The article can be accessed from the website fiercepharma.com.

Pfizer ends research on Alzheimer's and Parkinsonism treatments

In January 2018, Pfizer announced the discontinuation of research on treatments for Alzheimer's disease and Parkinsonism, leading to job losses for 300 researchers.

Pfizer Testosterone Therapy Lawsuits Agreement

In February 2018, Pfizer reached an agreement with consumers in the testosterone therapy lawsuits, ending its involvement in the litigation where more than 7,800 lawsuits had been filed. The lawsuits alleged that testosterone products caused strokes, blood clots, and heart attacks.

Albert Bourla becomes CEO of Pfizer

In October 2018, Albert Bourla was promoted to chief executive officer of Pfizer, succeeding Ian Read.

Pfizer Reports Fourth-Quarter And Full-Year 2019 Results

Pfizer released the financial results for the fourth quarter and full year of 2019.

Pfizer and BioNTech Announce COVID-19 Vaccine Efficacy

On November 9, 2020, Pfizer and BioNTech revealed that their COVID-19 vaccine was 90% effective in preventing symptomatic COVID-19.

Pfizer's COVID-19 Vaccine Development Funding

Pfizer has fully funded the development and manufacturing costs of their COVID-19 vaccine, investing billions of dollars at risk to expedite finding a solution to the pandemic.

Pfizer and BioNtech Conclude Phase 3 Study of Covid-19 Vaccine Candidate

On November 18, 2020, Pfizer and BioNtech successfully completed the Phase 3 study of their Covid-19 vaccine candidate, meeting all primary efficacy endpoints.

Pfizer and BioNTech receive temporary authorization in the U.K. for BNT162b2 vaccine

Pfizer and BioNTech received the world’s first temporary authorization in the U.K. for their coronavirus vaccine, BNT162b2.

Pfizer-BioNTech COVID-19 Vaccine Approval

Pfizer and BioNTech's COVID-19 vaccine received emergency use authorization from the FDA on December 11, 2020.

FDA Authorization for Pfizer-BioNTech COVID-19 Vaccine

On December 11, 2020, the FDA granted emergency use authorization for the Pfizer-BioNTech COVID-19 vaccine in the U.S. This decision was based on the positive clinical trial results and the vaccine meeting safety and effectiveness requirements.

Comirnaty becomes the first FDA-approved COVID-19 vaccine

The vaccine, now called Comirnaty, became the first FDA-approved COVID-19 vaccine on Aug. 23, 2021.

Pfizer recalls Chantix 0.5 mg and 1 mg tablets

On Sept. 16, 2021, Pfizer voluntarily recalled all lots of Chantix 0.5 mg and 1 mg tablets due to an increased cancer risk from high levels of N-nitroso-varenicline. The recall was described as precautionary.

Booster Shot Availability for Pfizer Vaccine

Starting the week of September 20, 2021, the CDC and health officials announced the availability of a booster shot for Americans fully vaccinated with the Pfizer COVID-19 vaccine in response to the spread of the COVID-19 Delta variant.

Whistleblower reveals misconduct at Ventavia Research Group hired by Pfizer

On November 2, 2021, The Bureau of Investigative Journalism published an article based on a whistleblower's information from Ventavia Research Group, a Pfizer subcontractor. The whistleblower exposed data falsification, unblinding of patients, and other unethical practices in Pfizer's phase III trial.

End of the Timeline
Pfizer

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