Pfizer Incorporated (NYSE: PFE; English pronunciation: /ˈfaɪzər/) is a global pharmaceutical company, ranking number one in sales in the world. The company is based in New York City, with its research headquarters in Groton, Connecticut. It produces Lipitor (atorvastatin, used to lower blood cholesterol); the neuropathic pain/fibromyalgia drug Lyrica (pregabalin); the oral antifungal medication Diflucan (fluconazole), the antibiotic Zithromax (azithromycin), Viagra (sildenafil) for erectile dysfunction, and the anti-inflammatory Celebrex (celecoxib) (also known as Celebra in some countries outside the USA and Canada, mainly in South America). Its headquarters are in Midtown Manhattan, New York City.[2]
Pfizer's shares were made a component of the Dow Jones Industrial Average on April 8, 2004.[3]
Pfizer pleaded guilty in 2009 to the largest health care fraud in U.S. history and received the largest criminal penalty ever levied for illegal marketing of four of its drugs. Called a repeat offender, this was Pfizer's fourth such settlement with the U.S. Department of Justice in the previous ten years.[4][5] On January 26, 2009, Pfizer agreed to buy pharmaceutical giant Wyeth for US$68 billion, a deal financed with cash, shares and loans.[6] The deal was completed on October 15, 2009.
Pfizer Inc. is one of the leading research-based healthcare companies in the world. Following its June 2000 takeover of Warner-Lambert Company, Pfizer was organized into four groups: Pfizer Pharmaceuticals Group, Warner-Lambert Consumer Group, Pfizer Animal Health Group, and Pfizer Global Research and Development. Among the prescription drugs marketed by Pfizer Pharmaceuticals with annual revenues exceeding $1 billion are Norvasc, for the treatment of hypertension and angina; Lipitor, a cholesterol reducer; Zoloft, an antidepressant; Zithromax, an oral antibiotic; Diflucan, an antifungal product; and Viagra, the famous treatment for erectile dysfunction. Warner-Lambert Consumer markets a number of leading consumer brands, including such over-the-counter healthcare mainstays as Benadryl, Sudafed, Listerine, Visine, Rolaids, and Ben Gay; in the confectionery area, Trident, Dentyne, Certs, and Halls; Schick and Wilkinson Sword shaving products; and Tetra fish food. Pfizer Animal Health is a world leader in medicines for pets and livestock. On the development side, Pfizer Global R & D spends $4.5 billion a year shepherding candidates through the product pipeline, which at any one time can include more than 130 possible new products. R & D efforts also are aided by the 250 alliances that Pfizer has formed with academia and industry.
Pfizer Inc. (Pfizer), incoroprated on June 2, 1942, is a research-based, global biopharmaceutical company. The Company operates in two segments: Biopharmaceutical and Diversified. Biopharmaceutical includes the Primary Care, Specialty Care, Established Products, Emerging Markets and Oncology customer-focused units, which includes products that prevent and treat cardiovascular and metabolic diseases, central nervous system disorders, arthritis and pain, respiratory diseases, urogenital conditions, cancer, eye disease and endocrine disorders, among others. Diversified includes Animal Health products; Consumer Healthcare products , such as pain management therapies, cough/cold/allergy remedies, dietary supplements, hemorrhoidal care and other personal care items; Nutrition products such as infant and toddler formula products, and Capsugel. On January 31, 2011, it acquired approximately 92.5% of King’s common stock.
Biopharmaceutical
Revenues from the Biopharmaceutical segment contributed approximately 86% of the total revenues during the year ended December 31, 2010. The products in this segment include Lipitor, Enbrel, Lyrica, Prevnar/Prevenar 13, Celebrex, Viagra, Xalabrands, Effexor XR, Norvasc, Prevnar/Prevenar (7-valent), Zyvox, Premarin, Sutent, Geodon/Zeldox, Detrol/Detrol LA, Zosyn/Tazocin, Genotropin, Vfend, Protonix, Chantix/Champix, BeneFIX, ReFacto AF, Xyntha, Caduet, Revatio, Pristiq, Aricept and Spiriva. Lipitor is used for the treatment of elevated LDL-cholesterol levels in the blood. Enbrel is for the treatment of rheumatoid arthritis, polyarticular juvenile rheumatoid arthritis, psoriatic arthritis, plaque psoriasis and ankylosing spondylitis, a type of arthritis affecting the spine. Lyrica is indicated for the management of post-herpetic neuralgia (PHN), diabetic peripheral neuropathy (DPN), fibromyalgia, and as adjunctive therapy for adult patients with partial onset seizures in the United States, and for neuropathic pain, adjunctive treatment of epilepsy and general anxiety disorder (GAD) in certain countries outside the United States.
Prevnar/Prevenar (7-valent) is a 7-valent pneumococcal conjugate vaccine for preventing invasive pneumococcal disease in infants and young children. Zyvox is used for the treatment of certain serious Gram-positive pathogens, including Methicillin-Resistant Staphylococcus-Aureus in complicated skin structure infections and nosocomial pneumonia. Premarin family of products offers a therapy to help women address moderate to severe menopausal symptoms. Sutent is for the treatment of advanced renal cell carcinoma, including metastatic renal cell carcinoma (mRCC), and gastrointestinal stromal tumors (GIST) after disease progression on, or intolerance to, imatinib mesylate. Geodon/Zeldox, an atypical antipsychotic, is indicated for the treatment of schizophrenia, as monotherapy for the acute treatment of bipolar manic or mixed episodes, and as an adjunct to lithium or valproate for the maintenance treatment of bipolar disorder. Detrol/Detrol LA is a muscarinic receptor antagonist for overactive bladder. Detrol LA is an extended-release formulation taken once a day. Zosyn/Tazocin is an intravenous antibiotic, faces generic competition in the U.S. and certain other markets. Genotropin is used in children for the treatment of short stature with growth hormone deficiency, Prader-Willi Syndrome, Turner Syndrome, Small for Gestational Age Syndrome, Idiopathic Short Stature (in the United States only) and Chronic Renal Insufficiency (outside the United States only), as well as in adults with growth hormone deficiency. Vfend is an intravenous and oral form used as an antifungal agent. Protonix is a proton pump inhibitor for gastroesophageal reflux disease. Chantix/Champix is for the treatment of smoking cessation.
BeneFIX, ReFacto AF, Xyntha are hemophilia products that assist patients with lifelong bleeding disorder. BeneFIX is a recombinant factor IX product for the treatment of hemophilia B, while ReFacto AF/Xyntha are recombinant factor VIII products for the treatment of hemophilia A. Both products are indicated for the control and prevention of bleeding in patients with these disorders and in some countries also are indicated for prophylaxis in certain situations, such as surgery. Caduet is a single pill therapy combining Lipitor and Norvasc for the prevention of cardiovascular events. Revatio is for the treatment of pulmonary arterial hypertension. Pristiq was approved for the treatment of Major Depressive Disorder (MDD) in the United States. Pristiq has also been approved for treatment of moderate-to-severe vasomotor symptoms (VMS) associated with menopause in Thailand, Mexico and the Philippines. Aricept is used to treat symptoms of Alzheimer’s disease. Spiriva is an inhaled maintenance prescription treatment for breathing problems associated with chronic obstructive pulmonary disease (COPD), a lung condition that includes chronic bronchitis, emphysema, or both.
Diversified
The Company’s Animal Health unit discovers, develops and sells products for the prevention and treatment of diseases in livestock and companion animals. Among the products it markets are vaccines, anti-infectives, anti-inflammatories, antiemetics and parasiticides, including Startect, which is a product combining two anthelmintics to deliver a range of parasitic worm infestation in sheep; Improvac, which is a gonadotropin releasing factor (GnRF) vaccine for swine that prevents boar taint; Palladia is a treatment of mast cell tumours, a common form of cancer that affects dogs; it works by killing tumor cells and by cutting off the blood supply to the tumor; Convenia is an anti-infective for dogs and cats that delivers an assured full course of therapy from a single injection; Cerenia, which is a selective NK-1 receptor antagonist for the treatment and prevention of vomiting in dogs and for the prevention of motion sickness; Revolution/Stronghold, which is a topically administered parasiticide for dogs and cats that controls a number of different parasites, such as fleas and heartworm; Rimadyl, which relieves pain and inflammation associated with canine osteoarthritis and soft tissue orthopedic surgery; Draxxin is a single dose anti-infective used to treat infections in cattle and swine; Excede is a single-dose anti-infective used to treat infections in dairy cows, beef cattle and swine, and Zulvac, which provides a vaccination program for cattle against the viral disease, bluetongue.
Consumer Healthcare categories and product lines include Dietary Supplements, Pain Management, Respiratory and Personal Care. Dietary Supplements include Centrum brands (including Centrum, Centrum Silver, Centrum Men’s and Women’s, Centrum Performance, Centrum Cardio and Centrum Kids), Caltrate. Pain Management includes Advil brands (including Advil, Advil PM, Advil Liqui-Gels, Children’s Advil, Infant’s Advil, Advil Migraine), ThermaCare. Respiratory includes Robitussin, Advil Cold & Sinus, Advil Congestion Relief, Dimetapp and Personal Care includes ChapStick, Preparation H.
Pfizer Nutrition offers infant nutritionals in the markets, in which it operates. Nutrition products include S26 Preterm Feeding System, specialty formulas, such as S26 PE Gold, S26 HA Gold and a range of age-specific products that include S26 PE Gold, Progress, Promil and Promise.
Capsugel has a product line that includes hard gelatin capsules. It also includes liquid, softgel, non-animal, and fish gelatin capsules, all for use in pharmaceutical and dietary supplement dosage delivery.
Goodes retired from his position as CEO and chairman of Warner-Lambert in May 1999, with the company's president, Lodewijk J.R. de Vink, taking on Goodes's titles as well. In early November of that year, as drug industry consolidation was continuing, Warner-Lambert agreed to a nearly $70 billion merger with American Home Products Corporation (AHP). Pfizer, not wanting to lose its 50 percent of the revenues from the sale of the blockbuster Lipitor--with sales nearing $4 billion per year--and seeking to bolster its product pipeline through the addition of Agouron, stepped in within hours with a hostile bid exceeding AHP's offer. Warner-Lambert attempted to fend Pfizer off, even bringing in a third party, the Procter & Gamble Company (P & G), to discuss a three-way deal with P & G and AHP. P & G soon dropped out of the picture when its stock price plummeted on news of the talks. Finally, in early February 2000, Pfizer and Warner-Lambert reached agreement on what was initially an $84 billion merger, ending the largest hostile takeover action in U.S. history. AHP received a breakup fee of $1.8 billion, which was believed to be the largest such payment ever made.
The merger was completed in June 2000 in what ended up being a $116 billion stock swap. The combined company retained the Pfizer Inc. name, with the consumer product lines of the two firms combined within a unit called Warner-Lambert Consumer Group. The FTC forced the firms to complete a number of relatively minor divestitures. The new Pfizer boasted pro forma 1999 revenues of $27.3 billion, making it the world's number two drug company, trailing only Aventis. The company had the industry's largest R & D budget, totaling $4.7 billion in 2000, as well as what was generally considered to be the industry's top sales and marketing operation. In terms of prescription drugs, Pfizer now marketed eight products with annual sales in excess of $1 billion. The Warner-Lambert Consumer Group was a leading marketer of OTC healthcare, confectionery, and shaving brands, with 1999 pro forma revenues of $5.5 billion. The Pfizer Animal Health Group was the world leader in medicines for pets and livestock, with 1999 sales of $1.3 billion. William C. Steere continued at the helm of Pfizer in the initial months following the merger, but was slated to retire in early 2001 and be replaced by the company's president and COO, Henry McKinnell. The company veteran, who joined Pfizer in 1971, was faced with the challenges of integrating the staffs and cultures of Pfizer and Warner-Lambert, healing whatever wounds might be left over from the bruising takeover battle, and restoring investor confidence in the company's product pipeline. McKinnell was aiming to achieve annual cost savings of $1.6 billion by 2002 through the elimination of redundant activities and the centralizing of such operations as the two companies' distribution systems. Two major product launches were anticipated to occur in 2001: Zeldox, an antipsychotic drug, and Relpax, a migraine treatment.
Principal Operating Units: Pfizer Pharmaceuticals Group; Pfizer Global Research and Development; Animal Health Group; Warner-Lambert Consumer Group.
Principal Competitors: Abbott Laboratories; American Home Products Corporation; Aventis; Bayer AG; Bristol-Myers Squibb Company; Colgate-Palmolive Company; Eli Lilly and Company; Glaxo Wellcome plc; Johnson & Johnson; Merck & Co., Inc.; Novartis AG; Roche Holding Ltd.; Schering-Plough Corporation; SmithKline Beecham plc.
OVERALL
Beta: 0.72
Market Cap (Mil.): $164,698.91
Shares Outstanding (Mil.): 7,991.21
Annual Dividend: 0.80
Yield (%): 3.88
FINANCIALS
PFE.N Industry Sector
P/E (TTM): 19.64 21.12 44.01
EPS (TTM): -4.86 -- --
ROI: -- 6.84 5.71
ROE: -- 8.71 6.91
Statistics:
Public Company
Incorporated: 1900 as Charles Pfizer & Company Inc.
Employees: 50,900
Sales: $27.3 billion (1999 pro forma)
Stock Exchanges: New York Boston Cincinnati Midwest Pacific Philadelphia London Paris Brussels Zurich Swiss
Ticker Symbol: PFE
NAIC: 325412 Pharmaceutical Preparation Manufacturing; 325411 Medicinal and Botanical Manufacturing; 325413 In-Vitro Diagnostic Substance Manufacturing; 325414 Biological Product (Except Diagnostic) Manufacturing; 325611 Soap and Other Detergent Manufacturing; 325620 Toilet Preparation Manufacturing; 541710 Research and Development in the Physical, Engineering, and Life Sciences
Key Dates:
1772: Henry Nock founds the business that eventually becomes Wilkinson Sword.
1849: Charles Pfizer and Charles Erhart found Charles Pfizer & Company.
1866: Parke-Davis is founded in Detroit by Hervey C. Parke and George S. Davis.
1870s
r. Joseph Lawrence develops the original formula for Listerine.
1877: Wilkinson Sword begins making straight razors.
1881: Lawrence sells his formula to Jordan Wheat Lambert, who founds Lambert Pharmacal Company.
1886: William R. Warner founds William R. Warner & Company.
1899: Several major U.S. gum producers merge to form American Chicle.
1900: Charles Pfizer & Company Inc. is incorporated in New Jersey.
1916: Warner & Co. acquires Richard Hudnut Company, a cosmetics firm.
1921: Colonel Jacob Schick invents the Magazine Repeating Razor, forerunner of the Schick Injector razor.
1942: Pfizer goes public.
1944: Pfizer begins mass production of penicillin, primarily for the war effort.
1950: Pfizer launches Terramycin, an antibiotic; Warner & Co. is renamed Warner-Hudnut, Inc.
1955: Warner-Hudnut merges with Lambert Pharmacal to form Warner-Lambert Company.
1962: Warner-Lambert acquires American Chicle.
1970: Charles Pfizer & Company is renamed Pfizer Inc.; Warner-Lambert acquires Schick and Parke, Davis.
1984: Agouron Pharmaceuticals, Inc. is founded.
1989: Pfizer launches Procardia XL.
1992: Pfizer launches Novasc, Zoloft, and Zithromax.
1993: Warner-Lambert acquires Wilkinson Sword.
1995: Pfizer acquires the animal health unit of SmithKline Beecham.
1997: Warner-Lambert launches Lipitor through a marketing alliance with Pfizer.
1998: Pfizer divests its Medical Technology Group; Pfizer launches Viagra.
1999: Pfizer begins comarketing Celebrex; Warner-Lambert acquires Agouron Pharmaceuticals.
2000: Pfizer acquires Warner-Lambert.
Name Age Since Current Position
Lorch, George 70 2010 Independent Non-Executive Chairman of the Board
Read, Ian 57 2010 President, Chief Executive Officer, Director
D'Amelio, Frank 53 2010 Chief Financial Officer, Executive Vice President - Business Operations
Dolsten, Mikael 52 2010 President - Pfizer Worldwide Research and Development
Redmond, Cavan 50 2010 Group President - Animal Health, Consumer Healthcare, Capsugel and Corporate Strategy
Lankler, Douglas 45 2011 Executive Vice President, Chief Compliance and Risk Officer
Schulman, Amy 50 2010 Executive Vice President, General Counsel, Business Unit Lead - Pfizer Nutrition
Hill, Charles 55 2010 Executive Vice President - Worldwide Human Resources
Susman, Sally 49 2010 Executive Vice President - Policy, External Affairs and Communications
Lewis-Hall, Freda 56 2010 Executive Vice President, Chief Medical Officer
Peck, Kristin 39 2010 Executive Vice President - Worldwide Business Development and Innovation
Ricciardi, Natale 62 2004 Senior Vice President; President of Pfizer Global Manufacturing
Brandicourt, Olivier 55 2008 President and General Manager - Pfizer Primary Care
Germano, Geno 50 2010 President and General Manager - Pfizer Specialty Care and Oncology
Simmons, David 46 2010 President and General Manager - Emerging Markets and Established Products units
Burns, M. Anthony 68 1988 Independent Director
Brown, Michael 70 1996 Independent Director
Horner, Constance 69 2010 Independent Director
Cornwell, W. Don 63 1997 Independent Director
Gray, William 69 2000 Independent Director
Ausiello, Dennis 65 2006 Independent Director
Nora Johnson, Suzanne 53 2007 Independent Director
Kilts, James 63 2007 Independent Director
Sanger, Stephen 65 2009 Independent Director
Fergusson, Frances 66 2009 Independent Director
Mascotte, John 71 2009 Independent Director
Address:
235 East 42nd Street
New York, New York 10017-5755
U.S.A.
Pfizer's shares were made a component of the Dow Jones Industrial Average on April 8, 2004.[3]
Pfizer pleaded guilty in 2009 to the largest health care fraud in U.S. history and received the largest criminal penalty ever levied for illegal marketing of four of its drugs. Called a repeat offender, this was Pfizer's fourth such settlement with the U.S. Department of Justice in the previous ten years.[4][5] On January 26, 2009, Pfizer agreed to buy pharmaceutical giant Wyeth for US$68 billion, a deal financed with cash, shares and loans.[6] The deal was completed on October 15, 2009.
Pfizer Inc. is one of the leading research-based healthcare companies in the world. Following its June 2000 takeover of Warner-Lambert Company, Pfizer was organized into four groups: Pfizer Pharmaceuticals Group, Warner-Lambert Consumer Group, Pfizer Animal Health Group, and Pfizer Global Research and Development. Among the prescription drugs marketed by Pfizer Pharmaceuticals with annual revenues exceeding $1 billion are Norvasc, for the treatment of hypertension and angina; Lipitor, a cholesterol reducer; Zoloft, an antidepressant; Zithromax, an oral antibiotic; Diflucan, an antifungal product; and Viagra, the famous treatment for erectile dysfunction. Warner-Lambert Consumer markets a number of leading consumer brands, including such over-the-counter healthcare mainstays as Benadryl, Sudafed, Listerine, Visine, Rolaids, and Ben Gay; in the confectionery area, Trident, Dentyne, Certs, and Halls; Schick and Wilkinson Sword shaving products; and Tetra fish food. Pfizer Animal Health is a world leader in medicines for pets and livestock. On the development side, Pfizer Global R & D spends $4.5 billion a year shepherding candidates through the product pipeline, which at any one time can include more than 130 possible new products. R & D efforts also are aided by the 250 alliances that Pfizer has formed with academia and industry.
Pfizer Inc. (Pfizer), incoroprated on June 2, 1942, is a research-based, global biopharmaceutical company. The Company operates in two segments: Biopharmaceutical and Diversified. Biopharmaceutical includes the Primary Care, Specialty Care, Established Products, Emerging Markets and Oncology customer-focused units, which includes products that prevent and treat cardiovascular and metabolic diseases, central nervous system disorders, arthritis and pain, respiratory diseases, urogenital conditions, cancer, eye disease and endocrine disorders, among others. Diversified includes Animal Health products; Consumer Healthcare products , such as pain management therapies, cough/cold/allergy remedies, dietary supplements, hemorrhoidal care and other personal care items; Nutrition products such as infant and toddler formula products, and Capsugel. On January 31, 2011, it acquired approximately 92.5% of King’s common stock.
Biopharmaceutical
Revenues from the Biopharmaceutical segment contributed approximately 86% of the total revenues during the year ended December 31, 2010. The products in this segment include Lipitor, Enbrel, Lyrica, Prevnar/Prevenar 13, Celebrex, Viagra, Xalabrands, Effexor XR, Norvasc, Prevnar/Prevenar (7-valent), Zyvox, Premarin, Sutent, Geodon/Zeldox, Detrol/Detrol LA, Zosyn/Tazocin, Genotropin, Vfend, Protonix, Chantix/Champix, BeneFIX, ReFacto AF, Xyntha, Caduet, Revatio, Pristiq, Aricept and Spiriva. Lipitor is used for the treatment of elevated LDL-cholesterol levels in the blood. Enbrel is for the treatment of rheumatoid arthritis, polyarticular juvenile rheumatoid arthritis, psoriatic arthritis, plaque psoriasis and ankylosing spondylitis, a type of arthritis affecting the spine. Lyrica is indicated for the management of post-herpetic neuralgia (PHN), diabetic peripheral neuropathy (DPN), fibromyalgia, and as adjunctive therapy for adult patients with partial onset seizures in the United States, and for neuropathic pain, adjunctive treatment of epilepsy and general anxiety disorder (GAD) in certain countries outside the United States.
Prevnar/Prevenar (7-valent) is a 7-valent pneumococcal conjugate vaccine for preventing invasive pneumococcal disease in infants and young children. Zyvox is used for the treatment of certain serious Gram-positive pathogens, including Methicillin-Resistant Staphylococcus-Aureus in complicated skin structure infections and nosocomial pneumonia. Premarin family of products offers a therapy to help women address moderate to severe menopausal symptoms. Sutent is for the treatment of advanced renal cell carcinoma, including metastatic renal cell carcinoma (mRCC), and gastrointestinal stromal tumors (GIST) after disease progression on, or intolerance to, imatinib mesylate. Geodon/Zeldox, an atypical antipsychotic, is indicated for the treatment of schizophrenia, as monotherapy for the acute treatment of bipolar manic or mixed episodes, and as an adjunct to lithium or valproate for the maintenance treatment of bipolar disorder. Detrol/Detrol LA is a muscarinic receptor antagonist for overactive bladder. Detrol LA is an extended-release formulation taken once a day. Zosyn/Tazocin is an intravenous antibiotic, faces generic competition in the U.S. and certain other markets. Genotropin is used in children for the treatment of short stature with growth hormone deficiency, Prader-Willi Syndrome, Turner Syndrome, Small for Gestational Age Syndrome, Idiopathic Short Stature (in the United States only) and Chronic Renal Insufficiency (outside the United States only), as well as in adults with growth hormone deficiency. Vfend is an intravenous and oral form used as an antifungal agent. Protonix is a proton pump inhibitor for gastroesophageal reflux disease. Chantix/Champix is for the treatment of smoking cessation.
BeneFIX, ReFacto AF, Xyntha are hemophilia products that assist patients with lifelong bleeding disorder. BeneFIX is a recombinant factor IX product for the treatment of hemophilia B, while ReFacto AF/Xyntha are recombinant factor VIII products for the treatment of hemophilia A. Both products are indicated for the control and prevention of bleeding in patients with these disorders and in some countries also are indicated for prophylaxis in certain situations, such as surgery. Caduet is a single pill therapy combining Lipitor and Norvasc for the prevention of cardiovascular events. Revatio is for the treatment of pulmonary arterial hypertension. Pristiq was approved for the treatment of Major Depressive Disorder (MDD) in the United States. Pristiq has also been approved for treatment of moderate-to-severe vasomotor symptoms (VMS) associated with menopause in Thailand, Mexico and the Philippines. Aricept is used to treat symptoms of Alzheimer’s disease. Spiriva is an inhaled maintenance prescription treatment for breathing problems associated with chronic obstructive pulmonary disease (COPD), a lung condition that includes chronic bronchitis, emphysema, or both.
Diversified
The Company’s Animal Health unit discovers, develops and sells products for the prevention and treatment of diseases in livestock and companion animals. Among the products it markets are vaccines, anti-infectives, anti-inflammatories, antiemetics and parasiticides, including Startect, which is a product combining two anthelmintics to deliver a range of parasitic worm infestation in sheep; Improvac, which is a gonadotropin releasing factor (GnRF) vaccine for swine that prevents boar taint; Palladia is a treatment of mast cell tumours, a common form of cancer that affects dogs; it works by killing tumor cells and by cutting off the blood supply to the tumor; Convenia is an anti-infective for dogs and cats that delivers an assured full course of therapy from a single injection; Cerenia, which is a selective NK-1 receptor antagonist for the treatment and prevention of vomiting in dogs and for the prevention of motion sickness; Revolution/Stronghold, which is a topically administered parasiticide for dogs and cats that controls a number of different parasites, such as fleas and heartworm; Rimadyl, which relieves pain and inflammation associated with canine osteoarthritis and soft tissue orthopedic surgery; Draxxin is a single dose anti-infective used to treat infections in cattle and swine; Excede is a single-dose anti-infective used to treat infections in dairy cows, beef cattle and swine, and Zulvac, which provides a vaccination program for cattle against the viral disease, bluetongue.
Consumer Healthcare categories and product lines include Dietary Supplements, Pain Management, Respiratory and Personal Care. Dietary Supplements include Centrum brands (including Centrum, Centrum Silver, Centrum Men’s and Women’s, Centrum Performance, Centrum Cardio and Centrum Kids), Caltrate. Pain Management includes Advil brands (including Advil, Advil PM, Advil Liqui-Gels, Children’s Advil, Infant’s Advil, Advil Migraine), ThermaCare. Respiratory includes Robitussin, Advil Cold & Sinus, Advil Congestion Relief, Dimetapp and Personal Care includes ChapStick, Preparation H.
Pfizer Nutrition offers infant nutritionals in the markets, in which it operates. Nutrition products include S26 Preterm Feeding System, specialty formulas, such as S26 PE Gold, S26 HA Gold and a range of age-specific products that include S26 PE Gold, Progress, Promil and Promise.
Capsugel has a product line that includes hard gelatin capsules. It also includes liquid, softgel, non-animal, and fish gelatin capsules, all for use in pharmaceutical and dietary supplement dosage delivery.
Goodes retired from his position as CEO and chairman of Warner-Lambert in May 1999, with the company's president, Lodewijk J.R. de Vink, taking on Goodes's titles as well. In early November of that year, as drug industry consolidation was continuing, Warner-Lambert agreed to a nearly $70 billion merger with American Home Products Corporation (AHP). Pfizer, not wanting to lose its 50 percent of the revenues from the sale of the blockbuster Lipitor--with sales nearing $4 billion per year--and seeking to bolster its product pipeline through the addition of Agouron, stepped in within hours with a hostile bid exceeding AHP's offer. Warner-Lambert attempted to fend Pfizer off, even bringing in a third party, the Procter & Gamble Company (P & G), to discuss a three-way deal with P & G and AHP. P & G soon dropped out of the picture when its stock price plummeted on news of the talks. Finally, in early February 2000, Pfizer and Warner-Lambert reached agreement on what was initially an $84 billion merger, ending the largest hostile takeover action in U.S. history. AHP received a breakup fee of $1.8 billion, which was believed to be the largest such payment ever made.
The merger was completed in June 2000 in what ended up being a $116 billion stock swap. The combined company retained the Pfizer Inc. name, with the consumer product lines of the two firms combined within a unit called Warner-Lambert Consumer Group. The FTC forced the firms to complete a number of relatively minor divestitures. The new Pfizer boasted pro forma 1999 revenues of $27.3 billion, making it the world's number two drug company, trailing only Aventis. The company had the industry's largest R & D budget, totaling $4.7 billion in 2000, as well as what was generally considered to be the industry's top sales and marketing operation. In terms of prescription drugs, Pfizer now marketed eight products with annual sales in excess of $1 billion. The Warner-Lambert Consumer Group was a leading marketer of OTC healthcare, confectionery, and shaving brands, with 1999 pro forma revenues of $5.5 billion. The Pfizer Animal Health Group was the world leader in medicines for pets and livestock, with 1999 sales of $1.3 billion. William C. Steere continued at the helm of Pfizer in the initial months following the merger, but was slated to retire in early 2001 and be replaced by the company's president and COO, Henry McKinnell. The company veteran, who joined Pfizer in 1971, was faced with the challenges of integrating the staffs and cultures of Pfizer and Warner-Lambert, healing whatever wounds might be left over from the bruising takeover battle, and restoring investor confidence in the company's product pipeline. McKinnell was aiming to achieve annual cost savings of $1.6 billion by 2002 through the elimination of redundant activities and the centralizing of such operations as the two companies' distribution systems. Two major product launches were anticipated to occur in 2001: Zeldox, an antipsychotic drug, and Relpax, a migraine treatment.
Principal Operating Units: Pfizer Pharmaceuticals Group; Pfizer Global Research and Development; Animal Health Group; Warner-Lambert Consumer Group.
Principal Competitors: Abbott Laboratories; American Home Products Corporation; Aventis; Bayer AG; Bristol-Myers Squibb Company; Colgate-Palmolive Company; Eli Lilly and Company; Glaxo Wellcome plc; Johnson & Johnson; Merck & Co., Inc.; Novartis AG; Roche Holding Ltd.; Schering-Plough Corporation; SmithKline Beecham plc.
OVERALL
Beta: 0.72
Market Cap (Mil.): $164,698.91
Shares Outstanding (Mil.): 7,991.21
Annual Dividend: 0.80
Yield (%): 3.88
FINANCIALS
PFE.N Industry Sector
P/E (TTM): 19.64 21.12 44.01
EPS (TTM): -4.86 -- --
ROI: -- 6.84 5.71
ROE: -- 8.71 6.91
Statistics:
Public Company
Incorporated: 1900 as Charles Pfizer & Company Inc.
Employees: 50,900
Sales: $27.3 billion (1999 pro forma)
Stock Exchanges: New York Boston Cincinnati Midwest Pacific Philadelphia London Paris Brussels Zurich Swiss
Ticker Symbol: PFE
NAIC: 325412 Pharmaceutical Preparation Manufacturing; 325411 Medicinal and Botanical Manufacturing; 325413 In-Vitro Diagnostic Substance Manufacturing; 325414 Biological Product (Except Diagnostic) Manufacturing; 325611 Soap and Other Detergent Manufacturing; 325620 Toilet Preparation Manufacturing; 541710 Research and Development in the Physical, Engineering, and Life Sciences
Key Dates:
1772: Henry Nock founds the business that eventually becomes Wilkinson Sword.
1849: Charles Pfizer and Charles Erhart found Charles Pfizer & Company.
1866: Parke-Davis is founded in Detroit by Hervey C. Parke and George S. Davis.
1870s
r. Joseph Lawrence develops the original formula for Listerine. 1877: Wilkinson Sword begins making straight razors.
1881: Lawrence sells his formula to Jordan Wheat Lambert, who founds Lambert Pharmacal Company.
1886: William R. Warner founds William R. Warner & Company.
1899: Several major U.S. gum producers merge to form American Chicle.
1900: Charles Pfizer & Company Inc. is incorporated in New Jersey.
1916: Warner & Co. acquires Richard Hudnut Company, a cosmetics firm.
1921: Colonel Jacob Schick invents the Magazine Repeating Razor, forerunner of the Schick Injector razor.
1942: Pfizer goes public.
1944: Pfizer begins mass production of penicillin, primarily for the war effort.
1950: Pfizer launches Terramycin, an antibiotic; Warner & Co. is renamed Warner-Hudnut, Inc.
1955: Warner-Hudnut merges with Lambert Pharmacal to form Warner-Lambert Company.
1962: Warner-Lambert acquires American Chicle.
1970: Charles Pfizer & Company is renamed Pfizer Inc.; Warner-Lambert acquires Schick and Parke, Davis.
1984: Agouron Pharmaceuticals, Inc. is founded.
1989: Pfizer launches Procardia XL.
1992: Pfizer launches Novasc, Zoloft, and Zithromax.
1993: Warner-Lambert acquires Wilkinson Sword.
1995: Pfizer acquires the animal health unit of SmithKline Beecham.
1997: Warner-Lambert launches Lipitor through a marketing alliance with Pfizer.
1998: Pfizer divests its Medical Technology Group; Pfizer launches Viagra.
1999: Pfizer begins comarketing Celebrex; Warner-Lambert acquires Agouron Pharmaceuticals.
2000: Pfizer acquires Warner-Lambert.
Name Age Since Current Position
Lorch, George 70 2010 Independent Non-Executive Chairman of the Board
Read, Ian 57 2010 President, Chief Executive Officer, Director
D'Amelio, Frank 53 2010 Chief Financial Officer, Executive Vice President - Business Operations
Dolsten, Mikael 52 2010 President - Pfizer Worldwide Research and Development
Redmond, Cavan 50 2010 Group President - Animal Health, Consumer Healthcare, Capsugel and Corporate Strategy
Lankler, Douglas 45 2011 Executive Vice President, Chief Compliance and Risk Officer
Schulman, Amy 50 2010 Executive Vice President, General Counsel, Business Unit Lead - Pfizer Nutrition
Hill, Charles 55 2010 Executive Vice President - Worldwide Human Resources
Susman, Sally 49 2010 Executive Vice President - Policy, External Affairs and Communications
Lewis-Hall, Freda 56 2010 Executive Vice President, Chief Medical Officer
Peck, Kristin 39 2010 Executive Vice President - Worldwide Business Development and Innovation
Ricciardi, Natale 62 2004 Senior Vice President; President of Pfizer Global Manufacturing
Brandicourt, Olivier 55 2008 President and General Manager - Pfizer Primary Care
Germano, Geno 50 2010 President and General Manager - Pfizer Specialty Care and Oncology
Simmons, David 46 2010 President and General Manager - Emerging Markets and Established Products units
Burns, M. Anthony 68 1988 Independent Director
Brown, Michael 70 1996 Independent Director
Horner, Constance 69 2010 Independent Director
Cornwell, W. Don 63 1997 Independent Director
Gray, William 69 2000 Independent Director
Ausiello, Dennis 65 2006 Independent Director
Nora Johnson, Suzanne 53 2007 Independent Director
Kilts, James 63 2007 Independent Director
Sanger, Stephen 65 2009 Independent Director
Fergusson, Frances 66 2009 Independent Director
Mascotte, John 71 2009 Independent Director
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