Pfizer (officially Pfizer Inc.) is an American multinational biopharmaceutical company headquartered in New York City, United States. Established in 1849 by cousins Charles Pfizer and Charles F. Erhart, the firm originated as a small chemical manufacturer in Brooklyn before evolving into one of the world’s largest pharmaceutical corporations.[1] The company engages in the research, development, manufacturing, and commercialisation of prescription medicines and vaccines across a wide range of therapeutic areas. Its stated purpose is “Breakthroughs That Change Patients’ Lives,” guided by core values of courage, excellence, equity, and joy.[2]

Pfizer maintains its principal executive offices at 66 Hudson Boulevard East in New York City, and its shares are listed on the New York Stock Exchange under the symbol PFE.[3]

Foundation: 1849

The company was established in 1849 when German-born cousins Charles Pfizer and Charles Erhart founded Charles Pfizer & Company in Brooklyn. While Pfizer possessed a background in chemistry, Erhart brought experience from the grocery and confectionery trades.[4] Their first significant product was santonin, a compound used to treat intestinal worms. To address the substance’s extreme bitterness, the founders formulated it with a sweet almond-toffee flavouring in a candy-like form, thereby improving patient acceptability.[5] During this early period, the enterprise operated primarily as a chemical manufacturer rather than the modern pharmaceutical entity recognised today.

Expansion in the 19th century

A pivotal early success for Pfizer was the production of citric acid. Rising demand for this compound facilitated the company’s transformation from a modest chemical business into a substantial industrial operation.[6] As the firm expanded, it relocated its headquarters to 81 Maiden Lane in Manhattan in 1868. By 1882, Pfizer had opened an office and warehouse in Chicago, marking its first location outside New York.[7] Before the close of the 19th century, the company had secured its position as a significant American chemical manufacturer.

Throughout the 20th century, Pfizer progressively shifted its focus towards pharmaceutical research and large-scale drug manufacturing. A defining moment occurred during World War II, when the company emerged as a primary producer of penicillin. Pfizer’s mastery of large-scale fermentation enabled the mass production of this antibiotic for Allied forces and, subsequently, for civilian medical use. This achievement demonstrated the company’s capacity to integrate scientific research, industrial-scale manufacturing, pharmaceutical development, and global distribution—capabilities that would eventually form the foundation of its modern business model. After operating as a privately held entity for much of its early history, Pfizer became a publicly traded company in 1942.[8]

During the latter half of the 20th century, Pfizer achieved significant expansion through both organic growth and strategic acquisitions. Key transactions that reshaped the company include:

• Warner-Lambert — Acquired in 2000, this transaction brought the Lipitor business to Pfizer and bolstered its pharmaceutical portfolio.
• Pharmacia — Acquired in 2003, significantly broadening Pfizer’s pharmaceutical operations.
• Wyeth — Acquired in 2009, adding major assets in vaccines, biologics, consumer health, and pharmaceuticals.
• Hospira — Acquired in 2015, strengthening the company’s standing in injectable medicines and biosimilars.
• Array BioPharma — Acquired in 2019, enhancing Pfizer’s oncology capabilities.
• Biohaven’s migraine portfolio — Acquired in 2022, adding Nurtec ODT/Vydura.
• Seagen — Acquired in 2023 for approximately $43 billion, markedly expanding Pfizer’s expertise in oncology and antibody-drug conjugates.

These strategic moves have been instrumental in transforming Pfizer from a traditional pharmaceutical manufacturer into a diversified biopharmaceutical organisation.

A landmark chapter in Pfizer’s recent history involves its role in developing and commercialising a vaccine against COVID-19. In partnership with the German biotechnology firm BioNTech, Pfizer developed an mRNA-based COVID-19 vaccine. Marketed as Comirnaty, it was among the first vaccines to receive emergency or conditional authorisation in multiple jurisdictions. The successful deployment of Comirnaty underscored the potential of mRNA technology for rapidly addressing emerging infectious diseases. Additionally, Pfizer developed Paxlovid, an oral antiviral treatment designated for certain high-risk patients. These products generated substantial revenue during the pandemic and elevated Pfizer’s global profile within the pharmaceutical sector.

Today, Pfizer’s business is anchored in innovative medicines and vaccines. According to the company’s 2025 annual review, primary research and development efforts are concentrated in four key areas:

1. Oncology
2. Internal Medicine
3. Vaccines
4. Inflammation & Immunology

The organisation characterises its R&D function as an “innovation engine” dedicated to creating medicines and vaccines with meaningful clinical impact.[9] Pfizer also operates an extensive manufacturing network; in 2025, the company reported that its global facilities produced approximately 45 billion doses of more than 500 medicines and vaccines, supplying roughly 200 countries and territories.[10]

Pfizer’s portfolio comprises hundreds of products. Among the most commercially significant in 2025 were:

These products ranked among Pfizer’s top ten revenue generators in 2025.[11] Historically, the company has also been associated with widely known medicines such as Lipitor, Viagra, and Zoloft, although patent expirations, divestitures, and changes in commercial rights mean some are no longer central to current operations.

Pfizer reported total revenue of US$62.6 billion for 2025, compared to $63.6 billion in 2024. Excluding COVID-19 products, the company recorded 6% operational revenue growth in 2025.[12] Revenue figures for key products illustrate the shift away from pandemic-era dependence:

• Eliquis: $7.961 billion
• Prevnar family: $6.494 billion
• Vyndaqel family: $6.380 billion
• Comirnaty: $4.367 billion
• Ibrance: $4.122 billion
• Paxlovid: $2.362 billion

[13]

While COVID-19 products remain relevant, Pfizer’s revenue base is increasingly diversified across oncology, cardiovascular and internal medicine, vaccines, and other therapeutic categories.

R&D constitutes the core of Pfizer’s identity as a biopharmaceutical leader. The drug development lifecycle typically encompasses discovery, preclinical research, clinical trials, regulatory review, manufacturing, commercialisation, and post-market monitoring. Given the high costs and failure rates inherent in this process, Pfizer concentrates investment in areas where it possesses distinct scientific and commercial strengths, notably oncology, vaccines, internal medicine, and inflammation/immunology.[14] Strategic acquisitions, such as that of Seagen, have further reinforced its capabilities in specialised fields like antibody-drug conjugates (ADCs), which enable more targeted delivery of anticancer agents.

Pfizer maintains a vast international footprint, distributing medicines and vaccines across numerous markets. Sustaining this global reach requires rigorous adherence to quality manufacturing standards, regulatory compliance, cold-chain logistics, raw material sourcing, quality control, and pharmacovigilance. In 2025, the company’s manufacturing network served approximately 200 countries and territories.[15]

As of 2026, Pfizer is led by Albert Bourla, who serves as Chairman and Chief Executive Officer. A veterinarian and pharmaceutical executive born in Greece, Bourla assumed the CEO role in 2019. Under his tenure, the company gained prominence during the COVID-19 pandemic and subsequently initiated strategic restructuring to adapt its portfolio to post-pandemic market conditions.

Pfizer articulates its corporate purpose as:

“Breakthroughs That Change Patients’ Lives.”

The company identifies four core values:

• Courage
• Excellence
• Equity
• Joy

Its objective is to discover and develop therapies that address significant unmet medical needs.[16] Unlike generic drug manufacturers, Pfizer’s identity is rooted in innovative medicines, vaccines, biotechnology, clinical research, and intellectual property.

Pfizer’s operational framework consists of five primary stages:

Discover

Scientists identify biological mechanisms, molecules, antibodies, vaccines, or technologies with potential therapeutic applications.

Develop

Promising candidates undergo laboratory studies and clinical trials to establish safety and efficacy.

Obtain regulatory approval

Data is submitted to regulatory bodies, including the U.S. Food and Drug Administration (FDA) and corresponding authorities in other nations.

Manufacture

Approved products are produced at pharmaceutical-grade facilities adhering to strict quality standards.

Commercialize

Products are distributed via healthcare systems, hospitals, pharmacies, governments, and other channels to generate returns that fund future research.

Like other research-driven pharmaceutical firms, Pfizer depends heavily on patents and regulatory exclusivity. Patent protection allows the company to market new drugs without direct generic competition for a defined period. However, the expiration of these protections typically leads to revenue declines due to generic or biosimilar entry. Consequently, maintaining a robust pipeline of new medicines is essential to replace products losing exclusivity.

Several factors underpin Pfizer’s status as a leading global pharmaceutical company:

Scale

The company commands extensive financial, manufacturing, regulatory, and commercial resources.

Global distribution

Pfizer’s products reach patients in approximately 200 countries and territories.[17]

R&D capabilities

A large research organisation supports extensive global clinical trial experience.

Vaccine expertise

The company has developed major vaccines across various diseases, with Prevnar serving as a cornerstone long-term franchise.

Oncology

Cancer treatment has become a strategic priority, particularly following the Seagen acquisition.

Manufacturing

Pfizer operates one of the world’s largest pharmaceutical manufacturing networks, enabling production at immense scale.[18]

Pfizer, like many major pharmaceutical companies, has faced scrutiny regarding pricing, patent practices, access to medicines, marketing, drug safety, litigation, acquisitions, and vaccine policy. The COVID-19 pandemic intensified public attention on the company due to its central role in vaccine and treatment supply. Discussions of these issues require distinguishing between allegations, legal proceedings, regulatory findings, and established scientific facts.

Pfizer ranks among the top tier of global biopharmaceutical companies, alongside peers such as Johnson & Johnson, Merck & Co., Novartis, Roche, AstraZeneca, Sanofi, GSK, Eli Lilly, and Bristol Myers Squibb. Its competitive advantage derives from combining scientific research, global clinical development, manufacturing scale, regulatory expertise, intellectual property, and commercial reach.

Pfizer’s evolution mirrors broader transformations in modern medicine, spanning from 19th-century chemicals to industrial pharmaceuticals, antibiotics, modern drug discovery, biologics, vaccines, and precision medicine. Its pioneering work in mass penicillin production demonstrated the value of industrial pharmaceutical manufacturing, while its collaboration with BioNTech validated mRNA vaccine technology as a platform for global immunisation. Currently, the company is positioning itself for future growth through oncology, vaccines, internal medicine, inflammation/immunology, and emerging technologies.[19]

Pfizer Inc. is a New York-based multinational biopharmaceutical company founded in Brooklyn in 1849 by Charles Pfizer and Charles F. Erhart. Originally a chemical manufacturer, Pfizer evolved into a major pharmaceutical company through discoveries, large-scale manufacturing, acquisitions, and international expansion. Today it develops and commercializes prescription medicines and vaccines, with major businesses in oncology, vaccines, internal medicine, and inflammation/immunology. Its best-known modern products include Eliquis, Prevnar, Vyndaqel, Comirnaty, Ibrance, Paxlovid, Xtandi, Padcev, Nurtec/Vydura, and Xeljanz. Pfizer reported $62.6 billion in revenue in 2025 and operates a global manufacturing and commercial network serving approximately 200 countries and territories.[20]

1. History | Pfizer
2. pfe-20251231
3. Pfizer’s Purpose, Core Values, and Purpose Blueprint | Pfizer
4. In Celebrating 175 Years, Pfizer Challenges Itself to ‘Outdo Yesterday’ | Pfizer
5. Pfizer’s year in review | Pfizer 2025 Annual Report
6. Pfizer Inc. – Investor Relations – Financials – Annual Reports
7. Pfizer Inc. – Investor Relations – Financials – SEC Filings
8. EDGAR Filing Documents for 0000078003-26-000038
9. Pfizer Inc. – Investor Relations – Financials – SEC Filings – SEC Filings Details
10. EDGAR Filing Documents for 0000078003-26-000026
11. EDGAR Filing Documents for 0000078003-26-000026
12. Pfizer Inc. – Investor Relations – Financials – SEC Filings – SEC Filings Details
13. 175th Anniversary | Pfizer
14. Pfizer’s Core Values of Social Responsibility and Philanthropy | Pfizer
15. Pfizer Inc. – Investor Relations – Financials – Annual Reports
16. Pfizer Inc. – Investor Relations – Why Invest
17. Pfizer Global Overview | Pfizer China
18. Pfizer – WikiZero
19. 1. 1849年 – 1899年 | ファイザー社（米国本社）の歴史 | 会社案内 | ファイザー株式会社 | Pfizer Japan
20. About Us | Pfizer Egypt, Lebanon, and Iraq