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Home > Drug Companies > Pfizer: Leading the Way
Pfizer: Leading the Way
Pfizer was founded in 1849 by two young cousins, Charles Pfizer and Charles Erhart. They came from Germany and purchased a building in Brooklyn, New York. At the beginning, their mission was to produce chemicals not made in the United States. The first Pfizer product was santonin. It was used to treat intestinal worms. As Pfizer prospered, these cousins bought 72 more acres in Manhattan. On 1862, Pfizer expanded the production of chemicals. Many people were infected and sick as a response of the Civil War. This company took this situation as a competitive advantage for the business. In 1880, Pfizer became the biggest producer of citric acid. Companies such as Coca-Cola, Dr. Pepper, and Pepsi increased the demand of this product.
Since its foundation, Pfizer has been a leader in the pharmaceutical industry in the entire world. In fact, in the year 2000, the company acquired Warner-Lambert, which is a worldwide company that produces and markets consumer health products. However, its desire to be the number one in the world was not enough, and in 2003, Pfizer purchased Pharmacia Corporation.
Pfizer revolutionized the world in 1996 by launching Viagra; this company changed the opinion of many people around the world. This product changed the life style of many persons. Erectile-dysfunction’s problem was a taboo topic in many countries. However, this company has a lot of “start products”. Pfizer invests millions of dollar in research and development programs. In 2003, more than $7.1 billion were assigned in research and development. Today, this company is the most powerful pharmaceutical company of the world. In fact, in 2004 Pfizer was select by Dow Jones and Co. to be part of the Dow Jones Industrial Average, the best stock market indicator in the world.
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