Pfizer is a pharmaceuticals and biotechnology company.
Pfizer Inc. is a global pharmaceutical firm based in New York City. It is one among the biggest pharmaceutical corporations in the world. Its shares are traded on the New York Stock Exchange and have been included in the Dow Jones Industrial Average since 2004. Pfizer was placed No. 57 on the 2018 Fortune 500 ranking of the biggest firms in the United States by total revenue.
Pfizer announced a combined merger of their consumer healthcare segment with UK pharma giant GlaxoSmithKline on December 19, 2018; the British corporation would retain a controlling stake (listed at 68%).
The firm develops and manufactures drugs and vaccines for a variety of medical specialties, including immunology, cancer, cardiology, endocrinology, and neurology.
In 2016, Pfizer Inc. was projected to combine with Allergan plc to become the Ireland-based “Pfizer plc” in a $160 billion merger. However, the merger was called off in April 2016 due to new US Treasury regulations prohibiting tax inversions, a way of evading taxes by combining with a foreign corporation. The corporation reached the second-largest pharmaceutical settlement with the US Department of Justice.
PFIZER INC. DETAILS:
- Operating Status: Active
- Business Type: Public
- Headquarters: New York City, New York, United States
- Founded Date:1849
- Organization CEO: Albert Bourla
- Founders: Charles Pfizer, Charles F. Erhart