Pfizer Inc. Details, Meaning Pfizer Inc. Article and Explanation Guide

Pfizer Inc. Guide, Meaning , Facts, Information and Description

Pfizer Inc. is a global pharmaceutical company, with headquarters in New York, New York, USA. It produces the number-one selling drug Lipitor® (atorvastatin, used to lower blood cholesterol); the oral antifungal medication Diflucan® (fluconazole), the long-acting antibiotic Zithromax® (azithromycin) and the well-known erectile dysfunction drug Viagra® (sildenafil citrate). Its shares, traded on the New York Stock Exchange, were made a component of the Dow Jones Industrial Average on April 8, 2004.

Table of contents

1 History
2 Medical discount programs
3 Bjork-Shiley heart valve
4 Patients' Rights Legislation
5 Research & Development
6 See also
7 External link

History

It is named after chemist Charles Pfizer (1824-1906), who launched his chemicals business from a building in Williamsburg, Brooklyn, in 1849. Here, he produced an antiparasitic called santonin. This was an immediate success, although it was the production of citric acid that really kick started Pfizer's growth in the 1880s.

By 1910, sales totalled nearly $3 million, and Pfizer became established as an expert in fermentation technology. These skills were applied to the mass production of penicillin during the Second World War, in response to an appeal from the US Government. The antiseptic was urgently needed to treat injured Allied soldiers, and it soon became known as "the miracle drug." In fact, most of the penicillin that went ashore with the troops on D-Day was made by Pfizer.

By the 1950s, Pfizer was established in Belgium, Brazil, Canada, Cuba, Mexico, Panama, Puerto Rico and the United Kingdom.

In 2000, Pfizer merged with Warner-Lambert in order to acquire Lipitor. Warner-Lambert was based in Morris Plains, New Jersey where their former headquarters has now become a major base of operations for Pfizer. The Morris Plains facility is mostly used for administrative purposes. Most of Pfizer's research is done in Groton, Connecticut and Sandwich, England.

In 2002, Pfizer merged with competitor Pharmacia.

Medical discount programs

Recently, Pfizer, the world's largest research based pharmaceutical company, announced a plan to help uninsured Americans pay for Pfizer's prescription drugs by offering steep discounts. Uninsured families earning under $4545,000 and uninsured singles making less than $3131,000 will save approximately 37% off the retail price. Uninsured families/people making more than $4545,000 and $31,000 respectivly, will save approximately 15%.