|Net Worth:||$210 Billion|
What is Pfizer’s net worth? How does Pfizer make its money? Below is the current net worth of Pfizer and how Pfizer makes its money.
What Is Pfizer’s Net Worth?
Pfizer Inc. is an American global ergonomics and pharmaceutical company that has a net worth of $210 billion. Its headquarters is located in Manhattan, New York City. It is regarded as one of the largest and leading biopharmaceutical businesses worldwide.
History of Pfizer
Charles Pfizer and Charles F. Erhart established the Pfizer company in 1849; its initial production was in chemical compounds and its headquarters was in Williamsburgh, New York. Their first product was an antihelminthic drug, Santonin. The production of citric acid ultimately boosted the growth of the Pfizer company, from the 1880s.
They then started large-scale production of antibiotics like penicillin during the world war II period, for the treatment of wounded soldiers. From 1950-1980, they continued to engage in the production of antibiotics and sponsored numerous research programs to discover more drugs. They also provided a laboratory to conduct experiments on newly discovered drugs.
The company grew rapidly and established branches in other countries such as Belgium, Brazil, Mexico, etc.
Over the years, the Pfizer company has produced a large number of drugs for different medical issues including antiparasitics, anti-depressants, antibiotics, etc. They have manufactured drugs like Piroxicam, Fluconazole, Azithromycin, Viagra, Donepezil, Atorvastatin, etc.
The Pfizer company has faced litigation cases over various allegations. During the early 2000s, they were accused of illegal marketing of gabapentin for off-label uses and in 2004, they paid heavily for settlements. It is noted that this was one of their biggest settlements to assuage criminal charges. Five years later, they again pled guilty to the charge of illegal marketing of Bextra, for which they paid a $2.3 billion fine.
Other cases include illegal marketing of Rapamune, aggressive pharmaceutical marketing, removal of ads after unflattering articles, and so on.
Revenue and rankings
The Pfizer company has numerous medicines that record huge sales and bring in yearly revenues worth over $1 billion. China, the US, Japan, and other countries each contribute to the revenues, with the US bearing the highest percentage.
From 2004 to 2020, Dow Jones Industrial Average Stock Market Index listed Pfizer company as one of its top 30 businesses. Forbes Global 2000 lists Pfizer as its 49th and Fortune 500 ranks, Pfizer, as the 64th.
The biopharmaceutical company has bought and merged with a number of companies over the years. Some of Pfizer’s subsidiaries include:
- ReViral Ltd.
- King Pharmaceuticals
- Pfizer Foundation
- Pfizer Ventures Ltd.
- Therachon AG
- Genetics Institute
- Arixa Pharmaceuticals Inc.
- Agouron Pharmaceuticals Inc.
- CovX Research LLC.
- Amplyx Pharmaceuticals Inc., etc.
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