Pfizer Inc. is an American pharmaceutical corporation headquartered in New York City, with its research headquarters in Groton, Connecticut. It is among the world's largest pharmaceutical companies. It is listed on the New York Stock Exchange, and its shares have been a component of the Dow Jones Industrial Average since 2004.
Pfizer develops and produces medicines and vaccines for a wide range of medical disciplines, including immunology, oncology, cardiology, diabetology/endocrinology, and neurology. Its products include the blockbuster drug Lipitor (atorvastatin), used to lower LDL blood cholesterol; Lyrica (pregabalin) for neuropathic pain/fibromyalgia; Diflucan (fluconazole), an oral antifungal medication; Zithromax (azithromycin), an antibiotic; Viagra (sildenafil) for erectile dysfunction; and Celebrex/Celebra (celecoxib), an anti-inflammatory drug.
Pfizer was founded in 1849 by cousins Charles Pfizer and Charles F. Erhart in New York City as a manufacturer of fine chemicals. Its discovery of Terramycin (oxytetracycline) in 1950 put it on a path towards becoming a research-based pharmaceutical company. It has made numerous acquisitions, including Warner–Lambert in 2000, Pharmacia in 2003, and Wyeth in 2009 (the largest of the three at $68 billion).
In 2016, Pfizer Inc. was expected to merge with Allergan plc, in a deal that would have been worth $160 billion, to create the Ireland-based "Pfizer plc". The merger was called off in April 2016 due to recent new rules from the United States Treasury against inversions.
Pfizer is named after German-American Charles Pfizer who co-founded the company with his cousin Charles F. Erhart. Originally from Ludwigsburg, Germany, they launched a chemicals business, Charles Pfizer and Company, from a building at the intersection of Harrison Avenue and Bartlett Street in Williamsburg, Brooklyn, in 1849. There, they 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. Pfizer continued to buy property to expand its lab and factory on the block bounded by Bartlett Street; Harrison Avenue; Gerry Street; and Flushing Avenue. Pfizer's original administrative headquarters was at 81 Maiden Lane in Manhattan.
Pfizer is organised into nine principal operating divisions: Primary Care, Specialty Care, Oncology, Emerging Markets, Established Products, Consumer Healthcare, Nutrition, Animal Health, and Capsugel.