7 Companies Owned by Pfizer

Pfizer Inc. (PFE) is a worldwide biopharmaceutical firm engaged within the discovery, improvement, manufacture, and sale of medicines and vaccines. Its enterprise spans the next therapeutic areas: vaccines, oncology, inside drugs, hospital, irritation and immunology, and uncommon illness.

Pfizer posted internet revenue attributable to widespread shareholders of $22 billion on income of $81.3 billion in its 2021 fiscal yr (FY), which ended Dec. 31, 2021. The corporate’s market capitalization was $279.3 billion as of Aug. 9, 2022.

Pfizer traces its origins to 1849, when Charles Pfizer and Charles Erhart based Charles Pfizer & Co. in Brooklyn, New York. The corporate grew to become a publicly traded firm in 1942. In 1944, Pfizer succeeded in mass-producing penicillin, changing into the biggest producer worldwide of the primary antibiotic.

Extra lately, the corporate has been on the forefront of efforts to stem COVID-19. In August 2021 its COVID-19 vaccine was the primary to obtain full approval from the U.S. Meals and Drug Administration (FDA), following emergency use authorization (EUA) from the company in December 2020.

The vaccine, together with COVID-19 remedy Paxlovid, helped make Pfizer the world’s prime ranked drug firm by income in 2021.

Acquisitions have fueled a lot of the corporate’s development over the previous twenty years. Pfizer acquired Warner-Lambert in 2000 to achieve management of Lipitor, a blockbuster drug used to deal with excessive ldl cholesterol. Pharmaceutical corporations spend important quantities of cash to develop new medication. As soon as patented, these medication could allow corporations to reap outsized earnings as an unique producer for years earlier than rivals are allowed to develop and market generic options.

Pfizer’s acquisition technique within the early 2000s targeted on corporations with patented medication. Its deal for Warner-Lambert and the following buyout of Pharmacia in 2003 are two examples. However as healthcare prices continued to soar, the marketplace for cheaper generic medication confirmed sturdy potential for development. Consequently, Pfizer started concentrating on generic drugmakers with engaging drug pipelines, together with Hospira in 2015. Extra lately, the corporate has been bolstering its pipeline of most cancers remedies by buying a number of oncology-focused drug builders.

We glance intimately at seven of Pfizer’s main acquisitions beneath.

Warner-Lambert

• Kind of enterprise: prescribed drugs
• Acquisition value: $116 billion (accomplished)
• Acquisition date: June 20, 2000 (accomplished)

Warner-Lambert was shaped in 1955 when William R. Warner & Co. mixed with Lambert Pharmacal Co. The corporate subsequently expanded primarily by way of acquisitions—most notably the 1970 buy of Parke-Davis, as soon as the world’s largest drugmaker.

In 1996, Warner-Lambert and Pfizer entered right into a co-marketing settlement for Lipitor, an artificial lipid-lowering agent and the highest-selling drug on the planet. Lipitor was Pfizer’s principal motivation in its hostile takeover bid for Lipitor developer Warner-Lambert. Pfizer feared dropping its advertising deal for Lipitor, below which it obtained half of the earnings from gross sales of the drug. Warner-Lambert initially rejected the takeover bid, however after months of court docket battles agreed in February 2000 to be acquired by Pfizer. The deal closed in June 2000, making Pfizer the world’s second-largest and fastest-growing pharmaceutical firm.

Pharmacia

• Kind of enterprise: prescribed drugs
• Acquisition value: $60 billion (accomplished)
• Acquisition date: April 16, 2003 (accomplished)

Pharmacia was shaped in April 2000 by the merger between Pharmacia & Upjohn and Monsanto and its pharmaceutical unit, Searle. On the time of the merger, Searle had an settlement with Pfizer to co-promote Celebrex, a blockbuster arthritis drug the businesses developed collectively. Celebrex is a nonsteroidal anti-inflammatory drug used to briefly relieve ache and irritation.

Pharmacia accomplished the spinoff of its agricultural subsidiary Monsanto in August 2002. The month earlier than, in July 2002, Pfizer agreed to buy Pharmacia for $60 billion. The deal, finalized in April 2003, gave Pfizer full rights to Celebrex. It got here throughout a time when pharmaceutical corporations had been struggling to develop new medication, dealing with rising competitors from generic drugmakers, and pricing pressures from governments and personal consumers. The acquisition made Pfizer the highest pharmaceutical firm by income in each main market on the planet.

Wyeth

• Kind of enterprise: prescribed drugs
• Acquisition value: $68 billion (accomplished)
• Acquisition date: Oct. 15, 2009 (accomplished)

Wyeth began as John Wyeth and Brother, established in Philadelphia by John and Frank Wyeth in 1860. Within the late Nineteen Sixties the corporate’s Ovral was the main oral contraceptive in america. It has since been discontinued.

In January 2009 Pfizer agreed to buy Wyeth in a deal valued at $68 billion. One motive was to melt the blow from the anticipated loss in income as soon as the exclusivity interval connected to the Lipitor patent ended.

Buying Wyeth additionally augmented Pfizer’s portfolio by including two key medication: Prevnar, a vaccine for infants in opposition to pneumococcal illness; and Enbrel, an arthritis drug. The corporate considered vaccines and injectable biologic medicines as therapeutic areas much less susceptible to generic competitors.

Pfizer accomplished the acquisition of Wyeth in October 2009 following approval by U.S. and Canadian antitrust regulators.

Hospira

• Kind of enterprise: prescribed drugs and medical units
• Acquisition value: $16 billion (accomplished)
• Acquisition date: Sept. 3, 2015 (accomplished)

Hospira grew to become an unbiased, publicly traded firm in 2004 after a by-product from Abbott Laboratories (ABT). Over the subsequent decade, the corporate grew to become a frontrunner in creating and manufacturing biosimilars, medicines functionally just like costlier biotech medication.

Hospira’s biosimilars pipeline was key to Pfizer’s 2015 bid to buy the smaller rival. Pfizer had spent years specializing in buying corporations that manufactured pricey biotech medication shielded by patents. In the meantime, the brand new focus by governments and well being insurers on curbing hovering medical prices was anticipated to gas world demand for biosimilars. Hospira was additionally a number one supplier of injectable medication and infusion applied sciences.

Medivation

• Kind of enterprise: biopharmaceuticals
• Acquisition value: $14.3 billion (accomplished)
• Acquisition date: Sept. 28, 2016 (accomplished)

Medivation was based in 2003 by David Hung, and went public by way of a reverse merger with a shell firm in 2004. A reverse merger happens when a non-public firm purchases a publicly traded one and takes over its trade itemizing.

Medivation specialised in creating most cancers medication. The large prize for Pfizer in buying the corporate in 2016 was Xtandi, a drug for treating prostate most cancers. Xtandi was producing about $2 billion in annual gross sales for Medivation, and analysts had been predicting that these gross sales might double.

Medivation additionally had different oncology remedies below improvement. Pfizer anticipated these to learn from mixture with its analysis efforts, serving to the corporate to grow to be a frontrunner in oncology.

Array BioPharma

• Kind of enterprise: biopharmaceuticals
• Acquisition value: $11.2 billion (accomplished)
• Acquisition date: July 30, 2019 (accomplished)

Array BioPharma, an organization targeted on the invention and improvement of focused small molecule medication to deal with sufferers with most cancers and different illnesses, was based in 1998. The biopharmaceutical firm first started collaborating with Pfizer in 2017 on creating most cancers medication.

Two years later, Pfizer paid an enormous premium to amass Array BioPharma. The acquisition bolstered Pfizer’s increasing portfolio of most cancers remedies with Braftovi and Mektovi. The medication deal with metastatic melanoma and different cancers.

Trillium Therapeutics

• Kind of enterprise: biopharmaceuticals
• Acquisition value: $2.2 billion (accomplished)
• Acquisition date: Nov. 17, 2021 (accomplished)

Trillium Therapeutics, a scientific stage immuno-oncology firm that develops therapies for the remedy of most cancers, was launched in Canada in March 2004. In August 2021, Pfizer agreed to buy Trillium at a 118% premium to the inventory’s 60-day weighted common value. Pfizer closed the deal in November 2021.

Pfizer mentioned that the deal bolstered its pipeline of most cancers remedies. Trillium is at the moment creating two biologics, the molecules TTI-622 and TTI-621, to deal with blood, bone marrow, and lymph node cancers.