Pfizer. You've seen the name on everything from allergy pills to… well, the vaccine that changed the world. But how did a small chemical business, started by two German cousins in 1849, become one of the most recognized (and sometimes controversial) names in global health? Forget what you think you know about big pharma – this is a story of immigrant dreams, scientific breakthroughs, and a company that's constantly reinventing itself in the face of global challenges.
Imagine arriving in a new country with little more than a dream and a passion for chemistry. That was the reality for Charles Pfizer and Charles F. Erhart when they founded their company in Brooklyn, New York. Fast forward to today, and Pfizer's headquarters dominates the Manhattan skyline at The Spiral, a testament to their incredible journey. From pioneering treatments for parasitic diseases to leading the charge against a global pandemic, Pfizer's story is filled with unexpected twists and turns.
But what exactly does Pfizer do? Sure, they make medicines and vaccines – but what kind? We're talking about battling everything from cancer and heart disease to neurological disorders and infectious illnesses. And while the Pfizer–BioNTech COVID-19 vaccine grabbed headlines (and $11 billion in revenue in 2023 alone!), it's just one piece of a much larger puzzle. Bestsellers like apixaban, pneumococcal conjugate vaccine, palbociclib, and tafamidis rake in billions each year.
So, whether you're curious about the science, the business, or the ethical questions surrounding the pharmaceutical industry, Pfizer's story has something for everyone. Get ready to peel back the layers and discover the surprising truth behind this global giant. Let's explore the world of Pfizer!
The Origins of Pfizer: From Chemical Compounds to Pharmaceutical Giant (1849-1950)
Pfizer's story began in 1849 when it was founded as "Charles Pfizer & Company" by Charles Pfizer and Charles F. Erhart, two cousins who had immigrated to the United States from Ludwigsburg, Germany, driven by the desire to pursue their dreams. The business specialized in producing chemical compounds and was headquartered on Bartlett Street in Williamsburgh, New York, where they initially produced an antiparasitic called santonin. This product achieved immediate success, but it was the production of citric acid that would truly propel Pfizer's growth in the 1880s. To accommodate this growth, Pfizer consistently bought property in the area (by then the Williamsburg district of the city of Brooklyn, New York, and later the City of Greater New York) to expand its lab and factory, while retaining offices on Flushing Avenue until the 1960s. The Brooklyn plant eventually closed in 2009, marking the end of an era. Following their success with citric acid, Pfizer (at the now-demolished 295 Washington Avenue) and Erhart (at 280 Washington Avenue) established their main residences in the nearby Clinton Hill district, an area known for its concentration of Gilded Age wealth, reflecting their success in the company.
In 1881, Pfizer moved its administrative headquarters to 81 Maiden Lane in Manhattan, foreshadowing the company's expansion to Chicago, Illinois a year later and demonstrating its growing ambitions. By 1906, its sales had exceeded $3 million, marking an important financial achievement for the time.
World War I caused a shortage of calcium citrate, a crucial ingredient that Pfizer imported from Italy for the manufacture of citric acid. Due to the disruption in supply, the company began a search for an alternative, which they discovered in the form of a fungus capable of fermenting sugar to citric acid, reflecting its capacity to innovate. By 1919, the company was able to commercialize the production of citric acid from this source, giving the company an advantage in the market. The company subsequently developed significant expertise in fermentation technology as a result. These newfound skills were then applied to the deep-submergence mass production of penicillin, an antibiotic, during World War II in response to the urgent need to treat injured Allied soldiers, a critical contribution to the war effort. The company also embarked on a global soil collection program to improve production yields of penicillin, which ultimately resulted in 135,000 samples, further highlighting its commitment to innovation and its use of scientific exploration to enhance their results.
On June 2, 1942, the company incorporated under the Delaware General Corporation Law, officially marking a new period for the company's strategic and legal development.
Pfizer's Transformation: Antibiotics and Pharmaceutical Powerhouse (1950-1980)
Faced with price declines for penicillin, Pfizer strategically shifted its focus towards discovering new antibiotics with greater profit potential. This led to the discovery of oxytetracycline in 1950, a pivotal moment that transformed Pfizer from a manufacturer of fine chemicals into a research-based pharmaceutical company. Pfizer subsequently developed a drug discovery program focused on in vitro synthesis to complement its existing research in fermentation technology, reflecting its commitment to exploring new scientific methods. In 1959, the company established an animal health division, complete with a 700-acre (2.8 km2) farm and research facility in Terre Haute, Indiana, demonstrating its expansion into new areas of healthcare.
By the 1950s, Pfizer had already established a strong international presence with offices in Belgium, Brazil, Canada, Cuba, Mexico, Panama, Puerto Rico, and the United Kingdom, signaling its early ambitions for global expansion. In 1960, the company moved its medical research laboratory operations out of New York City to a new, more modern facility in Groton, Connecticut, consolidating its research efforts. In 1980, Pfizer launched Feldene (piroxicam), a prescription anti-inflammatory medication that became Pfizer's first product to reach $1 billion in revenue, marking a major commercial success for the company.
In 1965, John Powers, Jr. took over as chief executive officer of the company, succeeding John McKeen, and marking a transition in leadership.
However, as the area surrounding its Brooklyn, NY plant declined in the 1970s and 1980s, the company formed a public-private partnership with New York City. This collaboration encompassed the construction of low- and middle-income housing, the refurbishment of apartment buildings for the homeless, and the establishment of a charter school, demonstrating its commitment to community engagement and social responsibility.
In 1972, Edmund T. Pratt Jr. became chief executive officer of the company, succeeding John Powers, Jr., continuing the tradition of strong leadership at the company.
Pfizer's Blockbuster Era: The Rise of Viagra, Zoloft, and Lipitor (1980-2000)
The period from 1980 to 2000 marked a golden era for Pfizer, characterized by the development and launch of several blockbuster drugs that would transform the company and the pharmaceutical industry. In 1981, the company received approval for Diflucan (fluconazole), the first oral treatment for severe fungal infections, including candidiasis, blastomycosis, coccidioidomycosis, cryptococcosis, histoplasmosis, dermatophytosis, and pityriasis versicolor, demonstrating Pfizer’s ability to provide treatments for different types of diseases.
In 1986, Pfizer acquired the worldwide rights to Zithromax (azithromycin), a macrolide antibiotic recommended by the Infectious Disease Society of America as a first-line treatment for certain cases of community-acquired pneumonia, from Pliva, reflecting a strategy of acquiring valuable assets to boost its portfolio.
In 1989, Pfizer scientists Peter Dunn and Albert Wood created Viagra (sildenafil) for treating high blood pressure and angina, a chest pain associated with coronary artery disease. However, early trials for the medication revealed that it was ineffective for treating heart disease. Interestingly, volunteers in the clinical trials reported increased erections several days after taking the drug. This serendipitous discovery led to a shift in focus. It was patented in the United Kingdom as a heart medication in 1991, but the company later received a patent in the United States in 1996 and approval by the Food and Drug Administration in March 1998 to market it for erectile dysfunction, resulting in a huge commercial success. In December 1998, Pfizer hired Bob Dole as a spokesperson for the drug, further boosting its profile, showcasing its marketing power. The patents for Viagra expired in 2020.
In 1991, William C. Steere, Jr. became chief executive officer of the company, succeeding Edmund T. Pratt Jr., marking a new leadership at the company.
That same year, Pfizer also began marketing Zoloft (sertraline), an antidepressant of the selective serotonin reuptake inhibitor (SSRI) class developed nine years earlier by Pfizer chemists Kenneth Koe and Willard Welch. Sertraline is primarily prescribed for major depressive disorder in adult outpatients, as well as obsessive-compulsive disorder, panic disorder, and social anxiety disorder in both adults and children, demonstrating its use for multiple different problems. In 2005, the year before it became a generic drug, sales were over $3 billion, and over 100 million people had been treated with the drug, underscoring its massive impact on the treatment of mental health conditions. The patent for Zoloft expired in the summer of 2006.
In 1996, Eisai, in partnership with Pfizer, received approval from the Food and Drug Administration for donepezil under the brand Aricept for the treatment of Alzheimer's disease, providing relief for millions of people suffering with the disease. Pfizer also received approval for Norvasc (amlodipine), an antihypertensive drug of the dihydropyridine calcium channel blocker class that is used to reduce high blood pressure.
In 1997, the company entered into a co-marketing agreement with Warner–Lambert for Lipitor (atorvastatin), a statin for the treatment of hypercholesterolemia. Although atorvastatin was the fifth statin to be developed, clinical trials showed that atorvastatin caused a more dramatic reduction in low-density lipoprotein pattern C (LDL-C) than the other statin drugs. Upon its patent expiration in 2011, Lipitor was the best-selling drug ever, with approximately $125 billion in sales over 14.5 years, further highlighting the financial power and influence of the company.
Pfizer in the 2000s: Expansion through Acquisition and Navigating Setbacks
The 2000s marked a period of significant transformation for Pfizer, characterized by large-scale mergers and acquisitions alongside the challenges of drug development and market volatility. In 2001, Henry McKinnell became chief executive officer of the company, succeeding William C. Steere, Jr., starting a new leadership for the company.
In 2002, The Bill & Melinda Gates Foundation purchased stock in Pfizer, demonstrating a growing interest in the company from major philanthropic organizations.
In 2004, the company received approval for Lyrica (pregabalin), an anticonvulsant and anxiolytic medication used to treat epilepsy, neuropathic pain, fibromyalgia, restless leg syndrome, and generalized anxiety disorder, showing its growing portfolio of medication for different conditions. The United States patent on Lyrica was challenged by generic manufacturers and was upheld in 2014, extending the expiration date to 2018, which was a huge commercial win for the company.
However, in July 2006, Jeff Kindler was named chief executive officer of the company, replacing Henry McKinnell, marking another change in leadership.
On December 3, 2006, Pfizer ceased development of torcetrapib, a drug that increased production of HDL, which reduces LDL and was thought to be correlated to heart disease. During a Phase III clinical trial involving 15,000 patients, more deaths than expected occurred in the group that took the medicine, and the mortality rate of patients taking the combination of torcetrapib and Lipitor (82 deaths during the study) was 60% higher than those taking Lipitor alone (52 deaths during the study). While Lipitor alone was not implicated in the results, Pfizer lost nearly $1 billion developing the failed drug and its stock price dropped 11% on the day of the announcement, underscoring the inherent risks of pharmaceutical research and development.
Between 2007 and 2010, Pfizer spent $3.3 million on investigations and legal fees and recovered about $5.1 million, and had another $5 million of pending recoveries from civil lawsuits against makers of counterfeit prescription drugs. Pfizer hired customs and narcotics experts worldwide to track down fakes and assemble evidence that could be used to pursue civil suits for trademark infringement, demonstrating its efforts to protect its product and name in the market.
In July 2008, Pfizer announced 275 job cuts at its manufacturing facility in Portage, Michigan. Portage was previously the world headquarters of Upjohn Company, which had been acquired as part of Pharmacia, reflecting its focus on costs and efficiency.
Acquisitions and mergers
In June 2000, Pfizer acquired Warner-Lambert outright for $116 billion in one of the largest mergers in corporate history. To satisfy conditions imposed by antitrust regulators at the Federal Trade Commission, Pfizer sold off or transferred stakes in several minor products, including RID (a shampoo for treatment of head lice, sold to Bayer) and Warner-Lambert's antidepressant Celexa (which competes with Zoloft), further cementing the power of these government agencies. The acquisition created what was, at the time, the second-largest pharmaceutical company worldwide, marking its rise to prominence in the industry.
In 2003, Pfizer merged with Pharmacia, and in the process acquired Searle and SUGEN. Searle had developed Flagyl (metronidazole), a nitroimidazole antibiotic medication used particularly for anaerobic bacteria and protozoa, expanding its expertise in providing medication for all kinds of diseases. Searle also developed celecoxib (Celebrex), a COX-2 inhibitor and nonsteroidal anti-inflammatory drug (NSAID) used to treat the pain and inflammation in osteoarthritis, acute pain in adults, rheumatoid arthritis, ankylosing spondylitis, painful menstruation, and juvenile rheumatoid arthritis, which further showcase Pfizer's efforts to improve the quality of life for people with common conditions. SUGEN, a company focused on protein kinase inhibitors, had pioneered the use of ATP-mimetic small molecules to block signal transduction. The SUGEN facility was shut down in 2003 by Pfizer, with the loss of more than 300 jobs, and several programs were transferred to Pfizer, reflecting a move to streamline operations after the merger. These included sunitinib (Sutent), a cancer medication that was approved for human use by the FDA in January 2006. A related compound, SU11654 (Toceranib), was also approved for cancer in dogs, and the ALK inhibitor Crizotinib also grew out of a SUGEN program, highlighting the long-term impact of SUGEN's research even after the shutdown.
In October 2006, the company announced that it would acquire PowerMed, further expanding its reach and capabilities.
On October 15, 2009, Pfizer acquired Wyeth for $68 billion in cash and stock, including the assumption of debt, solidifying Pfizer's position as the largest pharmaceutical company in the world. The acquisition of Wyeth provided Pfizer with a pneumococcal conjugate vaccine, trademarked Prevnar 13, which is used for the prevention of invasive pneumococcal infections. The introduction of the original, 7-valent version of the vaccine, developed by Wyeth in February 2000, led to a 75% reduction in the incidence of invasive pneumococcal infections among children under age 5 in the United States. Pfizer introduced an improved version of the vaccine in 2010, for which it was granted a patent in India in 2017. Prevnar 13 provides coverage of 13 bacterial variants, expanding beyond the original 7-valent version. By 2012, the rate of invasive infections among children under age 5 had been reduced by an additional 50%, demonstrating the huge importance of these types of medications.
Pfizer in the 2010s: Navigating Innovation, Acquisition, and Shifting Focus
The 2010s marked a period of significant transformation for Pfizer, with further drug discoveries, strategic acquisitions, and a dynamic adaptation to the changing pharmaceutical landscape. In 2010, Ian Read was named chief executive officer of the company, beginning a new leadership era.
In February 2011, Pfizer announced the closure of its UK research and development facility (formerly also a manufacturing plant) in Sandwich, Kent, which at the time employed 2,400 people, reflecting a strategy of optimizing its global operations. However, in March 2011, Pfizer acquired King Pharmaceuticals for $3.6 billion in cash, gaining access to a portfolio that included emergency injectables such as the EpiPen, demonstrating its pursuit of new markets and products.
On September 4, 2012, the FDA approved bosutinib (Bosulif) for chronic myelogenous leukemia (CML), a rare type of leukemia and a blood and bone marrow disease that affects primarily older adults. In November 2012, Pfizer received approval from the Food and Drug Administration for Xeljanz, a tofacitinib, for rheumatoid arthritis and ulcerative colitis, further expanding its portfolio of medications. The drug generated sales of $1.77 billion in 2018, and in January 2019, it was the top drug in the United States for direct-to-consumer advertising, surpassing adalimumab (Humira), showing its commitment to reaching consumers directly. However, in 2023, the Institute for Clinical and Economic Review (ICER) identified Xeljanz (tofacitinib) as one of five high-expenditure drugs that experienced significant net price increases without new clinical evidence to justify the hikes. Specifically, Xeljanz's wholesale acquisition cost rose by 6%, leading to an additional $72 million in costs to U.S. payers, highlighting the ethical considerations in drug pricing.
On February 1, 2013, Zoetis, the Agriculture Division of Pfizer and later Pfizer Animal Health, became a public company via an initial public offering, raising $2.2 billion. Later in 2013, Pfizer completed the corporate spin-off of its remaining stake in Zoetis, demonstrating a shift towards focusing on human pharmaceuticals.
In September 2014, the company acquired Innopharma for $225 million, plus up to $135 million in milestone payments, in a deal that expanded Pfizer's range of generic and injectable drugs, further solidifying its portfolio.
On January 5, 2015, the company announced it would acquire a controlling interest in Redvax, expanding its vaccine portfolio targeting human cytomegalovirus, again highlighting its focus on preventing human diseases. In February 2015, the company received approval from the Food and Drug Administration for palbociclib (Ibrance) for the treatment of certain types of breast cancer. In March 2015, the company announced it would restart its collaboration with Eli Lilly and Company surrounding the Phase III trial of Tanezumab, reflecting the importance of forming collaboration to improve research and development. In May 2015, Pfizer and a Bar-Ilan University laboratory announced a partnership based on the development of medical DNA nanotechnology, demonstrating its commitment to investing in innovative technologies. In June 2015, the company acquired Nimenrix and Mencevax, meningococcal vaccines, from GlaxoSmithKline for around $130 million. In September 2015, Pfizer acquired Hospira for $17 billion, including the assumption of debt. Hospira was the largest producer of generic injectable pharmaceuticals in the world, which significantly expanded its generic drug production.
On November 23, 2015, Pfizer and Allergan announced a planned $160 billion merger, in what would have been the largest pharmaceutical deal ever and the third-largest corporate merger in history. The proposed transaction contemplated that the merged company would maintain Allergan's Republic of Ireland domicile, resulting in the new company being subject to corporation tax at the relatively low rate of 12.5%. The deal was structured as a reverse merger, whereby Allergan acquired Pfizer, with the new company then changing its name to "Pfizer, plc". However, on April 6, 2016, Pfizer and Allergan terminated the merger agreement after the Obama administration and the United States Department of the Treasury introduced new laws intended to limit corporate inversions (the extent to which companies could move their headquarters overseas in order to reduce the amount of taxes they pay), showing how the changing regulatory landscape could impact Pfizer’s plans.
In June 2016, the company acquired Anacor Pharmaceuticals for $5.2 billion, expanding its portfolio in both inflammation and immunology drugs areas, demonstrating its interest in finding new diseases to treat. In August 2016, the company made a $40 million bid for the assets of BIND Therapeutics, which was in bankruptcy. The same month, the company acquired Bamboo Therapeutics for $645 million, expanding its gene therapy offerings. In September 2016, the company acquired cancer drug-maker Medivation for $14 billion, indicating its focus on oncology. In October 2016, the company licensed the anti-CTLA4 monoclonal antibody, ONC-392, from OncoImmune. In November 2016, Pfizer funded a $3,435,600 study with the CDC Foundation to research "screen-and-treat" strategies for cryptococcal disease in Botswana. In December 2016, Pfizer acquired AstraZeneca's small-molecule antibiotics business for $1.575 billion.
In January 2018, Pfizer announced that it would end its work on research into treatments for Alzheimer's disease and Parkinsonism (a symptom of Parkinson's disease and other conditions), resulting in the loss of about 300 researcher jobs. This decision highlights the difficulties and risks associated with pharmaceutical research. In July 2018, the Food and Drug Administration approved enzalutamide, developed by Pfizer and Astellas Pharma, for patients with castration-resistant prostate cancer. In August 2018, Pfizer signed an agreement with BioNTech to conduct joint research and development activities regarding mRNA-based influenza vaccines, representing a major effort towards new vaccine technology.
In October 2018, effective January 1, 2019, Albert Bourla was promoted to chief executive officer, succeeding Ian Read, his mentor, demonstrating a new leadership at the company. In July 2019, the company acquired Therachon for up to $810 million, expanding its rare disease portfolio through Therachon's recombinant human fibroblast growth factor receptor 3 compound, aimed at treating conditions such as achondroplasia. Also in July, Pfizer acquired Array Biopharma for $10.6 billion, boosting its oncology pipeline, representing its commitment to different research areas. In August 2019, Pfizer merged its consumer health business with that of GlaxoSmithKline, into a joint venture owned 68% by GlaxoSmithKline and 32% by Pfizer, with plans to make it a public company. The transaction built on a 2018 transaction where GlaxoSmithKline acquired Novartis' stake in the GSK-Novartis consumer healthcare joint business. The transaction followed negotiations with other companies, including Reckitt Benckiser, Sanofi, Johnson & Johnson, and Procter & Gamble. In September 2019, Pfizer initiated a study with the CDC Foundation to investigate the tracking of healthcare-associated infections, scheduled to run through June 2023. In December 2019, Pfizer awarded the CDC Foundation a further $1,948,482 to continue its cryptococcal disease screening and treatment research in nine African countries, demonstrating its continued efforts in the fight against diseases.
Pfizer in the 2020s: The COVID-19 Pandemic and Vaccine Breakthrough
The 2020s began with an unprecedented global crisis: the COVID-19 pandemic, which would redefine the pharmaceutical industry and highlight the vital role of companies like Pfizer in addressing global health emergencies. In March 2020, Pfizer joined the COVID-19 Therapeutics Accelerator funding vehicle to expedite the development of treatments against COVID-19. This $125 million initiative was launched by the Bill & Melinda Gates Foundation in partnership with Mastercard and Wellcome Trust, with additional funding announced shortly after from the Chan Zuckerberg Initiative, UK Foreign, Commonwealth and Development Office, and Madonna, demonstrating a collaborative effort to combat the pandemic.
The following month, the Foundation for the National Institutes of Health announced the Accelerating COVID-19 Therapeutic Interventions and Vaccines (ACTIV) public-private partnership to develop a coordinated research strategy for prioritizing and speeding up the development of COVID-19 vaccines and pharmaceutical products. Pfizer joined the partnership as an industry "leadership organization" and participated as a collaborator in ACTIV-led clinical trials, showcasing its commitment to contributing to the common goal of solving the pandemic. CEO Albert Bourla attended the GAVI COVAX AMC 2021 Investment Opportunity Launch Event, also named One World Protected, on April 15, 2021, further showcasing the company's role in international efforts to improve access to vaccines.
In Canada, Pfizer endorsed the use of a vaccine passport mobile app developed by CANImmunize to record and track the status of COVID-19 vaccination, highlighting the company's support for measures designed to control the spread of the virus.
As the scale of the COVID-19 pandemic became apparent, Pfizer partnered with BioNTech to study and develop COVID-19 mRNA vaccine candidates, leading the research in vaccine technology. Unlike many of its competitors, Pfizer did not take initial research funds from the United States' Operation Warp Speed vaccine development program, instead choosing to invest roughly $2 billion of its own funds, demonstrating its commitment to independence and speed. Pfizer CEO Albert Bourla stated that he declined money from Operation Warp Speed to avoid government intervention, explaining later that "when you get money from someone that always comes with strings. They want to see how we are going to progress, what type of moves you are going to do. They want reports. And also, I wanted to keep Pfizer out of politics, by the way."
In May 2020, Pfizer began testing four different COVID-19 vaccine variations using lipid nanoparticle technology provided by Canadian biotechnology company Acuitas Therapeutics, showcasing international partnerships. Vaccines were injected into the first human participants in the U.S. in early May. In July 2020, Pfizer and BioNTech announced that two of the partners' four mRNA vaccine candidates had won fast-track designation from the FDA. The company began Phase II-III testing on 30,000 people in the last week of July 2020 and was slated to be paid $1.95 billion for 100 million doses of the vaccine by the US government. In September 2020, Pfizer and BioNTech announced that they had completed talks with the European Commission to provide an initial 200 million vaccine doses to the EU, with the option to supply another 100 million doses at a later date.
On November 9, 2020, Pfizer announced that BioNTech's COVID-19 vaccine, tested on 43,500 people, was found to be 90% effective at preventing symptomatic COVID-19. The efficacy was updated to 95% a week later. Akiko Iwasaki, an immunologist interviewed by The New York Times, described the efficacy figure as "really a spectacular number," underscoring the incredible success of the vaccine trials. The announcement made Pfizer and BioNTech the first companies to develop and test a working vaccine for COVID-19, marking a huge step forward in combating the pandemic.
Over the following month and a half, regulators in various countries approved Pfizer's vaccine for emergency use, signaling a new era for the world in defeating COVID-19.
Pfizer Under Scrutiny: Ethical Concerns and the Development of Paxlovid
Despite its success in developing and distributing the COVID-19 vaccine, Pfizer has also faced scrutiny and controversy regarding its business practices and the effectiveness of its treatments.
In February 2021, after a year-long investigation relying on unnamed officials, Pfizer was accused by The Bureau of Investigative Journalism (TBIJ) of employing "high-level bullying" against at least two Latin American countries during negotiations to acquire COVID-19 vaccines. These accusations included requesting that the countries put sovereign assets up as collateral for payments. According to TBIJ, these negotiation tactics resulted in a months-long delay in Pfizer reaching a vaccine agreement with one country and a complete failure to reach agreements with two other countries, including Argentina and Brazil, raising ethical questions about pharmaceutical companies operating in times of crisis.
In November 2021, TBMJ published an article after obtaining information from a whistleblower from the Ventavia Research Group, which was hired by Pfizer as a research subcontractor. A regional director (whistleblower) who was employed at Ventavia Research Group told The BMJ that the company falsified data, unblinded patients, employed inadequately trained vaccinators, and was slow to follow up on adverse events reported in Pfizer's pivotal phase III trial. The regional director, Brook Jackson, emailed a complaint to the US Food and Drug Administration (FDA). Ventavia fired her later the same day, raising questions about transparency and accountability in clinical trials. The European Medicines Agency (EMA) stated in a response to the European Parliament that "the deficiencies identified do not jeopardize the quality and integrity of the data from the main Comirnaty trial and have no impact on the benefit-risk assessment or on the conclusions on the safety, effectiveness, and quality of the vaccine." Science-Based Medicine emphasized that Ventavia oversaw just three of the 153 clinical sites involved with Pfizer's trial and "a small fraction (~1,000 by the time the whistleblower was fired) of the trial's over ~44,000 subjects," suggesting that the claims should be regarded with caution.
On 10 October 2022, during a session of the European Parliament's Special Committee on the COVID-19 Pandemic, Pfizer executive Janine Small testified that the company had not evaluated their COVID-19 vaccine for its ability to reduce transmission of the SARS-CoV-2 virus prior to its release to the general public. Dutch MEP Rob Roos described the admission as "scandalous," causing public outcry. While CEO Albert Bourla was slated to attend, he withdrew. It’s important to note that Roos' statements in turn have been described as "misleading" as the effectiveness of the vaccine had been determined through other metrics.
Development of oral antivirals
In November 2021, Pfizer launched a new COVID-19 oral antivirus treatment known as Paxlovid, demonstrating its commitment to create different treatments for the disease. In January 2022, the Pfizer CEO Albert Bourla confirmed that the trial results of a fourth dose were pending until March 2022. He also stated that the firm was setting up a collaboration to develop an anti-COVID pill treatment along with a French company, Novasep. He also said the COVID vaccine was "safe and efficient" for children, continuing its efforts to promote its COVID-19 vaccines. In May 2022, reports emerged of patients experiencing "rebound" symptoms after completing a five-day course of Paxlovid. The FDA responded by announcing they had performed additional analyses of the drug's clinical trial data and decided against changing its recommendations, which shows the commitment of these agencies in monitoring and analysing new medications. U.S. President Joe Biden and Dr. Anthony Fauci were both reported to experience this rebound syndrome in the months that followed, while continuing to recommend the drug for those who may benefit from it.
Conclusion
After following the journey of Pfizer, we can see that this isn't just the story of a pharmaceutical company; it’s a tale of scientific discovery, strategic prowess, and the complex ethical dilemmas that come with being a global healthcare leader. We've tracked its evolution from a small chemical business founded by two German immigrants, Charles Pfizer and Charles F. Erhart, to a global powerhouse, and we can see how the impact of key leaders such as Albert Bourla, Ian Read and William C. Steere, Jr. shaped its trajectory.
We've witnessed the company's pivotal role in battling diseases, from the early production of santonin and citric acid to the mass production of penicillin during World War II. The development of blockbuster drugs like Viagra, Zoloft, and Lipitor showcases its commitment to innovation, as well as the potential rewards (and risks) in pharmaceutical research. The ethical consideration with the pricing of Xeljanz, the high-expenditure drug that increased dramatically in price.
The strategic acquisitions of Warner-Lambert, Pharmacia, and Wyeth, have demonstrated its ability to adapt and expand. Pfizer’s response to the COVID-19 pandemic with the development of a mRNA vaccine, in partnership with BioNTech, has undoubtedly demonstrated its position as a key player in the world's health, and a leader in its industry, but also highlights its role as a world leader in the pharmaceutical industry.
The controversies surrounding the COVID-19 vaccine, questions about transparency in clinical trials highlighted by The Bureau of Investigative Journalism’s (TBIJ) accusations, and the "rebound" effects of Paxlovid serve as reminders of the complexities and challenges inherent in the pharmaceutical industry.
Pfizer's story is a complex one, filled with both remarkable achievements and difficult questions. It's a narrative that challenges us to consider the balance between innovation, access, and ethical responsibility in the world of healthcare. Whether looking at the company's strategic growth or its scientific contributions to society, it is impossible to ignore the success of this business.