Pfizer Net Worth
Pfizer net worth: Pfizer is an American pharmaceutical company that has a market cap of $210 billion. Pfizer began as a joint venture between two German-American relatives, Charles Pfizer and Charles Erhart. The two men, cousins, launched a lab and business in Williamsburg, Brooklyn in the mid-1840s, in which they produced santonin, an antiparasitic. They then expanded into producing citric acid, and suddenly, they were off and running. They expanded their facilities multiple times over the course of the next fifty years, and by the turn of the century, the company was making a multi-million dollar profit. Their production of penicillin during World War II, based on their own fermentation process, cemented them as the most widely used pharmaceutical company. In the 1950s, Pfizer shifted its focus to research and development and has remained focused on these goals since. They have developed such drugs as Terramycin (antibiotic) Feldene (anti-inflammatory), Zoloft (antidepressant), Lipitor (lowers cholesterol), Diflucan (antifungal), and Viagra (erectile dysfunction), among many others. The company now distributes pharmaceuticals around the world, and various Pfizer products can be found in Belgium, Brazil, the UK, Canada, Iran, and Mexico, among a large number of other countries. The company currently employs 103,700 people, and still carried out a portion of research at its Brooklyn lab until 2005. The administrative offices are in Manhattan, and the primary lab has been located in Groton, Connecticut since 1960.