Pfizer

Pfizer Inc. is a global pharmaceutical corporation and one of the world's premier innovative biopharmaceutical companies, headquartered in New York City. Founded in 1849 by German immigrants Charles Pfizer and Charles F. Erhart, Pfizer has evolved from a small chemical company producing citric acid and santonin into a pharmaceutical powerhouse that discovers, develops, manufactures, and distributes medicines and vaccines that have changed millions of lives. In 2024, the company celebrated its 175th anniversary, marking nearly two centuries of scientific innovation and breakthrough therapies.

Pfizer operates globally with a mission to deliver "Breakthroughs That Change Patients' Lives," guided by four core values: Courage, Excellence, Equity, and Joy. These values, established under Chairman and CEO Dr. Albert Bourla who assumed leadership in 2019, form the foundation of Pfizer's Purpose Blueprint and drive the company's culture of innovation. With over 88,000 employees worldwide working across research, development, manufacturing, and commercial operations, Pfizer maintains one of the industry's most robust pipelines, investing $10.8 billion in internal R&D in 2024 alone.

The company's 2024 financial performance demonstrated resilience and strategic transformation, with total revenues of $63.6 billion reflecting 7% year-over-year operational growth. Excluding COVID-19 products, Pfizer achieved 12% operational revenue growth, showcasing the strength of its diversified portfolio. Key revenue drivers include Eliquis (anticoagulant, $7.37B), the Prevnar vaccine family ($6.41B), Vyndaqel/Vyndamax for cardiomyopathy ($5.45B), and cancer therapy Ibrance ($4.37B). The transformative $43 billion acquisition of Seagen in late 2023 doubled Pfizer's oncology pipeline and established the company as a leader in antibody-drug conjugates (ADCs), with the legacy Seagen portfolio contributing $3.4 billion in 2024 revenue.

Pfizer's business model encompasses multiple therapeutic areas with strategic focus on oncology, infectious diseases, and cardiometabolic conditions. The company made organizational changes in 2024 to incorporate Seagen, creating the Pfizer Oncology Division alongside the U.S. Commercial Division and International Commercial Division within its Biopharma reportable segment. Pfizer's ambitious goal is to double the number of patients treated with its oncology medicines by 2030, supported by heavy investment in AI-driven drug development tools. The company received 14 FDA approvals in 2024, including expanded indications for hemophilia treatments, RSV vaccine approval for adults 18-59 at increased risk, and accelerated approval for BRAFTOVI in colorectal cancer.

Looking forward, Pfizer is executing a comprehensive cost realignment program expected to deliver $4.5 billion in net cost savings by the end of 2025, with most savings already realized by year-end 2024. The company projects 2025 revenues between $61-64 billion and plans to sufficiently de-lever its balance sheet to return to balanced capital allocation, including potential share repurchases and value-creating business development transactions. Recent strategic acquisitions include the $7 billion purchase of Metsera in November 2025, adding a promising GLP-1 and weight management portfolio, and a $1.25 billion licensing deal with 3SBio for a bispecific cancer antibody. With nine new pivotal Phase 3 trials planned for 2025 in oncology alone, Pfizer continues its heritage of scientific innovation while adapting to evolving healthcare needs and market dynamics.