Since its founding in 1849, Pfizer, Inc. has seen remarkable success mixed with a number of missteps and, in 2009, plead guilty to the largest health care fraud in United States history. Its first major success in U.S. came in 1980 with the release of its prescription anti-inflammatory medication Feldene. What followed was the company’s largest period of growth, with the release of such medications as Zoloft, Lipitor, and Viagra.
Thanks to mergers and acquisitions over the years, many led by President and Chief Executive Officer Adam Read, Pfizer is now comprised of four divisions: Human Health, Consumer Healthcare, Animal Health, and Corporate Groups. Through these four divisions, Pfizer stays on top of the pharmaceutical game with a constant stream of innovative research. It has been critical of policies the drug price freezes in Europe, saying that innovation cannot occur without the revenue the drugs’ high prices produce.
However, even with the price freezes, Pfizer’s profit earnings continue to rise, earning $3.74 billion in the third quarter of 2011.