Pfizer Inc. (PFE) is an American multinational pharmaceutical corporation, one of the world's largest pharmaceutical companies ranked 57 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. The company produces a wide range of medicines and vaccines for a variety of medical disciplines including immunology, oncology, cardiology, endocrinology, and neurology.
Established in 1849 by Charles Pfizer and Charles F. Erhart in Brooklyn, New York, Pfizer has been committed to discovering new ways to improve and extend people's lives. The company is globally renowned for its products and drugs, including pain relief drugs like Advil and Lyrica, psychotropic drugs like Xanax and Zoloft, and most importantly, the performance drug, Viagra.
The success of Pfizer is rooted in its commitment to revolutionize biopharmaceutical science. The company spearheaded the global battle against various diseases with innovation at the forefront. For instance, it developed the first commercially available antibiotic, penicillin, which dramatically reduced death rates during World War II.
Pfizer's drug discovery ethos revolves around creating therapies that significantly improve patients' lives. It has also been committed to making these drugs available and affordable for as many people as possible. Pfizer's commitment extends to more than just manufacturing and developing drugs. They also place a strong emphasis on disease awareness and prevention—providing information and resources to consumers to help them stay healthy.
In late 2020, Pfizer made global headlines with its announcement of a COVID-19 vaccine, developed in tandem with BioNTech, showing about 95% efficacy, serving as a major step towards ending the global pandemic.
Today, Pfizer Inc. continues to be a healthcare leader around the globe. Headquartered in Manhattan, New York City, it operates in over 150 countries, and its products are available in more than 180 countries. It boasts the features of an efficient supply chain, allowing medicines and vaccines to reach patients around the world. Pfizer truly embodies the spirit of innovation, with a future-oriented mindset, directed towards solving some of the most significant health challenges of our time.
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Moderna's stock surged 5% ahead of its earnings report, extending a 685% year-to-date rally, despite being unprofitable with a small revenue base. Pfizer's shares eased 0.8% despite exceeding revenue estimates and raising its full-year guidance, as declining COVID-19 product sales were offset by other drug increases. Merck's stock dropped 2% following the launch of a new Phase 3 trial for Ohtuvayre to prevent COPD exacerbations, even though the company is up 40% year-to-date.
Moderna's stock surged 5% ahead of its earnings report, extending a significant year-to-date rally. Meanwhile, Pfizer eased despite raising its full-year outlook and beating revenue estimates, influenced by declining COVID product sales. Merck's shares fell 2% even after the company initiated a new Phase 3 trial for COPD prevention.