Pfizer stands 4th in the list of top 10 pharmaceutical companies of USA.
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The company was founded in 1849 by Charles Pfizer and Charles F Erhart, who were both cousins. Pfizer, which is a global name in pharma industry, is headquartered in New York City, and currently, Ian Read serves as the Chairman and CEO of the company.
An expected merger of Pfizer with Allergen plc in was called off in 2016 because of new regulatory rules of United States Treasury. As of 2015, a total 0f 78,300 people work for the company. The company is known for its diversity of employees.
In 2009, the company was found guilty of illegal marketing of Bextra - an arthritis drug. For this it was slapped a fine of $ 2.3 billion. Pfizer produces pharmaceutical product as well as Consumer healthcare products. The majority of the company's revenue comes from biopharmaceutical products. In 2015, Pfizer acquired Hospira, Inc.
The company had a revenue of $ 48851 million in 2015. The revenues saw a decline of 2% as compared to 2014. Its total profits were $ 6960 million. The market capitalization of the company was at $ 202660 million. Pfizer is working in collaboration with Merck & Co. to develop an effective medicine for the treatment of type 2 diabetes. Recently Pfizer announced success in their phase 3 study of the medicine.