Company Analysis - Pfizer
PowderMed: A golden opportunity for Pfizer
“More gold has been mined from the thoughts of men
than has been taken from the earth.”Napoleon Hill 1883-1970, American speaker and motivational writer
On October 9th 2006, global pharmaceutical company Pfizer announced that it was to expand its commitment to fight infectious diseases by entering into an agreement to acquire the private UK-based company PowderMed.
Founded in 1849, the New Yorker Pfizer, headed by CEO Jeffrey Kindler, employs over 100,000 staff and is a true multinational company, with operations spanning all continents of the world.
..Pfizer will enter the growing sector of DNA-based vaccines, via advancement of a proprietary technology of delivering 'DNA on gold'By acquiring PowderMed, which in contrast employs 40 members of staff, Pfizer will enter the growing sector of DNA-based vaccines, via advancement of a proprietary technology of delivering 'DNA on gold'. With a collection of early-stage candidates, PowderMed is a gleaming opportunity for Pfizer to expand its pipeline. As David Shedlarz, Vice Chairman of Pfizer stated "..we are adding high-potential, externally sourced product candidates and technologies to our research and development portfolio."
Set up by cousins Charles Pfizer and Charles Erhart, a chemist and confectioner, respectively, Pfizer began across the East River from its Manhattan headquarters today in the Williamsburg district of Brooklyn. By means of a goal of producing chemicals not then produced in the United States, Charles Pfizer & Company's first product was an almond-toffee-flavoured antiparasitic called santonin for the common mid-19th century affliction of intestinal worms.
Since the production of santonin 157 years ago, Pfizer has molded and matured into a worldwide pharmaceutical company. Via a series of successful acquisitions, including Warner-Lambert and Pharmacia, Pfizer has become a key player in the pharmaceutical industry. With revenue of US$51.3 billion in 2005, it has sizeable funds to achieve its motto of Working for a healthier world™.
