Pfizer Inc. is a reputable drug-producing corporation which ranks among the largest pharma firms in the world, having a New York corporation headquarters and a Groton, Connecticut, research one.
Let’s look at some facts presenting its historic background.
In 1849, Charles Pfizer & Company was established by cousins C. Erhart and C.Pfizer. It was located in Brooklyn, NY.
In the 1st half of the 20th century, the firm enjoyed prosperity due to producing citric acid by the advanced technology based on applying mold fermentation to sugar, which provided company’s long-term growth.
From 1950 till 1999 the firm was conducting profound research of new medicaments. It managed to achieve noticeable success in the pharmaceutical field.
1998 saw a remarkable step forward with the company’s research of sildenafil citrate’s properties. It was a real breakthrough in treating the male erectile disorder. Pfizer’s funding of the research project amounted to $3.3 bln.

Company’s medicaments

Pfizer is famous for developing and researching vaccines and medicaments for a variety of medical fields, in particular, neurology, immunology, cardiology, and andrology.
Setting price of medicaments
The firm price policy is sensible and well-reasoned. The following factors are taken into consideration:
1) medicine’s impact on a patient;
2) medicaments capability to affect a disease;
3) other treatments available;
4) medicament capability to decrease other costs associated with health care;
5) affordability.
Insurers’, physicians’ and patient groups’ feedbacks are thoroughly analyzed by the company’s staff when they make a decision on the price. For example, 120 oncologists and 80 of payers were consulted when the firm was setting a newly developed cancer medicaments price.
Pfizer employees talk to insurers who make a decision on their policyholders’ payment for medicaments. They also provide assistance to low-income patients through loyalty programs. Thus, due to doubling the level of allowable income to participate in their program more patients are now eligible to get Pfizer medicaments for free.

Pfizer and generics

When Pfizer medicaments’ generics appear on the pharma market, the firm continues monitoring their safety, reliability, and quality. Moreover, the corporation keeps on investing in manufacturing, which may be rather sophisticated for some types of medicaments.

Company’s attitude towards medical counterfeits

The situation with counterfeit medicaments remains to be tense even in those countries, which are traditionally considered safe in this respect, namely the USA, Canada and some EU states. Counterfeits of popular medicines enter the legal supply chain and Pfizer medicaments are not exceptions. Thus, in 2013 about 11.8mln capsules and tablets of counterfeit medicines with Pfizer label were detected in 49 countries.
To find a viable solution to this problem the corporation closely cooperates with institutions and organizations responsible for the pharma market safety, as well as with pharmacies, wholesalers, law enforcement bodies and customs officers.

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