Pfizer Inc. is the world’s second largest pharmaceutical company in terms of prescription sales revenue. The New York City-based company generated almost 53 billion U.S. dollars of total revenue in 2016. Based on net income, Pfizer is also at the top globally. As of November 2016, Pfizer had a market value around 155 billion U.S. dollars.
Pfizer manufactures some of the best-selling pharmaceutical products worldwide. Lipitor was Pfizer’s top drug for many years, but lost its patent in May 2012. Thus, Lipitor’s revenue decreased from around 10 billion U.S. dollars in 2011 to some 1.8 billion U.S. dollars in 2016. Other well-known drugs produced by Pfizer are Lyrica, Enbrel and Viagra. Until 2013, the company also has a notable animal health product line. Pfizer generates around half of its revenue within the United States.
As is common practice in the pharmaceutical industry, Pfizer spends a substantial part of its revenue on research and development. In 2016, the company’s R&D expenditure stood at some 7.9 billion U.S. dollars, or around 15 percent of its total revenue. With some 97 thousand employees in 2016, Pfizer is also a significant employer all over the world.
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