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A history of Pfizer (1849 to 2015 )

Started in the 19th Century as a New York-based chemicals company, Pfizer has morphed into one of the titans of the healthcare industry. fastFT reviews the company’s history on the heels of its $150bn agreement to buy botox maker Allergan in the biggest-ever deal that will see it move its headquarters to Ireland.

1849:

Charles Pfizer and Charles Erhart, cousins, launch Charles Pfizer & Co. using $2,500 borrowed from Mr Pfizer’s father. The company’s first product was “a palatable form of santonin,” used to treat intestinal worms.

The company already grows roots in New York, utilising a warehouse in the Willamsburg portion of Brooklyn as an office, laboratory, factory and warehouse.

1880:

Pfizer begins making citric acid, and becomes the leading maker of the tart substance. Demand is boosted by new soft-drinks like Coca-Cola, Dr. Pepper and Pepsi-Cola.

1891:

Mr Erhart dies, and Mr Pfizer leverages an agreement that lets him consolidate ownership of the burgeoning company.

1900:

Pfizer incorporates in New Jersey. (more…)