Essay by Teressa15University, Bachelor'sA+, April 2004

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Pfizer Inc. is a research-based diversified health care company with operations around the globe. Pfizer Inc. has three main business groups. They include the Consumer Health Care Group, U.S. Pharmaceuticals Group, and the Pfizer Animal Health Products Segment. Pfizer Inc. discovers, develops, manufactures, and markets leading prescription medicines for humans and animals and many of the world's best-known consumer brands.

Pfizer was first started by Charles Pfizer and Charles Erhart in 1849. The two German entrepreneurs borrowed $2,500 to start a chemical plant in the United States. They wanted to produce chemicals that were unavailable in the United States. In 1862 because of the Civil War painkillers were needed. This was the first time Pfizer produced morphine as well as other drugs. Doctors and soldiers in the civil war were grateful for Pfizer's developments of pain killers. Because of the Civil War Pfizer's revenues doubled. This allowed for expansion. In 1880 because of the importation of lemon and limes, Pfizer became the largest producer of citric acid.

Citric acid was used in many things such as food, drinks, as well as medications. In 1891 cofounder Charles Erhart left his share to his son William. Charles Pfizer offered to buy his share from him and William agreed. From 1892 and on the company belonged to just Charles Pfizer. The 1900's was a growing time for Pfizer. As many more cures were found, such as Penicillin which was discovered in 1928, Pfizer was able to grow very large. When Alexander Fleming discovered penicillin Pfizer offered to help back it up. Pfizer became extremely profitable from penicillin because it was known as the "wonder drug." Pfizer and penicillin were very popular during World War II. Many soldiers were treated with penicillin produced by Pfizer. In 1950 Terramycin, used to treat bacterial infections, was...