cts, and occasionally uses distributors in smaller markets. Consumer Healthcare products are sold through various channels, including distributors, pharmacies, retail chains, and grocery and convenience stores. Customers During 2015, the company’s three major biopharmaceutical wholesalers in the U.S. were McKesson, Inc.; Cardinal Health, Inc.; and AmerisourceBergen Corporation, which accounted for 30%, 20%, and 23% of the company’s total revenues, respectively. Sales to these wholesalers were concentrated in the biopharmaceutical businesses. Acquisitions In April 2015, the company acquired a minority equity interest in AM-Pharma B.V., a privately-held Dutch biopharmaceutical company focused on the development of recombinant human Alkaline Phosphatase (recAP) for inflammatory diseases, and secured an exclusive option to acquire the remaining equity in the company. Agreements In 2014, the company has a global arrangement with Cellectis SA to develop Chimeric Antigen Receptor T-cell immunotherapies in the field of oncology directed at select cellular surface antigen targets. In 2012, the company entered into an agreement with AstraZeneca PLC for the exclusive, global, OTC rights for Nexium, a prescription drug approved to treat the symptoms of gastroesophageal reflux disease. In 2013, the company entered into a collaboration agreement with Eli Lilly & Company to jointly develop and commercialize Pfizer’s tanezumab worldwide. In 2014, the company entered into a collaborative agreement with OPKO Health, Inc. (OPKO) to develop and commercialize OPKO’s long-acting human growth hormone for the treatment of growth hormone deficiency in adults and children, as well as for the treatment of growth failure in children born small for gestational age who fail to show catch-up growth by two years of age. In 2014, the company entered into a collaborative arrangement with Merck KGaA, to jointly develop and commercialize avelumab, the proposed international non-proprietary name for the investigational anti-PD-L1 antibody (MSB0010718C), in development as a potential treatment for multiple types of cancer. Research and Development For the year ended December 31, 2015, the company’s research and development expenses included $7.7 billion. Government Regulation The company’s products are subject to post-market surveillance under the U.S. Federal Food, Drug and Cosmetic Act and its implementing regulations with respect to drugs, as well as the Public Health Service Act and its implementing regulations with respect to biologics. The U.S. Food and Drug Administration also regulates its Consumer Healthcare products. In the EU, the European Medicines Agency regulates the scientific evaluation, supervision and safety monitoring of the company’s products. Other U.S. federal agencies, including the U.S. Drug Enforcement Administration, also regulate certain of the company’s products. Majority of its activities also are subject to the jurisdiction of the Securities and Exchange Commission. History Pfizer Inc. was founded in 1849. The company was incorporated under the laws of the state of Delaware in 1942.
pfizer inc (PFE:SIX Swiss Ex)
235 East 42nd Street
New York, NY 10017
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