Pfizer's rise to success and how to maintain it.

Essay by johnnybu243University, Bachelor'sA+, March 2004

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Pfizer is a pharmaceutical company that produces various medicines and is in the business of making sick people feel better. Their mission and purpose is to become the worlds most valued company and they dedicate themselves to "humanity's quest for longer, healthier, and happier lives." The Pfizer Company came into existence in 1849, when two young entrepreneurs from Germany named Charles Pfizer and Charles Erhart borrowed $2,500 from Pfizer's father. They purchased a building on Bartlett and Tompkins Street in the Williamsburg section of Brooklyn. They started their business with the concept to make chemicals that at that time were not produced within the United States. The first product they ever produced was called Santonin. It was used to treat intestinal worms, which was common during the mid-19th century. The major problem with Santonin was that it was so bitter, no one wanted to take it. Pfizer handled this problem by blending Santonin with an almond toffee flavoring.

This innovation led to a huge increase in demand and soon raw materials from around the world were pouring in and dozens of chemicals were pouring out. By 1897, they established an office on Beekman Street in what was the heart of Manhattan's drug and chemical district.

The Pfizer Company has had much success by being able to capitalize on what was going on in the world. For example, during the Civil War the demand for painkillers and disinfectants went sky high and Pfizer was able to expand production on drugs such as Iodine and Morphine to help the union doctors treat the injured union soldiers. Quality, innovation, and customer focus is what characterized Pfizer during its early days and would be huge assets as the company moved into the 20th century and into an increasingly competitive marketplace.

As the...