2003:Pfizer and Pharmacia Merger
Pfizer Inc and Pharmacia Corporation began operating as a unified company on April 16, 2003, forging one of the world's fastest-growing and most valuable companies. With a research and development budget of $7.1 billion in 2003, the new Pfizer is now the world's leading research-based pharmaceutical company.
"Today we go forward as a single company, providing more products to help more patients than any other pharmaceutical company has ever done before," said Pfizer Chairman and Chief Executive Officer Hank McKinnell. "On any given day, we estimate that nearly 40 million people around the world are treated with a Pfizer medicine. Our new company is the global leader in discovering, developing and delivering innovative medicines and health care solutions essential to improving global public health and addressing unmet medical needs."
Pharmacia Corporation: A History
The roots of Pharmacia Corporation date back over 150 years to 1837 when a leading Italian pharmacist, Carlo Erba, started his own company, which later became Farmitalia Carlo Erba. This company would later unite with Kabi Pharmacia, which began in 1951. These two companies, along with Pharmacia Aktiebolaget, formed the three main points of origin for Pharmacia AB, which was established in Sweden in 1911.
In the United States, Pharmacia traces its roots back to 1886. It was then that W.E. Upjohn, M.D., established The Upjohn Pill and Granule Company of Kalamazoo, Michigan, (USA). The company continued its growth throughout the 19th century, eventually evolving into an innovative, international company. Two years later, the Searle and Hereth Co. was formed by a young druggist named Gideon Daniel Searle, as an innovative company developing many "firsts." These firsts include the first bulk laxative, the first motion sickness drug, the first oral contraceptive, the first once-a-day calcium channel blocker for the treatment of hypertension, and many other innovative products. Likewise, Searle discovered and introduced aspartame, a hugely successful sugar substitute. The Searle and Hereth Co. was incorporated in 1908 as G.D. Searle and Co. in Chicago, and in 1985, became the pharmaceutical unit of Monsanto.
In 1995, Pharmacia & Upjohn was formed through the merger of Pharmacia AB and The Upjohn Company. Pharmacia & Upjohn became a global provider of human health care products, animal health products, diagnostics and specialty products. In 1998, Pharmacia & Upjohn relocated its global headquarters from the United Kingdom to the United States.
In April 2000, Pharmacia & Upjohn completed a merger with Monsanto and Searle creating Pharmacia, a dynamic new competitor in the pharmaceutical industry. This top-tier company's innovative medicines and other products saved the lives of many and enhanced health and wellness. Following the merger, Pharmacia continued Searle's agreement with Pfizer to co-promote Celebrex, which was originally co-developed by Searle and Pfizer.
In August 2002, Pharmacia completed the spin-off of its agricultural subsidiary, Monsanto Company.