Pharmaceuticals, health care and animal health care products manufacturer
The Company's major divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health. Bought by Pfizer in 2009 for US$68 billion.
| Pfizer Inc
owns 100% of Wyeth Corporation
Wyeth has been criticised for marketing breastmilk substitute to women in third world countries despite being banned from this by the World Health Organisation.
Source: Babymilk Action (2012)
This company appeared ninth on RepRisk's top ten "most environmentally and socially controversial companies of 2012". Companies on the list were severely criticised during 2012 by the world's media, governments and NGOs. Criticisms of Wyeth include multiple lawsuits over its pharmaceutical products, illicit payments to medical practitioners, bribery and anti-competitive practices. [Listed under Information due to age of report]
Source: RepRisk (2013)
As well as their irresponsible marketing and selling of baby milk formula, Wyeth also manufactures the benzodiazepine tranquilliser, Ativan and is one of the companies which has been criticised for not warning doctors of it's possible addictiveness, and therefore of the need to prescribe it for short periods only. (Noted here as 'additional information only' due to age of report).
Source: McSpotlight (1992)
In 2019, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change Score of B.
Source: CDP (2019)
In 2019, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to manage and govern freshwater resources. Responding companies are scored on six key metrics: transparency; governance & strategy; measuring & monitoring; risk assessment; targets & goals; and value chain engagement. This company received a CDP Water Security Score of B.
Source: CDP (2019)
This company is listed as having best practice on a report card on lesbian, gay, bisexual and transgender equality in corporate America.
Source: Human Rights Campaign (2020)
This company appears on Global Exchange's list of "Most Wanted" Corporate Human Rights Violators (Alums) for killer price-gouging.
Source: Global Exchange (2017)
As You Sow's 2019 report, Mining the Disclosures, is a deep analysis of 215 companies' human rights performance in relation to sourcing conflict minerals from the Democratic Republic of the Congo (DRC). This company's score was 1.7% (Weak).
Source: As You Sow (2019)
In 2015 Pfizer experimented on thousands of animals in its own laboratories and many more in experiments in contract testing laboratories.
Source: PETA (2015)
This company appears on PETA's (People for the Ethical Treatment of Animals, USA) 'Companies That Do Test On Animals' list, signifying that they manufacture products that are tested on animals at some stage of development.
Source: PETA (2020)
This company received a score of 38.3/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
Source: Newsweek (2017)
This company received a score of 11.2/100 (retrieved 10-Oct-2020) in the Corporate Information Transparency Index (CITI), a system for evaluating supply chain practices in China, particularly in regards to environmental management and water pollution. Scores are calculated using government compliance data, online monitoring data, and third-party environmental audits, as well as trends in the environmental performance of factories in the company's supply chains.
Source: IPE (2020)
In 2016 this company agreed to pay US$486 million to settle litigation accusing it of causing big losses for shareholders by concealing safety risks associated with its Celebrex and Bextra pain-relieving drugs. The settlement ended more than 11 years of litigation.
Source: New article (2016)
In August 2012 Pfizer agreed to pay a US$60 million court settlement after allegedly bribing foreign officials in Europe and Asia to speed up drug approvals, and give preference to Pfizer drugs in their countries' public health programs, which in turn generated billions of dollars for the world's largest drug company.
Source: news article (2012)
In 2019 several pharmaceutical companies finally settled a 2005 lawsuit which claimed the companies fudged wholesale drug prices to increase Medicaid reimbursements. In all, the state of Illinois received a combined $648 million over the course of that litigation. This company paid US$60 million in the 2019 settlement.
Source: news article (2019)
This company is on OpenSecrets.org's list of the 100 top donor organisations in US federal-level politics since 1989. Companies on this list lobby and spend big, with large sums sent to candidates, parties and leadership PACs. This company comes in at number 81 on the list, with donations totalling US$25,518,846 between 1989 and 2018.
Source: Open Secrets (2018)
A 2018 report by Oxfam shows that four pharmaceutical corporations, including this one, systematically hide their profits in overseas tax havens. This activity could deprive developing countries of more than $100 million every year. These corporations deploy massive influencing operations to rig the rules in their favor and give their damaging behavior a veneer of legitimacy. Tax dodging, high prices, and influence peddling by drug companies exacerbate the yawning gap between rich and poor, between men and women, and between advanced economies and developing ones.
Source: Oxfam (2018)
This company received an S&P Global ESG Score of 29/100 in the Pharmaceuticals category of the 2019 SAM Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices. The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2019)
A 2015 report by Sum Of Us reveals that the largest pharmaceutical corporations are complicit in fuelling one of the most serious public health crises facing society today. Pharmaceutical companies, including this one, are sourcing active pharmaceutical ingredients (APIs) from companies in China which are responsible for massive environmental pollution from its antibiotic factories. Pfizer is among the well-known brand names which has sourced antibiotics for human and animal use from NCPC, a company that stands accused of discharging pharmaceutical effluent into the environment and numerous other serious manufacturing deficiencies.
Source: Changing Markets (2015)
In 1992, Greenpeace listed a Pfizer plant as one of the ten worst polluters in the South East of England. The plant had breached its discharge consent four times since the beginning of 1991 and also discharged ten chemicals for which it did not have a permit, including organochlorines. Pfizer was the target of a Greenpeace campaign in 1988 for dumping industrial waste in Eire, and a US group listed Pfizer as one of the top fifteen corporate contributors to global pollution, based on 1987 figures. (Noted here as 'additional information only' due to age of report).'
Source: McSpotlight (1992)
In 2009 Pfizer copped the largest US criminal fine ever (US$2.3 billion), in the settlement of allegations that it had illegally marketed its painkiller Bextra and other drugs. Pfizer also faces lawsuits over other drugs, namely Reglan, Zoloft and Effexor. [Listed under Information due to age of court finding]
Source: New article (2009)
Named one of Multinational Monitor's '10 Worst Corporations' in 2006. [Listed under Information due to age of report]
Source: Multinational Monitor (2006)
As You Sow's 2019 report, 'The 100 Most Overpaid CEOs', reveals the 100 most overpaid CEOs from USA's 500 largest public companies (as determined by the S&P 500 list). This company's CEO, Ian Read came in at number 44 on the list, having been paid US$27,913,775 in 2018. According to the report, "Most CEOs have come to be grossly overpaid, and that overpayment is harmful to the companies, the shareholders, the customers, the other employees, the economy, and society as a whole."
Source: As You Sow (2019)
This company is listed on the Federal Contractor Misconduct Database as having 11 instances of misconduct since 1995 amounting to US$3.4 billion in penalties. Instances include illegal marketing, false claims, and whistleblower retaliation.
Source: Project on Government Oversight (POGO) (2014)
In 2019 the median pay for a worker at this company was US$98,972. The CEO was paid 181 times this amount. Exorbitant CEO pay is a major contributor to rising inequality. CEOs are getting more because of their power to set pay, not because they are increasing productivity or possess specific, high-demand skills. The economy would suffer no harm if CEOs were paid less (or taxed more). In contrast, the CEO-to-typical-worker compensation ratio was 20-to-1 in 1965 and 58-to-1 in 1989.
Source: AFL-CIO (2020)
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: adopt a science-based emissions reduction target.
Source: We Mean Business (2017)
Compassion in World Farming is a UK-based organisation which works with the European food industry to encourage and reward commitment, transparency, performance and innovation in the field of animal welfare. This company's UK subsidiary won their Good Egg Award in 2012.
Source: Compassion in World Farming (2012)
The United Nations Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of 10 values in the areas of human rights, labour standards, the environment, and anti-corruption. However it's non-binding nature has been widely criticised, and many signatory corporations continue to violate the Compact's values.
Source: UN Global Compact (2020)
This company received the eleventh highest score in the Access to Medicine Index 2018, a ranking of the world's 20 largest pharmaceutical companies on their efforts to increase access to medicine in developing countries.
Source: Access to Medicine Index (2018)
California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: Modern Slavery Registry (2017)
JUST Capital polls Americans every year to identify the issues that matter most in defining just business behaviour. For their 2021 rankings the public identified 19 issues, which are organised under the headings Workers, Communities, Customers, Shareholders and Environment. JUST Capital then define metrics that map to those issues and track and analyse the largest, publicly traded U.S. companies. This analysis powers their rankings, in which this company ranked 281th of 928 companies, and 13th of 51 Pharmaceuticals & Biotech companies.
Source: JUST Capital (2020)
The Corporate Research Project's Corporate Rap Sheets are dossiers summarising the most significant crimes, violations and other questionable activities of the world's largest and most controversial companies. Follow link to see this company's Corporate Rap Sheet.
Source: Corporate Research Project (2018)
OpenSecrets.org tracks the influence of money on U.S. politics, and how that money affects policy and citizens' lives. Follow link to see this company's record of political donations, lobbying, outside spending and more.
Source: Open Secrets (2014)
|Revenue||US$17.4 billion in 2004|
|Employees||51,401 in 2004 in World|
|Address||Five Giralda Farms, Madison, NJ, 7940, USA|
|Phone||xxxx-973 660 5000|