Pfizer is an American multinational pharmaceutical and biotechnology company. The company currently operates from Manhattan, New York City. Initially, it started its operations in 1849. Its founders included Charles Pfizer and his cousin Charles F. Erhart. Pfizer ranks among the world’s largest pharmaceutical companies. The company is also well-known for developing a COVID-19 vaccine.
Pfizer develops and produces medicines and vaccines in various areas. These include immunology, oncology, cardiology, endocrinology and neurology. Similarly, the company has had several blockbuster drugs and products. Pfizer is also well-known for developing other pharma products. These include Viagra, Zoloft and Lipitor.
Currently, Pfizer generates most of its revenues from the US market. In 2020, the company reported annual revenue of $41.908 billion. Furthermore, Pfizer had an operating income of $7.497 billion. On the other hand, its net income was $9.616 billion. The company also employed over 78,500 in various locations.
Despite its success, Pfizer has faced significant competition in its markets. The top 10 Pfizer competitors and alternatives include the following companies.
1. Merck & Co.
Merck & Co. is a well-known American multinational company in the pharmaceutical sector. The company operates from Kenilworth, New Jersey. Initially, it started its business in 1668 as Merck Group, named after the Merck family. The company began working in America as an affiliate in 1891. Merck & Co. develops and produces various pharmaceutical products.
Merck & Co. sells medicines, vaccines, biological therapies and animal health products. The company ranked 69th on the 2021 Fortune 500 list. In 2020, Merck & Co. generated revenues of 47.994 billion. It also helped the company make an operating income of $8.791 billion and a net income of $7.0067 billion. Merck & Co. is one of the most prominent Pfizer competitors and alternatives.
2. Amgen
Amgen is another well-known Pfizer competitor and alternative. Its name stands for Applied Molecular GENetics. Currently, Amgen operates as a multinational biopharma company from Thousand Oaks, California. It is one of the world’s largest independent biotech companies. The company has been operational since 1980. Like Pfizer, Amgen also sells various products.
Amgen’s products include Aimovig, Aranesp, Epogen, Kineret, Kyprolis, Parsabiv, Prolia, Repatha, Vectibix, Xpeva, etc. The company specializes in molecular biology and biochemistry. In 2020, Amgen generated revenues of $25.424 billion. Consequently, it also made an operating income of $9.674 billion and a net income of $7.842 billion. The company is also well-known for its research for cancer-fighting drugs.
3. Bristol Myers Squibb
Bristol Myers Squibb (BMS) is an American multinational company. The company operates from New York City and has been operational since 1887. Currently, it is one of the world’s largest pharma companies. The company also consistently ranks on the Fortune 500 list among corporations in the US. Bristol Myers Squibb manufactures and sells prescription pharma and biologics in various areas.
Bristol Myers Squibb covers areas such as cancer, HIV/AIDS, cardiovascular diseases, diabetes, hepatitis, etc. In 2020, it generated revenues of $42.518 billion. Consequently, it also made an operating income of $30.745 billion. However, it suffered a net loss of $8.995 in that year. Being one of the most prominent names in the industry, BMS is a significant Pfizer competitor.
4. Eli Lilly and Company
Eli Lily and Company is an American pharmaceutical company that operates from Indianapolis, Indiana. The company produces and sells its products in over 125 countries with offices in 18 nations. Initially, it started its operations in 1876. The company is synonymous with its short-name Lilly. Lilly was one of the prominent names in producing and distributing the polio vaccine.
Lilly is also one of the most prominent names in manufacturing psychiatric medications. The company also ranked 123rd on the Fortune 500 list in 2019. In the same year, Eli Lilly generated revenues of $22.319 billion. Consequently, the company made an operating income of $5.595 billion and a net income of $8.318 billion. The company is one of the most prominent Pfizer competitors in various areas.
5. GlaxoSmithKline
GlaxoSmithKline (GSK) is a British multinational pharma company. The company operates from London, England. Initially, it started through a merger between Glaxo Wellcome and SmithKline Beecham in 2000. The company was the world’s sixth-largest pharma company in 2019 according to Forbes. However, it still ranked behind Pfizer on the list.
GSK also holds the stature of developing the first malaria vaccine. The company also manufactures and sells pharmaceutical products in other areas. On top of that, it also produces vaccines, oral healthcare, nutritional products and OTC medicines. In 2021, GSK generated revenues of £34.114 billion. Consequently, it also made a net income of £5.096 billion and an operating income of £6.201 billion.
6. Johnson & Johnson
Johnson & Johnson is an American multinational company that started operations in 1886. The company develops and sells medical devices and pharmaceuticals. On top of that, it also produces consumer packaged goods. Johnson & Johnson is one of the top names in the world’s most valuable companies. The company was one of the primary competitors to Pfizer in producing a COVID-19 vaccine.
Johnson & Johnson operates from New Brunswick, New Jersey. The company also includes over 260 subsidiaries that operate in 60 countries. On top of that, Johnson & Johnson sells its products in over 175 countries. In 2020, Johnson & Johnson generated revenues of $82.584 billion. Consequently, its operating and net income were $19.733 billion and $14.714 billion.
7. Moderna
Moderna is another competitor of Pfizer in producing and selling a COVID-19 vaccine during the pandemic. It is an American pharma and biotechnology company. Although not as old as some other competitors, Moderna has made a name for itself in the industry. The company started its operations in 2010. However, its only commercial product includes the Moderna COVID-19 vaccine.
Moderna operates from Cambridge, Massachusetts. The company has focused on mRNA technology to develop and sell vaccines. In 2021, the company distributed 807 million doses of its COVID-19 vaccine in over 70 countries. In that year, it generated revenues of $18.5 billion. Consequently, it also provided an operating and net income of $13.3 billion and $12.2 billion.
8. Bayer
Bayer is a German multinational pharmaceutical and life sciences company. It ranks among the largest pharma companies in the world. Currently, it operates from Leverkusen. The company works in various areas. These include pharmaceuticals, consumer healthcare products, agriculture products, biotechnology products and seeds. Initially, Bayer started its operations in 1863.
9. Roche
F. Hoffmann-La Roche AG is a Swiss multinational healthcare company. Currently, the company operates two divisions, expanding its operations worldwide. These include the Pharmaceutical and Diagnostics divisions. Roche operates under a holding company, Roche Holding AG. Similarly, its current headquarters are in Basel. Roche ranks as the largest pharma company in the world.
Roche also operates in the US through its affiliate company, Genentech. Similarly, the company has various subsidiaries to expand its operations globally. Roche includes several products under its two segments. In 2020, the company generated revenues of CHF58.323 billion. Its operating and net incomes were CHF18.453 billion and CHF15.068 billion.
10. Bausch Health
Bausch Health is a Canadian multinational company that specializes in pharmaceuticals. The company operates from Laval, Quebec. Currently, it develops, produces and sells pharma products and branded generic drugs. Its active areas include skin diseases, gastrointestinal disorders, eye health and neurology. The company started its operations as ICN Pharmaceuticals in 1959.
Bausch Health may not rank among the world’s largest pharma companies. However, it poses a significant threat to all other companies in the industry. In 2019, the company generated revenues of $8.6 billion. However, it suffered operating and a net loss of $0.203 billion and $1.788 billion. The company continues growing as a Pfizer competitor and alternative.
Conclusion
Pfizer is an American multinational company. Currently, it operates in the pharmaceutical and biotechnology industries. Pfizer is well-known for producing various vaccines and pharma products. Despite that, it has faced significant competition. The list of top 10 competitors and alternatives is available above.
