The Early Years
Pfizer Inc, the largest research-based biopharmaceutical company in the world, has a long and storied history. Pfizer has a reputation for pioneering breakthroughs in medicine, and it has been a leader in the industry since its inception. The company traces its roots back to 1849, when Charles Pfizer and Charles Erhart began manufacturing citric acid in Brooklyn, New York. The business was incorporated in 1891 and had grown to employ over 1,000 people by 1906.
Pfizer’s stock began trading on the New York Stock Exchange in 1928, when it was first listed under the ticker symbol “PFE.” Pfizer’s stock price at the time of listing was $80 per share. Over the next few decades, Pfizer’s stock slowly but steadily increased in value, reaching a price of $100 per share in 1938 and $200 per share in 1950.
The Growth Years
In the 1960s and 1970s, Pfizer’s stock price began to rapidly increase, largely due to the introduction of several new drugs. The antibiotic Terramycin, introduced in 1962, was a particular success, and by 1970 the stock had reached a high of $400 per share. In 1982, the stock price reached an all-time high of $600 per share, largely due to the introduction of Lipitor, the first statin drug to lower cholesterol.
Pfizer’s stock continued to rise throughout the 1990s and early 2000s. In 2002, the stock reached a high of $45 per share. At this point, Pfizer was the largest pharmaceutical company in the world and one of the most profitable companies on the New York Stock Exchange. However, in 2004, Pfizer’s stock began to decline as the company encountered several setbacks, including several failed drug trials and the withdrawal of several of its drugs from the market.
Recent Years
In the years since 2004, Pfizer’s stock has seen several ups and downs. In 2006, the stock reached a low of $25 per share, but it then began to recover. In 2007, the stock reached a high of $40 per share. In the years since then, the stock has generally remained in the range of $30 - $40 per share, with occasional dips and spikes.
The most recent dip in the stock price happened in 2020, when the coronavirus pandemic caused a global economic downturn. Pfizer’s stock price fell to a low of $30 per share, but it has since rebounded and is currently trading at around $38 per share. Despite the recent dip, the stock is still up significantly from its all-time low of $25 per share in 2006.
Looking Ahead
It is impossible to predict exactly what will happen to Pfizer’s stock price in the future. However, it is likely that the company will continue to be a leader in the pharmaceutical industry and that its stock price will remain relatively stable. Pfizer has always been a leader in drug innovation and it is likely that the company will continue to develop breakthrough drugs in the years to come.
Additionally, Pfizer has recently entered into several strategic partnerships with other companies, such as Merck and Gilead, which could help to further strengthen the company’s position. As long as Pfizer continues to lead the way in drug innovation and strategic partnerships, it is likely that the stock price will remain relatively stable in the years ahead.
Conclusion
Pfizer has been a leader in the pharmaceutical industry for over a century and its stock price has seen many ups and downs over that time. From its first listing on the New York Stock Exchange in 1928 at $80 per share, the stock has seen many highs and lows. In the recent years, the stock has generally been in the range of $30 - $40 per share, but it has seen occasional dips and spikes. As long as Pfizer continues to be an innovative leader in the industry and forms strategic partnerships, it is likely that the stock price will remain relatively stable in the years to come.