Pfizer Inc. is a multinational pharmaceutical corporation located in the United States. First founded in 1849, Pfizer Inc. produces a wide array of medical products ranging from Lipitor, a blood cholesterol drug, Lyrica, an antifungal pill, to Viagra, a drug that treats erectile dysfunction.
In 1969, Pfizer merged with Chung-ang Pharmaceuticals marking the start of their Korean branch, Pfizer Korea. At the time of the merger, Chung-ang Pharmaceuticals was a newly founded company of 10 years located in Gwangjingu, Seoul. In 1999, Pfizer Korea introduced Viagra into the Korean market. The Viagra market was monopolized by Pfizer Korea until the inevitable patent expiration in 2012. Most of Pfizer Korea’s profits depend heavily on Viagra sales but other products such as Lipitor, and Champix, an anti-smoking pill, are also well-known.
Pfizer Korea puts a great emphasis on corporate social responsibility and showing respect towards humanity. To achieve this goal, Pfizer Korea holds various projects and events such as providing scholarships for financially challenged university students, funding medical research in Korea, and children raised by their grandparents. Pfizer Korea also plays a big role in providing medical and financial aid for worldwide countries suffering from catastrophic natural disasters such as Pakistan in 2005, Haiti in 2010, and Japan in 2011.