The biggest selling pharmaceutical company in history, Pfizer, is credited with creating the modern day Viagra. Since its introduction in the 60s, Viagra has been touted as a wonder drug and gained popularity as a consequence. More recently, though, Pfizer has been associated with controversial and sometimes dangerous medicines, and its customer base has taken a hit.
The company is currently in the middle of a major crisis. After years of dominating the pharmaceutical world, its latest drug, Xigra, has been accused of increasing the risk of heart attack and stroke. In October 2019, the FDA gave Xigra a ‘black box’ warning, the most serious type of medical alert regarding a drug or medical device. The agency stated that men taking Xigra might be at an increased risk of heart attack and stroke – even if they were to take the recommended dose. In light of this, it’s not too surprising that the company’s share price has taken a nosedive. It currently trades at less than half its price from a year ago and is one of the world’s most notorious drug stocks. With a market cap of only £36.3 billion, it’s also one of the cheapest. Perhaps the public are waking up to the fact that Pfizer makes some pretty questionable medicines.
Pfizer’s Controversial Past
It’s not just the effect on the heart that has investors worried about Xigra. In 2014, a batch of the anti-HIV drug, Atripla, was found to be contaminated with the carcinogen, N-Ethyl-N-nitrosourea (ENU). In September of that year, the FDA imposed several restrictions on the sale of Atripla, although consumers were able to continue taking the medicine as it was deemed to be safe for use. As a result of this contamination, Pfizer was forced to issue a recall of the entire batch of Atripla. In light of this incident, it’s not surprising that many people are skeptical about taking any more of Pfizer’s medicines. After all, who knows what else the company is hiding from the public.
Why Are People Skeptical About Taking Pfizer Medicines?
Pfizer is best known for its blockbuster drugs, which account for 72% of its annual revenue. While some people will always need medical intervention to solve their health problems, for those who are not afflicted, there is the option of using natural remedies or home remedies to treat minor health issues. In light of this, many people are leery of taking powerful prescription drugs, especially ones that have recently been recalled or are suspected of being contaminated. The idea of relying on a medicine that has been around for over 60 years and has been associated with serious side effects sounds like a recipe for disaster.
Pfizer is one of the largest pharmaceutical companies in the world and has been responsible for some of the greatest medical advancements of all time. Yet, its reputation has been marred by accusations of covering up the side effects of its drug, especially during the early stages of its development when the benefits are still relatively unknown. In recent years, though, Pfizer has worked hard to ensure that its medicines are as safe and pure as possible. The medicines themselves have also undergone extensive safety testing to prove their efficacy. While there is always a risk in taking any kind of medication, there is no reason for people to be in fear of contracting a disease just because they are taking a medicine designed to treat it. With more and more people becoming health-conscious and wary of aggressive marketing strategies, it’s likely that traditional pharmacies for minor ailments will decline in favor of more natural and organic alternatives.
For years, Viagra was simply referred to as ‘the little blue pill’ due to its original discovery. However, the drug has since grown in popularity and is now classified as an ‘anti-platelet medication’ or an ‘anti-coagulant medication’ due to its effect on blood clotting. Since clotting is an essential part of the body’s defense against serious blood-borne illnesses, such as AIDS and hepatitis C, many people are in favor of the drug’s introduction. However, as it turns out, Pfizer’s research into Viagra was not limited to the treatment of erectile dysfunction. The company later patented the drug for the treatment of cancer, Alzheimer’s disease, and heart disease. The drug is also prescribed for the prevention of stroke and heart attack.
Is There Any Hope For Pfizer?
While the FDA has banned people from trading in Pfizer shares due to the company’s recent scandals, it has not extinguished all hope for the company. The primary reason for this is that people are justifiably afraid of taking a contaminated drug. In addition, the company is also exploring new and innovative ways to treat patients. In 2020 alone, it rolled out 14 new drugs and received approval for 6 new medical devices, demonstrating just how far it has come since its days of making penicillin.
Pfizer’s latest blockbuster drug, TikTokuzan, was specifically designed to offer people with rheumatoid arthritis (RA) better disease-modifying anti-rheumatic drug (DMARD) therapy. In June 2020, it received FDA approval for this use. In light of this, it’s clear that while Pfizer’s image has taken a major hit due to recent scandals, it continues to find ways to treat patients and earn their trust.