Pfizer (NYSE: PFE) swallowed her little blue pill.
No, we are not talking about Viagra. On Tuesday, the company officially ditched its long-standing logo, replacing it with a new one reminiscent of DNA double-helix construction. With relatively minor changes, the pill logo has represented the company since the 1940s.
But the slogan of the pharmaceutical giant (“Breakthroughs that change the lives of patients”) remains unchanged.
A presentation video posted on Pfizer’s Twitter feed explained the symbolism of the new logo through captions.
“After more than 170 years of treating the disease, we are entering a new era, a time of extraordinary focus on science and dedication to patients,” the headlines read. “We unlock the pill to reveal the DNA at the heart of Pfizer. Embrace the power of science to cure and prevent human disease. This is our new identity, an emblem of our purpose.”
The logo change and grand statement of intent come as the company’s BNT162b2 coronavirus vaccine, developed in collaboration with the German company BioNTech, is being deployed following emergency use clearance from health regulators in the United States and United Kingdom.
It seems Pfizer wants to be associated with cutting edge innovation and development, rather than being identified as a slow, complacent drug and vaccine maker. BNT162b2 will be of great help in this regard, reinforcing its claim that it is dedicated to being a company at the forefront of science despite its age and its lasting strong position in the market.
Investors love when their companies change brands in a meaningful, credible, and relevant way. On Tuesday, Pfizer stock rose just over 1%, eclipsing the S&P 500‘s gain on the day.
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