The company has officially retired its long-standing oval pill-shaped logo, replacing it with a new one that resembles the structure of the DNA double helix.
The old logo was first demonstrated back in the late 40s of the last century and has not changed much since then. And so the leadership of the pharmaceutical giant decided that the time had come not just for change, but for global change. As stated in the presentation for the new logo, it symbolizes the DNA underlying Pfizer - a company that uses "the power of science to treat and prevent human disease."
The change in logo and the grandiose statement of the company's purpose were timed to coincide with the release of the BNT162b2 coronavirus vaccine, developed in collaboration with the German company BioNTech. Pfizer wants to be associated with innovation and cutting-edge technology, rather than just being a drug and vaccine maker in the public eye. And the emergence of a means of combating coronavirus will greatly help the company in this matter.
Works on logo began 18 months ago, even before the start of the pandemic, and the very idea of rebranding arose in January 2019. The designers created about 200 samples, from which they then chose the 4 most suitable ones by conducting surveys among about 4,000 patients and 2,000 doctors. As a result, it was decided to focus on the one that most of all shows the connection between Pfizer and science.
At the same time, the company decided not to change the motto, which sounds like "Breakthroughs that change patients' lives" ("Breakthroughs that change the lives of patients"), rightly believing that it is consistent with the idea embodied in the new logo.
It should be noted that investors reacted favorably to the rebranding, as a result of which the company's share price rose by 1%.
