Pfizer to Create Separate, Internal, Innovative and Value Businesses
Pfizer has announced plans to internally separate its commercial operations into three business segments, two of which will include innovative business lines and a third which will include the value business line. Each of the three segments will include developed markets and emerging markets. The changes will be implemented in January 2014 in countries that do not require a consultation with works councils or unions, and will be implemented in countries that require consultation after the successful conclusion of those processes.
One of the innovative business segments will be led by Geno Germano, Group President, Innovative Products Group. It will include products across multiple therapeutic areas that are expected to have market exclusivity beyond 2015, such as inflammation and immunology, neuroscience and pain, and rare diseases.
The other innovative business segment will include vaccines, oncology, and consumer healthcare and will be led by Amy Schulman, Group President, Vaccines, Oncology and Consumer Healthcare. Each of these businesses will operate as a separate global business and require distinct specialization in terms of the science, talent, and market approach required to deliver value to consumers and patients.
The Value business segment will be led by John Young, Group President, Value Products Group. This group will include products that generate strong, consistent cash flow, and will be positioned to provide patients access to effective, lower-cost, high-value treatments. In addition to products that have lost market exclusivity, it will generally include mature, patent-protected products that are expected to lose exclusivity through 2015 in most major markets, biosimilars and current and future established products collaborations, such as our existing partnerships with Mylan in Japan, Teuto in Brazil, and Hisun in China.