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Pfizer names executive leadership team for combined organization upon close of proposed Allergan transaction.
Pfizer announced on Feb. 8, 2016 plans to continue to manage its commercial operations through the innovative products business and the established products business after the proposed Allergan transition is complete in the second half of 2016. In addition, the company announced in a press statement that it expects to decide about a potential separation of the combined company’s innovative and established businesses by no later than the end of 2018.
The company also announced that Brent Saunders will become president and chief operating officer of the combined company with responsibility for the oversight of Pfizer and Allergan’s combined commercial businesses, manufacturing, and strategy functions.
The Innovative Products business will be composed of the Global Innovative Pharmaceutical and the Global Specialty and Consumer Brands segment. Through the closing of the transaction, Pfizer’s Global Innovative Pharma (GIP) business and its Vaccines, Oncology and Consumer (VOC) business will operate separately under Albert Bourla, group president, VOC. Upon the closing of the transaction, the vaccines and oncology businesses will be combined with the GIP business, and Bourla will become group president, Global Innovative Pharma, leading all of these businesses.
Also following the close of the transaction, the combined company will create a new operating segment, Global Specialty and Consumer Brands, that will include Pfizer’s Consumer Healthcare unit and Allergan’s ophthalmology and aesthetics businesses, and Botox Therapeutic and Cosmetic. Bill Meury, currently executive vice president and president Branded Pharma at Allergan, will become group president, Global Specialty and Consumer Brands, Pfizer.
The Established Products business will continue to be led by John Young, and consist of the Global Established Pharmaceutical segment, including all legacy Hospira commercial operations.
Other members of the the executive leadership team for the combined Pfizer and Allergan business following the close of the proposed transaction are Tony Maddaluna, executive vice president, president Pfizer Global Supply; Laurie Olson, executive vice president, strategy, Portfolio and Commercial Operations; and John Young, group president, Global Established Pharma.
Pfizer executives continuing in their roles and reporting to Ian Read, Pfizer chairman and chief executive officer are: Frank D’Amelio, executive vice president, business operations and chief financial officer; Mikael Dolsten, president, worldwide research and development; Chuck Hill, executive vice president, worldwide human resources; Rady Johnson, executive vice president, chief compliance and risk officer; Doug Lankler, executive vice president, general counsel; Freda Lewis-Hall, executive vice president, chief medical officer; and Sally Susman, executive vice president, corporate affairs.
Pfizer also announced that Geno Germano, group president, Global Innovative Pharma Business, will be leaving the company.
Pfizer and Allergan will continue to operate as two separate companies until the close of the transaction later in 2016. The transaction is subject to receipt of regulatory approval in certain jurisdictions, including the United States and European Union; the receipt of necessary approvals from both Pfizer and Allergan shareholders; and the completion of Allergan’s pending divestiture of its generics business to Teva Pharmaceuticals Industries Ltd.