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Today, Pfizer
is announcing plans to move forward 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. Beginning with the first-quarter 2014 financial
results, the company will provide financial transparency for each of these
three business segments, which will include a 2014 baseline management view of
profit and loss for each segment.
One of the Innovative business segments will be led by Geno Germano, Group
President, Innovative Products Group. It will generally include products
across multiple therapeutic areas that are expected to have market exclusivity
beyond 2015. The therapeutic areas include Inflammation and Immunology,
CV/Metabolic, Neuroscience and Pain, Rare Diseases and Women's /Men's Health.
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.
Olivier Brandicourt will lead the transition from the current Emerging Markets
organization to the regional structure that will be established for each of
the three business segments.
In connection with the changes we are announcing today, Douglas Lankler,
currently Chief Compliance and Risk Officer, will become General Counsel, and
Rady Johnson, currently Senior Vice President and Associate General Counsel,
will become Chief Compliance and Risk Officer.
All leadership changes will be effective January 1, 2014.
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