Supplier News Breaks Archives
Pfizer separates operations
July 29th, 2013
NEW YORK – In a move that industry insiders see as a possible prelude to spinning off its generics drug business, Pfizer Inc. said it plans to separate its commercial operations into two units mainly for patent-protected branded treatments and a third for generics.
The drug manufacturer said the changes will go into effect in January in countries that do not require a consultation with labor unions.
Earlier this year Pfizer said it would begin examining the finances of its patent-protected unit, which it calls its "innovative" business, and its generics operation, its "value" business, to decide whether to spin off the generics unit.
One "innovative" business will include drugs that are expected to have patent protection beyond 2015, and will have treatment areas for inflammation, immunology, cardiovascular and metabolic, neuroscience and pain, rare diseases, and women’s and men’s health. Geno Germano, who currently heads Specialty Care and Oncology, will serve as president of the Innovative Products Group.
The other "innovative" business will include vaccines, cancer and consumer health care. Amy Schulman will be president of the Vaccines, Oncology and Consumer Healthcare unit.
Some analysts have urged Pfizer to spin off its generics business, just like it did with the nutritional products and animal health units in recent years so it can focus on its core, more lucrative branded pharmaceuticals business.