NT_1170x120_1-11-18

Ian Read

Pfizer to build sterile injectable plant in Michigan

Pfizer to build sterile injectable plant in Michigan

NEW YORK — Pfizer announced it will increase its commitment to U.S. manufacturing with a $465 million investment to build one of the most technically advanced sterile injectable pharmaceutical production facilities in the world in Portage, Michigan. This U.S. investment will strengthen Pfizer’s capability to produce and supply critical, life-saving injectable medicines for patients around

Pfizer to organize into three businesses for future growth

Pfizer to organize into three businesses for future growth

NEW YORK — Pfizer Inc. announced it will organize the company into three businesses: a science-based Innovative Medicines business which will now include biosimilars and a new hospital business unit for anti-infectives and sterile injectables; an off-patent branded and generic Established Medicines business operating with substantial autonomy within Pfizer and a Consumer Healthcare business. These

Pfizer appoints Albert Bourla to new COO post

Pfizer appoints Albert Bourla to new COO post

NEW YORK — In a fine-tuning of its executive leadership, Pfizer Inc. has named Albert Bourla as chief operating officer, a newly created position. Pfizer said Bourla, 56, currently group president of the Pfizer Innovative Health business unit, is slated to start in the COO role on Jan. 1. With the move, chairman and chief

Pfizer mulls possible sale of consumer health unit

Pfizer mulls possible sale of consumer health unit

NEW YORK — Pfizer Inc. is assessing strategic options for its Pfizer Consumer Healthcare subsidiary, including a potential sale. The pharmaceutical giant said this week that it’s considering “a full or partial separation of the Consumer Healthcare business from Pfizer through a spin-off, sale or other transaction.” However, the company noted that it may decided

Pfizer decides against split-up

Pfizer decides against split-up

NEW YORK — Pfizer says that it’s not going to split up. The pharmaceutical giant announced Monday that, following an extensive evaluation, its board of directors and executive leadership team decided to keep the company’s current structure and not pursue a separation of Pfizer Innovative Health and Pfizer Essential Health into their own publicly traded

Pfizer to buy Medivation for $14 billion

Pfizer to buy Medivation for $14 billion

NEW YORK  — Boosting its oncology portfolio, Pfizer Inc. plans to acquire biopharmaceutical company Medivation for $14 billion in cash. Under the deal announced Monday, Pfizer is paying $81.50 a share in cash for San Francisco-based Medivation, whose products include XTANDI (enzalutamide), an androgen receptor inhibitor that the companies said is the nation’s leading novel

Pfizer, Allergan merger aborted

NEW YORK — Pfizer Inc. and Allergan PLC have, by mutual agreement, terminated their planned merger. Pfizer management attributed the decision to new tax rules issued by the Treasury Department that are specifically intended to make such combinations less ­attractive. Under the proposed merger, Pfizer would have shifted its corporate address — but not its

Pfizer names post-Allergan merger exec team

Pfizer names post-Allergan merger exec team

NEW YORK — Pfizer Inc. has announced the executive leadership team following the completion of its acquisition of Allergan plc. The pharmaceutical giant said Monday that, as announced previously, Allergan chief executive officer Brent Saunders will become president and chief operating officer of the merged company, overseeing Pfizer and Allergan’s combined commercial businesses, manufacturing and

Pfizer-Allergan deal is expected to stand

Pfizer-Allergan deal is expected to stand

NEW YORK — Despite widespread criticism over the issue of tax inversions, legal experts say that current regulatory restrictions in the United States are unlikely to block the $160 billion merger deal announced by U.S. pharmaceutical giant Pfizer and Ireland-based drug manufacturer Allergan Inc. Generally, tax inversions involve a U.S. firm reincorporating in a low-tax

PhRMA chief executive Castellani to retire

PhRMA chief executive Castellani to retire

WASHINGTON — John Castellani, president and chief executive officer of Pharmaceutical Research and Manufacturers of America (PhRMA), plans to retire next year. PhRMA said Thursday that Castellani’s retirement is slated to go into effect Jan. 1, 2016. “Representing the biopharmaceutical industry has been one of the most rewarding experiences of my career, and I am