Pfizer Splitting Commercial Operations Three Ways, Inks Supply Agreement with UNICEF
Pfizer today said it will separate its commercial operations into three business segments, changes that will be implemented in January 2014—at least within its operations in countries that do not require a consultation with works councils or unions. For those countries that do, Pfizer said it will implement the proposed changes upon the successful conclusion of such processes.
One of the three business segments, to be led by Innovative Products Group President Geno Germano, will include products across multiple therapeutic areas—inflammation and immunology, CV/metabolic diseases, neuroscience and pain, rare diseases and women’s/men’s health—the firm said.
Another segment includes vaccines, oncology, and consumer healthcare. This group will be led by Amy Schulman, president. The pharma giant added that each of these will operate as separate global businesses “and require distinct specialization in terms of the science, talent, and market approach required to deliver value to consumers and patients.”
A third segment, “value products” business, will be led by President John Young. “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,” Pfizer said. “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.”
Along with the organizational changes, Pfizer also announced that Douglas Lankler—currently chief compliance and risk officer—will become the firm’s general counsel, while current svp and Associate General Counsel Rady Johnson will take over the chief compliance and risk role.
In a statement, Ian Read, chairman and CEO, said the changes outlined today represent “the next steps in Pfizer’s journey to further revitalize our innovative core, enhance the value of our consumer and off-patent established brands and maximize the use of our capital to create value for Pfizer and our shareholders."
Separately, Pfizer today also announced an agreement with UNICEF, through which the pharma giant will supply the foundation with up to 260 million doses of Prevenar 13—the company’s 13-valent pneumococcal conjugate vaccine, intended for use in infants and young children—at a reduced tail price through 2025.
“Pfizer is dedicated to broadening vaccine access and helping to improve health outcomes around the world, and we’re proud to make Prevenar 13 available through the AMC program,” Pfizer's Susan Silbermann, president, vaccines, said in a statement.