Pfizer to create three business segments
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. ■