Pharmaceutical giant Pfizer is reorganising its company into three businesses to help the company “achieve its growth potential”.
A science-based Innovative Medicines business will now include biosimilars and a new hospital business unit for anti-infectives and sterile injectables. These units possess significant therapeutic area expertise in the medical, commercial and patient experience domains and will provide a strong commercialisation platform for these medicines.
With a robust portfolio of growing in-market products, a new wave of expected launches starting in 2020 and a strong pipeline, Pfizer believes it is well positioned for growth in this business.
An off-patent branded and generic Established Medicines business will include the majority of the company’s off-patent solid oral dose legacy brands, including Lyrica, Lipitor, Norvasc and Viagra, and certain generic medicines. This business will operate in all regions of the world and have distinct and fully-dedicated manufacturing, marketing and regulatory functions.
A Consumer Healthcare business will include all of the company’s over-the-counter medicines and will continue to operate relatively autonomously with dedicated manufacturing and regulatory capabilities.
“This new structure represents a natural evolution of these businesses given the ongoing strength of our in-market products and our late-stage pipeline and the expected significant reduction in the impact of patent protection losses post-2020 following the loss of exclusivity for Lyrica in the US, which is expected to occur in or after December 2018,” said Ian Read, Pfizer chairman and CEO.