Pfizer is planning for internal classification of its commercial operations into three business segments, which will include developed and emerging markets, in an effort to deliver value to consumers and patients.
The three business segments will include two Innovative business lines and one Value business line and each of them will operate as a separate global business.
Implementation of the changes will take place in January 2014 in countries that do not require a consultation, while in countries that require consultation, execution will be carried out after the successful conclusion of the process.
Geno Germano will lead as group president for one of the Innovative business segments, which will focus on therapeutic areas such as Inflammation and Immunology CV/Metabolic Neuroscience and Pain Rare Diseases and Women's /Men's Health.
The segment will include products across multiple therapeutic areas that are expected to have market exclusivity beyond 2015.
Vaccines Oncology and Consumer Healthcare, which is the other Innovative business segment, will be led by Amy Schulman as group president.
John Young will lead as group president for the Value business segment, which will be positioned to provide patients access to effective lower-cost high-value treatments.
The group will also include products that have lost market exclusivity as well as mature patent-protected products that are expected to lose exclusivity through 2015 in most major markets.
Pfizer chairman and chief executive officer Ian Read stated, "This represents 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."
