Sector News

Pfizer unveils plans for new division post Allergan merger

February 10, 2016
Life sciences

Pfizer has revealed plans for the birth of a new business division, global speciality and consumer brands, after completion of its $160-billion merger with Allergan.

Bill Meury, who currently heads up Allergan’s branded pharmaceuticals segment, is to lead the new unit, which will house Pfizer’s consumer healthcare unit and Allergan’s ophthalmology and aesthetics businesses, including Botox for therapeutic and cosmetic uses.

In other plans, after the transaction closes Pfizer’s Global Innovative Pharma (GIP) business will be combined with the Vaccines, Oncology and Consumer (VOC) division and will operate under the leadership of Albert Bourla, who will become group president, GIP.

Pfizer will continue to manage the combined company’s commercial operations through two distinct businesses: an Innovative Products business and an Established Products business.

The Innovative Products business will be composed of two operating segments: GIP and the Global Specialty and Consumer Brands segment, while the Established Products business will continue to be led by John Young, and consist of the Global Established Pharmaceutical segment, including all legacy Hospira commercial operations.

“We are designing the combined company to preserve and enhance our option to potentially separate the innovative and established businesses into separate companies in the future, and continue to expect to make a decision about any potential separation by no later than the end of 2018,” noted Pfizer’s chief executive Ian Read.

As previously announced, Brent Saunders will take charge as president and chief operating officer of the combined company with responsibility for the oversight of Pfizer and Allergan’s combined commercial businesses, manufacturing and strategy functions.

By Selina McKee

Source: Pharma Times

comments closed

Related News

May 21, 2022

As monkeypox cases emerge in US and Europe, Bavarian Nordic inks vaccine order

Life sciences

A monkeypox outbreak is emerging in the U.S. and Europe, and at least one country is amping up countermeasure preparedness. Bavarian Nordic has secured a contract with an unnamed European country to supply its smallpox vaccine, called Imvanex in Europe, in response to the emergence of monkeypox cases, the Danish company said Thursday.

May 21, 2022

Moderna chairman Afeyan defends hiring practices after CFO debacle: report

Life sciences

Moderna’s recent chief financial officer debacle—in which Jorge Gomez departed on his second day on the job—raised questions about the company’s hiring process given its rush to global biopharma prominence. The most obvious one: How was it possible for Gomez to be hired when he was under investigation by his previous employer, Dentsply Sirona of Charlotte, N.C.

May 21, 2022

Merck to pay up to $1.4B in cancer deal with Kelun, but details are scarce

Life sciences

Merck & Co. is plucking a cancer project from the branch of Chinese-based Kelun Pharmaceutical for up to $1.4 billion, but details from the New Jersey-based Big Pharma have been hard to come by. The deal, first disclosed Monday on the Shenzhen stock exchange, has Merck handing over $47 million in upfront cash in exchange for ex-China rights to a “macromolecular tumor project.”