Double blow to Pfizer’s emerging markets strategy
pharmafile | December 10, 2010 | News story | Business Services, Sales and Marketing | David Simmons, Ian Read, Jean-Michel Halfon, Jeffrey Kindler, Pfizer, Steve Yang, emerging pharma markets, recruitment
Pfizer has lost two senior executives with key roles in its emerging markets strategy.
The departure of the company’s head of emerging markets Jean-Michel Halfon was announced internally last week and Pharmafocus can exclusively reveal that its head of R&D for Asia is also set to jump ship.
Dr Steve Yang will move to an expanded role at AstraZeneca in January after working at Pfizer for the last nine years and developing the company’s long-term investment strategy for R&D in Asia.
Pfizer has appointed David Simmons to replace Halfon as head of emerging markets, but declined to comment on who would take up Dr Yang’s former role.
Emerging markets are a key area for pharma and currently drive the industry’s global growth. Like most pharma companies Pfizer has been trying to tap into this market.
Last year it established an Emerging Market Business Unit to works across more than 70 countries. It subsequently launched an emerging markets e-payment scheme and recently signed a deal with Brazilian generics firm Laboratorio Teuto Brasileiro.
But there are suggestions from analysts the company is underperforming in the area and, in the wake of this week’s surprise exit of Jeffrey Kinder, Pfizer stressed the emerging markets experience of new chief executive Ian Read.
Pfizer’s loss is AstraZeneca’s gain
Pfizer’s former head of R&D Asia Dr Steve Yang will start at AstraZeneca on 6 January 2011 as head of R&D for Asia and emerging markets.
AstraZeneca told Pharmafocus the role is a newly-created one for the company and will see Dr Yang focus on building its R&D capabilities in Asia and emerging markets.
He will be based in Shanghai and will report to AstraZeneca’s R&D president Martin Mackay.
While at Pfizer Yang led the company’s efforts to build a network of R&D partnerships with Asian biotech companies, contract research groups, and academic institutes.
Dominic Tyer
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