Pfizer decides not to break up business

pharmafile | September 26, 2016 | News story | Sales and Marketing Ian Read, Pfizer, United States, america 

In the intervening four years, Pfizer has conducted “extensive evaluation” into the possibility, with the company reorganising into two distinct entities. One unit is tasked with generating money through older and off-patent medicines whilst the other unit focused on growing operations with products dependent on more recent research and development.

Chief Executive Officer Ian Read had recently said that “By operating two separate and autonomous units within Pfizer we are already accessing many of the potential benefits of a split – sharper focus, increased accountability, and a greater sense of urgency – while also retaining the operational strength, efficiency and financial flexibility as a single company.”

Today’s release then was not altogether a surprise, especially given that Pfizer have been bullish about the financial performance of their company of late.  In the statement, it said they were “poised to grow” and have recently agreed a deal to acquire Medivation Inc., and their line of cancer treatments, in a $14 billion deal. Pfizer had recently had a merger with Allergan Plc blocked by U.S. tax rules earlier this year, which may have potentially had an impact upon the decision to not splitting up into two companies.

Ben Hargreaves

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