Pfizer Inc. is reorganizing the company into three businesses: a science-based Innovative Medicines business which will include biosimilars and a new hospital business unit for anti-infectives and sterile injectables; an off-patent branded and generic Established Medicines business and a Consumer Healthcare business. These changes will take effect at the beginning of Pfizer’s 2019 fiscal year. 

“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 U.S which is expected to occur in or after December 2018.  As we transition to a period post-2020 where we expect a higher and more sustained revenue growth profile we see this new structure better positioning each business to achieve its growth potential,” said Ian Read, Pfizer Chairman and Chief Executive Officer. 

The Innovative Medicines business will include Pfizer’s Innovative Health business units as well as a new Hospital Medicines business unit that will commercialize Pfizer’s portfolio of sterile injectable and anti-infective medicines. Pfizer will also incorporate its biosimilar portfolio into its Oncology and Inflammation & Immunology business units. 
The Innovative Medicines business includes a 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.

The Established Medicines business will include the majority of Pfizer’s off-patent solid oral dose legacy brands, including Lyrica, Lipitor, Norvasc and Viagra, and certain generic medicines. This business will have distinct and fully-dedicated manufacturing, marketing, and regulatory functions to operate as a stand-alone business within Pfizer. 

“Delivering critical medicines to patients all over the globe remains the compass for all we do at Pfizer, and this design gives us a sharper focus on diverse patients in diverse markets,” said Albert Bourla, Pfizer Chief Operating Officer. “In addition, the structure will enable the Established Medicines business to optimize its distinct growth opportunities, while also providing the future flexibility to access opportunities that enhance value.” 

The Consumer Healthcare (PCH) business will include all of Pfizer’s OTC medicines and will continue to operate relatively autonomously with dedicated manufacturing and regulatory capabilities. 
When these changes are effective John Young and Angela Hwang will lead Pfizer’s Innovative Medicines business and will continue to report to Albert Bourla. 
The Established Medicines business will be led by Michael Goettler, who will become a member of Pfizer’s executive leadership team reporting to Albert Bourla.