Pfizer (NYSE: PFE ) plans to internally separate its commercial operations into three separate business segments, the company announced today. Two of those segments will include what the company calls innovative business lines, and a third will include its value lines.
One of the innovative segments will include products that cover several therapeutic areas, including inflammation and immunology, CV/metabolic, neuroscience and pain, rare diseases, and women's and men's health. Those products will have market exclusivity beyond 2015.
The other innovative segment will include vaccines, oncology, and consumer health care, with each of those areas operating as a separate global business.
The value business segment will include products that have lost market exclusivity, as well as products that are mature, patient-protected, and expected to lose exclusivity through 2015 in most major markets. Those products will be positioned to provide lower-cost treatments to patients.
The value business line will also include biosimilar products and those that come about from current and future collaborations, such as with Mylan in Japan, Teuto in Brazil, and Hisun in China.
The three segments will be operating in developed as well as developing markets. In countries that don't require consultation with employee organizations, such as unions, the changes will take place in January. In other countries, the changes will take place after the necessary consultation.