Previously separated ‘innovative’ and ‘value’ business segments will remain autonomous under Pfizer umbrella
Pharmaceutical giant Pfizer has ended speculation over whether it will split into two separate companies.
In July 2013, Pfizer internally divided its operations into ‘value’ and ‘innovative’ segments. The ‘value’ side focuses on established off-patent or near-expiry products, while the ‘innovative’ parts seek to commercialise new drugs and vaccines. At the time, the company said it was investigating whether to fully split those autonomous segments into two distinct companies. For now, Pfizer has decided that split is not worthwhile.
However, the company appears to be hedging its bets. Chief executive Ian Read said Pfizer will ‘continue to generate the financial information necessary to preserve our option to split’ in the future.