NEW YORK (AP) — Pfizer, facing an aging population and shifting risks from the loss of patents, is reshaping the company into three businesses.

The three divisions, announced Wednesday, include Innovative Medicines, which will focus on biological science and other technologies needed to address an aging population. The Established Medicines business will handle generic and off-brand medication. Lastly, the Consumer Healthcare business will handle over-the-counter medicines.

pfizer 121279006 Pfizer Reorganizes To Handle Aging Consumers And Patents

(credit: Dan Kitwood/WPA Pool/Getty Images)

The company, based in New York City, also plans to fold its biosimilar portfolio into its oncology and inflammation and immunology units.

Pfizer Inc. expects a significant reduction in the impact of patent protection losses after 2020 following the loss of exclusivity for Lyrica in the U.S., which is anticipated to occur around December.

The reorganization will occur at the start of fiscal 2019.

(© Copyright 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s