US drugmaker Pfizer has announced the executive leadership team for the combined Pfizer and Allergan business following the closure of the proposed deal.
Brent Saunders will become President and Chief Operating Officer of the combined company with responsibility for the oversight of Pfizer and Allergan's combined commercial businesses, manufacturing and strategy functions.
Pfizer's Global Innovative Pharma (GIP) business and its Vaccines, Oncology and Consumer (VOC) business will operate separately under the leadership of Albert Bourla, currently Group President, VOC. After the closure of the deal, the Vaccines and Oncology businesses will be combined with the GIP business, and Bourla will become Group President, Global Innovative Pharma, leading all of these businesses.
The combined company will also create a new operating segment, Global Speciality and Consumer Brands, that will include Pfizer's Consumer Healthcare unit and Allergan's ophthalmology and aesthetics businesses, in addition to Botox Therapeutic and Cosmetic. Bill Meury, currently Executive Vice President and President Branded Pharma at Allergan, will become Group President, Global Speciality and Consumer Brands, Pfizer.
Pfizer will continue to manage the combined company's commercial operations through two distinct businesses: Innovative Products and Established Products.
The Innovative Products business will comprise the Global Innovative Pharmaceutical and the Global Speciality and Consumer Brands segment. The Established Products business will continue to be led by John Young, and consist of the Global Established Pharmaceutical segment, including all legacy Hospira commercial operations.
We are creating an executive team that has deep industry knowledge, a proven track record of success and an unwavering commitment to the patients we serve
After the deal closes, the following executives will be members of the company's executive leadership team, reporting to Brent Saunders: Albert Bourla, Group President, Global Innovative Pharma; Tony Maddaluna, Executive Vice President, President Pfizer Global Supply; Bill Meury, Group President, Global Speciality and Consumer Brands; Laurie Olson, Executive Vice President, Strategy, Portfolio and Commercial Operations; and John Young, Group President, Global Established Pharma.
The following Pfizer executives are continuing in their roles and will report to Ian Read, Pfizer Chairman and Chief Executive: Frank D'Amelio, Executive Vice President, Business Operations and Chief Financial Officer; Mikael Dolsten, President, Worldwide Research and Development; Chuck Hill, Executive Vice President, Worldwide Human Resources; Rady Johnson, Executive Vice President, Chief Compliance and Risk Officer; Doug Lankler, Executive Vice President, General Counsel; Freda Lewis-Hall, Executive Vice President, Chief Medical Officer; and Sally Susman, Executive Vice President, Corporate Affairs.
'We are creating an executive team that has deep industry knowledge, a proven track record of success and an unwavering commitment to the patients we serve. I look forward to working with these outstanding leaders to achieve the full potential of this combination and fulfil our mission of becoming the premier biopharmaceutical company in our industry,' said Read.
'We are designing the combined company to preserve and enhance our option to potentially separate the innovative and established businesses into separate companies in the future, and continue to expect to make a decision about any potential separation by no later than the end of 2018.' Pfizer also announced that Geno Germano, Group President, Global Innovative Pharma Business, will be leaving the company.
Pfizer and Allergan will continue to operate as two separate companies until the close of the transaction, which is expected in the second half of this year, and is subject to certain conditions, including: receipt of regulatory approval in the US and European Union; the receipt of necessary approvals from both Pfizer and Allergan shareholders; and the completion of Allergan's pending sale of its generics business to Teva Pharmaceuticals Industries.
