Today Pfizer has combined operations with Wyeth following the closing of the acquisition yesterday…
By Joan Campion & Edited by Militza Richard
Wyeth is now a wholly owned subsidiary of Pfizer Inc. According to Pfizer, the acquisition makes the company more diversified as it can now offer products in human, animal, and consumer health, including vaccines, biologics, small molecules and nutrition across the developed and emerging markets. The company also has medicines in therapeutic areas as well as excellent development and manufacturing capabilities.
“Pfizer’s newly strengthened company will have some of the best assets, people, pipeline and capabilities in the industry,” said Jeffrey B. Kindler, chairman and chief executive officer of Pfizer. “We have a clear responsibility to turn those strengths into meaningful results for patients, customers and the communities we serve, as well as for our shareholders. We will measure our success through our company’s new commitments, which include advancing wellness, prevention, treatments and cures that serve the world’s diverse health needs, while maximizing our financial performance.
“We are pleased to welcome our talented new colleagues from Wyeth to Pfizer, including many first-class scientists and business leaders,” Mr. Kindler added. “We are proud that our new and existing colleagues possess all of the highly valuable skills and experience essential to every aspect of our business, and share our passion for improving health and well-being at every stage of life.”
The product diversity provided by the acquisition means Pfizer is well positioned for the future. It is expected that no drug will account for more than 10 percent of the combined company’s revenue in 2012.
The company is now organized into two groups to better handle the different aspects of healthcare. The Biopharmaceuticals Business units are Emerging Markets, Established Products, Oncology, Primary Care and Specialty Care, which includes vaccines. The Diversified Businesses are Animal Health, Capsugel, Consumer Healthcare and Nutrition.
For more information please visit www.pfizer.com .