(Reuters) – Pfizer Inc ( PFE.N ) said on Wednesday it would be reorganized into three units, separating its consumer health care business from the US pharmaceutical company. UU He has been trying to sell since last year.
The news comes a day after the company decided to defer no more than six months, following criticism from US President Donald Trump for increasing the list prices of some medications.
The units would be innovative medicines, established medicines and medical care for the consumer. Currently, the company is divided into two units: innovative medicines, which includes the consumer business and Essential Health.
"This design gives us a more precise focus on diverse patients in diverse markets," said Albert Bourla, director of operations.
The Innovative Medicines business will now also include biosimilars and a new hospital business unit, and together with the Consumer Health Care business, they will account for approximately three-quarters of the company's revenues. Pfizer's annual revenues in 2017 were $ 52.55 billion.
Pfizer said it would still evaluate options for its consumer healthcare business and expects to make a decision by 2018.
The company said in October last year that it was considering selling or spinning off the health care business to the consumer. consumer, which is worth approximately $ 15 billion. In May, Pfizer said it had not received an acceptable offer.
The business consists of products ranging from Advil to lip balms.
The Established Drugs unit would include most of the company's non-proprietary brands, which include Viagra and the treatment of Lyrica neurological diseases, as well as some generic drugs.
The changes would become effective at the beginning of fiscal year 2019.
Pfizer shares remained stable at $ 37.40 in pre-market operations.
Report of Manas Mishra in Bengaluru; Edition of Arun Koyyur and Sweta Singh