Pfizer Inc, the world’s largest research-based pharmaceutical company, has announced that it is going to reorganize its own business model. According to the management, before the end of the year it will be decided to set up a unit that produces drugs, which do not require prescriptions. Such drugs belong to the category of consumer medicines.
Pfizer will work in three main areas – the production of innovative drugs, consumer medications (including those that are sold without a prescription) and the company’s main drugs, including Viagra and Lipitor. According to the reports, innovative and consumer medicines bring the company 3/4 of its total revenue. So the upcoming changes look quite logical. Changes in the work scheme will occur next year.
Management is seriously working on developing the business of consumer products, for which a prescription is not needed. There have been discussions for several months and if differences persist, the sale of business may become the final decision.
Pfizer recently stated that the increase in the medicine tariffs would be postponed. This will give the government time to implement a health reform. In a sense, US President D. Trump had a hand in this pause. He held a meeting with the company’s CEO Chris J. Reed.
This year, the value of the company has increased by 3% and amounted to 219 billion US dollars. But during the bidding process on Wednesday, the company’s shares fell by almost 0.5 %.
The material was prepared with the participation of Anjela Chromova,
a leading analyst of the brokerage company CT Trade