NEW YORK - (BUSINESS WIRE)- Pfizer Inc (NYSE: PFE) today announced that it has combined operations with Wyeth following the closing of the acquisition yesterday. Pfizer is now a more diversified health care company, with product offerings in human, animal, and consumer health, including vaccines, biologics, small molecules and nutrition across the developed and emerging markets. It has medicines in numerous growing therapeutic areas, a robust pipeline, premier scientific and manufacturing capabilities and a leading global presence.
“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.”
Operational Integration and Readiness
Since the acquisition agreement was announced in January, integration teams at Pfizer and Wyeth have worked diligently to ensure that the combined company is fully operational immediately upon the closing of the transaction. To further advance these objectives, Pfizer previously announced a new approach to research and development and an enhanced commercial operating structure, and named select leaders to posts that became effective upon closing of the acquisition. As a result of these actions, Pfizer will begin to capitalize on the benefits offered by the combination with Wyeth starting immediately.
“Our ability to close this transaction in such a timely manner and be operational on ‘Day One’ is a true testament to the dedication of the integration teams at both companies,” said Pfizer Chief Financial Officer Frank D’Amelio, who is leading the integration. “Because business continuity was our primary objective throughout the integration process, our leaders and colleagues are in a position to quickly build on Pfizer’s solid financial foundation, operational discipline and diverse product base to continue to improve our performance.”
Strengthened and Diversified Portfolio
Pfizer now has a broad and diversified global product portfolio, with leadership in virtually all key high-growth therapeutic areas. The combined company has strengthened capabilities in biotechnology, vaccines, consumer healthcare, nutrition and animal health. Pfizer is well positioned for consistent and stable top-line and adjusted diluted EPSi growth over the short and long term. It is expected that no drug will account for more than 10 percent of the combined company’s revenue in 2012.
The combined company has a robust and growing pipeline of biopharmaceutical development projects to help patients in critical areas, including Alzheimer’s disease, oncology, pain, neuroscience, diabetes and inflammation. The combination of top scientists from both companies, as well as leading scientific and manufacturing capabilities, and a global network of proof-of-concept clinical development centers, has greatly enhanced the company’s ability to innovate.
Read more at:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20091015006478&newsLang=en
No comments:
Post a Comment