Pfizer Inc. plans to keep its $3.2 billion-a-year consumer health business because the unit will be critical to selling prescription drugs that become over-the- counter products, Chief Executive Officer Ian Read said.
Pfizer Inc., the world’s largest drugmaker, put in place the last piece of its plan to refocus the company on developing new drugs, announcing it would start the separation of its animal-health business this month.
Pfizer Inc. Chief Executive Officer Ian Read received a 44 percent raise in total compensation last year to $25 million in his new role as head of the world’s largest drugmaker, according to a regulatory filing.
Pfizer Inc. Chief Executive Officer Ian Read said he is reviewing the possible sale or spinoff of four divisions with $18.3 billion in annual revenue, led by the company’s third-biggest unit, established products.
Ian Read , the new chief executive officer of Pfizer Inc. , plans to lower costs by closing labs and reducing research spending by as much as $3 billion as the company faces declining sales of its best-selling drug.
Pfizer Inc. said it set the annual base salary and target bonus of Chief Executive Officer Ian Read at $4.29 million, with additional payments in stock, options and long-term incentive awards to be disclosed in March.