PHARMACY

Pfizer decides against splitting Essential Health, Innovative Health divisions

BY David Salazar
NEW YORK — After a period of evaluation, Pfizer announced Monday that its board of directors and executive leadership team had decided not to split the company into two separate companies, Pfizer Innovative Health and Pfizer Essential Health. The two will remain separately managed units within Pfizer. 
 
“We believe that by operating two separate and autonomous units within Pfizer we are already accessing many of the potential benefits of a split — sharper focus, increased accountability, and a greater sense of urgency — while also retaining the operational strength, efficiency and financial flexibility of operating as a single company as compared with operating as two, separate publicly traded companies,” Pfizer chairman and CEO Ian Read said. “We will continue to generate the financial information necessary to preserve our option to split our businesses should factors materially change at some point in the future.”
 
The company evaluated the performance of both businesses, and they both demonstrated the ability to compete on a standalone basis, but according to Pfizer EVP business operations and CFO Frank D’Amelio, “In our analysis, we concluded that splitting into two companies at this time would not enhance the cash flow generation and competitive positioning of the businesses and the operational disruption, increased costs of a split and inability to realize any incremental tax efficiencies would likely be value destructive.”
 
Instead, Pfizer said it’s poised to grow the both the Innovative Health and Essential Health Business, and over the past years has improved the Essential Health business’s research and development capability, among other efforts to maximize its R&D investments’ value. Since 2010, Pfizer has received 20 new drug approvals. 
 
Similarly, the company said its Essential Health division has been strengthened by the completed acquisition of Anacor and its pending Medivation acquisition. This division was also bolstered by acquisitions of Hospira and Innopharma, as well as the pending acquisition of AstraZeneca’s small molecule anti-infectives business. 
 
Pfizer said that since 2010, it has captured approximately $32 billion from the disposition of its Capsugel and Pfizer Nutrition businesses, and its Animal Health business spinoff’s IPO and share exchange returned $88.1 billion to shareholders. The company said it will more fully allocate indirect expenses for each of the two business by including estimates of the dollar value of these expenses, starting with quarterly financials for Q1 2017. 
 
Read said this course of action “is currently the best structure to continue to deliver on our commitments to patients, physicians, payers and governments, and to drive value for our shareholders.”
 
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Ajanta launches generic Zegerid

BY David Salazar
BRIDGEWATER, N.J. — Ajanta Pharma on Monday launched its generic of Zegerid (omeprazole and sodium bicarbonate) powder for oral suspension. The drug is indicated to treat gastroesophageal reflux disease (GERD), ulcers and inflammation of the esophagus. 
 
Ajanta’s generic with be available in 20- and 40-mg omeprazole/1680-mg sodium bicarbonate dosage strengths. 
 
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Health Mart ‘Resolves to Evolve’ in latest Town Hall CE series

BY Michael Johnsen

SAN FRANCISCO – In an effort to help independent pharmacies level the playing field so they can compete and grow their businesses, Health Mart announced Monday the kick off to its fourth Town Hall CE series with events Birmingham, Ala., and Oak Park, Ill.

“Health Mart is committed to delivering the insights and resources that help our pharmacists stay up to date on the market dynamics impacting independent pharmacy,” stated Crystal Lennartz, chief pharmacist, Health Mart. “The last few Town Hall series focused on understanding quality measures and implementing med sync to improve patient care and streamline their operations. Now, it’s about committing to action with a focus on improving their clinical, operational, and financial performance for the health of their business and their patients.”

The new “Resolve To Evolve: Maintaining Profitability and Advancing Care in a Changing Pharmacy World” events will help pharmacies increase efficiency, profitability and improve patient health outcomes that capture payer dollars.

Featuring 18 highly successful Health Mart owners, the Resolve to Evolve workshops will help attendees recognize how a planned and measurable approach is key to evolving their business model to maintain profitability. In the interactive peer-to-peer sessions, attendees will exchange valuable strategies about med sync, change management, and more with peers. Based on their goals, they will develop action steps to implement back in their pharmacy and learn how to motivate change with their staff.

All independent pharmacy owners, pharmacists and techs are invited.

All told, Health Mart will host nearly 90 events across the country through early 2017.  Over the past four years, Health Mart has hosted more than 300 peer-to-peer Town Hall meetings to help members understand the market dynamics impacting independent pharmacy.

In addition to this latest Town Hall series, Health Mart has invested heavily in helping pharmacies to stay ahead of the curve as the industry continues to go through rapid change with the Health Mart Pathway to Better Pharmacy Performance and Profit. Launched at McKesson ideaShare 2016, the Health Mart Pathway offers a strategic road map to help independent pharmacies shift the way they approach their clinical and financial performance and pharmacy operations. Detailing a pharmacist approved, realistic process for members to make practical changes to their business to enhance their profitability, the Health Mart Pathway also recommends the resources, tools and expert advice pharmacies need to build a successful future.

myHealthMart, which launched in conjunction with the Health Mart Pathway, is an online portal that enables pharmacies to proactively manage their business by providing access to personalized, up-to-date data, programs and insights for their pharmacy. The online tool provides a complete picture of their pharmacy’s clinical and business performance and one-stop access to Health Mart programs and resources. Personalized reports and dashboards enable pharmacies to see how their decisions are impacting their business, and setting custom goals helps track their progress towards business growth and performance targets. myHealthMart provides centralized, one-click access to educational, clinical and marketing resources and allows customers to explore new opportunities for their pharmacies in the program store. In addition, real-time notifications keep customers up to date on the information they need to know to deliver better patient outcomes and strengthen their competitive position.

“We understand that the changes asked by this evolving industry can often be difficult, and we want to help by providing independents with opportunities to share ideas with peers, and with information and resources that will help them implement change in their pharmacies and with their staff," noted Steve Courtman, president Health Mart. "Ultimately, the foundation of Health Mart’s strategy is to help our members perform their best clinically and implement innovative practices that ensure the viability and prosperity of their business for years to come.”

Health Mart is the largest independent pharmacy network with more than 4,700 locally owned community pharmacies across all 50 states.
 

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