The latest movefollows Pfizer's decision in December to separate itsconsumer-health business in a joint venture with GlaxoSmithKline.(Photo: AP)
Pharmaceutical behemoth Pfizer Inc. has transformed itself undernew leadership through a series of spinouts and joint ventures,mitigating risk by placing some units at arm's length whilecontinuing to reap rewards from them.
Chief Executive Officer Albert Bourla, 57, who took the helm inJanuary after serving as the drugmaker's operations chief, hasrapidly transformed the company through a new deal-making strategy. His next majorstep is a plan to combine Pfizer's less-lucrativeoff-patent drug business with Mylan NV to form a generic-druggiant.
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