The Hindu Business Line : Pfizer proposes new launches — Separate divisions for therapeutic segments set up

PFIZER Ltd, which is restructuring its products, plans to grow in the Indian market by launching new drugs from the parent company's portfolio and through product acquisitions.

Speaking to Business Line, Mr Kewal Handa, Managing Director, Pfizer, said: "We had begun our restructuring about a year ago and expect that it would take another six months for our initiatives to stabilise. The launch of Viagra is a step in that direction. In future, we hope to bring in many more new products from our global portfolio, besides a patented product by 2007."

He said the company has set up separate divisions for various therapeutic segments such as drugs for central nervous system, cardiovascular diseases, oncology, neurology and so. Each division would work like a separate business unit (SBU) and have separate profit and loss accounts. There will be a separate division for mature products too.

Pfizer is in the process of identifying gaps in its portfolio and filling them with products either from the international stable or through acquisitions. Mr Handa was, however, not willing to divulge details of the possible therapeutic areas where new products could be introduced. It would also work out strategies to promote poor-selling products too.

The company is confident of achieving a double-digit growth in India in 2006-07. "The industry's growth has slowed to 6-7 per cent but we expect to maintain a healthy double-digit growth from the existing portfolios and new launches," Mr Handa said.

Pfizer is also confident that its top grosser brands such as Becosule and Corex, which had a turnover of Rs 70 crore and about Rs 90 crore respectively during 2005, would continue to grow.

On the global front, Pfizer is developing a drug for female sexual dysfunction, after successfully selling 1.87 billion Viagra pills worldwide. Mr Peter Ellis, Executive Director, Pfizer Global Research and Development, said the company is working on three different molecules, which are at various stages of trial. One molecule is undergoing Phase II trials in the UK, the Netherlands and the Scandinavian countries while the other two drugs are in the Phase I trial stage.