In July, Amy Schulman looked to be one of the most powerful women in Big Pharma. As part of CEO Ian Read's plan to split Pfizer's ($PFE) internal operations into three distinct units, he tapped Schulman to lead the company's vaccines, oncology and consumer healthcare business.
Now, Schulman is out. She won't take over that newly created unit in January--and she's relinquishing her role as general counsel and executive team member immediately. Whether by her own choice, or Pfizer's, isn't public.
The company's announcement is a terse, yet studiously polite, disclosure of Schulman's departure. "By mutual agreement, Amy Schulman steps down," the release begins, later stating, "Amy Schulman and Pfizer have agreed to separate." The company goes on to "thank Amy for the past 5 years of hard work" and wish her well "in her future endeavors."
Some investors on Twitter and other venues were surprised to see that: i) branded generics (what PFE calls “Established Products”) comprised 53% of PFE’s overall sales in 1Q14; and ii) this business had a much higher profit margin than PFE’s branded-drug business.
These figures come from PFE’s 1Q14 PR:
For readers of this board, it should not be a revelation that branded generics are the future of Big Pharma :- ) See, for instance, #msg-61960541, #msg-66847069, and #msg-66595029.
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