Pfizer announces new leadership team ahead of Allergan merger

Pfizer has provided details of how its leadership team will be reorganised following the completion of its planned merger with Allergan.

Ian Read will remain as chairman and chief executive officer of Pfizer, while Allergan boss Brent Saunders will become president and chief operating officer of the combined company, overseeing commercial businesses, manufacturing and strategy functions.

Pfizer's global innovative pharma business and its vaccines, oncology and consumer unit will operate separately under the leadership of Albert Bourla, until the closing of the transaction, at which point they will be merged.

A new operating segment named global specialty and consumer brands will also be set up, encompassing Pfizer's consumer healthcare unit and Allergan's ophthalmology and aesthetics businesses and Botox brands. Bill Meury will lead this business.

The firm will continue to manage its commercial operations through an innovative products business and an established products unit, with the latter led by John Young. Geno Germano, president of the global innovative pharma business, will be leaving the company.

Mr Read said: "I look forward to working with these outstanding leaders to achieve the full potential of this combination and fulfill our mission of becoming the premier biopharmaceutical company in our industry."