Pfizer Appoints Dai Wenjie as Head of Established Portfolio in China, Veteran of Sanofi, MSD, and Livzon
Pfizer
Pharmaceutical R&D Developer
Source: Yidu Medicine
At the start of 2023, a group of pharmaceutical companies made new adjustments to their organizational structures.Hengrui MedicineAfter the official announcement of Jiang Ningjun's introduction to the pharmaceutical industry, GSK,BeiGeneZai Lab, Organon and other pharmaceutical companies have announced important personnel appointments.(For details, see the report:Latest! Zai Lab Appoints Dr. Amado as President; Wu Zefa Takes Office as President of Organon China; Yu Jinyi Joins GSK; Fu Jiang'an Joins BeiGene）
As the world's largest pharmaceutical company, Pfizer, while busy with the刚刚开始的医保谈判, also announced significant personnel changes.On January 5, Pfizer announced that it would appoint Dai Wenjie as the head of its basic business in China.（Head of Established Portfolio）。
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New Personnel Appointments
In the appointment letter, Pfizer stated that more innovative products will be launched in the coming years. In order to focus more on the must-win and core products,Pfizer to Explore and Expand Third-Party Commercialization Collaboration Model for Mature Products。For mature products that are no longer strategically suitable for Pfizer to promote, the China Basic Business Unit led by Dai Wenjie will be responsible for their commercialization cooperation strategy and execution. Through compliant promotion with external third-party partners, it will help partners continuously enhance their commercial capabilities, efficient disease and patient education, and maximize the market potential of Pfizer’s mature products.
After assuming the new position, Dai Wenjie will report to the President of Pfizer China.Peng ZhenkeReport.This appointment officially takes effect on January 4, 2023. As for which products are Pfizer's mature products and which third parties will become Pfizer's commercial partners, these are Dai Wenjie’s primary focus after assuming the new role. Yidu Medicine will closely monitor Pfizer's business strategies and plans for cooperation with third parties.
Pfizer China Management Team
Public information shows that Wenjie Dai was just appointed as the General Manager of Pfizer's Inflammation and Immunology Division in January 2022. During this period, he successfully promoted the external commercialization projects of rheumatology products and Dynastat, transforming the team into a business unit focused on dermatology. He also successfully launched Cibinqo and completed significant milestones within the year.
Before joining Pfizer, Dai WenjieChina MedicineWith over 20 years of experience in the industry, he has held a series of positions, including National Sales Director, Marketing Director, and Marketing Manager. His resume shows that he has worked for major companies such as Sanofi, Merck, and Livzon Pharmaceutical Group.
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New Strategic Layout
From this appointment, Pfizer's strategic layout has taken on a new direction.It can be reasonably speculated that Pfizer will spin off a large number of mature products, retaining control over core patents and rights, while transferring the commercial sales mission of these mature products to third-party companies, thereby reducing a significant number of commercial-related positions.
It can be clearly seen that,"Focus" + "Flattening" has become the core主线 of Pfizer's frequent changes.Previously, Pfizer's global CEO Albert Bourla stated, "When we made this decision, we hoped to respond more quickly to the rapidly growing and changing market, integrate and connect our business lines, and strengthen accountability."
Review of Pfizer's Several Organizational Restructurings in the Past Few Years, from2018Annual spin-off of consumer healthcare and mature drug businesses, independently separating biopharmaceuticals, mature drugs, and consumer health.2019Officially changed the structure to three major business groups: Biopharmaceuticals, Upjohn, and Consumer Healthcare in [Year];2021In the year, a completely new organizational structure for the China region was adjusted, including six independent business units: hospital emergencies, oncology, rare diseases, inflammation and immunity, vaccines, and broad markets. Strategic innovation was also established as a brand-new department.2022The new CCiC Innovation Management Team was established in [Year].
Along with the organizational restructuring, there have been significant layoffs of sales representatives in Pfizer's operations in the United States, India, and other regions. Because of this, some industry insiders speculate that Pfizer's new round of organizational restructuring may foreshadow another wave of workforce optimization and adjustments in the China region.
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Strategic Adjustment for Innovation Only?
Pfizer's strategy seems simple and clear: divesting more of the lengthy non-core competitive businesses, continuously streamlining its core structure to focus solely on "innovation." Past performance also shows that this strategy has brought sufficient returns to Pfizer.
In terms of performance, according to Pfizer's previously released Q3 report of 2022, the company achieved revenue$22.638 billion. At the same time, Pfizer raised the lower limit of its 2022 financial guidance, expecting revenue for 2022 to be between $99.5 billion and $102 billion (previously estimated at $98 billion to $101 billion). As a global leader in the field of COVID-19 prevention and treatment,Pfizer Expects Oral MedicationpaxlvoidExpected to bring approximately$220 billionIncome. COVID-19 vaccine productsComirnatyExpected Revenue in 2022$34 billion。
From the proportion of Pfizer's revenue in various fields in the third quarter and its TOP7 revenue-generating products,COVID-19 products account for more than half of the revenue.The high-investment new product has brought substantial profits to the company and served as one of the major pillars supporting Pfizer's rapid transformation.
Previously PfizerPfizer CEO Albert Bourla once said,Pfizer Anticipates Revenue Loss of Up to $18 Billion from 2025 to 2030 Due to Expiring Patents on Key DrugsThe looming expiration of patents has further driven Pfizer to accelerate cost reduction and efficiency enhancement, focusing entirely on innovation. This is also reflected in its Q3 report.Pfizer's total cost of sales in the third quarter of 2022 was $6.063 billion.Year-on-year decrease39%。Pfizer's R&D expenses in the third quarter of 2022 increased by 2% in operational terms compared to the same period last year.
On one side, sales are contracting significantly, while on the other, R&D continues to grow. Pfizer, as a top-tier global pharmaceutical giant, offers strategic insights that many pharmaceutical companies can learn from. Streamlining teams at the right time while maintaining continuous innovation in R&D may be the key to corporate survival in the coming years.
Editor: Chang Fuqiang