Pfizer (PFE) to Cut U.S. Sales Organization by Approximately 20%

November 28, 2006 4:37 PM EST

Pfizer (NYSE: PFE) announced that it will realign its U.S. sales organization. The company will reduce the U.S. sales organization by approximately 20%, while maintaining strong support for all of its in-line products, including Lipitor, Celebrex and Geodon, as well as important new products such as Lyrica, Exubera, Chantix and Sutent.

Pfizer announced in mid-October that it would undertake a comprehensive review of every aspect of its company-wide operations with the goals of being more agile, effective and capable of best ensuring success today and in the future. In January, Pfizer will present its long-term outlook and its additional actions for transforming the company.

Ian Read, president of Pfizer Worldwide Pharmaceutical Operations, said, "The U.S. sales organization has done an outstanding job this year. At the same time, it is incumbent upon us to look ahead and carefully assess our changing marketplace and all the factors affecting our outlook, so that we can align our organization to properly support our key products and customer needs."

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