Pfizer MD set for a global role with parent company

Drugmaker Pfizer’s Managing Director Aijaz “Jazz” Tobaccowalla, who has overseen mergers and more in the Indian market, is set to step into a new global role with the US parent company.

Though Tobaccowalla has been offered a new global role that he intends to take, he will continue as Pfizer’s MD till a successor has been appointed, the company told the stock exchange.

“Jazz” as he is popularly referred to took charge in India in 2012. And in the last three years, he has overseen the mega global merger of Wyeth into Pfizer. In November 2013, the company announced its decision to merge Wyeth with Pfizer to project a single entity. This was about five years after Pfizer acquired Wyeth globally for $68 billion.

In India, Pfizer then had 2,500 employees and Wyeth 480, and the combined entity’s ranking was to get bumped up into India’s top 10, from the earlier positions of 18th and 28{+t}{+h}, Tobaccowalla had then said. The company’s present turnover stands at Rs.1,853 crore. Business Line