Pfizer reorganizes to handle aging consumers and patents

NEW YORK - The drugmaker Pfizer, facing an aging population and shifting risks from the loss of patents, is reshaping its structure into three businesses.

The divisions, announced Wednesday, include Innovative Medicines, which will focus on biological science and a new hospital medicines business.

An Established Medicines business will include sales for older drugs like the cholesterol pill Lipitor that have lost patent protection. Lastly, the Consumer Healthcare business will handle over-the-counter medicines. Innovative Medicines will bring in most of the company’s revenue. Pfizer said the growth potential for that business is strong, due in part to an aging population that will create a growing demand for new medicines.