Pfizer Research Head Will Retire; Finance Chief Quits

Pfizer Inc., the U.S. drugmaker that replaced its chief executive officer and vice chairman in the last year, said John LaMattina, global head of research, will retire and Alan Levin resigned as chief financial officer.

LaMattina, 57, was responsible for bringing in new products to replace the world's best-selling medicine, Lipitor, which loses patent protection in 2010. He'll leave before year's end, New York-based Pfizer said today. Spokesman Ray Kerins declined further comment.

CEO Jeffrey Kindler took over last year from Hank McKinnell and shook up the management of the world's largest drugmaker. Pfizer plans to fire 10,000 workers as generic copies of its top- selling drugs cut into sales. The company stopped work on its most-promising new product, cholesterol-reducing torcetrapib, in December after patients died during a study.

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- Posted: 2007-05-21 08:18:05

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