Pfizer by 2014 will isolate its high-value branded products from those nearing the end of patent protection or already off-patent by splitting the company into three new business segments.

The decision follows the spin-out of its animal health unit as Zoetis, and the sale of its infant formula business to Nestle for $11.9 billion. It also follow the spin-out of Abbott Laboratories’ research-based pharmaceutical unit into a free standing company, AbbVie, a reflection of companies seeking to maximize the value of assets trapped within larger organizations and attempting to create more agile business structures.

One segment of the reorganized Pfizer will include products across multiple therapeutic areas including inflammation and immunology, cardiovascular/metabolic, neuroscience and pain, rare diseases and women’s/men’s health. Geno Germano, group president of Innovative Products Group, will lead the division, which will consist of products with patents that expire after 2015.

A second business segment will include vaccines, oncology and consumer healthcare. Amy Schulman, group president of Vaccines, Oncology and Consumer Healthcare, will lead the unit, which will also consist of products with patents that expire after 2015.

The third business segment will focus on lower-cost, high-value products that have gone off patent or will lose patent protection in major markets by the end of 2015. John Young, group president of Value Products Group, will lead the unit, which will have products that generate strong, consistent cash flow. Biosimilars and current and future established collaborations, such as Pfizer’s partnerships with Mylan in Japan, Teuto in Brazil, and Hisun in China, will also be folded into the unit.

Each of these businesses will operate as a separate global business and require distinct specialization in terms of the science, talent, and market approach required to deliver value to consumers and patients, the company said.