Pfizer signs Chinese commercial collaboration
pharmafile | May 9, 2011 | News story | Sales and Marketing | China, Pfizer, Shanghai Pharmaceutical Co
US giant Pfizer looks set to collaborate with Shanghai Pharmaceutical Co. on business opportunities in China.
The potential partnership is intended to leverage both companies’ strengths, matching Pfizer’s global capabilities in developing innovative medicines with Shanghai Pharmaceutical’s capabilities and reach in the China market.
The companies have signed a memorandum of understanding, and are currently exploring a potential co-operation for the registration, commercialisation and distribution in China of an innovative Pfizer product. In addition, the companies plan to explore future cooperation opportunities, including further distribution and commercialisation, research and development activities, manufacturing and equity investment opportunities.
The companies also expect to strengthen their existing co-operation for the promotion of Pfizer’s Prevenar (7-valent) a pneumococcal conjugate vaccine, approved for use in China for active immunisation of infants and toddlers for the prevention of invasive diseases caused by the bacterium Streptococcus pneumonia. Details of the companies’ various areas of potential co-operation under the strategic partnership will be set forth in future definitive agreements.
‘‘Our intent to explore a range of business opportunities with Shanghai Pharmaceutical is an example of our commitment to expand our presence in China in collaboration with the local industry,” said David Simmons, president and general manager, emerging markets and established products of Pfizer. “Shanghai Pharmaceutical has been one of Pfizer’s major partners in China for years and is currently our largest distribution customer in the market.”
‘‘From our first partnership discussion with Pfizer, we were impressed not only with their capabilities, but also their thoughtfulness toward the Chinese” market,” said Lu Mingfang, chairman of Shanghai Pharmaceutical.
‘‘The Chinese pharmaceutical market is very dynamic and we believe a company must be forward thinking to succeed in China. Shanghai Pharmaceutical is built off of a vision for what the Chinese healthcare market will become, not what it has been. We respect Pfizer’s global experiences and resources and believe they are an ideal partner for us in the continuous evolution of our business model and implementation of an international strategy.”
Andrew McConaghie
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