Hisun-Pfizer has an aggregate investment of USD 295 million and a registered capital of USD 250 million. Hisun holds 51% of the share and Pfizer holds 49%. The registration facilities and production plants of the joint venture will be located in Fuyang, Zhejiang province, while the Management Center and R&D Center will be located in Shanghai and Hangzhou, respectively. The parties will contribute select existing products to the joint venture, which will have a broad portfolio covering cardiovascular disease, infectious disease, oncology, mental health, and other therapeutic areas. The parties will also contribute manufacturing sites, cash and other relevant assets. The joint venture aims to build a robust sales network that covers most areas and hospitals in China and to enter the international market by leveraging on Pfizer’s global business networks.
"We are confident that our joint venture will allow both companies to build upon existing core capabilities and our respective areas of expertise to address the needs of more patients than ever before,” adds Olivier Brandicourt, President and General Manager of Pfizer’s Emerging Markets and Established Products Business Units. “This partnership further supports the government of China’s goals for improved access to medicines and treatments for the patients of China.”
About Zhejiang Hisun Pharmaceuticals
Founded in 1956, the vision of Zhejiang HISUN Pharmaceuticals Co., Ltd. (stock code 600267)(hereinafter called “HISUN”) is to become “a widely respected international pharmaceutical company” by advancing its mission of “persisting in pharmaceutical innovation for the benefit of human beings.” It focuses on the integration of pharmaceutical research and development (R&D) with production resources in order to provide its global customers with outstanding products and services. To date, over 40 of the company's products have passed certification by the FDA (U.S.), EDQM (EU), TGA (Australia), KFDA(Korea), etc., and are sold in more than 30 countries worldwide. To learn more about Hisun, please visit http://www.hisunpharm.com/.Pfizer Inc.: Working together for a healthier world™ At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world’s best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world’s leading biopharmaceutical company, we also collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more about our commitments, please visit us at www.pfizer.com. PFIZER DISCLOSURE NOTICE The information contained in this release is as of September 13, 2012. Pfizer assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments. This release contains forward-looking information about the launch of a joint venture company, Hisun-Pfizer, including its anticipated performance. Such information involves substantial risks and uncertainties including, among other things, the uncertainties and variables inherent in research and development; the uncertainties and variables inherent in business operating and financial performance, including, among other things, competitive developments and general economic, political, business, industry, regulatory and market conditions; and the other risks and uncertainties set forth in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and in its reports on Form 10-Q and Form 8-K. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50406918&lang=yy
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts