Pfizer's Ambitions On Chinese Market
US drugmaker Pfizer's affiliate Pfizer China has said it wants to becomethe leading research-based pharmaceutical joint venture in China by 2000, according to the China Daily Business Weekly. The company aims to achieve this by importing the latest technological research and knowhow and by increasing the export volume of its products. Pfizer China was expected to invest the equivalent of $2 billion in R&D on new drugs in China in 1997.
The JV recently set up a new business center for Pfizer Pharmaceuticals Ltd in the Full Link Plaza in the commercial area of Beijing in order to improve services to its customers. PPL, with a registered capital of $50 million, was founded in 1989 by Pfizer and the Dalian Pharmaceutical Factory in Dalian, in China's Liaoning province.
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