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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
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» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
COMPANY NEWS » TOP 50 Pharmas » Pfizer back to previous page show list
Pfizer »08/03/2008 [Company watch]
Pfizer plans to cut costs and expand in China

Pfizer says it is planning to outsource more drug manufacture, to lower costs ahead of the generic competition for its cholesterol drug Lipitor, and to continue expansion broadly in China. Lipitor's patent expires at the end of 2011. At the same time Pfizer reaffirmed its profit forecast for 2008 with anticipated revenue of $48.08 Billions.

 

Pfizer said it wants to boost market share in Asiafrom its current 4% to 6% by 2012 and will expand operations in China from the 110 cities currently served to more than 650 cities.

The company also confirmed the numbers of experimental drugs in its pipeline from mid to late satge testing will range from 15 to 20 by the end of 2009.  To stave off generic competition, at the same time, it will grow its Phase 3 programs by 50 to 75% to between 24 and 28 programs from the current 16.

It also confirms it is speeding up clinical development on 20 programmes but will terminate 24 clinical and pre-clinical programmes to reinvest in high value areas.

Pfizer says it has 26 biotec drugs spanning 8 treatment areas and aims to become a top tier biotherapeutics company.  It will also form a new business unit to focus solely on cancer drugs


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