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Pfizer looks to expand R&D presence in Asia

Pfizer says it will expand its R&D activities in Asia, specifically China, India, Japan, and South Korea

US-based Pfizer has said that it will expand its R&D activities in Asia, specifically China, India, Japan, and South Korea, according to a Reuter's report.

The company's president of global R&D, Martin Mackay, revealed in the report that Asia was key to the company because its pharmaceutical market would grow to USD 200bn by 2017. He gave no further details of the expansion plans, but added that he was happy with the progress made by Pfizer's two-year old Shanghai R&D centre.

Pfizer says its ranked first in Asia pharmaceutical market sales for the 12 months to June 2007. The company has a manufacturing plant in the Chinese city of Dalian and has research collaborations with Peking University and Tsinghua University. It opened a research centre in Shanghai in 2005 and says it wants to expand clinical research activities globally, with nearly 80 studies ongoing.

Mackay told Reuters at an investors' meeting: "China is going to be really important to us; the Shanghai centre is going to be exceptionally important. We are looking at Korea, India and other countries."

The world's largest pharmaceutical company recently announced a USD 300m R&D investment in South Korea over the next five years to develop drugs and medical technology.

30th September 2008

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