Pfizer agrees MoU with Chinese firm

Pfizer has signed a memorandum of understanding (MoU) with Shanghai Pharmaceuticals Co that includes selling and distributing an unnamed Pfizer product in China. 

The companies plan to explore future co-operation 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. 

David Simmons, president and general manager, emerging markets and established products of Pfizer, said: "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." 

Shanghai Pharmaceutical has been one of Pfizer's major partners in China for years and is its largest distribution customer in the market.