Shanghai Pharmaceutical and Pfizer have signed a memorandum of understanding for the companies to jointly pursue potential business opportunities in China.
Shanghai Pharmaceutical is a national pharmaceutical company headquartered in Shanghai. It has three primary businesses: research and development (R&D), the manufacture and sale of pharmaceutical and healthcare products, and pharmaceutical distribution and supply-chain operations. The companies are exploring a potential cooperation for the registration, commercialization, and distribution in China of an innovative Pfizer product. In addition, the companies plan to explore future cooperation opportunities, including further distribution and commercialization, R&D activities, manufacturing, and equity-investment opportunities. The companies also expect to strengthen their existing cooperation for the promotion of Pfizer’s Prevenar (7-valent) a pneumococcal conjugate vaccine, approved for use in China for the active immunization of infants and toddlers for the prevention of invasive diseases caused by the bacterium Streptococcus pneumonia.
“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,” said David Simmons, president and general manager of emerging markets and established products at Pfizer, in a Pfizer press release. “Shanghai Pharmaceutical has been one of Pfizer’s major partners in China for years and is currently our largest distribution customer in the market.”
Details of the companies’ various areas of potential cooperation under the strategic partnership will be set forth in future definitive agreements.