Pfizer Inc. (PFE) and Zhejiang Hisun Pharmaceuticals announced the launch of Hisun-Pfizer Pharmaceuticals Co., Ltd., a joint venture formed between the two companies.
Hisun-Pfizer has an aggregate investment of $295 million and a registered capital of $250 million. Hisun holds 51% of the share and Pfizer holds 49%. Hisun-Pfizer plans aims to provide high-quality and affordable branded generic medicines for patients in China and global markets.
Both the companies stated that Hisun-Pfizer will take advantage of Hisun's strong product portfolio, broad market outreach and experience with the production and commercialization of branded generic medicines.
The joint venture will also benefit from Pfizer's R&D, manufacturing quality management, international market promotion and operational capabilities. It will focus on R&D and production and commercialization of branded generic medicines, and broader commercialization of existing medicines.
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