Dance With Domestic Companies: Pfizer And Merck Look To Broaden Market Access In China Via JVs
This article was originally published in The Pink Sheet Daily
Merck/Simcere, Pfizer/Hisun launched JVs in China this week to increase sales in outlying cities.
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NANJING, China - A few weeks after Merck & Co.'s China affiliate MSD and one of China's leading drug makers Simcere Pharmaceutical Group announced a new joint venture to expand access to critical lifestyle drugs across China, the two companies unveiled more details to their innovative partnership
SHANGHAI - Nanjing, China's Simcere Pharmaceutical Group reported a slowdown in sales for the second quarter, pointing to intense competition from the spread of Anhui province's tender model for essential drugs and price cuts on products included in the National Drug Reimbursement List
Pfizer China Country Manager Wu Xiaobing And General Manager For Commercial And Diversified Business Kevin Xiao On Expansion To Rural Markets In China: An Interview With PharmAsia News
China recently announced it will increase its total healthcare funding for ongoing healthcare reform from RMB 850 billion ($124 billion) to RMB 1.134 trillion ($173 billion) to build up its basic medical infrastructure and expand reimbursement to more than 800 million rural residents. Pfizer Inc., the world's largest pharmaceutical company, began its geographic expansion in China seven years ago. Last year the company launched its "Spring Bud" program to expand training for rural doctors to expedite the company's entry into China's rural markets. The project initially covered the five provinces of Zhejiang, Yunnan, Fujian, Jilin and Shandong, and will now be expanded to include Guangdong, Guangxi, Sichuan, Liaoning, Henan and Hunan. In addition, Pfizer will sponsor training programs in more than 1,000 country hospitals in rural areas this year.