Pfizer And Guoyuan Form Joint Venture To Expand Development, Manufacture And Distribution Of Animal Vaccines In China
MADISON, N.J., & HUINAN, China--Pfizer Animal Health, a business unit of Pfizer Inc. (NYSE: PFE), and Jilin Guoyuan Animal Health Company, Ltd., an innovator in animal health vaccines based in Huinan, today announced an agreement to jointly develop, manufacture and distribute animal health vaccines in China. The new joint venture, Jilin Pfizer Guoyuan Animal Health Co., Ltd., will bolster the capabilities of both companies to offer a comprehensive range of vaccine products tailored to help China’s livestock producers meet increasing demand for a safe and abundant supply of pork, beef, dairy, and poultry from healthy animals.
The animal vaccine market in China is valued at $800 million per year. Pfizer Guoyuan Animal Health will focus initially on developing vaccines to protect the health of swine. Vaccines for swine have high growth potential as China is the world’s leading pork producing nation, with an annual population of more than 600 million pigs. The joint venture provides a strategic platform for growth in China, a $3.4 billion1. animal health market and the second largest worldwide with an expected compound annual growth rate of approximately ten percent.2.
“The Pfizer Guoyuan joint venture affirms our commitment to invest in and expand our research and development capabilities in China,” said Juan Ramón Alaix, president, Pfizer Animal Health. “We view China as a global center for innovation. Guoyuan, with its strong vaccine development program and scientific expertise, and newly completed manufacturing capacity in the Huinan Economic Development Zone in Jilin, makes the company the optimal partner for Pfizer Animal Health.”
Dr. Hua Wu, General Manager of Jilin Guoyuan Animal Health Company, Ltd., added that the new joint venture begins operations from a position of strength. “Pfizer complements Guoyuan with its world class R&D, manufacturing, regulatory and operational expertise, its founding leadership in the International Veterinary Collaboration for China, a Veterinary Alliance, as well as its growing field force and customer base in China. I believe that Pfizer Guoyuan is well positioned to become the leading innovator of animal health vaccines and the partner of choice for China’s rapidly expanding animal agriculture industries.”
Terms of the agreement were not disclosed. The joint venture is subject to approval by government authorities in China.
The joint venture represents an important step in Pfizer Animal Health’s growth strategy and affirms the company’s commitment to help assure a safe, sustainable food supply from healthy food production animals by providing comprehensive animal health solutions.
For more information about Pfizer Animal Health, visit https://animalhealth.pfizer.com
About Jilin Guoyuan Animal Health Company
Jilin Guoyuan Animal Health Company was established in 2009 and is mainly engaged in R&D, manufacturing and sales of animal health biological products. Guoyuan has a strong and experienced management team and has set-up its manufacturing base in Huinan Economic Development Zone in Jilin, which includes a GMP certified production building, animal housing for quality testing, an administrative office building and other auxiliary buildings.
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At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world’s best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world’s leading Biopharmaceutical Company, we also collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more about our commitments, please visit us at www.pfizer.com.
PFIZER DISCLOSURE NOTICE: The information contained in this release is as of September 8, 2011. Pfizer assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments.
This release contains forward-looking information that involves substantial risks and uncertainties about an agreement between Pfizer Animal Health and Jilin Guoyuan Animal Health Company, Ltd. to form a joint venture in China, including its potential benefits and potential for future growth. Such risks and uncertainties include, among other things, the ability to obtain the required approval of the joint venture by government authorities in China and, with regard to the joint venture’s potential benefits and potential for future growth, the uncertainties and variables inherent in business operating and financial performance, including, among other things, competitive developments, general economic, political, business, industry, regulatory and market conditions, and the other risks and uncertainties set forth in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010 and in its reports on Form 10-Q and Form 8-K.