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.
Pfizer Inc.: Working together for a healthier world™
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.
Pfizer Media:
Chris Loder
212-733-7897
christopher.loder@pfizer.com
or
Jilin Guoyuan Media:
SUN Jianguo
sunjinguo75@gmail.com
or
Pfizer Investor:
Suzanne Harnett
(212) 733-8009
suzanne.harnett@pfizer.com