Thursday, April 13, 2023 12:08:30 PM
PFE: Pfizer collaborates with Sinopharm to expand in China
From: SA Breaking News @seekingalpha.com>
Date: Thu, Apr 13, 2023 at 11:18?AM
"Pfizer collaborates with Sinopharm to expand in China
Pfizer (NYSE:PFE) announced Thursday a strategic corporation agreement with Shanghai-based Sinopharm Group (OTCPK:SHTDF) (OTCPK:SHTDY) to expand its market presence in China.
Per the terms, the two companies will join hands to seek approval to market as many as 12 innovative drugs in China through 2025, Reuters reported citing a statement from New York-based Pfizer (PFE).
At the launch of the partnership in Shanghai, Sinopharm (OTCPK:SHTDF) president Liu Yong said that the collaboration aims to speed up the deployment of Pfizer’s (PFE) new treatments to patients.
Rival Merck (MRK) has a partnership with Sinopharm (OTCPK:SHTDF) to commercialize the oral COVID pill, molnupiravir, in China, while Pfizer (PFE) has joined hands with local drug maker Zhejiang Huahai to manufacture its oral therapy Paxlovid in the country."
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