Pfizer and Hisun launch Hisun-Pfizer Pharmaceuticals venture

Pfizer has allied with Zhejiang Hisun Pharmaceuticals to launch a new joint venture called Hisun-Pfizer Pharmaceuticals, which will create a range of off-patent drugs.

The new venture will specialise in high-quality and low-cost branded generic medicines – one of the fastest-growing segments in the global pharmaceutical industry – and will serve both the Chinese and global markets.

This alliance takes advantage of Hisun's strong product portfolio, broad market outreach and experience in the field of generics, as well as Pfizer's world-class research and development capabilities and global reach.

It is one of the first joint ventures between a multinational pharmaceutical company and a leading Chinese pharmaceutical company specialising in branded generics.

Olivier Brandicourt, president and general manager of Pfizer's emerging markets and established products business units, said: "We are confident that our joint venture will allow both companies to build upon existing core capabilities and our respective areas of expertise to address the needs of more patients than ever before."

Earlier this week, it was announced that Pfizer will be collaborating with SFJ Pharmaceuticals to develop a new treatment for non-small cell lung cancer.