Pfizer eyes tie-ups with Japan firms
Tuesday, 2 February 2010
TOKYO, Feb 1 (Reuters): US pharmaceutical giant Pfizer Inc may tie up with one or more generic drug makers in Japan as it targets demand in the growing market, which it plans to enter after 2010, an executive at its Japan unit said.
Hiroshi Matsumori, corporate officer at Pfizer Japan, told the reporter in an interview that Pfizer would capitalise on its brand name and business expertise in Japan to compete with rivals such as Israel's Teva Pharmaceutical Industries.
Japan's government is promoting greater use of generic drugs to help lower spending on healthcare as the population ages, prompting firms like Pfizer and Teva, the world's No 1 generic drug maker, to enter a market seen growing to around $5 billion next year.
Teva started marketing its drugs in Japan last month, targeting a 10-per cent share of the Japanese market by 2015, while Pfizer will enter the market as early as next year as part of its global move to help offset a series of patent expirations on its key drugs.
"The biggest challenge for foreign players starting business in Japan, where standards are exceptionally high, is branding, which we have already achieved as a patent drug maker. We are completely different from those starting from scratch," Matsumori said.
Hiroshi Matsumori, corporate officer at Pfizer Japan, told the reporter in an interview that Pfizer would capitalise on its brand name and business expertise in Japan to compete with rivals such as Israel's Teva Pharmaceutical Industries.
Japan's government is promoting greater use of generic drugs to help lower spending on healthcare as the population ages, prompting firms like Pfizer and Teva, the world's No 1 generic drug maker, to enter a market seen growing to around $5 billion next year.
Teva started marketing its drugs in Japan last month, targeting a 10-per cent share of the Japanese market by 2015, while Pfizer will enter the market as early as next year as part of its global move to help offset a series of patent expirations on its key drugs.
"The biggest challenge for foreign players starting business in Japan, where standards are exceptionally high, is branding, which we have already achieved as a patent drug maker. We are completely different from those starting from scratch," Matsumori said.