Pfizer sees strong growth in China
Friday, 5 February 2010
HONG KONG, Feb 4 (Reuters): Pfizer Inc, the world's biggest drugmaker, said it expects its China business to grow by at least 25 per cent this year and is forging partnerships to increase its share of the nation's fast-growing pharmaceuticals market.
"(Pfizer's business in) China is growing by 25 to 28 per cent, while overall (growth) in emerging markets is 12 to 14 per cent," Jean-Michel Halfon, Pfizer's president of emerging markets for its biopharmaceutical business, told Reuters in an interview Thursday.
"The market will continue to grow fast in China because of the growing middle-class population and, more importantly, healthcare reforms the Chinese government has implemented," Halfon said. "We anticipate very strong growth there."
Pfizer identified China, Brazil, India, Mexico, Russia and Turkey as key emerging markets and regarded China as the most important. The company said it expected revenue in China to grow by at least 25 per cent in 2010.
"(Pfizer's business in) China is growing by 25 to 28 per cent, while overall (growth) in emerging markets is 12 to 14 per cent," Jean-Michel Halfon, Pfizer's president of emerging markets for its biopharmaceutical business, told Reuters in an interview Thursday.
"The market will continue to grow fast in China because of the growing middle-class population and, more importantly, healthcare reforms the Chinese government has implemented," Halfon said. "We anticipate very strong growth there."
Pfizer identified China, Brazil, India, Mexico, Russia and Turkey as key emerging markets and regarded China as the most important. The company said it expected revenue in China to grow by at least 25 per cent in 2010.