Pfizer, the top pharma company entered in a business merger agreement with Zhejiang Hisun Pharmaceuticals to launch of Hisun-Pfizer Pharmaceuticals, a joint venture formed between the two companies to develop, manufacture and commercialize off-patent pharmaceutical products in China and global markets.
Off-patent medicines, including branded generics, represent one of the fastest-growing segments in the global pharmaceutical market.
The business merger venture, Hisun-Pfizer has an aggregate investment of USD 295 million and a registered capital of USD 250 million.
Hisun holds 51% of the share and Pfizer holds 49%.
The parties will contribute select existing products to the joint venture, which will have a broad portfolio covering cardiovascular disease, infectious disease, oncology, mental health, and other therapeutic areas.
The parties will also contribute manufacturing sites, cash and other relevant assets.
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