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Pfizer Inc. (PFE) Eyes Tie-Ups With More Chinese Drugmakers; Will Ally With Zhejiang Hisun to Invest $545 Million in Generic Drug JV


2/21/2012 6:39:51 AM

February 20, 2012 -- Pfizer and Zhejiang Hisun Pharma will put $545 million of assets into their branded generics JV. The investment will consist of off-patent drugs, manufacturing sites and cash. Hisun will contribute $295 million of these assets for a 51% stake in the JV, while Pfizer’s portion will be $250 million for the remaining 49%. The two companies signed a MOU to set up the JV in June 2011, and they have now made progress by approving a framework agreement and releasing the financial commitments of each party. More details....

Stock Symbols: (NYSE: PFE) (SHA: 600267)


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