Pfizer Animal Health and animal vaccines manufacturer Jilin Guoyuan Animal Health Company, based in Huinan, China, will jointly develop, manufacture and market animal-health vaccines in the country.
The new joint venture, Jilin Pfi zer Guoyuan Animal Health, will increase the capabilities of both companies to offer a comprehensive range of vaccine products.
The firm will focus initially on developing vaccines to protect swine. Such vaccines have high growth potential as China is the world’s No. 1 porkproducing nation, with more than 600 million pigs.
China is a $3.4 billion animal-health market and the second largest in the world with an expected annual growth rate of approximately 10 percent. The animal vaccine market in China is valued at $800 million annually.
“The Pfi zer Guoyuan joint venture affirms our commitment to invest in and expand our research and development capabilities in China,” says Juan Ramón Alaix, Pfi zer’s president. “Guoyuan is the optimal partner for Pfi zer Animal Health.”