Pfizer Animal Health and Jilin Guoyuan Animal Health Company, an innovator in animal vaccines based in Huinan, have announced an agreement to jointly develop, manufacture and distribute animal health vaccines in China. The new joint venture, Jilin Pfizer Guoyuan Animal Health, will bolster the capabilities of both companies to offer a comprehensive range of vaccine products.
Pfizer Guoyuan Animal Health will focus initially on developing vaccines to protect swine. Vaccines for swine have high growth potential as China is the world’s leading pork producing nation, with more than 600 million pigs. The joint venture provides a strategic platform for growth in China, a $3.4 billion animal health market and the second largest worldwide with an expected compound annual growth rate of approximately ten percent. The animal vaccine market in China is valued at $800 million per year.
“The Pfizer Guoyuan joint venture affirms our commitment to invest in and expand our research and development capabilities in China,” said Juan Ramón Alaix, president, Pfizer Animal Health. “We view China as a global center for innovation. Guoyuan, with its strong vaccine development program and scientific expertise, and newly completed manufacturing capacity in the Huinan Economic Development Zone in Jilin, makes the company the optimal partner for Pfizer Animal Health.”
Hua Wu, general manager of Jilin Guoyuan Animal Health, said the new joint venture begins operations from a position of strength. “Pfizer complements Guoyuan with its world class research and development, manufacturing, regulatory and operational expertise as well as its growing field force and customer base in China. I believe that Pfizer Guoyuan is well positioned to become the leading innovator of animal health vaccines and the partner of choice for China’s rapidly expanding animal agriculture industries.”
Terms of the agreement were not disclosed. The joint venture is subject to approval by government authorities in China.
Source: Pfizer Animal Health