Pfizer betting big on Asia

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Updated: 18/03/2008 | 08:54 PM IST

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Rumi Dutta

Tuesday, March 18, 2008 (Mumbai)

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As the world's largest drug maker Pfizer braces for big losses of billions of dollars with its blockbuster cholesterol drug lipitor facing generic competition, the company is now turning to India and China for respite.

For the fist time, Pfizer's Asia revenues were higher than its US sales.

"We have launched an Asia strategy on how to best partner with Asian countries and companies. With a two fold strategy we will ensure that we take advantage of advanced infrastructure in this region for drug development,” said Jorge Puente, VP – Medical & Regulatory Affairs, Asia, Pfizer Inc.

So far Pfizer's key focus in Asia was Japan but now Pfizer plans to focus its research initiatives on disease areas common in Asia. The company’s new oncology center in California is scouting for Indian partners to jointly develop drugs for cancers common in Asia.

The company says its clinical trial programmes are expected to substantially increase in India besides its research and development investment in the country.

Clearly, as the giant reorganises its global portfolio of research programmes in order to reallocate resources it looks like India is well positioned to play a critical role in the next growth phase of this $50 billion giant.