Market analysis: Pfizer in China

Pfizer: the American Giant

Pfizer was found in 1849 in the United States. In its early development stages, it mainly produced chemical products and pharmaceutical products. The American Civil War in 1861 gave Pfizer a market opportunity to grow: the ongoing war increased the demand for medicine and Pfizer was a big supplier for the Union army.

After the Civil War, Pfizer’s next major product was citric acid. After the invention of penicillin by Sir Alexander Fleming in 1928, it began to produce penicillin and it later became its main product. It made subsequent study into fermentation technology and applied the results in producing citric acid and penicillin. Today, it is recognized as one of the initiators of developing fermentation technology.

The Second World War gave Pfizer another chance to develop. It was the only company that produced penicillin using fermentation technology. This technology allowed the company to produce a high output, while keeping costs low. It gave it a competitive advantage over other companies and as a result, Pfizer experienced a huge expansion over this period.

The most recent success of Pfizer is Viagra. According to statistics, every second in the world there are four pieces of Viagra taken by Pfizer’s customers. With the success in Viagra, Pfizer acquired Warner Lambert Company and Pharmacia Company, and became the largest company in this industry in America.

Pfizer in China: history

Pfizer entered the Chinese market in the 1980s. Now, it is one of the biggest international medicine companies in China. It has over 4,000 employees in China, and operates in over 160 cities. Now, Pfizer has four production bases in Dalian(大连), Suzhou(苏州), and Wuxi(无锡). For further development in China, Pfizer founded its administration center in Beijing(北京) in 1997, a Chinese headquarters in 2004, and the China R&D Center in Shanghai(上海) in 2005.

Pfizer offers the same products to the Chinese market as it does to the rest of its international market. Currently, it offers over 40 types of innovative drugs in China, and 8 of them achieved an annual global sell value of more than 1 billion dollars. These are: Liptor, Norvasc, Celebrex, Viagra, Fluconazole, Azithromycin, Genotropin and Sertraline Hydrochloride. Pfizer also plans to have 13 new products by the end of 2012.

Pfizer has always been willing to shoulder social responsibility. It launches many different programs and activities to help people in rural areas of China, Also, it made great amounts of financial support to places where natural disasters happen. From 2006 on, it has been organizing its employees to help NGOs to introduce to people about aids and teach people knowledge of aids prevention.

Daxue Consulting Market Analysis in China

Sources:

Credit Photo:100Shangdao 

Posted in China markets, Market analysis China, Medical China, Xiaomi and tagged , , .

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