Pfizer Animal Health, a business unit of Pfizer Inc., and Jilin Guoyuan Animal Health Company, Ltd., an innovator in animal health vaccines based in Huinan, announced an agreement to jointly develop, manufacture and distribute animal health vaccines in China. The new joint venture, Jilin Pfizer Guoyuan Animal Health Co., Ltd., will bolster the capabilities of both companies to offer a comprehensive range of vaccine products tailored to help China’s livestock producers meet increasing demand for a safe and abundant supply of pork, beef, dairy, and poultry from healthy animals.
The animal vaccine market in China is valued at $800 million per year. Pfizer Guoyuan Animal Health will focus initially on developing vaccines to protect the health of swine. Vaccines for swine have high growth potential as China is the world’s leading pork producing nation, with an annual population of 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 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.”
Dr. Hua Wu, general manager of Jilin Guoyuan Animal Health Company, Ltd., added that the new joint venture begins operations from a position of strength. “Pfizer complements Guoyuan with its world class R&D, manufacturing, regulatory and operational expertise, its founding leadership in the International Veterinary Collaboration for China, a Veterinary Alliance, 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.
The joint venture represents an important step in Pfizer Animal Health’s growth strategy and affirms the company’s commitment to help assure a safe, sustainable food supply from healthy food production animals by providing comprehensive animal health solutions.
Earlier this year, Pfizer Animal Health integrated the feed medicine and water soluble product portfolio of King/Alpharma LLC following Pfizer’s acquisition of King Pharmaceuticals.
The company entered the aquaculture sector in May 2010 with the acquisition of Microtek International and the animal diagnostics sector by acquiring Synbiotics Corporation in December.
With the integration in 2010 of Vetnex, the leading generic animal medicine company in India, Pfizer Animal Health built its New Established Brands platform to develop and distribute a comprehensive portfolio of generic medicines and vaccines.
Jilin Guoyuan Animal Health Company was established in 2009 and is mainly engaged in R&D, manufacturing and sales of animal health biological products.