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PFIZER

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Pfizer : inks tech deal with VN company

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01/12/2019 | 04:49am EDT

Pharmaceutical company Pfizer announced on Thursday it has signed a deal with Medochemie to transfer technology to manufacture its innovative medicines in Vit Nam.

Pfizer said it would bring its global technologies and operations platforms of hard-to-make products such as sterile injectables to Vit Nam and help raise local manufacturing standards to that of international markets.

Under the agreement, Medochemie, which has a plant in Bnh Dng Province, will make Pfizers anti-infective, cardiovascular, and pain drugs.

Commenting on the partnership, Bradley Allen Silcox, chief representative of Pfizer Thailand in Vit Nam, said: We are grateful to the Ministry of Health of Vit Nam and the Government of Vit Nam for their vision to improve the capacity and capability of the pharmaceutical sector, and for creating an eco-stem that allows patients the quality of care and treatment.

Daphne Pittas, director of Medochemie, said: This partnership gives an impetus to Vit Nams pharmaceutical industry capability for the manufacture of complex medicines such as oral dosages and injectable cephalosporin.

Medochemie strongly believes in and will continue to support the scientific and technological advancement of the Vietnamese pharmaceutical sector.

Vit Nam is a rapidly developing market with a population of 95 million as of 2017. Steady economic growth and an expansion of the middle income have increased demand for high-quality healthcare goods and services, especially medicines, the two companies said in press release.

(c) 2003-2019 SudanTribune - All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 53 331 M
EBIT 2019 19 994 M
Net income 2019 12 143 M
Debt 2019 32 038 M
Yield 2019 3,43%
P/E ratio 2019 19,27
P/E ratio 2020 16,75
EV / Sales 2019 4,96x
EV / Sales 2020 4,85x
Capitalization 232 B
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Number of Analysts 15
Average target price 44,1 $
Spread / Average Target 5,5%
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Managers
NameTitle
Albert Bourla Director, Chief Executive & Operating Officer
Ian C. Read Executive Chairman
Frank A. D'Amelio Chief Financial Officer & EVP-Business Operations
Freda C. Lewis-Hall Chief Medical Officer & Executive Vice President
W. Don Cornwell Independent Director
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