Bullish on prospects in the Asian markets
Pfizer islooking at introducing around 20 new drugs in these markets over the next three to five years.
The companyplans to introduce the Exubera inhalation drug for diabetes patients.
Tokyo, June 15
Pfizer Inc, the world's largest drug maker, is planning to scale up its presence in the Indian market with a slew of 20 new product launches slated for the next three to five years, including its blockbuster diabetes drug Exubera.
Bullish on Asia
The company is bullish about India's intellectual property rights regime and hopes to continue its double-digit growth in the Asian markets, especially India and China, by leveraging on its existing drug portfolio and through new launches.
"We are very bullish on our prospects in the Asian markets going forward, especially in India and China. Pfizer is looking at introducing around 20 new drugs in these markets over the next three to five years," Mr Henry A. McKinnell, Chairman and CEO, Pfizer, USA, said here.
Speaking at the sidelines of the World Economic Forum's opening session, Mr McKinnell said the company would introduce the Exubera inhalation drug for diabetes patients. "There is a huge potential for diabetes drugs in India," he said. Exubera inhalation powder is the first diabetes treatment that can be inhaled by the patient. The drug helps control high blood sugar in adults with both Type 1 and Type 2 diabetes.
Speaking about Pfizer's focus on the emerging markets such as India, Mr McKinnell said while the Asian markets continue to register high growth rates, the population of most of these countries was rapidly aging as well. "There is a huge untapped potential for drug companies in India since almost 65 per cent of the population does not have access to proper medical facilities," he said.
He also said the company was keen to partner the Indian Government in increasing people's access to medical facilities. "We are in talks with the Government on helping increase the coverage of medical facilities," he saidRelated Stories:
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