Pfizer sees 2010 China sales up at least 25 pct

HONG KONG, Feb 4 (BestGrowthStock) – Pfizer Inc (PFE.N: ), the world’s
biggest drugmaker, said it expects its China business to grow by
25 percent or more this year, as it increases its share of the
nation’s fast-growing pharmaceuticals market.

“(Pfizer’s business in) China is growing by 25 to 28 percent
while overall (growth) in emerging markets is 12 to 14 percent,”
Jean-Michel Halfon, Pfizer’s president of emerging markets for its
biopharmaceutical business, told Reuters in an interview on
Thursday.

Pfizer had identified China, India, Russia, Turkey, Brazil
and Mexico as key emerging markets and regards China as the most
important, he said , adding that it expects its revenue in China
to grow by at least 25 percent in 2010.

“We want to do substantially better than that, so that’s not
a couple of percent,” said Allan Gabor, regional president for
Pfizer’s emerging markets in North Asia, Pakistan and Indochina.

Pfizer has a 2.2 percent share of China’s highly fragmented
pharmaceutical market, which apart from multinationals also
features a staggering 6,000 domestic drugmakers.

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(Reporting by Donny Kwok and Tan Ee Lyn; editing by Doug Young)

Pfizer sees 2010 China sales up at least 25 pct