Pfizer sets up global HQ in Shanghai

Pfizer has officially launched the global headquarters of its generic and off-patent drug unit Pfizer Upjohn in Shanghai yesterday, the first multinational drug firm to do so.

Michael Goettler, group president of Pfizer Upjohn, said Shanghai is a strategic location for the company as pharmaceutical demand is still huge in emerging markets and it chose to put the global headquarters in Shanghai to respond faster to the local health-care market in a focused and flexible way.

The company said it aims to bring an integrated approach to disease prevention, diagnosis and treatment to emerging markets by working together with partners and its goal is to treat 225 million new patients worldwide by 2025.