In order to clear its way with Chinese regulators, Pfizer has been forced to sell one of its pig vaccines to a Chinese company for about $50 million. And observers say that the move signifies a general toughening on the part of regulators in the increasingly important Chinese market.
Chinese officials forced the sale of RespiSure, a mycoplasma hyopneumoniae vaccine, to Harbin after they raised red flags over the dominant market position Pfizer would be left with in the wake of its merger with Wyeth. And now Pfizer will be required to provide Harbin with technical assistance and training on the new vaccine, which is currently made in Nebraska.
This watershed deal demonstrates the increasing maturity of China's regulatory framework," says Mark Webster of BDA, which advised Pfizer. The Financial Times notes that more regulatory enforcement actions are likely.
- here's the story from the Financial Times