Pfizer + Zhejiang Hisun
Pfizer
New York, New York · 1 relationship
Historical relationship
Joint Venture · 2012–2017
Zhejiang Hisun
Taizhou, Zhejiang · 1 relationship
Analysis
Pfizer and Zhejiang Hisun Pharmaceuticals created Hisun-Pfizer Pharmaceuticals Co., Ltd. on September 6, 2012, and announced its launch as a joint venture to develop, manufacture and commercialize off-patent and branded-generic medicines in China and global markets. The venture had aggregate investment of $295 million and registered capital of $250 million, with Hisun holding 51 percent and Pfizer 49 percent. The parties said the arrangement was intended to combine Pfizer's international pharmaceutical capabilities with Hisun's Chinese platform and reach more patients with affordable, quality medicines. [1]
The venture's operating footprint was distributed across Zhejiang and Shanghai. Registration facilities and production plants were to be located in Fuyang, Zhejiang, while the management center was planned for Shanghai and the research and development center for Hangzhou. The initial portfolio was designed to cover cardiovascular disease, infectious disease, oncology, mental health and other therapeutic areas through selected existing products and development programs contributed by both parties. [1] [2]
Pfizer's 2015 filing records a more detailed implementation step: on January 1, 2013, the parties transferred selected employees and contributed product rights, intellectual property, facilities, equipment and distribution or customer contracts. Pfizer said the resulting portfolio consisted primarily of branded generics and that it held a 49 percent equity interest accounted for under the equity method. The structure therefore combined local manufacturing and distribution with Pfizer's product, regulatory and manufacturing know-how rather than operating as a simple supply contract. [3]
The Pfizer-owned phase ended with a 2017 equity transfer. On November 10, 2017, Pfizer announced that it had sold its 49 percent share to Sapphire I (HK) Holdings Limited; the joint venture was to change its name while retaining rights to manufacture, sell and distribute its marketed and pipeline products in China. Pfizer also committed technical, manufacturing and regulatory support, technology transfer and transitional supply of certain products, so the transaction ended Pfizer's equity ownership but preserved a short-term operational and technology relationship during the transition. [4]
Participants
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New York, New York · 1 record in this database
Pfizer’s official timeline states that cousins Charles Pfizer and Charles Erhart founded Charles Pfizer & Company in a red-brick building in Brooklyn in 1849. The company moved its headquarters to 81 Maiden Lane in Manhattan in 1868, built on its fermentation capabilities in the late 1930s, and responded to the U.S. government’s World War II request for penicillin by using deep-tank fermentation. Pfizer says it became the world’s largest penicillin producer in 1944, and that Terramycin became its first U.S. pharmaceutical sold under the Pfizer label in 1950. [1]
Pfizer’s 2025 annual review records $62.6 billion in full-year revenue, compared with $63.6 billion in 2024, and says revenue excluding COVID-19 products grew 6% operationally. Its top three products by 2025 revenue were Eliquis at $7.961 billion, the Prevnar family at $6.494 billion, and the Vyndaqel family at $6.380 billion. These figures show a portfolio spanning medicines and vaccines rather than a company dependent on a single therapeutic area. [2]
The 2025 Form 10-K describes Pfizer’s commercial structure as three operating segments: Biopharma, PC1 and Pfizer Ignite. It also places the principal executive offices at 66 Hudson Boulevard East in New York City and reports that Pfizer Global Supply was responsible for 36 manufacturing plants worldwide at December 31, 2025. Pfizer’s current public materials continue to organize its science and products around areas including oncology, vaccines, and inflammation and immunology, linking the company’s historical manufacturing base to contemporary biopharmaceutical research and supply. [3] [4]
Taizhou, Zhejiang · 1 record in this database
Zhejiang Hisun Pharmaceutical was founded in 1956 and issued A-shares in 2000; the company’s current profile describes it as a state-controlled listed pharmaceutical enterprise headquartered in Taizhou, Zhejiang. Hisun says it began as a chemical enterprise and entered the pharmaceutical field in the early 1970s, later building an integrated model covering drug substances and preparations [1] [2].
The company’s stated business now spans chemical drugs, biologics, animal medicines, traditional Chinese medicines and commercial distribution. Its research-and-development footprint includes centers in Taizhou, Shanghai, Hangzhou and the United States, alongside a national enterprise technology center, a provincial key laboratory and a postdoctoral research station. Hisun also records a 2012 branded-generics joint venture with Pfizer as part of its move toward a broader research, manufacturing and commercialization platform [1] [2].
The latest full-year results located in the company’s current investor materials are for 2024: an official investor-relations briefing reports revenue of RMB9.787 billion, net profit attributable to shareholders of RMB601 million and non-recurring-item-adjusted net profit of RMB423 million. Current company updates also show continuing work in international partnerships, product approvals and production-capacity upgrades, so these financial figures should be read as 2024 results rather than a 2026 run-rate [2] [3].