Pfizer Takes Steps to Provide Healthcare for China's Poor

Pfizer (NYSE: PFE) has teamed up with non-profit PlaNet Finance to conduct in-depth research on the healthcare needs of the working poor in China. The study will examine the availability and existing sources of medicines, patient purchasing patterns, and the level of access to medical services. The goal is to identify models that may expand access to medicines and healthcare services for the working poor in China, providing Pfizer with entry into an underserved market.

Pfizer wants to meet the medical needs of China's population with a broad portfolio of innovative medicines and partnerships with local healthcare providers, academics, and government in order to help the healthcare system develop rapidly.

PlaNet Finance has ten years of experience with microfinance and microinsurance, operating in more than 60 countries. It points out that healthcare is a major factor in fighting poverty. PlaNet has leveraged its microfinance institutions to promote public health, fighting malaria, HIV/AIDS and other diseases. It also offers life and health insurance through its microinsurance subsidiary, PlaNet Guarantee.

Pfizer has been in China since the 1980s. In 2008, it announced plans to expand its business in China, and last month, Pfizer opened a new manufacturing facility in Dalian in Liaoning province.

PlaNet Finance has operated in China since February 2003. It has contributed to improving the lives of nearly 100,000 people in China through technical assistance to microfinance institutions, the 2007 launch of Nanchong MicroCred, a pilot microfinance institution in Sichuan and subsidiary of China Limited MicroCred, and through support of Harbin Bank in its downscaling programs. PlaNet Finance China is based in Beijing.

Disclosure: none.

Comments

[Zoltan L. K...:]

This sounds great. Please give some follow up information on this project and/or on similar ones.

Mar 24 12:09 PM