at Investor's Business Daily (Tue, 6:47PM)
Pfizer (PFE) and Merck (MRK) have recently set up joint ventures to access the mainland market's generic drug sector, but with slightly different agendas. Pfizer has aligned with China's Zhejiang Hisun Pharmaceutical, with the intent to capitalize on its global purchasing network to improve the export quality of generic drugs produced in China. Merck, on the other hand, has aligned itself with China's Simcere Pharmaceutical Group, and is focusing on lowering overall drug costs and deeper penetration of the Chinese market.
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