In its bid to dominate the global marketplace, drug maker Pfizer Inc has to bet on more than just a mega-merger with Wyeth.
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In its bid to dominate the global marketplace, drug maker Pfizer Inc has to bet on more than just a mega-merger with Wyeth.
According to figures from IMS Health, an international consulting services provider in the health care industry, pharmaceutical sales in China are expected to reach a compounded annual growth rate of 16.4 percent from 2004 through 2009, making the country the fast-growing market in the world.
IMS Health estimates that China will become the second-largest pharmaceuticals market worth $109.5 billion by 2020, behind only the United States.
Pfizer recently has been undertaking a series of initiatives in China to tap the expertise of Chinese academics and professionals to enhance its capabilities in the research and development (R&D) field.
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