Pharmaceuticals heavyweight Pfizer is discovering tie-ups with more Chinese drug firms as it pushes forward with plans to sell additional of its off-patent drugs in the Chinese market, following clinching an agreement with a Shanghai-listed drugmaker.
Pfizer spokesman stated in reply to queries from Reuters that they are searching business development opportunities, counting tie-ups with local firms that let them to effectively expand into the generics division of the market. [article_latestnews_1]
Pfizer announced over the weekend progress in an intended alliance with Chinese drug company Zhejiang Hisun Pharmaceutical to make and sell off-patent drugs in China and the remainder of the world.
Pfizer Inc. (NYSE:PFE) last session volume of 34.64 million shares was surprisingly higher than its average volume of 42.13 million shares. The stock after opening at $21.48 hit high price of $21.48 and then closed at $21.19 by negative scoring -0.66%.
PFE generated revenue of 67.43 billion in the following twelve months and earned $8.70 billion. The Company showed a positive 12.96% in the net profit margin and as well as in its operating margin which remained 18.93%. Company’s annual sales growth for the past five year was 6.87%.
The PFE past twelve months price to sales ratio was 2.42 and price to cash ratio remained flat.
The stock showed weekly upbeat performance of 0.67% which was maintained for the month at -1.99%. Likewise the positive performance for the quarter was recorded as 9.40% and for the year was 13.99 while the YTD performance remained at -1.07%.
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