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Pfizer Outsources More to Asia

2:54 PM MST | December 12, 2007 | Chemical Week Editorial Staff

Pfizer says it plans to outsource much more of its manufacturing to Asian countries, mainly India and China, to cut costs. The company is also planning to expand its R&D investment in China, India, Japan, and South Korea. Pfizer announced the plans at an investor presentation held in Hong Kong last week. The company, which recorded revenues of $48.3 billion in 2006, currently outsources almost 15% of its manufacturing. Last week’s announcement means that the company would double the proportion of manufacturing it outsources. Pfizer says that Asia is...

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