Singapore: Pfizer and Mylan have signed a definitive agreement to establish an exclusive long-term strategic collaboration in order to develop, manufacture, distribute and market generic drugs in Japan. The collaboration is designed to build upon each company's highly complementary strengths and quality assets.

Under the terms of the agreement, Pfizer's responsibilities will consist of the commercialization of the combined generics portfolio and managing a combined marketing and sales effort, while Mylan's responsibilities will consist of managing operations, including R&D and manufacturing, quality manufacturing, supply chain reliability and service excellence. Pfizer and Mylan will each continue to operate independent entities in Japan, but will collaborate on current and future generic products, sharing the costs and profits resulting from the collaboration.

The collaboration between Pfizer and Mylan will include a portfolio of more than 350 marketed products across a broad range of therapeutic categories, as well as more than 125 additional products in development. Products included in the collaboration are expected to be sold under the strong Pfizer brand with joint labeling.

Mr Albert Bourla, president and general manager, established products business unit, Pfizer, said that, "Over the past 59 years, Pfizer Japan has built trust with patients and customers, and developed a very strong Pfizer brand. We are committed to delivering high quality medicines and believe this agreement will help us accelerate our ability to achieve our vision: Transform the Japanese Healthcare Environment with Established Products by 2020."

Ms Heather Bresch, CEO, Mylan, said that, "As a leading global biopharmaceutical company and a leader in the Japanese market, we expect Pfizer will bring significant benefits to the collaboration, particularly in the commercialization of products, and will complement the strengths of our existing Mylan business. With contributions from both companies, we believe the collaboration will result in a powerful generics platform that we believe will be a leader in Japan in terms of scale, scope and quality."