Pfizer Upjohn Becomes First Multinational Drug Company to Open HQ in China

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By Teng Jing Xuan / May 30, 2019 05:34 PM / Business & Tech

Photo: IC Photo

Pfizer Upjohn, Pfizer's generic drug unit, opened its global headquarters in Shanghai Thursday, marking the first time any multinational drug company has placed its main office in China, state news agency Xinhua reported.

Upjohn, which also sells older branded drugs like Viagra and cardiovascular disease medication Lipitor, first announced its decision to relocate to Shanghai in 2004.

Thursday’s opening ceremony comes months after China announced a new government procurement plan that would push down generic drug prices and intensify competition in the industry.

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