As reported in the Japanese newspaper, Nikkei, Pfizer, one of the world’s leading pharmaceutical companies, are considering marketing generic drugs in Japan, starting as early as 2011. A spokesman from Pfizer’s Japan unit stated, “Pfizer is considering entering the generic drug market in Japan as it seeks to diversify its business operations to build a stronger earnings structure.”
The Japanese drug division will initially market 70 of Pfizer’s off-patient medications. Further along the line it is planned that the company will apply for sales licenses for generic drugs based on other companies’ expired patents. This could be a profitable move for the pharmaceutical company as Japan’s generic drugs market is expected to reach 515 billion yen in the year ended March 2010. The potential for new job opportunities within the pharmaceutical and scientific industry is also high. To search for science jobs click here.