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Pfizer not hot on launch of Viagra

BS Corporate Bureau

Pfizer India, the local arm of the US pharmaceutical giant, may not immediately launch its impotency drug Viagra in India.

Hocine Sidi Said, the new managing director of Pfizer India, told shareholders at the company's annual general meeting in Bombay on Thursday, that it is not yet opportune for the manufacturing of the product in India because of the potential misuse of the drug.

He added the Pfizer could look at importing Viagra from other international affiliates.

Meanwhile, the much-awaited operational merger between Pfizer India and Parke-Davis is expected to be completed in the next two months.

"The legal merger of these two entities would be completed by the end of this year," Said said.

"Internationally many affiliates of both the companies have swiftly integrated. However, in India, Pfizer and Parke-Davis teams have purposely taken a prudent approach only motivated by the desire to satisfy all legal and regulatory requirements customary with all such endeavors," Said added.

He said that Pfizer India is open to strategic alliances that would capitalise their marketing capabilities like the one with local company, Shantha Biotech.

He added that beyond new products and their contribution to the financials of the company, growth has also been positively impacted by productivity gains within our sales force. In fact per capita productivity has progress by 11 per cent over fiscal year 1999.

On the Pfizer India's performance in the first quarter, Sidi Said elaborated that that sales growth was 17 per cent and pre-tax profit growth was 37 per cent over the first quarter of 2000.

The company has also announced a dividend of 40 per cent to its shareholders at the annual general meeting.

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