Pfizer Plans Venture into Middle East

It is already the world’s biggest pharmaceuticals company, but Pfizer is planning several key acquisitions in the Middle East that would allow it to further expand its hold in the global pharmaceutical industry. According to the company itself, the region is perfect for such a venture, and a senior executive in the company predicts “double-digit growth” in the years to come.
 
This move symbolizes the growing trend among drug companies to expand into emerging countries across the world as areas like North America and Europe begin to feature declining sales. Pfizer, specifically, plans to add $3 billion to its revenue by 2012 through expansion into developing countries.
 
So far, Pfizer has expressed interest in the Middle East as a whole, not any specific countries. It has stated that it will be looking into the more developed countries in the region, relatively speaking, such as Egypt and Saudi Arabia. Syria, Iran, and Iraq have also been mentioned as possibilities.

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