July 15, the signing ceremony of the national retail strategic cooperation framework agreement between China National Medicines Co., Ltd. (CNCM) and Pfizer Investment Co., Ltd. was held in Dalian. Liu Yong, vice president of Sinopharm Group (Holding) Co., Ltd. and chairman of CNCM, and Wu Xiaobin, president of Pfizer China, signed the agreement on behalf of each side. Chen Changqing and Ye Tong, general manager and vice general manager, Cai Jingchuan, CIO, and Yang Ke, assistant to general manager of CNCM, along with the related leaders from Pfizer side attended the signing ceremony.
In order to accommodate to the competitive environment of the pharmaceutical market, enhance close collaboration between both sides, as well as coordinate to the advancing national medical and healthcare system reform, Pfizer and CNCM will conduct in-depth cooperations in brand propaganda, channel management, data collection and information exchange, to realize an innovative distribution mode in retailing market in the future.
According to the agreement, the two parties will work together, through establishing a cooperation relationship in distribution, forming a lean business team and using advanced techniques to intensify product-market management, regulate the channels and promote the benign development of the business. The two parties will take three years to fulfill the required coverage of six products over the headquarters of key chain pharmacies in China.