Companies / South Korea
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Pfizer Eyes Korean Biotech Acquisitions
September 2006 | FDI AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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US drug giant Pfizer is reported to be looking for a number of small to medium sized acquisition targets in South Korea, which will act as R&D partners. South Korea is an attractive prospect due to its growing scientific reputation, especially in the biotechnology field. Meanwhile, the country is forecast to have stronger sales growth than the United States and Europe, as its healthcare system is still immature. South Korea only spent 5.6% of its GDP on healthcare in 2004, the lowest out of any OECD country.