Date: 27th June 2007

Pfizer Incl., the maker of the erectile dysfunction drug Viagra shows interest in involving itself in a joint venture with South Korea . Further information revealed by sources make it apparent that Pfizer's chief executive officer Jeff Kindler is ready to embark on a two-day visit to South Korea in order to invest US$300 million in joint research and development (R&D). In its joint research and development (R&D) program, Pfizer is willing to join hands with several medical institutions in Korea including the Korea Research Institute of Bioscience and Biotechnology.

According to Jeff Kindler, Pfizer is gearing up to invest in South Korea after assessing the power and capabilities of Korea's major medical institutions and evaluating the specific role that these institutions can perform in relation to the clinical research development programs.

Heaping praises on the regulatory changes of South Korea that have lead to development in the field of clinical research, Jeff Kindler states that the regulatory changes have played a significant role in expanding opportunities for Korea's participation in all sections of global clinical research.

Jeff Kindler further clarifies that as the deal between Pfizer and South Korea is signed, Korean researchers would get the opportunity to prove their technical expertise in the development of innovative medicines.

Source: http://english.yonhapnews.co.kr

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