Minister of Economic Affairs Ho Mei-yueh attends opening ceremony for new Pfizer Taiwan office in Danshui

July 4, 2005

Pfizer Taiwan held an inauguration ceremony on Jul. 1 for the completion of its new office in Danshui.

The new office is located on the site of Pfizer's original factory in Danshui, which the company first established in 1962. The five-floor office covers 4,000 pings, and will serve as Pfizer's operations headquarters in Taiwan.

Pfizer first announced its plans for the NT$700 million construction project in Oct. 2003.

In attendance at the ceremony were Ho Mei-yueh, Minister of Economic Affairs; Jerry J.R. Ou, Director-General of the Industrial Development and Investment Center; Liao Ji-jhou, head of the Department of Health Bureau of Pharmaceutical Affairs; Richard Vuylsteke, Executive Director of the American Chamber of Commerce; and Gregory Harris, Commercial Officer at the American Institute in Taiwan.

Pfizer Japan/Asia President Dudley Schleier and Asia Regional President Alan Taylor also attended this landmark ceremony, thus highlighting the great importance Pfizer places on the Taiwan market.

In her address at the ceremony, Minister Ho said that she was very happy to participate in the ceremony for the completion of this building. She also noted that Pfizer Taiwan's new office not only represents Pfizer's operations success here, but it also represents the company's determination to root itself in the Taiwan market for the long term.

Ho pointed out that Pfizer Limited has created up to NT$8 billion in revenues in the Taiwan market and said that Taiwan offers an ideal business environment, with many outstanding medical testing laboratories and full government support for the biotech pharmaceuticals industry.

Ho further concluded that such an environment provides Pfizer with the ideal conditions to establish an R&D Center in Taiwan.

Ho said that Pfizer has a solid understanding of the Taiwan market, which prompted the Ministry of Economic Affairs to invite the company to consider forming an R&D Center on Taiwan. She noted that the MOEA could offer its resources to help Pfizer Taiwan continue its fine performance. The MOEA hopes that the next time it will be able to participate in an opening ceremony for a Pfizer Taiwan R&D Center, she said.

Pfizer Japan/Asia President Dudley Schleier praised Pfizer Taiwan's excellent personnel and responded to Minister Ho's remarks, noting that the company indeed plans to either set up an R&D Center or bring more resources to Taiwan. Mr. Schleier added that he looks forward to Pfizer's future growth and performance in Taiwan.

Pfizer Incorporated, the world's top pharmaceuticals manufacturer, was established in New York in 1849. In 2004, the company's business earnings totaled USD 52.5 billion, with R&D expenditures surpassing USD 8 billion.

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