NEW YORK (AP) -- Pfizer Inc. said Wednesday it will work with a Russian venture capital company to research and market new drugs in Russia and surrounding countries.The New York drugmaker said it will work with ChemRar High Tech Center to explore research, development and marketing of drugs and vaccines to treat heart and metabolic illnesses, infectious diseases and cancer. It said those conditions are a high priority for Russian Federation health care system.Pfizer and ChemRar said they signed a memorandum of understanding and did not disclose any financial terms. The partnership plans to seek technology transfer and licensing deals for drugs in Pfizer's pipeline of developing drugs.Under the agreement, the companies can form other collaborations.The agreement with ChemRar is Pfizer's second collaboration with a Russian company this year. In March, it announced an agreement under which Russian biotech drugmaker Petrovax Pharm will make a pneumococcal vaccine in the Moscow region.Shares of Pfizer were unchanged at $20.55 in afternoon trading.
- Pfizer Inc