Pfizer Inc. and the Russian pharmaceutical investment and
R&D group ChemRar High Tech Center (ChemRar) announced today that they have
signed a Memorandum of Understanding (MoU) to explore a collaboration focused on
research, development and commercialization of innovative drugs in Russia
and other countries. The announcement was made during the BIO International
Convention.

The two companies will explore opportunities for accelerated
development and commercialization of certain innovative compounds from Pfizer’s
pipeline, through technology transfer and out-licensing deals with venture
funding. Through this arrangement, Pfizer and ChemRar plan to develop
innovative compounds and vaccines to treat patients with cardiometabolic,
infectious and oncology diseases, which are a high priority for the Russian Federation
healthcare system.

Under the terms of the MoU, the two companies can further
collaborate with other potential partners, including the Moscow Institute of Physics
and Technology, the Skolkovo Foundation and other members of the Russian
Biopharmaceutical Cluster “Northern,” created under the Federal
Target Program of the Ministry of Industry and Trade of the Russian Federation. In addition,
the companies can establish a shared-risk platform for several Pfizer R&D
programs designed to achieve clinical candidates and proof of concept in the
clinic.

“We see Russia
as a potential leader in the innovative pharmaceutical, biotechnological and
nano-technological areas,” said David Simmons, President and General
Manager, Emerging Markets and Established Products, Pfizer. “The Pharma
2020 Strategy driven by the Russian Government creates favorable conditions for
transition of the Russian pharmaceutical industry to the innovative development
model, and Pfizer is excited to be a part of these new opportunities.” “Considering
the importance of international partnership to our Government’s vision for
Russian business, the expertise of leading pharmaceutical companies such as
Pfizer is very important. Agreements such as this are critical to developing
the applied sciences and university research in Russia, within the global market
environment.

We hope our partnership will also help create a belt of
small innovative businesses within the Biopharm Cluster “Northern” initiative
created under the auspices of the Moscow Institute of Physics and Technology
and fully supported by the Ministry of Industry and Trade of the Russian Federation,”
says Andrey Ivaschenko, Chairman of the Board, ChemRar.

To expedite cooperation Pfizer and ChemRar will create an
Expert Committee, which will include specialists with a high level of experience
and expertise.

The partnership with ChemRar is an important component of
Pfizer’s broader strategy in Russia
named “MORE THAN,” which is designed to contribute to the
modernization of the national healthcare system, extended life-expectancy,
lowered mortality rate and a better quality of life for all Russians. More Than
is designed to create value for the Russian people through progressive
partnerships aimed at the modernization of the pharmaceutical industry,
accelerating the development of medical innovations, and improving access to
medicines and better healthcare.

As part of its investment strategy in Russia, in March 2011 Pfizer announced
the agreement with Russian biopharmaceutical company Petrovax Pharm to
manufacture Pfizer’s innovative pneumococcal vaccine in the Moscow region, as well as the June 2011
launch of the capability building program MORE THAN EDUCATION in partnership
with Saint-Petersburg, St. Petersburg State Chemical-Pharmaceutical
Academy and the Russian biotechnology company Biocad. Pfizer and its partners look
forward to contributing to the creation of medical innovations, further
modernization of the Russian pharmaceutical industry, improving the national
healthcare system and delivering better health and quality of life to Russian
citizens.