(Yicai Global) May 30 -- Pharma colossus Pfizer's generic drug unit Pfizer Upjohn landed its global headquarters in Shanghai today in the first case of a global drug company locating its main office in China.

It is also the first time Pfizer has settled a subsidiary's headquarters outside of the US, Xinhua News Agency reported.

Pfizer, the New York-based well-known multinational pharmaceutical company, entered the Chinese market in 1989, and opened its Chinese unit's headquarters in Shanghai's Jing'an District in 1998. Upjohn, which also sells branded pharmaceuticals, first stated its intention to up sticks to the eastern Chinese megacity in 2004.

Pfizer restructured its business divisions in the middle of last year into Pfizer Biopharmaceuticals, Pfizer Upjohn and Pfizer Consumer Healthcare, and Upjohn has taken over the main assets from the former established medicines division.

Upjohn now owns over 20 renowned products which treat the cardiovascular diseases, pain, mental illness, urologic diseases and other non-communicable ailments. Most are mature original drugs whose patent periods have already expired, including Viagra and the cardiovascular disease medicines Lipitor and Norvasc.

The company's revenue reached USD12.5 billion last year, while that from China was USD2.4 billion. It has more than 11,000 employees worldwide and nine production bases globally, including one in China's northeastern port city of Dalian. Most Upjohn's medicines sold in the country have achieved localized production.

Deaths from non-communicable diseases worldwide make up 70 percent of global mortality from illness, and 80 percent of these deaths occur in China and other countries with low and medium income, Michael Goettler, Upjohn's group president, said at the opening ceremony for global headquarters, adding the reason for the international base's placement in China is to be closer to the market.

Pfizer Upjohn already has 5, 000 employees in the country and this global base will take on another 600, per the Xinhua report.

Today's opening ceremony comes months after China released a new government procurement plan that will lower the cost of generics prices and stoke competition in the sector, business news media Caixin Global reported.

Editor: Ben Armour