Pfizer has sold a coveted animal vaccine to a Chinese buyer, completing the first intellectual property divestment ordered by the mainland's antitrust chiefs.
Lawyers and investment bankers expect the sale by the US drugmaker to be the first of many such transfers of western IP to Chinese groups arising from local competition rulings.
The creeping loss of IP rights by US companies operating in China has become a hot political issue and has featured in recent high-level bilateral talks.
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