The leading Chinese business magazine Caixin quoting China's official news agency Xinhua reported that “Pfizer Upjohn, Pfizer's generic drug unit, opened its global headquarters in Shanghai on May 30, marking the first time any multinational drug company has placed its main office in China. It said this move has been in the works for a while and that “Upjohn, which also sells older branded drugs like Viagra and cardiovascular disease medication Lipitor, first announced its decision to relocate to Shanghai in 2004.”