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Double-digit growth seen
By Ding Yining |
May 16, 2012, Wednesday
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Print Edition
Print Edition
BRISTOL-MYERS Squibb expects to maintain a double-digit growth in sales in China over the next five years as it will introduce innovative products in the market, top company executives said yesterday.
"Sales in China grew more than 20 percent in the first quarter of this year, and we're confident to maintain a double-digit growth rate within the next five years," said Beatrice Cazala, BMS executive vice president of commercial operations.
China is now BMS' fifth-largest market by sales income in 2011, behind the US, France, Japan and Italy. In the three months ended March 31, the pharmaceutical firm's global income grew 5 percent.
"We'll continue to invest to reach out to more regions and to distribute our medicines to enhance the coverage in China to maintain our growth," Cazala added.
Lamberto Andreotti, CEO of the drug firm, said: "We have been accelerating the introduction of new products into China since 2006, and in the next five years the company will add six more new medicines to the market."
Yesterday, the company, which marks 30 years in China this year, also unveiled a new tie-up with Tsinghua University on oncology and immunoscience.
It said it will inject a further US$20 million this year to raise production capacity in Shanghai's Minhang District and enhance the supply chain for its diabetes and hepatitis medicines.
"Sales in China grew more than 20 percent in the first quarter of this year, and we're confident to maintain a double-digit growth rate within the next five years," said Beatrice Cazala, BMS executive vice president of commercial operations.
China is now BMS' fifth-largest market by sales income in 2011, behind the US, France, Japan and Italy. In the three months ended March 31, the pharmaceutical firm's global income grew 5 percent.
"We'll continue to invest to reach out to more regions and to distribute our medicines to enhance the coverage in China to maintain our growth," Cazala added.
Lamberto Andreotti, CEO of the drug firm, said: "We have been accelerating the introduction of new products into China since 2006, and in the next five years the company will add six more new medicines to the market."
Yesterday, the company, which marks 30 years in China this year, also unveiled a new tie-up with Tsinghua University on oncology and immunoscience.
It said it will inject a further US$20 million this year to raise production capacity in Shanghai's Minhang District and enhance the supply chain for its diabetes and hepatitis medicines.
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