Related News
Home 禄 Business 禄 Manufacturing
Glaxo chief says no end in sight for downturn
Source: Agencies |
June 10, 2009, Wednesday
|
Print Edition
Print Edition
THE chief executive of GlaxoSmithKline, the world's second-largest drug maker by revenue, said the global economy could remain sluggish for some time as tight credit markets and cautious corporate investment hamper growth.
Andrew Witty, Glaxo's CEO, said banks remain cautious about lending and companies are still "risk averse" as the impact of a credit crisis undermines investment.
"I still see significant economic contraction," Witty said yesterday at a news conference in Singapore, where Glaxo was opening a vaccine plant. "We're working on the basis that this could be a relatively anemic economic backdrop for a while."
Stock markets have surged around the world since March on expectations the worst of the global downturn is over.
"I'm not yet confident that anything is very different today than it was three months ago," Witty said.
Andrew Witty, Glaxo's CEO, said banks remain cautious about lending and companies are still "risk averse" as the impact of a credit crisis undermines investment.
"I still see significant economic contraction," Witty said yesterday at a news conference in Singapore, where Glaxo was opening a vaccine plant. "We're working on the basis that this could be a relatively anemic economic backdrop for a while."
Stock markets have surged around the world since March on expectations the worst of the global downturn is over.
"I'm not yet confident that anything is very different today than it was three months ago," Witty said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
