Lilly Sees Big Opportunity in China

chinabiotodaynewlogo ChinaBio Today submits:

John Lechlieter, CEO of Lilly (NYSE: LLY), said China currently accounts for just 2% of the companys revenues, a figure that equates to about $230 million. But he believes the opportunities in China are great as the country becomes the second largest market for pharmaceuticals in the world. For that reason, Lilly is investing heavily in China.

According to Lechleiter, there are around 3000 pharmaceutical firms in China, none of whom currently holds more than a 2% share of the market. Multinational pharmas claim just 30% of Chinas drug revenues, he said.

Lechleiter made his comments in a CNBC interview (see video clip), following a month-long visit to China. The trip gave him time, said Lechleiter, to visit Chinas smaller cities, including new hospitals that have been built since China committed $125 billion to increasing healthcare coverage. He expects Chinas progress in implementing healthcare reforms will be a step-wise process.


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