A downbeat 2015 in emerging markets for Eli Lilly is set to continue into the coming year and beyond, executives said, though some brands remain strong and will take up most of the company's efforts in those regions, particularly in China.
Abbott Laboratories Chairman and CEO Miles White said that despite soaring inflation and a crashing exchange rate, the company will continue business in Venezuela hit by weak oil prices and political turmoil--and that goes for emerging markets generally.
After Q2's glacial emerging markets growth, industry watchers wondered just how slow pharma could go in developing countries. As it turns out, they found a way to decelerate in Q3.
U.K.-based AstraZeneca continued a nice run in emerging markets and China in the third quarter as respiratory pulled it to double-digit growth.
GlaxoSmithKline struggled in China and emerging markets in the third quarter, though executives said that plans afoot would see it recover by the first quarter of next year as volumes pick up.
Abbott Laboratories still likes emerging market plays, with Chairman and CEO Miles White suggesting M&A activity in those countries remains a top focus while highlighting a tough exchange rate picture from those geographies in the third quarter.
GE Healthcare has staked a major claim in a field that's not well tended--the development of affordable medical technologies to improve health outcomes in the emerging markets. It's creating a devoted business called Sustainable Healthcare Solutions out of a combination of its operations in India, South Asia, Africa and Southeast Asia dedicated to serving 70 markets--and investing $300 million to back the effort.
Almost one year into the job, GE Healthcare President and CEO John Flannery recently outlined his strategy for returning the healthcare business to growth. It's an $18 billion business that accounts for about 16% of the conglomerate's total revenues. He affirmed that the business will remain within GE, despite ongoing restructuring involving the divestiture of the finance arm.
Indian generics maker Cipla has agreed to buy two U.S.-based companies, InvaGen Pharmaceuticals and Exelan Pharmaceuticals, in a total transaction valued at $550 million, making something of an unexpected play from its emerging market expansion focus.
The widely reported slowdown in sales in China noted across most multinational pharma companies deserves a harder look, The Wall Street Journal says.