The widely reported slowdown in sales in China noted across most multinational pharma companies deserves a harder look, The Wall Street Journal says.
GlaxoSmithKline joins other multinational pharma that witnessed a slowdown in China in the second quarter as heard on the July 29 earning call, with CEO Andrew Witty sounding in fine form, handling many of the questions directly.
For the second quarter, Pfizer gave the good news about continued strong Prevnar 13 sales in the U.S. But outside of a mention of possible approval in Japan in 2017, the company gave no update abroad and more importantly on China, where in April it halted vaccine operations following failure to get a license renewal for its existing Prevnar shot as Prevnar 13 also awaits approval.
For the second quarter AbbVie on a July 24 earnings call saw Rick Gonzalez, chairman and CEO, put Bristol-Myers Squibb and Gilead on notice that approval for hepatitis C therapy in Japan is expected in the second half of the year.
For the second quarter Eli Lilly on a July 23 earnings call heard John Lechleiter, chairman, president and CEO, and his team provided upbeat talk about opportunities in Japan. But there was also some of the same comments heard from Johnson & Johnson, Abbott and Novartis on China's slowdown.
For the second quarter Roche on a July 23 earnings call saw CEO Severin Schwan speak about the cancer immunotherapy pipeline at some length, but his two chief operating officers provided details on emerging markets.
For the second quarter, top executives from Bristol-Myers Squibb on a July 23 earnings call, as usual, did not have a lot of comment on markets outside of Europe and the United States where reimbursement for its innovative drugs and pipeline are key to its business model.
For the second quarter, top executives from Abbott came on the July 22 earnings call with Miles White, chairman and CEO, following fellow chiefs from Novartis and Johnson & Johnson in highlighting concerns about China--though at the same time emphasizing actual growth in the country and good prospects across the company's divisions.
FiercePharmaAsia combs earnings calls by major drug companies for notable and quotable nuggets on emerging markets and Asia to track the latest sales trends and insight into business outlooks in markets as diverse as China, India and Japan to Southeast Asia.
Orthopedics player Smith & Nephew is rounding out its presence in emerging markets with the acquisition of the trauma and orthopedics business as well as a manufacturing company of the DeOst Group. The Russian company manufactures medical devices and has also served as Smith & Nephew's product distributor in the region since 2009.