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.
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.