Eli Lilly Spells Out Opportunities And Challenges In China’s Healthcare Reform; Doubles China Sales Force
This article was originally published in PharmAsia News
At the China Development Forum 2009, Eli Lilly's CEO John Lechleiter told local media that China's healthcare reform means good news for the development and operations of multinational companies; as such, the firm will greatly increase its investment locally. However, he noted challenges in the drug catalog for medical care insurance and patent drug-pricing system. This year, Lilly will double its China sales force from 800 people to 1,600 people. In future, it aims to further penetrate into smaller cities and rural areas. Although China only contributed 1 percent to the company's global revenue of $20 billion in 2008, it shows huge growth potential. The market has been growing at an annual average of 20 percent in the past seven years. (Click here for more - Chinese Language)
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