Opportunities in emerging markets for pharmaceutical companies may off-set job losses in established markets. This report about Lilly's plans for China provides some insight into their plans and their moves to meet the growing demand for health care products in China.
Eli Lilly and Co. looks at China and sees the world's most populous nation in need of insulin, antidepressants and cancer drugs. The Indianapolis company is gearing up to deliver, with ambitious plans to launch as many as 15 new drugs in China during the next five years. If successful, the push could help take some financial pressure off Lilly, which is in the process of cutting 5,500 jobs worldwide and dealing with slowing growth in many markets. Lilly is a relatively small player in China, ranked No. 11 among the world's multinational drug makers in that nation. It rang up more than $200 million in sales in 2008, a sliver of its global sales of about $13 billion that year. But the company has invested more than $100 million in China in recent years and hopes to make it one of its top markets.