Eli Lilly to Focus on Cancer, Diabetes in China, CEO Says

Eli Lilly & Co. (LLY)

will introduce more than a dozen products in China, including drugs for diabetes and cancer, in the next five years to help maintain sales growth, Chief Executive Officer John Lechleiter said.

“Our goal is to be the fastest growing pharmaceutical company in China,” Lechleiter told reporters at a briefing in Beijing today. “We are increasing our investments in every aspect of our business,” he said.

Lilly’s Chinese sales grew by 25 percent last year, faster than the industry average, after the Indianapolis-based drugmaker doubled its sales force in the Asian country over a three-year period, according to Lechleiter. The 58-year-old executive plans to raise Lilly’s share of revenue from China to more than 2 percent by focusing on “unmet needs.”

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Source: Bloomberg