Per Bloomberg -- from the Jefferies & Co. investor conference in London (Jefferies' analysts presently have Merck at "Hold", as a bit of background information):
. . . .Merck & Co. Chief Financial Officer Peter Kellogg said investors shouldn’t overestimate the sales gain that drugmakers can get by expanding in emerging markets.
"Remember that emerging markets are very small today from a pharmaceutical sales standpoint,” Kellogg said at the Jefferies 2010 Global SpecPharma & European Healthcare Conference in London today. “In China, the top Western pharmaceutical company only has about three or four percent market share. So don’t get the sense that these markets have market leaders that are taking off."Merck, the second-largest U.S. drugmaker behind Pfizer Inc., expects to derive more than 25 percent of its worldwide pharmaceutical and vaccine revenue from developing countries by 2013, according to Kellogg. Those markets currently account for around 18 percent of those sales, he said. . . .
How will he get there, I wonder.
2 comments:
declining sales in all other regions will automatically raise the percentage of the emerging markets..... ;-)
Heh!
True enough -- Intervet/Organon/Merial Animal Health units: Divested (50% to remain). Cozaar/Hyzaar: Gone soon. Remicade/Simponi: (Potentially) Gone soon. Vytorin/Zetia: Slowly dying.
That's nearly $9 billion in global 2011 sales, right there!
Gee -- you ARE RIGHT!
Hilarious!
Namaste
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