GlaxoSmithKline contends that cutting prices in the Asia-Pacific--coupled with increased prosperity there--could end up doubling the company's sales in the region within five years. Glaxo's regional chief Christophe Weber told Reuters today that economic development in the Asia-Pacific is clearly boosting demand there. "People want more healthcare," he said.
Just look at the numbers, Glaxo says: Asia-Pacific boasted twice as many newborns compared with North America or Western Europe, but mortality rates for mothers are 15 times higher there. That's a lot of opportunity for maternal and infant care. Childhood vaccination alone could grow astronomically, provided the price is right for the shots, Weber said.
Glaxo racked up $2 billion in regional sales last year, which amounts to around 5 percent of the company's global sales, Reuters reports. If Weber is correct, the sales figures could grow to $4 billion over the next five years. That's around 15 percent growth per year. Doable? What do you think?
- read the Reuters piece
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