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GSK sees 10 per cent growth in Asia Pacific

GlaxoSmithKline (GSK) has forecast a 10 per cent growth in the Asia-Pacific region in 2010, in line with the market

GlaxoSmithKline (GSK) has forecast a 10 per cent growth in the Asia-Pacific region in 2010, in line with the market and last year's nine per cent increase.

According to Asia-Pacific regional director Christophe Weber, the strongest growth will come from emerging markets such as Indonesia and the Philippines where increased wealth and lower drug prices have increased sales. Sales of several GSK products increased significantly in 2009, including a 10-fold increase in Cervarix.

In June 2009, GSK announced it would reduce the price of the cervical cancer vaccine in Indonesia, Malaysia, the Philippines and Thailand. It also plans to lower the price of 28 products in the Philippines by as much as 50 per cent.

Weber said that 20 per cent of the earnings from these countries will be invested in health infrastructure developments. He said: "If you just reduce your price but you don't change the way you market your product, promote your products, then you won't have a volume increase."

Chief executive officer Andrew Witty is relying on revenue from emerging markets, such as those in Asia to balance out the falling sales in the US. The company said that revenue from developing nations expanded 25 per cent in the third quarter of 2009, compared with 12 per cent decline in the US and a three per cent increase in Europe.

19th January 2010

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