Amgen CEO expects 25% of growth to come from Asia in next decade - (Fidelity via NewsPoints Desk)

  • Amgen CEO Robert Bradway said the company expects up to a quarter of its growth to come from Asia over the next decade, as reported in Fidelity.

  • "China and Japan are the second and third largest markets in our industry," Bradway said, adding that "in the case of China, it is a rapidly growing market...Japan has an aging population and we expect that will be a growth market for us."

  • Late last year, Amgen acquired a 20.5% stake in Beijing-based BeiGene in a deal to expand its presence in China.

  • In Japan, Amgen expects by the second quarter of this year to dissolve its current joint venture with Astellas and begin for the first time to operate an independent marketing unit in that country.

  • Bradway explained that the Astellas venture is a model for what Amgen aims to do with BeiGene, which is "work on a basket of drugs together, then after a period of time, the rights would return to us." 

  • Meanwhile, the CEO said Amgen continues to see growth in Europe, where product sales volumes are increasing by rates in the high-single-digits or low-double-digits. Currently, the drugmaker still relies on the US market for more than 75% of its sales.

To read more NewsPoints articles, click here.