Merck still sees double-digit growth in China
Created 03/29/2015 - 13:13
- According to Bernd Reckmann, CEO of Merck KGaA's life science and performance materials unit, the company still sees expects double-digit growth in China, despite the economy now having entered a phase of slower growth, but higher quality, reported Global Times.
- "China has been a major driver for the emerging markets," said Reckmann, noting that growth in the country will remain strong given the increasing healthcare needs and the country's move to boost innovation.
- Meanwhile, E. Allan Gabor, chief executive of Merck Serono China, the company's biopharmaceutical business, also remarked that the investment climate in China is still "quite good" and the country also has a desirable market for companies seeking long-term development.
- Merck, which has been boosting investment and manufacturing facilities in China, indicated that emerging markets, including non-Japan Asia and Latin America, contributed around 38 percent of its total revenue of 11.5 billion euros ($12.5 billion) in 2014, compared with 35 percent for Europe, surpassing Europe for the first time.