Drug sales hit healthy $1.3bn in a growing market
As Astra’s new chief executive, Pascal Soriot, works out a treatment plan to turn around the struggling drug maker’s business, he is axing nearly 4,000 jobs – including hundreds in the UK – and streamlining research and development. But Astra’s $200m (£130m) new plant in Jiangsu province is still set to open this year.
Why? Because drug sales in the country have boomed since Astra established itself in China in 1993. Astra’s turnover in China first exceeded $1bn (£655m) in 2010, and rose by a fifth last year to hit $1.3bn. The drug maker employs some 5,000 in manufacturing, sales and marketing, clinical research and new product development at its headquarters in Shanghai and at sites in mainland China and Hong Kong. That is up from 500 in 2002.
And demand is only growing: China’s pharmaceuticals market grew from $10bn in 2004 to $41bn in 2010 and, according to analysts at IMS, is set to go beyond $100bn by 2015, thanks to improvements and more insurance take-up.
elephant appealThe first 23 lots in our charity auction have now gone. But there are 22 more still up for grabs
The battle for control of Stieg Larsson's £30m legacy
Geoffrey Macnab does not like the comedian's big screen debut
Look beyond the usual shows for the best festive telly
Michelle Nijhuis' daughter insists (s)he is, and she learnt a valuable lesson on gender in books
newsFormer soldier taped 33 of the animals to the floor and then stamped on them one by one
Kennington bus crash: 32 injured after double decker hits tree in south London
Robin Thicke named sexist of the year 2013
PAs cleared of fraud - and Nigella Lawson left reeling at 'ridiculous sideshow' of drug allegations and public dissection of marriage to Charles Saatchi
Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
Apollo Theatre collapse: Scores injured after ceiling collapses in London's West End
- 1 Sun will 'flip upside down' within weeks, says Nasa
- 2 Christmas comes early: Justin Bieber is 'retiring from music'
- 3 Iain Duncan Smith leaves Commons food banks debate early
- 4 Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
- 5 Burglar steals video tapes of child abuse, hands them into police
- < Previous
- Next >
iJobs Money & Business
£Negotiable: Citifocus: High calibre individual with institutional client serv...
£120000 - £150000 per annum: Cornwallis Elt : Programme Manager, Strategy Lead...
£55000 - £120000 per annum: Pro-Recruitment Group: The Financial Services Tran...
£600 - £700 per day: Harrington Starr: Client based in West London is looking ...