During the first quarter, biopharmaceutical volume [grew]10% in the BRIC-MT* markets…primarily driven by strong growth in China and partially offset by price reductions of 1% to these markets…
If you exclude the product portfolio of products whose rights were transferred to our joint venture in China with Hisun, our operational revenue growth would have been 8% in our emerging markets business, 14% in BRIC-MT countries and 31% in China.
*Brazil, Russia, India, China, Mexico, Turkey.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”