Replies to post #178390 on Biotech Values

[DewDiligence]

LOL re this soundbite on GSK’s woes in China (from the same Reuters piece):

GSK, which saw its China revenues plunge 61 percent in the third quarter last year, has since overhauled its management structure in China, stopped payments to healthcare professionals and changed its incentive systems for drug reps.

"Of course there will be an impact on sales. The pattern of selling through bribing definitely won't work anymore," said a Shanghai-based sales executive at another global drugmaker, speaking on condition of anonymity.

[jbog]

You didn't mention that net profits for the drug companies have fallen to 2.1% from 20% a couple of years ago. That puts China into the don't bother category which explains Actavis recent decision to leave the Chinese market.