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China: Johnson & Johnson rockets into China’s pharma market

 |  November 10, 2014

Johnson & Johnson says it is looking to grow within China’s pharmaceuticals industry full-speed ahead and announced plans to new acquisitions in the market.

Reports say J&J’s sales in China last year saw a 10 percent increase from 2012, and the company is now running with its success. J&J CEO Alex Gorsky told reporters that the company now wants to acquire drug and consumer health brands in China to expand current partnerships with Chinese drug makers.

Reports say J&J has placed one of its chairmen in charge of all operations in China to facilitate the company’s direction.

The company added that it is not deterred by recent criticism against Chinese government officials accused of unfairly treating foreign companies. Johnson & Johnson was fined by Chinese competition officials for “monopolistic pricing” of its contact lens operations.

Full content: Fierce Pharma

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