"Emerging markets, such as Brazil, Russia, India, China andthe Middle East, are significant growth drivers of the future. They are alreadycontributing close to 25 percent of today's market growth and are forecast togrow even faster in the future, around triple the rate of western countries. Itis essential that we have an operating structure that is dynamic and responsiveto the opportunities in these markets," said Witty in an April press releaseannouncing the corporate changes.
The first move in this direction came in late July when GSKcemented a licensing deal with South Africa-based Aspen Pharmacare, whichprovided the company with access to both a broad pipeline of future products aswell as roughly 1,200 branded products which it will sell in emerging markets.
The agreement with Bristol-Myers gives GSK a leadingposition in the MENA market and in Egypt, where pharmaceutical sales grew by anestimated 19 percent last year—far outstripping the single-digit growth inmature markets around the world.
Sales of the acquired products last year were $48.1million dollars. In all, GSK estimates the total pharmaceutical to be roughly$2.1 billion.
