Roche Holding AG (VS: ROG
) is planning for China to be one of its top 3 global revenue producers by 2015, a big move up from 10th position in 2010. The prediction came from the company's Chairman, Franz Humer, during a visit to China. Roche's China revenues are already more than $1 billion annually.
Earlier this month, Roche opened a $75 million addition to its China R&D center, located in Shanghai's Zhangjiang Hi-Tech Park, which is already home to the company's Asia Pacific headquarters. The latest capital infusion brings Roche's China investment to $220 million.
According to Chen Peiqian, President of Roche China, the company currently is focused on serving China's top-ranked hospitals. It will expand in China by extending coverage to smaller hospitals and community clinics.
Roche has a major presence in China in both diagnostic tests and cancer drugs. China is home to almost one-fourth of all cancer patients.
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