(Yicai) Jan. 9 -- Eli Lilly has appointed Huzur Devletsah as president and general manager of its China business, making her the first woman to helm the unit, the US pharmaceutical giant said.
Devletsah has headed the company’s business in Italy for the last five years and has achieved strong year-on-year results, Indianapolis-based Lilly announced today.
Over the past two years, Lilly has underperformed in the Chinese market compared with globally. From January to September last year, the unit’s revenue rose 6 percent to USD1.2 billion from a year ago, while Lilly’s worldwide revenue grew 17 percent to USD24.8 billion, per its latest earnings report.
“The pace of development in China's industry, technology, and economy surpasses that of many other countries,” Devletsah said in the announcement.
“The population’s increasing income, growing demand for an enhanced quality of life, and the rapidly aging population also underscore the mounting responsibility for every pharmaceutical company,” she added.
Devletsah has worked 25 years at Lilly, having also been head of their operations in Central and Eastern Europe, Russia and Israel.
She takes over from Benjamin Basil, who stepped down in November after just a year and two months in the position, according to a report by 21st Century Business Herald.
Lilly is in the process of trying to launch Tirzepatide, which treats type 2 diabetes, in the Chinese market. The drug contributed USD3 billion to revenue in the first three quarters of last year and was also approved in November by the US Food and Drug Administration for chronic weight management.
Editor: Tom Litting