Eli Lilly will continue to buy biopharma and animal health companies to grow after patents on some of its best-selling drugs expire, its chief executive said Thursday.
"We’ll be particularly focused on acquisitions that can help us bring products to the market in the next three or four years when we’re losing our patents," John Lechleiter told CNBC. He did not give a timetable for the acquisitions or say which companies the drug giant is considering.
Another growth area for Lilly is China, he said. "China is going to continue to be a very important place for us. There's an enormous medical need in China (and) an opportunity for Lilly for the kinds of medicines we offer."