Among EMs, John C Landgraf, Executive VP of Abbott Nutrition is focusing on China and India and has opened manufacturing facilities in the two countries.
John C Landgraf, Executive VP of Abbott Nutrition says the biggest growth potential is in emerging markets. Among them, he is focusing on China and India and has opened manufacturing facilities in the two countries.
Abbott inaugurated its greenfield nutrition facility here and John F Ginascol, VP of Abbott Nutrition Supply Chain says the company invested approximately USD 75 million and an extraordinary amount was expensed to start this plant. "This plant will make all our key products for India, six main brands that we are going to have here and has the potential to expand that even further as our markets grow," Ginascol told CNBC-TV18.
Below is the verbatim transcript of John C Landgraf and John F Ginascol's interview with Archana Shukla on CNBC-TV18.
Q: Which are the countries that you are betting on?
Landgraf: Around the world, the biggest growth potential is emerging markets. There are two countries we are focussing on today. One is China and the other is India. We have just opened our new plant, first plant in China in May this year and of course today we are proud to say, we have opened our new plant in India. So the countries that we feel have the potential is where we would manufacture.
Q: You have spent a lot of time in India setting up this plant. Could you run us through what is the kind of investments and the kind of products that you will be putting here?
Ginascol: We have invested approximately USD 75 million of capital in this plant and then an extraordinary amount has also expensed to start this plant up. This plant will make all our key products for India, six main brands that we are going to have here and has the potential to expand that even further as our markets grow.
Q: Are you looking at some other brand acquisitions in India?
Landgraf: Typically Abott has done a lot of acquisitions, in fact nobody in the US has done the acquisitions as we have. We have been one of the best companies as far as doing acquisitions.
The nutritional space I see though more organic growth. There is a lot of companies that are out there but they are relatively small and to be honest, technology is not as advanced as ours. So we see our major focus is going to be organic growth.
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