Leading U.S. Firm Makes Hong Kong Its Asian HQ

Home>>Business

Last updated at: (Beijing Time) Saturday, December 15, 2001

Leading U.S. Firm Makes Hong Kong Its Asian HQ

A Fortune 500 company, the U. S.-based Eli Lilly pharmaceutical company, announced Friday that it opened its new Asian headquarters in Hong Kong.

A Fortune 500 company, the U. S.-based Eli Lilly pharmaceutical company, announced Friday that it opened its new Asian headquarters in Hong Kong.

"We chose Hong Kong as our regional headquarters because of its ideal central location where we can oversee and co-ordinate our considerable regional sales and clinical activities across Asia," said Richard Smith, president of Eli Lilly's Asian Operations Region.

The company has annual sales of 10.8 billion U.S. dollars, and its new headquarters in Hong Kong will handle corporate and government affairs, legal, human resources, finance, marketing and medical functions in the region.

Hong Kong is also a springboard for the company to expand into China's mainland, one of the fastest growing pharmaceutical markets in the world, Smith added.

The company has been in Hong Kong since 1976 with a sales office. It employs 35,000 people worldwide and sells its medicines to more than 160 countries.

General Motors Driven from Top Spot of Fortune 500

12 Chinese Firms Rank Among Fortune's List of 500