AbbVie set to make big splash in China

US biopharmaceutical company AbbVie said China is poised to become its largest overseas market outside of its headquarters, as it is on course to introduce 15 new drugs and 48 indications in the country over the next five years.

These newly unveiled offerings would center around key therapeutic areas such as immunity, oncology and ophthalmology, according to Tony Au, general manager of AbbVie China.

"President Xi Jinping emphasized the new development pattern proposed by China is by no means a closed domestic cycle, but a more open domestic and international dual cycle," Au said on the sidelines of the third China International Import Expo, which ended on Tuesday in Shanghai.

During the CIIE, AbbVie entered into agreements with government agencies and organizations, such as the Sichuan Provincial Health Commission and the Boao Lecheng International Medical Tourism Pilot Zone in Hainan province, to collaborate on addressing major public health challenges, treating and managing chronic diseases and Internet Plus initiatives.

"China shares market opportunities with the world and promotes the world. As such, the company aims to introduce more innovative therapies to China by making their Asia-Pacific or even world debuts in the country," he said.