Emerging pharmaceutical markets worldwide provide enormous opportunity because the need for our medicines and vaccines is so great and our ability to meet those needs so clear. Our new strategy will enable Merck to build a long-term leadership position in those markets and will ensure that we can make the profitable investments needed to win that status. We expect our revenue growth in key emerging pharmaceutical markets to double by the year 2010 to more than $2 billion. We are already on track to achieve that.
It's worth noting that Merck already has a strong presence in these markets. Notably, Merck's top four products are first in their class in China, the world's most populous country. In Russia, Turkey and Hungary — other countries with enormous potential — we've produced an 11 percent increase in revenue compound annual growth rate over the past five years.
Sourcing capabilities in many of the world's emerging markets also offer significant cost savings potential. In both China and India, we are already finding that sourcing manufacturing and conducting clinical trials can yield savings without any loss in quality.
We expect our revenue growth in key emerging pharmaceutical markets to double by the year 2010 to more than $2 billion.
