Abbott Laboratories 2014 Annual Report Download - page 19

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17
ABBOTT 2014 ANNUAL REPORT
Ho Chi Minh City,
Vietnam
The restless energy of Ho Chi Minh City
sets the pace for Vietnam’s rapidly growing
economy. As the commercial hub of the
country, it’s a city that’s always on the move.
That’s a description that could easily be applied
to six-year-old Vy Đăng Lê Khánh, a bundle
of energy who loves playing with her friends,
going to museums, and drawing. Vy likes
PediaSure because it tastes good. Her parents
appreciate the fact that it delivers the nutrition
she’ll need to reach her full potential.
Vietnam is one of the many fast-growing
markets in which Abbott is steadily expanding
its presence. In 2014, emerging markets
accounted for just under half of Abbott’s
nutrition sales, but they represented the
majority of the operational sales growth in
this business.
In 2014, we deepened our roots and
supported our continuing growth in these
regions through targeted investments in
local infrastructure, opening new nutrition
manufacturing plants in China and India.
These facilities, combined with a newly opened
plant in the United States, will help us better
meet growing global demand for both pediatric
and adult nutritional products.
To expand our commitment to customers
in China, we announced a strategic alliance
with Fonterra, the world’s largest global milk
processor and dairy exporter, to develop a
proposed dairy-farm hub in China. With this
joint venture, which is subject to Chinese
regulatory approval, we can help make a
positive contribution to the growth and
development of China’s dairy industry.