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"Developing an international patent portfolio is a much more expensive exercise, given the higher patent filing and associated translation costs. This demands a focus on quality and on prosecuting only those patents that offer real commercial advantage," said Smith.

"During the past three years, China experienced substantial changes in drug access, which greatly stimulated the R&D process of new medicines," said Rogers Luo, vice-president of Gilead and general manager of Gilead China.

"Favorable economic conditions make it a particularly opportune time to further reduce macroeconomic vulnerabilities and pursue reforms that target 'better quality, more efficient, fairer, and more sustainable development', as emphasized by President Xi Jinping during the 19th National Congress of the CPC in October," said Elitza Mileva, senior economist of World Bank and co-author of the report.

"During these challenging times, we continued to execute the strategy of building strong local businesses powered in China by Walmart and announced additional investments in China and India focused on positioning the portfolio for growth," CFO Brett Biggs said on the call.

"Educating subscribers on the importance of using unique username and password combinations is one of the most effective measures businesses can take to mitigate credential abuse. The good news is that organizations are taking the threat seriously and investigating security defenses," Sullivan added.