Some of the biggest global drugmakers, undeterred by mounting Sino-U.S. tensions, are scouring for deals in China to replenish drug pipelines and boost their...
SHANGHAI/HONG KONG - Some of the biggest global drugmakers, undeterred by mounting Sino-U.S. tensions, are scouring for deals in China to replenish drug pipelines and boost their presence in the world's second-biggest pharmaceutical market, industry executives and investment bankers said.
Manas Chawla, chief executive of global political risk advisory firm London Politica, which has worked with multinational pharmaceutical clients, said acquisitions would help them bring down costs, tap into innovative companies and get exposure to China's large consumer market.The majority of buyers of Chinese healthcare companies have been domestic in the past two decades, LSEG data showed.
Wei Wei, a new product planning manager at Sanofi, told Reuters that buying biotechnology companies in China was a goal for the French drugmaker and had been discussed in meetings. He declined to provide more details. "I think there are risks" in China, Merizalde said. "I think that if there is any major conflict or there is any major economic downturn, we will be impacted, because any of those issues will impact the overall pharmaceutical market, so we manage those risks as a company."
More recently, pharmaceutical companies and investors have inquired about the potential extension of China's data transfer restrictions to investments given the broader push by U.S. to reduce supply chain dependence on China over economic competition and security concerns, Choi said.
China Sanofi Pharmaceutical Company Chinese Biopharmaceutical Association Andrew Silver Larry Merizalde Acquisition Targets
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