Astra, Pfizer Boost China Bets Despite US Drive to Decouple
- CEOs tout Chinese innovation at Ministry of Commerce meeting
- Tensions rise as US seeks to sever ties to Chinese industry
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The chief executive officers of AstraZeneca Plc and Pfizer Inc. pledged to support expansion of China’s biopharmaceutical industry, even as US politicians seek to decouple the tightly entwined supply chains that provide medicine to the world.
China is driving innovation and playing an important role in Astra’s manufacturing strategy, Chief Executive Officer Pascal Soriot said on Wednesday at an event in Beijing organized by the Chinese Ministry of Commerce to attract more foreign investment. Pfizer Chief Executive Officer Albert Bourla told the group he was “particularly inspired” by the prospect of novel drug development in the world’s second-largest economy.