tiprankstipranks
U.S. drugmakers shifting away from Chinese supply-chain partners, WSJ says
The Fly

U.S. drugmakers shifting away from Chinese supply-chain partners, WSJ says

U.S. drugmakers and biotechs rely on Chinese partners for manufacturing, research, and ingredients, but, with geopolitical tensions rising, companies are now looking for alternatives, Jared Hopkins and Clarence Leong of The Wall Street Journal reports. Pharmaceutical and biotechnology companies of all side are saying it’s time to reduce China risk. Industry officials, however, note one consequence of this move may be slower drug rollouts and higher costs in the U.S. Companies making this move include AstraZeneca (AZN), Kymera Therapeutics (KYMR), Amicus Therapeutics (FOLD), Vir Biotechnology (VIR), Alnylam Pharmaceuticals (ALNY), Invivyd (IVVD).

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App