China is known for its prowess in gymnastics. Today it is the companies depending on that market which must perform some delicate balancing acts.
As tensions heighten between the US and China, AstraZeneca may offer its own twist by carving out its Chinese business. The London-listed drugmaker could then opt for a separate Hong Kong or mainland listing for the shares, the FT reported on Monday. This highlights a growing trend by businesses to insulate themselves from the region’s geopolitics.
Chief executive Pascal Soriot has pushed AstraZeneca harder and faster into China than any other big foreign drugmaker. Demand from the country’s large and ageing population for drugs such as lung cancer treatment Tagrisso attract AstraZeneca there.
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