Washington probes US pharma in Beijing
The U.S. Congress has launched extensive investigations into five major pharmaceutical companies, including Pfizer, Merck, and Eli Lilly, over clinical trial activities in China, particularly in the Xinjiang region. These trials may potentially enhance China's military and biological capabilities. The committee has demanded that the companies submit detailed reports on ethical protections and trial data by July 17, amidst market discontent that led to a 1-2% decline in their stock prices. This investigation comes amid growing American concerns about losing dominance in the biotechnology sector and heightened tensions over technological collaboration with China, which has signed multi-billion-dollar agreements and succeeded in reducing its share in global drug development.
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