Pascal Soriot, CEO of AstraZeneca (NASDAQ: AZN), addressed the potential implications of the US BioSecure Act in an interview with Bloomberg during the Boao Forum for Asia in China this week. Soriot expressed that, should the act pass, “It will not necessarily affect us,” citing the “very segmented” nature of the multinational’s global supply chains.
Recently, AstraZeneca has bolstered its pipeline through strategic acquisitions from Chinese firms, including a notable $1.2 billion deal for Gracell Biotechnologies, a company specializing in cell therapies. Soriot emphasized, “The fact that a product was invented in China does not mean it will be sourced from China for the entire world.” In line with this strategy, AstraZeneca has announced a multi-hundred-million-dollar investment in a new cell therapy manufacturing facility in Rockland, Maryland, aimed at ensuring independent supply to both Europe and the US, as well as to Chinese patients.
When asked about China’s role in the pharmaceutical industry, Soriot highlighted the significant innovation surge in the market over the past four to five years. “Certainly, the US will continue to dominate innovation in our sector for quite some time, there’s no question. But on a global scale, China will emerge as the second-largest provider, especially in new therapies such as cell therapies, gene therapies, antibody-drug conjugates, and oligonucleotides,” he stated.- Flcube.com
