Market Chatter: US Committee Launches Probe Against Five Drugmakers over China Clinical Trials

MT Newswires Live07-01

A US congressional committee on China has launched investigations into whether five major pharmaceutical companies conducted clinical trials in China that may have supported Chinese military capabilities, according to a Reuters report on Tuesday, citing sources.

The chair of the U.S. House Select Committee ​on China opened national security investigations into drugmakers, including Merck, AbbVie, Eli Lilly, Pfizer, and Bristol Myers Squibb, the report said.

According to letters quoted in the report, the inquiry focuses on due diligence, data protection, and trial locations, including sensitive sites like Xinjiang and military hospitals. Republican Representative John Moolenaar of Michigan has asked for details of the due diligence by July 17.

The five mentioned drug companies, Merck, AbbVie, Eli Lilly, Pfizer, and Bristol Myers Squibb, did not immediately respond to MT Newswires' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment