by Clarence Leong for Wall Street Journal
“SINGAPORE—Global pharmaceutical companies are bucking one of the biggest trends in business right now: they are still betting on China at a time when many multinationals are shifting their focus elsewhere.
Western drug companies including Pfizer PFE -0.36%decrease; red down pointing triangle and AstraZeneca AZN 4.68%increase; green up pointing triangle have recently said they are committed to helping China solve the challenges posed by its aging population and have struck multimillion-dollar licensing deals with local companies.
Their moves signal the staying power of the Chinese market despite the risk of being caught by rising Sino-U.S. tensions and a push in Washington and European capitals to reduce reliance on China…”
