AstraZeneca is building a separate Chinese supply chain to try to circumvent increased US-China tensions, as chief executive Pascal Soriot said Chinese drug sales and innovation would help the company hit a new $80bn revenue target by 2030.
The drugmaker, the world’s largest seller of pharmaceutical products in China and in other emerging markets, has established a manufacturing plant in Qingdao that will only serve those regions, Soriot said on Tuesday.
“We hope for the best and plan for the worst,” he said, after the Biden administration announced new tariffs on Chinese imports to the US last week.
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