Biden-Xi Bali Meet Reopens US-China Cooperation, Looks Positive For Health Players
Rare Positive Signal Amid Wider Decoupling
A meeting between the heads of the world's two largest economies potentially opens the door for health cooperation, a rare positive sign amid worsening economic decoupling, accelerating diversification away from China and the need for multinationals to modify localization strategy.
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In what appears to be a step towards a gradual shift away from its strict "COVID Zero" policies, China is poised to approve its first mRNA vaccine - in this case developed domestically - and will accelerate the roll-out of COVID-19 vaccinations in general to seniors over 80.
Transactions involving Biocon/Zentiva, CrystalGenomics/PanGen, Umoja/IASO, Marinus/Tenacia, Ono/Captor and Daewoong/HitGen plus deals in brief.
Much of the biopharma and other health-related industries in China were already feeling the chill from ongoing macro-economic and other headwinds this year, which now look set to be complicated further by the added strain of social unrest over strict COVID containment policies. The combination of factors is already prompting some to take steps towards restructuring and divestments to survive.