China Declares Outbreak Past Peak, But Drug Makers Far From Recovery
Good Old Days May Never Return?
Clinical studies in hiatus, marketing on hold, demand directionless and supply disrupted. Pharma firms in China say it’s likely the good old days may never come back.
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China's centralized procurement scheme, if further expanded after causing the prices of 32 drugs to be cut by more than half in the latest round, will leave companies no room to breathe easy amid the already devastating coronavirus outbreak, analysts say.
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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.