Spring Shopping: Ping An Bets On Shionogi, TCMs In Coronavirus Aftermath
China insurance giant snatches up stakes in Japanese pharma and a traditional Chinese medicines maker with a $465m spending spree.
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The role of a traditional Chinese medicine provided to the general public in China to fend off COVID-19 is controversial given limited evidence and even misleading, some say.
Developing some of the first coronavirus vaccines and antibody testing kits, venture-backed firms in China have responded fast and partnered actively in the fight against the pandemic, helping them to raise new funds and reach deals. But there have been cautionary tales in other sectors and some investors remain wary.
With growing cases and deaths reported just as the country was preparing to ease some of its most restrictive COVID-19 measures, China takes new control steps amid low booster vaccine uptake and moves to halt the online sale of a repurposed domestic antiviral.