BRIEF—AstraZeneca said to be eyeing China business spinout

UK pharma major AstraZeneca has drafted plans to break out its China business and list it as a separate company in Hong Kong, or maybe Shanghai, as a way of protecting the company from geopolitical tensions, according to a report by the Financial Times this morning (https://ft.pressreader.com/v99c/20230619)

One consultant to pharmaceutical companies said that pursuing a domestic listing could help AstraZeneca court Beijing’s support for drug innovation and win faster approvals for therapies developed in China.

AstraZeneca is the largest overseas drugmaker in China by sales, generating $1.6 billion there in the first quarter.