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China suspends Bristol-Myers' cancer drug over findings at U.S. plant

Published 03/25/2020, 09:59 AM
Updated 03/25/2020, 10:00 AM
© Reuters. FILE PHOTO: Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured on the blouse of an employee in Le Passage

(Reuters) - China has suspended sale, import and use of Bristol-Myers Squibb (NYSE:BMY) Co's cancer drug, Abraxane, the U.S. drugmaker's China marketing partner said on Wednesday.

The suspension by China National Medical Products Administration is based on inspection findings at Bristol-Myers' contract manufacturing facility in the United States, partner Beigene Ltd said.

Beigene and Bristol-Myers were working to restore supply as soon as possible, said the China-based drugmaker, which signed an agreement with Bristol-Myers' Celgene (NASDAQ:CELG) unit in 2017 to market and distribute Abraxane.

Along with remediation efforts, Bristol-Myers has applied for approval to source its supply of Abraxane for the China market from an alternative manufacturing facility, Beigene said.

 

Latest comments

Just another reason to get out of China.Lee's Chinese manufacturers and Drug Company Consortium will be under strict scrutiny after covid-19. those companies that move production to United States will be rewarded as the consumers eyes have now been opened.Consumers will become all too aware of the lopsided profit margins drug companies currently benefit from.For far too long drug companies have always argued about the exorbitant costs required bring a product to Market. the American Consumer will no longer tolerate such language. This is not a talking point that will go away over time. covid 19 is an historical event that will be forever on the minds of all Americans.Now more than ever, drug manufacturers will have to come to terms with the reality of lower profit margins, however they will be rewarded with consumer loyalty and knowledge.
I guess you forgot how US treated Chinese company, you probably knew Huawei. Fair?
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