FT News Briefing Big Pharma’s China gamble
28 snips
Jul 23, 2025 Congress faces controversy as early dismissals avoid a vote on Epstein documents. Nigeria surprises with a 30% GDP growth, reflecting its evolving economy. U.S. tariffs strain automakers like General Motors, while Big Pharma increasingly partners with Chinese biotech to tackle costs and access challenges. Coca-Cola plans a nostalgic return to cane sugar in Coke. It's a tangled web of politics, economics, and corporate strategy that shapes the global market.
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Nigeria's GDP Overhaul Revealed
- Nigeria's revised GDP is 30% larger due to updated accounting for digital services, pensions, and informal sectors.
- Agriculture now leads output, reshaping views on its economic drivers.
Tariffs Hurt US Car Industry
- US tariffs heavily impact car makers like GM, causing profit drops and stock declines.
- Exposure to manufacturing abroad underpins vulnerability to these levies.
Big Pharma's China Licensing Risks
- Big Pharma increasingly licenses drug development to Chinese biotechs to cut costs and access innovation.
- Rising US tariffs pose a risk by potentially increasing costs and disrupting supply chains.