Update: Market Chatter: US Committee Launches Probe Against Five Drugmakers Over China Clinical Trials
(Updates to add Eli Lilly comment in the fourth paragraph)A US congressional committee on China has launched investigations into whether five major pharmaceutical companies conducted clinical trials in China that may have supported Chinese military capabilities, according to a Reuters report on Tuesday, citing sources.The chair of the U.S. House Select Committee on China opened national security investigations into drugmakers, including Merck, AbbVie, Eli Lilly, Pfizer, and Bristol Myers Squibb, the report said.According to letters quoted in the report, the inquiry focuses on due diligence, data protection, and trial locations, including sensitive sites like Xinjiang and military hospitals. Republican Representative John Moolenaar of Michigan has asked for details of the due diligence by July 17.An Eli Lilly representative, in an email response to' request for comment, said the company "is reviewing closely" the letter it received from the House Select Committee on China.Meanwhile, Merck, AbbVie, Pfizer, and Bristol Myers Squibb did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
