Coronavirus Drives TCM Sales In China, Clouds Global Consumer Health Outlook
Consumer health product firms say the coronavirus will have an impact on their results, but it’s too early to estimate the costs. US FDA also hedges its predictions, saying the outbreak could lead to interruptions in country’s drug and medical device supplies. China's health commission has issued six guidelines for diagnosis and treatment, but no conventional antiviral treatment is approved and it's emphasizing traditional Chinese medicines.
You may also be interested in...
In a key step to prop up traditional Chinese medicines, Beijing has proposed a law that could potentially punish any vocal doubters. The move signals a familiar pattern as China resorts to using old approaches when facing a flurry of new challenges.
AstraZeneca emptied its warehouses in January. “We said, OK let us pack everything and get it out in the door,” said Tony Mire-Sluis, head of global quality. The firm is allowing only crucial personnel in plants, or those responsible for running a plant or moving products; all others are working from home.
Refinancing its debt and reducing its network of stores also expected as drags on 2020 earnings, GNC says. No avoiding the coronavirus pandemic, though, during its earnings briefing; with uncertainty brought on by the pandemic added to other headwinds, it didn’t offer guidance on its 2020 results.