China's most valuable drugmaker in global push

China’s largest drugmaker by market value forecast a revenue surge in the second half of this year as more of its drugs get approved overseas and said it plans to bolster its international presence over time through deals of up to $2 billion. Jiangsu Hengrui Medicine is looking to buy companies making both generic and innovative pharmaceuticals, Sun Piaoyang, its chairman and founder said in an interview on the sideline of China’s National People’s Congress meeting, according to Bloomberg.  Hengrui has invested heavily to gain access to the US, the world’s largest pharmaceutical market and the company’s oncology injection therapy Docetaxel was recently approved for sale by the Food and Drug Administration. While President Donald Trump has vowed to bring drug manufacturing back to the US and to reduce prices through government bidding, Sun said that Hengrui is unlikely to be affected because it sells mainly generic drugs in the US, which typically help bring down costs.