01:41 PM EDT, 03/27/2024 (MT Newswires) -- AstraZeneca ( AZN ) Chief Executive Pascal Soriot does not see any impact from the Biosecure Act, a US bill that would essentially ban Chinese pharmaceuticals from receiving federal contracts if they are a concern, according to Bloomberg.

In an interview with Bloomberg, Soriot said drugs manufactured in China will be intended for that country, while those produced in the US or Europe will remain for the Western world.

"The fact that the product was invented here [in China] doesn't mean the product is necessarily sourced from China for the entire world," Soriot told Bloomberg on the sidelines of the BOAO Forum for Asia being held in China.

AstraZeneca ( AZN ) is also organizing its supply chain to provide medicines to the US and Europe independently, while building a separate presence in China for that market, the CEO said.

The company did not immediately respond to a request for comments by MT Newswires.

(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.)

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