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Spring Shopping: Ping An Bets On Shionogi, TCMs In Coronavirus Aftermath

 
• By Brian Yang

China insurance giant snatches up stakes in Japanese pharma and a traditional Chinese medicines maker with a $465m spending spree.

Money Wave
PING AN INSURANCE BETS BIG ON SHIONOGI, TCM AMID CORONAVIRUS AFTERMATH • Source: Shutterstock

As the global battle against coronavirus marches on, China's Ping An Insurance is betting that integrated health solutions and traditional Chinese medicines will see strong growth in a post-outbreak world.

This view has prompted China's largest insurer to invest a combined CNY33bn, or around $465m to build stakes in two drug manufacturers, one being Japan's Shionogi & Co. Ltd.,...

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