House Panel Probes Merck, AbbVie Over China Trials as Shares Slip Up to 0.6%
Updated
Updated · CNBC · Jun 30
House Panel Probes Merck, AbbVie Over China Trials as Shares Slip Up to 0.6%
3 articles · Updated · CNBC · Jun 30
Summary
Merck fell 0.6% and AbbVie slipped 0.5% in premarket trading after Reuters reported a U.S. House committee had opened a probe into their drug trials in China.
The committee is examining whether those trials aided China's military capabilities, putting the companies under fresh political and regulatory scrutiny.
The stock moves were modest but placed both drugmakers among notable premarket decliners as investors weighed the potential fallout from the congressional investigation.