• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

2

Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less

3

Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’

1

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

2

Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less

3

Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
HealthCoronavirus

Overwhelmed by a massive outbreak, China authorizes emergency use of Merck COVID pill Lagevrio

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
December 30, 2022, 5:11 AM ET
With pharmaceutical supplies dwindling in the middle of a massive outbreak, China approved in Merck's Lagevrio only the second COVID therapy developed abroad.
With pharmaceutical supplies dwindling in the middle of a massive outbreak, China approved in Merck's Lagevrio only the second COVID therapy developed abroad.Stringer—Anadolu Agency via Getty Images
Add Fortune on Google for similar content.

China has approved Merck & Co’s Covid-19 antiviral molnupiravir for emergency use as Beijing seeks to expand access to treatments amid a massive wave of infections following its abrupt pivot away from Covid Zero in early December.

The drug, known by the brand name Lagevrio, has been granted conditional emergency approval for treating mild and moderate infections among adults at risk of progressing to severe disease, China’s National Medical Products Administration said Friday. It’s the second foreign Covid-19 treatment cleared for use in China after authorities gave Pfizer Inc’s Paxlovid the go-ahead in early 2022. 

China’s surging wave of infections has caused domestic shortages for everything from fever-reducing medicines to antivirals that prevents severe disease. The effects have also rippled beyond China’s borders, with pharmacies in places such as South Korea, Singapore and Japan being emptied of medicines to be then sent to China.

Friday’s approval came after the US drugmaker struck a deal in September with Chinese state-owned firm Sinopharm to import and market molnupiravir in China. The country has so far relied almost solely on homegrown medicines and vaccines to shore up immunity and treat Covid patients. 

While Pfizer’s Paxlovid is approved for use, it has been in short supply in China amid the ongoing outbreak. That’s prompted people to turn to the black market for the medication or for generic versions meant to be supplied to poorer countries, not China.

Another foreign drugmaker waiting for Chinese approval of its medicine is Japan’s Shionogi & Co., which is looking to sell its Covid antiviral Xocova in the world’s second-biggest economy. Shionogi said on Dec. 23 that its joint venture in China had signed a licensing agreement with Shanghai Pharmaceuticals Holding Co. for import and distribution of Xocova in mainland China. Shanghai Pharma will exclusively import the drug into China and deliver it after approval.

State-owned medical product distributor China Meheco Group Co. firmed up a deal in December with Pfizer to import and distribute Paxlovid in the country. Zhejiang Huahai Pharmaceutical Co and Ascletis Pharma Inc each have a pact to make Paxlovid ingredients locally.

Our new weekly Impact Report newsletter examines how ESG news and trends are shaping the roles and responsibilities of today's executives. Subscribe here.

About the Author
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Health

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Health

A pedestrian walks past a Gucci luxury fashion store at a shopping district on June 24, 2026, in Shenzhen, Guangdong Province, China.
RetailLuxury
Rich consumers taking GLP-1s are rebuying their wardrobes and eating smaller, fancier dishes—it’s a factor saving the luxury sector right now
By Eleanor PringleJune 25, 2026
4 hours ago
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
SuccessBillionaires
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
By Orianna Rosa RoyleJune 25, 2026
7 hours ago
How ‘Ozempic face’ is pushing Gen X, already the biggest Botox and filler consumers, to the facelift table a decade early
HealthGen X
How ‘Ozempic face’ is pushing Gen X, already the biggest Botox and filler consumers, to the facelift table a decade early
By Mia OsmonbekovJune 24, 2026
18 hours ago
The 4 Best Zinc Supplements of 2026: Expert Tested
HealthDietary Supplements
The 4 Best Zinc Supplements of 2026: Expert Tested
By Emily PharesJune 24, 2026
18 hours ago
Helix Plus Lead
Healthmattresses
The Best Early 4th of July Mattress Sales of 2026: Saatva, Helix, and More
By Christina SnyderJune 24, 2026
20 hours ago
mg
CommentaryHealth
The ‘tech neck’ time bomb: why 43 million young Americans could cripple U.S. health care within a generation
By Michael GerlingJune 24, 2026
1 day ago

Most Popular

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
1 day ago
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Retail
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
By Nick LichtenbergJune 24, 2026
23 hours ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
1 day ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
7 hours ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
2 days ago
Trump’s international student crackdown kicked off a domino effect that could shave nearly $500 billion off the economy
Economy
Trump’s international student crackdown kicked off a domino effect that could shave nearly $500 billion off the economy
By Tristan BoveJune 24, 2026
20 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.