Big Pharma’s China gamble
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 23 July 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
US House Speaker Mike Johnson sent home Congress members early to avoid a vote on releasing files on Jeffery Epstein, Nigeria’s recalculated GDP reflects a 30 per cent growth of its economy, and US President Donald Trump’s tariffs have hit General Motors' profits. Plus, global pharma companies have spent a record amount on Chinese biotech this year and Coca-Cola is putting cane sugar back in Coke.
Mentioned in this podcast:
Mike Johnson shuts US House early to avoid Epstein vote
Nigeria’s economy 30% bigger after GDP recalculation
Big Pharma is increasingly reliant on Chinese biotech advances
GM profits hit by Trump’s tariffs while EV sales more than double
Coca-Cola to launch cane sugar-based Coke in US this autumn
Today’s FT News Briefing was produced by Sonja Hutson, Katya Kumkova, and Marc Filippino. Additional help from Kelly Garry and Michael Lello. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | For over 40 years, Equinoor has been an energy partner to the UK. |
| 0:04.1 | During that time, we've played our part in the switch from coal to gas, |
| 0:07.1 | and we're working hard to help the UK's energy transition. |
| 0:10.2 | We may not have all the answers yet, but we're determined to find them. |
| 0:13.5 | Equinor, an energy company, searching for better. |
| 0:16.9 | 99.6% of Equinor's energy output is oil and gas. |
| 0:20.5 | Our investment in renewables and low-carbon |
| 0:22.4 | solutions has increased from 4% in 2020 to 27% in 2024. Find out more at equinor.com. |
| 0:32.1 | Good morning from the Financial Times. Today is Wednesday, July 23rd, and this is your FT News briefing. |
| 0:44.1 | Republicans are trying to contain a crisis over Jeffrey Epstein, and Nigeria has a shiny new GDP number to show off. Plus, pharmaceutical companies are buddying up to Chinese biotechs, |
| 0:50.4 | but is this relationship what the doctor ordered? |
| 0:53.9 | I'm Mark Filipino, and here's the news you need to start your day. |
| 1:04.9 | U.S. House Speaker Mike Johnson wants to steer clear of a vote on releasing files related to pedophile financier Jeffrey Epstein. |
| 1:12.8 | Yesterday, Johnson made the call to start their summer break early to avoid a vote altogether. |
| 1:17.6 | The controversy over the Epstein case was refueled last week. |
| 1:21.3 | The Wall Street Journal reported that U.S. President Donald Trump had allegedly sent Epstein a birthday message in 2003 that referred to, quote, |
| 1:29.1 | secrets. Trump called the journal story false and sued the newspaper, its parent company, and its |
| 1:34.4 | owner, Rupert Murdoch. Epstein died by suicide in a jail cell in 2019 when he was awaiting |
| 1:40.4 | trial on sex trafficking charges of underage girls. Even though Johnson blocked the vote on the files, |
| 1:47.0 | several members of his own party are calling for them to be made public. |
| 1:56.6 | Nigeria's economy has gotten an upgrade, at least on paper. |
| 2:00.8 | A new statistical model shows its |
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