Foreign pharma giants announce major Mexico investments

Pharma giants AstraZeneca, Bayer and Boehringer Ingelheim on Thursday announced investments in Mexico worth hundreds of millions of dollars, despite trade tensions between the country and the United States. Britain's AstraZeneca and Germany's Bayer and Boehringer Ingelheim, together with Mexico's own Carnot Laboratories, unveiled plans to plough a combined $600 million into their Mexican operations.

The announcement comes as Mexico scrambles to avert a 30-percent tariff on many of its exports to the United States, which had been meant to take effect last week but which Trump agreed to delay by 90 days.