Around 80 percent of the raw materials for Merck's biopharma products are still imported, primarily from France, Switzerland, and Germany. |P&G's raw materials are also around 75-80 percent imported, primarily from China, so geopolitical dynamics are a concern for the company. |Merck manages exchange rate risk through hedging at the group level, intercompany transactions in rupiah, and natural hedging from export activities.
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Around 80 percent of the raw materials for Merck's biopharma products are still imported, primarily from France, Switzerland, and Germany. |P&G's raw materials are also around 75-80 percent imported, primarily from China, so geopolitical dynamics are a concern for the company. |Merck manages exchange rate risk through hedging at the group level, intercompany transactions in rupiah, and natural hedging from export activities.