WuXi AppTec Posts Lower Profits But Avoids More Share Price Pain

Quick Summary:

Key Takeaways: U.S.sales dipped slightly, with limited impact for now from a proposed law that could limit Chinese access to the U.S.drugs market, where WuXi AppTec makes nearly two thirds of its revenue

China’s drug services companies are cutting prices in a battle for business, eating into profit margins By Molly Wen

Drug services giant WuXi AppTec Co.Ltd. still faces a threatened ban on doing work for U.S.federal agencies, and its Covid-related business has taken a dive.

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Author / Journalist: The Bamboo Works

Category: Technology

Markets: United StatesChinaHong Kong

Topics: Tech General Benzinga Markets Asia Contributors

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-08 @ 15:01:28 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 1148 words

Reading Time: 7 minutes read

Sentences: 44 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21987583

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