WuXi AppTec, WuXi Biologics surge in Hong Kong as biotech firms put some operations for sale

Quick Summary:

The gains were made on the back of a report that said the two firms plan to sell certain overseas operations amid heightened US scrutiny.

The reported divestment initiatives show the two companies’ efforts to head off the potential impact of the Biosecure Act, which must be approved by the US Senate before it goes to President Joe Biden for his signature.

One of about 10 facilities operated in mainland China by WuXi Biologics, a global contract research, development and manufacturing organisation.

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Article Details

Author / Journalist: Zhou Xin

Category: Business

Markets: Hong KongChinaGermanyIrelandUnited States

Topics: Biotech Friday Apptec Biologics Wuxi Report Chinese Hong Facilities Shares Kong

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-04 @ 18:00:09 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 237 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 34 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 22878818

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