WXIBF - US Intelligence Claims Chinese Pharma Giant Illegally Shared Secrets With Beijing | Benzinga
U.S. intelligence officials have informed senators that WuXi AppTec Co Ltd (OTC:WXIBF), a Chinese pharmaceutical company, allegedly transferred U.S. intellectual property to Beijing without authorization. This news comes amid concerns that certain Chinese biotech firms are providing technology or research and development for use by the Chinese military.
What Happened: The officials representing the FBI, the State Department, and the Office of the Director of National Intelligence disclosed this information during a classified briefing to a group of senators working on a biotech security bill in late February, Reuters reported, citing two sources on Thursday.
The briefing also highlighted that WuXi AppTec and other Chinese entities had been involved in activities in the U.S. contrary to U.S. national security interests.
The officials’ concerns were based on recent intelligence reports indicating that WuXi AppTec had transferred a U.S. client’s intellectual property to Chinese authorities without consent. The client’s identity and the nature of the information were not disclosed due to the classified nature of the material.