WUXIF - Potential U.S. Targeting Casts Shadow Over WuXi AppTec Family

2024-02-08 07:41:00 ET

Summary

• WuXi AppTec, which could be banned from doing business with federal agencies under proposed legislation, derived 65% of its revenue from the U.S. in the first half of last year.
• The provider of outsourced services to drug makers said it has never sponsored Chinese military projects or received any direct military investment.
• Demand for WuXi AppTec’s services is likely to remain strong, since drug development is still a fast-advancing field.

Proposed U.S. legislation could ban federal agencies and federally funded institutions from buying devices and services from Chinese biotech companies. ...

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