Reported 7 months ago
Shares of WuXi Biologics Cayman Inc. spiked the most in 19 months amidst speculation that a US bill targeting Chinese biotech companies might be excluded from the National Defense Authorization Act, relieving concerns that the company would be cut off from US pharmaceutical production chains. The stock surged 14% in Hong Kong, the highest since November 2022, after the bill was not added to the NDAA, with analysts suggesting potential obstacles delaying a decision before the presidential election and uncertainty over the global pharmaceutical supply chain excluding China. Sister company WuXi AppTec Co. responded by stating they will closely monitor the legislative process.
Source: YAHOO