After months of sharp share-price declines, WuXi AppTec and WuXi Biologics enjoyed a brief respite Wednesday amid new uncertainties about the legislative path of the BIOSECURE Act.
Two manufacturers are joining forces to court biopharma companies looking for service providers outside of China.
As the BIOSECURE Act advances in congress that would restrict U.S. business with certain Chinese biotechnology companies, it now provides U.S. companies until 2032 to find new service providers.
The amended BIOSECURE Act adds WuXi Biologics to its list of targets and gives companies until the start of 2032 to halt work with the Chinese CDMO giants.
Amid a U.S. biosecurity crackdown, Chinese CDMO WuXi Biologics has quietly exited what is perhaps the biotech industry’s biggest event of the year.
Almost 20 biopharma and life sciences companies have registered to lobby on a bill that could ban US companies from working with Chinese life sciences contractors, according to federal records.
WuXi Biologics Reports Solid 2023 Annual Results
WuXi Biologics touted its partnerships and contracts in its annual report on Tuesday, noting that it has almost 700 projects in its pipeline, which can help supply the service provider with security.