WuXi AppTec Co., Ltd. Class H (HK:2359) has released an update.
WuXi AppTec Co., Ltd., a key player in the global healthcare community, has been labeled a ‘biotechnology company of concern’ by the U.S. House’s proposed BIOSECURE Act, a designation the company strongly disputes. The act, which has yet to go through the Senate, could restrict U.S. government agencies from using certain biotechnology equipment or services from WuXi AppTec but includes a clause allowing ongoing contracts until 2032. The company reassures that it poses no security threat and continues to engage with stakeholders in the legislative process while advising shareholders and potential investors to exercise caution.
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