WuXi Biologics downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs downgraded WuXi Biologics to Neutral from Buy with a price target of HK$21.60, down from HK$50. The firm notes the China CRO/CDMO sector has experienced significant market volatility following the introduction of a draft version of the “BIOSECURE Act” bill in the U.S. House of Representatives on January 25 – and a subsequent, similar bill proposed in the U.S. Senate last week.