US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 10 2024
0mins
Source: Investing.com
- New Version of Bill: A new version of a bill aims to restrict U.S. business with specific Chinese biotechnology companies, extending the deadline for companies to end partnerships until 2032.
- Companies of Concern: The bill includes WuXi AppTec, BGI, MGI, Complete Genomics, and adds WuXi Biologics to the list of biotech companies raising concerns.
- Legislative Process: The revised Biosecure Act is set to be introduced in the U.S. House of Representatives committee, which will decide on its progression next week.
- Purpose of Bills: The bills are focused on safeguarding Americans' personal health and genetic information from foreign adversaries.
- Industry Response: Industry association BIO's president highlighted the importance of reducing reliance on China-based biomanufacturing and the reasonable timeframe provided by the bill.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
