Wuxi, China biotech stocks surge on hopes of less severe US sanctions By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 09 2024
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Source: Investing.com
Chinese Biotechnology Stocks Surge: Chinese biotechnology stocks, particularly WuXi AppTec and WuXi Biologics, saw significant gains after the exclusion of the Biosecure Act from the U.S. National Defense Authorization Act (NDAA), which would have restricted U.S. business with these firms.
Legislation Context: The Biosecure Act aimed to block contracts with certain Chinese biotech companies due to national security concerns but faced bipartisan opposition in the U.S., while ongoing tensions between the U.S. and China regarding trade remain a concern.
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.
