Jan 6 (Reuters) - China's WuXi Biologics ( WXIBF ) said
on Monday it will sell its vaccine facility in Ireland to Merck ( MRK )
for about $500 million.
WuXi had previously said it was planning to sell some of its
operations as the company, along with other Chinese firms, has
been at the center of new U.S. laws aimed at restricting their
businesses in the United States due to national security
concerns.
The bill, called the Biosecure Act, which was passed by the
U.S. House of Representatives in September, is designed to keep
Americans' personal health and genetic information from foreign
adversaries and to push local pharmaceutical and biotech
companies to reduce their reliance on China for everything from
drug ingredient manufacturing to early research.
WuXi AppTec had said in December its
subsidiaries had signed a deal with U.S.-based private equity
firm Altaris LLC for the sale of its cell and gene therapy
manufacturing unit, WuXi Advanced Therapies, for an undisclosed
sum.