Jan 6 (Reuters) - China's WuXi Biologics ( WXIBF ) said
on Monday it will sell its vaccine facility in Ireland to U.S.
drugmaker Merck & Co ( MRK ) for about $500 million.
The Financial Times had reported in October that WuXi and
WuXi AppTec are planning to sell some of their
operations, ahead of looming U.S. legislation that would
restrict their business in the United States.
The U.S. House of Representatives passed a bill called the
Biosecure Act in September that would prohibit federal contracts
with targeted firms and those that do business with them.
The legislation must pass the U.S. Senate before it can be
sent to the president to be signed into law.
The bill 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 units 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.