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China's WuXi explores sale of pharma operations as US restrictions loom, FT reports
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China's WuXi explores sale of pharma operations as US restrictions loom, FT reports
Oct 3, 2024 3:04 AM

Oct 3 (Reuters) - WuXi AppTec and WuXi

Biologics ( WXIBF ) are planning to sell some of their

operations after the Chinese biotech companies were targeted by

the U.S. on national security grounds, the Financial Times

reported on Thursday.

WuXi AppTec has put its cell and gene therapy manufacturing

unit WuXi Advanced Therapies, which operates four laboratories

and manufacturing facilities in Philadelphia, up for sale, the

newspaper reported, citing people familiar with the matter.

WuXi Biologics ( WXIBF ) is working with advisers to test interest in

some of its European production facilities, FT said.

Wuxi AppTec and Wuxi Biologics ( WXIBF ) did not immediately respond

to a Reuters request for comment.

The U.S. House of Representatives passed a bill last month

aiming to restrict business with China's WuXi AppTec and several

other biotech companies on national security grounds.

The bill was passed by 306 to 81 votes, topping the

two-thirds majority needed, following which it must pass the

U.S. Senate before it can be sent to President Joe Biden to be

signed into law.

China's foreign ministry has described the bill as

"discriminatory", saying that the U.S. should stop making

"excuses" to suppress Chinese enterprises.

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