China's WuXi explores sale of pharma units as US restrictions loom, FT reports

WuXi Biologics (Cayman)

03/10/2024 10:24

Oct 3 (Reuters) - Chinese biotech companies WuXi AppTec
 603259.SS  and WuXi Biologics  2269.HK , which are being
targeted by a forthcoming U.S. national security legislation,
are working on sales of some of their operations, the Financial
Times reported on Thursday, citing people familiar with the
matter.
    WuXi AppTec has put its cell and gene therapy manufacturing
arm WuXi Advanced Therapies, which operates four laboratories
and manufacturing facilities in Philadelphia, up for sale, the
newspaper reported. 
    WuXi Biologics is also working with advisers to test
interest in some of its European production facilities, FT
reported, citing three people familiar with the situation.
    
    
    
    

 (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Sonia
Cheema)
 ((rishabh.jaiswal@thomsonreuters.com;))