WuXi Biologics rebounds, says share buyback to continue as planned

WuXi Biologics (Cayman)

05/02/2024 04:12

** Shares of WuXi Biologics  2269.HK  rebound 6.3% to
HK$17.84 after they dropped 31.7% last week on concerns over the
U.S. biotech bill
    ** The contract drug research and development firm reaffirms
CEO Chris Chen has never been employed by military-affiliated
institution or received compensation from any such institution
    ** "The company does not have a human genomics business or
collect human genomic data in its businesses," the co said,
adding its operation remains sound and it will continue to
execute $600 mln share repurchase as announced
    ** WuXi AppTec's Hong Kong shares  2359.HK  rebound
9.8%after they plunged 32.4% last week
    ** "WuXi AppTec has not posed, does not pose and will not
pose a national security risk to any country," WuXi AppTec said,
adding that it does not affiliated with any government or armed
force
    ** WuXi AppTec, which plans 1 bln yuan ($139.30 mln) A
shares buy back, says it does not have a human genomics business
and does not collect human genomic data in businesses
    ** WuXi AppTec's Shanghai shares  603259.SS  add 1.7% after
they dropped 23.9% last week
    ** WuXi AppTec's Hong Kong shares plunged 40.5% YTD,
Shanghai stock dropped 29.6%, WuXi Biologics down 40.7% YTD 

        

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))