Sino-American Biophamra Tension Mounts—Largest Chinese CRO’s Share Price Tanks with Pending Bill Blocking Business with China

One of the world’s largest pharma and biotech-focused contract research organizations faced a huge sell-off of shares as the publicly traded Chinese company was targeted as part of a bill sponsored by the U.S. Congress, although there was a delay in the U.S. Senate. On January 26, WuXi AppTec 603259.SS shares were priced at $73.48. In one night, the shares declined by 21%. What a difference a piece of news makes as with the announcement the stock plummeted to $59.37 by January 29!

Protectionist legislation inhibiting global trade in the life sciences becomes ever more popular in Washington DC., especially when it comes to responding to global aspirations of the People’s Republic of China in key industry such as the life sciences, which includes pharmaceuticals, biotech, diagnostics, and medical devices as well as digital products, including artificial intelligence.