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The Biotechnology Industry Organization (BIO) is cutting ties with WuXi AppTec, a China-based biopharmaceutical company, following concerns of national security and ties to the Chinese government. This decision comes after reports of WuXi's market value dropping over 40% and the potential impact on drug shortages in the US. BIO is supporting the BIOSECURE Act to limit China's role in the US biotech industry.
Biotechnology and life sciences research is critical to ensuring the United States can compete in the 21st century. As a member of @BipartisanVets, I sat down with members of @NatSecBioTech to hear more about their work to bolster our national security through biotech. https://t.co/RAHDcIDXnA
⚡Hang Seng Index $HSI falls by 2%, and the Tech Index is now down 2.8%. Wuxi AppTec tumbled by 5% and Wuxi Bio was down 6.7%. Biotechnology Innovation Organization revised the announcement to WuXi Apptec proactively ending its relationship with BIO. #China… https://t.co/1l5DL4TdRc
WuXi AppTec Says It Left Washington Lobbying Group Voluntarily https://t.co/WYvSTZOyUm
