tradingkey.logo

BUZZ-Hong Kong-listed WuXi Biologics falls as co sells Irish vaccine facility

ReutersJan 7, 2025 2:38 AM

Shares of China's WuXi Biologics 2269.HK fall 5.9% to HK$15.62, on track for their biggest one-day pct drop since Oct 15 if current losses hold

Stock hits the lowest level since Dec 3 on its second straight session of decline; second-biggest pct loser in the Hang Seng Index .HSI, which slips 0.6%

Co said on Monday it would sell its vaccine facility in Ireland to U.S. drugmaker Merck & Co MRK.N for about $500 mln, ahead of potential U.S. legislation that would restrict business for Chinese biotech companies

The U.S. House of Representatives passed the Biosecure Act in September, which would ban federal contracts with targeted firms and their business partners

The Hang Seng Commerce & Industry Index .HSNC eases 0.8% and the healthcare index .HSCIH declines 0.7%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Related Articles

KeyAI