Biotech Group's Stance on BIOSECURE Act and WuXi AppTec Split

Thursday, 14 March 2024, 11:20

The biotech industry is in turmoil as the leading trade group, BIO, announces its support for the proposed anti-China bill, the BIOSECURE Act, while cutting ties with WuXi AppTec(WUXIF). This unexpected move signals a shift in relationships within the biotech sector and highlights growing concerns over U.S.-China trade relations.

https://store.livarava.com/eca19500-e1f5-11ee-9670-5254a2021b2b.jpe — Biotech Group's Stance on BIOSECURE Act and WuXi AppTec Split

Biotech group backs anti-China bill; part ways with WuXi AppTec

Biotech trade group BIO supports the proposed anti-China bill, the BIOSECURE Act, and severs ties with its main target WuXi AppTec(WUXIF). This decision reflects the escalating tensions between the U.S. and China.

Key Points:

BIO's backing: The support for the BIOSECURE Act underscores the industry's concerns about intellectual property protection and national security.
WuXi AppTec split: The decision to part ways with WuXi AppTec signals a significant shift in alliances within the biotech sector.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.