Shares in Hong Kong-listed Chinese language biotechnology firms fell on Tuesday after the US Home of Representatives handed a invoice aimed toward proscribing their funding and operations inside America.
WuXi AppTec fell 7.7 per cent, whereas WuXi Biologics shed 3.4 per cent. BGI Genomics dropped 3.3 per cent, whereas CSPC, Sino Biopharm and BeiGene fell 1.5 per cent, 0.3 per cent and 0.6 per cent, respectively.
The bipartisan laws prohibits US taxpayer funds flowing to biotech firms “owned, operated or managed by China or different overseas adversaries”, Republican congressman James Comer, a invoice sponsor, informed the Home.
The Biosecure Act handed the Home 306-81. The laws now goes to the Senate.
Comer criticised a number of firms, alleging that WuXi “helps perform analysis to advertise the Chinese language army, and has reportedly stolen US corporations’ mental property”.
