Wuxi AppTec, Asia’s largest provider of contract pharmaceutical research, has raised HK$7.70 billion (US$981 million) through a sale of additional shares in Hong Kong as it rides the wave of bullish appetite for Chinese biotechnology shares. The Shanghai-based company sold 73.8 million new shares to institutional investors at HK$104.27 each, a 6.9 per cent discount…
Wuxi AppTec, Asia’s largest provider of contract pharmaceutical research, has raised HK$7.70 billion (US$981 million) through a sale of additional shares in Hong Kong as it rides the wave of bullish appetite for Chinese biotechnology shares. The Shanghai-based company sold 73.8 million new shares to institutional investors at HK$104.27 each, a 6.9 per cent discount…
The Hang Seng Index edged up 0.1 per cent to 23,495.17 at 10.05am local time, while the Hang Seng Tech Index was 0.5 per cent lower. On Friday, the indexes ended up 4 per cent and 6.5 per cent, respectively, their best trading day since October. On the mainland, the CSI 300 Index and the…
(Reuters) -China’s WuXi AppTec said on Tuesday its subsidiaries have signed a deal with U.S.-based private equity firm Altaris LLC for the sale of its cell and gene therapy manufacturing unit, WuXi Advanced Therapies, for an undisclosed sum. The company, along with other Chinese firms, have been at the center of new U.S. laws aimed…
The Biosecure Act, recently passed by the US House of Representatives, marks a significant escalation in efforts to decouple the American and Chinese biotech ecosystems. The bill, which passed with strong bipartisan support, would prohibit federal funding for US companies that do business with several named Chinese biotech firms, including industry giants Wuxi AppTec and…