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GSK Leaves BIO, Joining Other Major Companies in Withdrawing Membership
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GlaxoSmithKline (GSK; NYSE: GSK), a leading pharmaceutical company based in the UK, has reportedly withdrawn from the US industry trade group Biotechnology Innovation Organization (BIO). This decision follows a similar trend set by Pfizer (NSE: PFIZER), UCB (EBR: UCB), WuXi AppTec (HKG: 2359, SHA: 603259), Takeda (TYO: 4502), and other…
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WuXi AppTec Addresses Media Speculation on Potential Sale of WuXi ATU
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WuXi AppTec Co., Ltd (SHA: 603259, HKG: 2359, OTCMKTS: WUXAY), a leading China-based Contract Development and Manufacturing Organization (CDMO), has issued a statement addressing media speculations about the potential sale of its cell and gene therapy segment, WuXi Advanced Therapies (WuXi ATU). The company clarified that no decision has been…
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WuXi AppTec and WuXi Biologics Weigh Asset Sales in US and Europe Over Biosecure Act Concerns
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Reports emerged last week in the Financial Times suggesting that WuXi AppTec (HKG: 2359) and WuXi Biologics (HKG: 2269) are contemplating the sale of certain US and European assets due to the anticipated negative implications of the Biosecure Act, which is currently under review in the US legislative process. Both…
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WuXi AppTec’s H1 2024 Financials Reflect Decline Amid Biosecure Act Challenges
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China-based Contract Development and Manufacturing Organization (CDMO) WuXi AppTec (HKG: 2359) has reported a subdued performance for the first half of 2024, with its financial report indicating a decline in revenues and net profits. Revenues for the period stood at RMB 17.241 billion (USD 2.38 billion), marking an 8.64% year-on-year…
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Consun Pharmaceutical Gets NMPA Go-Ahead for CKD Drug Clinical Trial
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Consun Pharmaceutical Group Ltd (HKG: 1681), a leading Chinese pharmaceutical company, has announced that it has received approval from China’s National Medical Products Administration (NMPA) to commence clinical studies for SK-08. This Category 1 chemical drug, co-developed with Contract Research Organization (CRO) WuXi AppTec (HKG: 2359), is intended to target…
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BIO Surveys Members on China-CDMO Dependence Amid BioSecurity Bill Deliberations
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The Biotechnology Innovation Organization (BIO), a prominent US industry trade group, is conducting a survey among its members to assess the extent of reliance on China-based Contract Development and Manufacturing Organizations (CDMOs), according to a report by FiercePharma.com. The survey, titled “Understanding Key Elements of the Biopharma Supply Chain,” aims…
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US Legislature Reviews BioSecurity Bill to Sever Biotech Industry Ties with Chinese Companies
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On May 15, 2024, the US House Oversight Committee is set to review a “BioSecurity” bill proposal that could have significant implications for the biotechnology industry. The bipartisan-supported bill aims to prohibit companies receiving US government funding from engaging in commercial dealings with certain biotech companies identified as national security…
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WuXi AppTec’s Q1 2024 Revenues Affected by COVID-19 Project Exclusion
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China’s leading Contract Research Organization (CRO), WuXi AppTec (HKG: 2359, SHA: 603259), has announced its financial results for the first quarter of 2024, with revenues reaching RMB 7.98 billion (USD 1.1 billion), marking a slight decrease of 1.8% year-on-year (YOY), excluding COVID-19 commercialization projects. The company’s original customer income stood…
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BIO’s Chief Lobbyist Nick Shipley Resigns Amid Controversy Over WuXi AppTec
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Nick Shipley, the chief lobbyist for the U.S.-based Biotechnology Innovation Organization (BIO), has resigned from his position, as first reported by Endpoints News and confirmed by FiercePharma. Shipley, who joined BIO in 2021 as chief advocacy officer, was responsible for the organization’s interactions with federal and state governments. He departed…
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WuXi AppTec Denies US Allegations of Unauthorized Intellectual Property Transfer
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WuXi AppTec (SHA: 603259, HKG: 2359), a leading Contract Research, Development, and Manufacturing Organization (CRDMO) based in China, has found itself at the center of a controversy following allegations by US intelligence officials. According to a Reuters report, these officials claimed that WuXi AppTec had transferred a client’s intellectual property…
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WuXi AppTec Denies Unauthorized IP Transfer Allegations Amidst Strong Financial Performance
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WuXi AppTec (SHA: 603259, HKG: 2359), a China-based Contract Research, Development, and Manufacturing Organization (CRDMO) , faced allegations this week that could potentially impact its international reputation. According to a Reuters report, US intelligence officials have accused the company of transferring a client’s intellectual property to Beijing without authorization. The…
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WuXi AppTec Posts Modest Revenue Growth Despite Regulatory Hurdles
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WuXi AppTec (HKG: 2359), a China-based Contract Research Organization (CRO), has released its financial results for 2023, reporting an annual operating revenue of RMB 40.34 billion (USD 5.6 billion), representing a year-on-year (YOY) increase of 2.5%. When excluding COVID-19-related commercial projects, sales experienced a substantial growth of 25.6%. The net…
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US Senate Committee Backs Bill to Restrict Chinese Biotechnology Firms’ Access to American Genetic Data
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The U.S. Senate’s homeland security committee has voted 11-1 in favor of the Prohibiting Foreign Access to American Genetic Information Act of 2024, a bill that seeks to curb the operations of Chinese research service providers, including BGI and WuXi AppTec (SHA: 603259, HKG: 2359), within the U.S. The legislation,…
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WuXi ATU’s Philadelphia Facility Approved for Amtagvi Production Following FDA Nod
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WuXi Advanced Therapies (WuXi ATU), a wholly owned subsidiary of WuXi AppTec (SHA: 603259, HKG: 2359) based in China, has announced the U.S. FDA’s approval of its Philadelphia facility to commence analytical testing and manufacturing of Amtagvi (lifileucel) for Iovance. This novel therapy received accelerated approval for its Biologics License…
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US Senate Puts Brakes on Bill Targeting China-Based CDMOs Amid Stock Market Reactions
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A US Congress bill aimed at prohibiting US-funded entities from engaging with various China-based contract development and manufacturing organizations (CDMOs) has reportedly been sidelined by the Senate this week. The bipartisan legislation, which previously triggered a significant decline in stock prices for companies like WuXi AppTec (HKG: 2359, SHA: 603259),…
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WuXi AppTec Expands Peptide Manufacturing Capacity with Two New Plants in China
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WuXi AppTec (HKG: 2359, SHA: 603259), a leading China-based Contract Research, Development, and Manufacturing Organization (CRDMO), has announced the commissioning of two new peptide manufacturing plants. One plant is located at its existing facility in Changzhou, and the other is a new site in Taixing. This expansion adds 32,000 liters…
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Ji Xing Pharmaceuticals Partners with WuXi STA for Sterile Nasal Spray Production
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Shanghai-based Ji Xing Pharmaceuticals, backed by RTW Investments, has formed a strategic partnership with WuXi STA, a subsidiary of WuXi AppTec (HKG: 2359, SHA: 603259), to establish a sterile nasal spray production line. This collaboration aims to leverage the strengths of both companies, with the new production facility set to…
