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2:28 PM
Jun 25, 2019
 |  BC Extra  |  Company News

WuXi AppTec raising U.S. profile to counter political attacks

WuXi AppTec plans to raise its profile in the U.S. in the hope that a better understanding of its activities will de-escalate political attacks on the company, co-CEO Edward Hu told BioCentury.

While restrictions on Chinese investment in life sciences companies and U.S.-China trade tensions have not curtailed the activities of WuXi AppTec Co. Ltd. (Shanghai:603259; HKEX:2359), they have shaken investor confidence. WuXi’s stock has slipped 8% to HK$64 since June 20 following congressional attacks on Chinese life sciences companies and investors (see “Fearmongering about China”).

WuXi has kept a low profile in the U.S., Hu said.

But now it wants to highlight its role in enabling innovation by U.S.-based biopharma companies, as an employer, and as a promoter of economic development.

“Maybe we have been too low profile, not spending enough time educating on WuXi's role and contribution to the life sciences industry,”...

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