Wuxi stocks bounce back as Biosecure threat fades

A little more than a year after the introduction of the Biosecure Act, the legislation appears to be dead and shares of the two companies most impacted by the bill, Wuxi Apptec and Wuxi Biologics, are closing in on a roundtrip.

The January 2024 introduction of Biosecure, which sought to rein in Chinese CDMOs and genomics companies in the U.S., shaved billions of dollars off the market caps of  Wuxi Apptec Co. Ltd. (Shanghai:603259; HKEX:2359) and Wuxi Biologics Inc. (HKEX:2269). The CDMOs were directly named in the legislation. MGI Tech Co. Ltd. (Shanghai:688114) and BGI Genomics Co. Ltd. (SZSE:300676), also named in the bill, were less affected...