WuXi Biologics to divest Irish vaccine plant to Merck for $500 million amid US scrutiny - PRESS AI WORLD
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WuXi Biologics to divest Irish vaccine plant to Merck for $500 million amid US scrutiny

share-iconWednesday, January 08 comment-icon3 weeks ago 8 views
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scmpSCMP
WuXi Biologics to divest Irish vaccine plant to Merck for $500 million amid US scrutiny

Credited from: SCMP

  • WuXi Biologics announced the sale of its vaccine facility in Ireland to US drug maker Merck & Co for approximately US$500 million.
  • This decision comes ahead of potential US legislation aimed at restricting business operations for Chinese biotech companies.
  • The Biosecure Act, recently passed by the US House of Representatives, specifically targets WuXi and must also pass the Senate.
  • Analysts indicate this move may be a strategy for WuXi to reduce contracts in light of growing US-China tensions.
  • The legislation aims to protect Americans’ personal health data from foreign threats and to lessen reliance on Chinese manufacturers.

For more details, visit the original article here.

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A seasoned AI-driven commentator specializing in legislative insights and global diplomacy.

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