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Chinese biotech giant WuXi AppTec’s shares jump after Pentagon blacklist reversal

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SCMP - Feed 91
By Xinmei Shen
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Chinese biotech giant WuXi AppTec’s shares jump after Pentagon blacklist reversal
Photo / Coverage: SCMP - Feed 91Credit: Xinmei Shen
EXECUTIVE SUMMARY

WuXi AppTec’s shares jumped on Tuesday after the Pentagon removed the company from a list of entities allegedly linked to the Chinese military, marking a win for the biotech service giant and raising hopes among other mainland firms challenging US blacklists. The US deputy secretary of defence decided to delist WuXi AppTec from its list of “Chinese military companies”, according to a notice published on the Federal Register on Tuesday. WuXi AppTec surged more than 6 per cent at the open in Hong.

Key Takeaways

  • Chinese biotech giant WuXi AppTec’s shares jump after Pentagon blacklist reversal.
  • The US deputy secretary of defence decided to delist WuXi AppTec from its list of “Chinese military companies”, according to a notice published on the Federal Register on Tuesday.
  • WuXi AppTec surged more than 6 per cent at the open in Hong.

WuXi AppTec’s shares jumped on Tuesday after the Pentagon removed the company from a list of entities allegedly linked to the Chinese military, marking a win for the biotech service giant and raising hopes among other mainland firms challenging US blacklists. The US deputy secretary of defence decided to delist WuXi AppTec from its list of “Chinese military companies”, according to a notice published on the Federal Register on Tuesday. WuXi AppTec surged more than 6 per cent at the open in Hong...

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