China’s WuXi explores sale of pharma units as US restrictions loom, FT reports

FILE PHOTO: Illustration picture of WuXi AppTec

(Reuters) – Chinese biotech companies WuXi AppTec and WuXi Biologics, which are being targeted by a forthcoming U.S. national security legislation, are working on sales of some of their operations, the Financial Times reported on Thursday, citing people familiar with the matter.

WuXi AppTec has put its cell and gene therapy manufacturing arm WuXi Advanced Therapies, which operates four laboratories and manufacturing facilities in Philadelphia, up for sale, the newspaper reported.

WuXi Biologics is also working with advisers to test interest in some of its European production facilities, FT reported, citing three people familiar with the situation.

(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Sonia Cheema)