What Happened
Regulatory Pressure Eases On Chinese Biotech Firm
The US Department of Defense has removed WuXi AppTec, a major China-based contract research, development and manufacturing company, from its list of Chinese military companies. The decision follows a US court ruling that suspended the effect of the Pentagon’s designation in a lawsuit filed by WuXi AppTec. The removal may impact the outlook for South Korea’s biotech industry, as companies such as Samsung Biologics and Lotte Biologics had been viewed as potential beneficiaries of US regulatory pressure on Chinese biotech firms. This development was first reported by Businesskorea.