News summary
WuXi Biotech (02269) was included in the definition of "biotechnology company of concern" in the revised draft bill of the U.S. House of Representativescryptogameswithmostusers, but the company said it is not engaged in human genomics business and will continue to follow strict compliance standards to serve customers around the world.
Newsletter text
[WuXi Biotech (02269) responds with facts to listed companies in the face of revised U.S. draft legislation] WuXi Biotech pointed out in its announcement that the company has noticed the U.S. House Oversight and Accountability Committee's decision on the revised draft bill on May 15, 2024 (Hcryptogameswithmostusers.Rcryptogameswithmostusers. 8333) and other issues were discussed at the meeting. The draft changes the previous version, including deleting content related to the company's CEO and adding a non-retroactive "grandfather" clause until January 1, 2032. WuXi Biotech stated that although the company is included in the proposed definition of "biotechnology company of concern," the company believes the designation is an unreasonable pre-emptive behavior without due process. As a global biopharmaceutical CRDMO platform, the company made it clear that it has nothing to do with the human genomics business and the collection of human genome data, both in terms of business content and actual operations, and the company firmly believes that it will not be responsible for the United States or any other othercryptogameswithmostusersOther countries pose a security risk. The company also emphasized that legislative work on the draft bill is still in progress and its content may be subject to further review and revision. WuXi Biotech will continue to pay close attention to this legislative process and promise to adhere to the strictest compliance standards, comply with laws and regulations in each business operation region, and is committed to providing services to customers around the world. WuXi's announcement highlights the strategy and transparency of listed companies in responding to changes in the external legal environment. Investors should remain concerned about the final direction of the draft bill and its possible impact on WuXi Biotech's business.