BRIEF—10% of WuXi stock to be sold in coming months

WuXi AppTec has said that over a tenth of its stock, worth up to $1.7 billion, will be sold by seven of its major shareholders in the next three months.

The seven are institutional investors that are  reportedly looking to downsize their holdings in search of relatively high returns, a move which represents “normal outflow of funds.”

Founded in 2000, WuXi is a major global player in the biopharmaceutical industry, with around 14,000 employees and revenue of over a billion dollars.