WuXi Vaccines, a wholly-owned subsidiary of China’s contract development and manufacturing organization (CDMO) WuXi Biologics (HKEX: 2269), today announced a definitive agreement with Merck & Co’s (NYSE: MRK) MSD International GmbH unit, whereby the latter will acquire WuXi Vaccines’ facility in Dundalk, Ireland for around $500 million pending adjustments.
The move comes ahead of potential US legislation that would restrict business for Chinese biotech companies, which specifically mentions WuXi. WuXi is “looking to reduce their scope and perhaps preparing for reduction in contracts,” said Justin Zelin, an analyst for US trading firm BTIG. Wuxi Biologics’ shares fell 2.5% to HK$16.18 on news of the deal.
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