Replies to post #13918 on The Rising Influence of Rising Affluence

[winchem21]

Tim Cook?

Quiz—Who said this?
Quote:
“We’re a U.S. company in the U.S., but we’re a Chinese company in China.”

[DewDiligence]

WXXWY -25% since_Thursday’s_close_on potential legislation barring US government funding for Chinese biotech companies:

https://www.fiercepharma.com/pharma/wuxi-biologics-plays-defense-after-draft-bill-brands-certain-chinese-biopharmas-security

New legislation aimed at blocking a group of Chinese biopharma firms from tapping into U.S. federal funding has sent shares tumbling in recent days.

Thursday, the House Select Committee on the Strategic Competition between the United States and the Chinese Communist Party unveiled the BIOSECURE act—a bill aimed at keeping taxpayer dollars out of the hands of so-called “foreign adversary biotech companies of U.S. national security concern.”

The bill specifically targets CDMO giants WuXi AppTec and WuXi Bio plus Chinese genomics companies BGI Group, MGI and Complete Genomics.

The 2-day selloff represents a market-cap loss of approximately $3B.