Posted 3/28/2024, 2:04:00 AM
U.S. Officials Flag WuXi AppTec for Transferring American IP to China, Prompting Biotech Industry Shift
- U.S. intelligence officials told senators that Chinese firm WuXi AppTec transferred a U.S. client's intellectual property to Beijing without consent.
- Officials said in briefing that WuXi AppTec and other Chinese entities engaged in concerning activity contrary to U.S. interests.
- Lawmakers received briefing as they considered legislation to restrict business with Chinese biotech firms over security concerns.
- Biotech lobby group BIO initially opposed legislation but later reversed position and withdrew support for WuXi AppTec.
- BIO's reversal influenced by information on WuXi AppTec's China ties and direction from new CEO Crowley.