Jul 21, 2022 03:25 PM

TECH

Chinese Biotech Duo Eyes $2.8 Billion Singapore Expansion

By Wen Simin and Ding Yi

Wuxi AppTec’s headquarters in Shanghai in 2019. Photo: VCG

Wuxi AppTec’s headquarters in Shanghai in 2019. Photo: VCG

Chinese contract drugmakers Wuxi AppTec Co. Ltd. and Wuxi Biologics Cayman Inc. have each unveiled a 10-year investment plan to expand their presence in Singapore — a boost to the Southeast Asian country’s effort to establish itself as a global biomedical manufacturing hub.

Wuxi Biologics was spun off from the large molecule drug subsidiary of Wuxi AppTec to list in Hong Kong in 2017. Already Shanghai-listed Wuxi AppTec landed in Hong Kong the following year.

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