Dec 05, 2023 04:26 AM

BUSINESS

WuXi Biologics Plunges on Concerns over Cooling Biotech Market

00:00

00:00/00:00

Listen to this article 1x

What’s New: WuXi Biologics Cayman Inc., a leading Chinese medical contract research and manufacturing company, plunged 23.8% in Hong Kong on Monday morning after the company warned of a weaker-than-expected business performance.

In a business update released Monday, WuXi Biologics stated it is likely to miss its annual growth target due to weaker biotech funding, sliding Covid-19 related incomes and a broader industry slowdown.

Register to read this article for free.

Register

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Asia New Vision Forum Kicks Off in Singapore

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin Deep Dive: Former Securities Regulator Yi Huiman’s Corruption Probe

00:00

00:00/00:00

MOST POPULAR

1: China, U.S. to Meet in Spain Over TikTok, Trade Disputes

2: Cover Story: Why Modi Won’t Play Cowboys and Indians With Trump, Opting Instead for Strategic Autonomy

3: AI Offers Hope for Growth, but Global ‘Disorder’ Poses Major Risks, Lawrence Summers Says

4: Weekend Long Read: Tycoon’s Eight-Hour Escape Exposes Failings of a Model Chinese Prison

5: Stability, Openness and Inclusiveness Are Key to an ‘Asian Century,’ Singapore Deputy PM Says

SPONSORED

OR