0252 GMT - WuXi AppTec's sale of its Advanced Therapies unit is likely to alleviate U.S. security concerns, Citi Research analysts write in a note. The cell and gene therapy manufacturing unit is the business segment that the U.S. is worried about and affected by the Biosecure Act, which could restrict WuXi's operations in the U.S., Citi says. The sale will allow transactions to continue without interrupting patient treatments, Citi adds. Given the limited time left for the Senate to vote on the Biosecure Act under the Biden Administration, it lowers the geopolitical risks for WuXi going into 2025, Citi says. Citi retains a buy rating with a target price of HK$74.00. Shares are 3.2% lower at HK$53.85. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
December 26, 2024 21:52 ET (02:52 GMT)
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