0305 GMT - The chances of the Biosecure Act, which targets Chinese biotech companies, being passed by the outgoing Biden administration are diminishing due to the lack of time, Citi analysts say in a research note. The Biosecure Act was not included in the U.S. fiscal 2025 National Defense Authorization Act released on December 7. Citi analysts view this development as "more positive" than expected. While this does not rule out the possibility of the legislation being passed next year, the market is likely to react positively to the news today, they note. WuXi AppTec's H shares rise 8.2% to HK$59.05 and WuXi Biologics climbs 9.2% to HK$18.94. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
December 08, 2024 22:05 ET (03:05 GMT)
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