Market Chatter: US Biosecure Act Could Boost South Korean Biotech Companies, Report Says

MT Newswires Live

Sep 12, 2024

The recent passage of the Biosecure Act in the US House of Representatives could impact the global biotech landscape, particularly for Chinese companies, Pulse News reported Thursday.

The bill seeks to lower the influence of Chinese biotech companies such as Wuxi Biologics (HKG:2269), Wuxi AppTec (HKG:2359, SHA:603259), and BGI Genomics (SHE:300676).

This move could open up new business opportunities for South Korean biotech companies such as Samsung Biologics (KRX:207940) and ST Pharm (KOSDAQ:A237690), the Korean news outlet said.

Samsung Biologics has already witnessed higher demand while ST Pharm was recently chosen as a supplier for a drug that was previously sourced from China, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $976000.00, Change: $-5000, Percent Change: -0.51%

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p><p>Price (HKD): $976000.00, Change: $-5000, Percent Change: -0.51%</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0588546209.SGD","symbol_name":"Eastspring Investments - China Equity Fund AS SGD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2466121660","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466121660","pubTimestamp":1726112591,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price (HKD): $976000.00, Change: $-5000, Percent Change: -0.51%","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}