US bill poses risk to Wuxi AppTec and its Western drugmaker partners

A draft U.S. bill that has triggered a sell-off in shares of China's biotech firm Wuxi Apptec could deal a major blow not just to the firm but could also impact many labs and Western drugmakers that rely on it for research and manufacturing, public data showed. A congressional committee focused on China introduced a bill late last month that would restrict federally funded medical providers from allowing China's BGI Group, Wuxi Apptec and other biotech firms from getting genetic information about Americans. Wuxi AppTec's shares, listed in Shanghai and Hong Kong, have since tumbled nearly 50%.